Scotiabank Gold American Express Card Review

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Get a hard-to-beat return on your everyday purchases with the Scotiabank Gold American Express Card.

With a fresh new look and plenty of features, the Scotiabank Gold American Express Card offers 5 Scotia Rewards points for every $1 you spend on groceries, dining and entertainment purchases, 3 points for every $1 spent on gas, daily transit and streaming services and 1 point for every $1 spent elsewhere.

19.99%

Purchase Interest Rate

$120

Annual Fee

22.99%

Balance Transfer Rate

Details

Product NameScotiabank Gold American Express Card
RewardEarn 5 Scotia Rewards points per $1 spent on groceries, dining and entertainment, 3 points on gas, transportation and streaming services, and 1 point on every other purchase.
Welcome OfferGet up to 30,000 bonus Scotia Rewards points in your first year of card membership (up to $300 in rewards). Ends 30 December 2019.
Purchase Interest Rate19.99%
Cash Advance Rate22.99%
Balance Transfer Rate22.99%
Interest Free Period Up to 21 days
Minimum Credit Limit$5,000
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30-second take

  • Get this card if you want a top return on rewards points alongside no foreign transaction fees and comprehensive travel insurance coverage.
  • Choose something else if you’re looking for a cash back program or don’t want to pay an annual fee.
  • You must have a minimum annual income of $12,000 to qualify for this card.

The basics

If you want to earn rewards points up to 5x faster, then the Scotiabank Gold American Express Card might be the right fit for you. It’s one of the rare cards that comes with no foreign transaction fees, saving you 2.5% each time you use your card overseas or online with an international retailer.

Earn 5 Scotia Rewards points for every $1 spent on groceries, dining and entertainment, 3 points for every $1 spent on gas, daily transit and streaming services, and 1 point for everything else. Plus, you’ll get a signup bonus of 30,000 points. Receive the first 25,000 when you spend $1,000 in your first 3 months and get 5,000 more points when you spend at least $10,000 in eligible purchases in your first year.

You can use your card to book travel through Scotia Rewards Travel Service, a full-service travel agency, and redeem your points on exclusive offers on travel packages as well as take advantage on hard-to-beat complimentary travel insurance.

Beyond travel rewards

If you don’t plan to travel in the near future but you want to redeem your rewards, you can also choose from a wide selection of merchandise and gifts offered by Scotia Rewards. If you’re feeling particularly generous, you can even donate your points to charity. There’s also an option to convert your Scotia Rewards to SCENE points, and vice-versa.

The perks

  • High return on points. Get 5x the rewards points for every $1 spent on groceries, dining and entertainment, 3x the points on gas, public transportation and streaming services, and 1x the points on everything else.
  • No foreign transaction fees. Pay no foreign transaction fees every time you use your card overseas or online with an international retailer.
  • Airport lounge access. Get access to over 600 airport lounges worldwide with a complimentary Priority Pass.
  • Promotional offers. Take advantage of a number of hot-ticket discounts along with special access offers for a wealth of experiences unique to American Express card holders.
  • Complimentary concierge service. Call the 24/7 concierge for help booking dinner reservations, tickets for in-demand shows or any other up-and-coming events or entertainment on your itinerary.
  • Save on car rentals. Book with participating AVIS and Budget car rentals in Canada and the US and save up to 25% when you pay with your Scotiabank Gold American Express Card.
  • World class service. Contact customer service 24/7 to report issues with your account and troubleshoot problems by speaking directly to an agent.

Comprehensive Insurance Package

The Scotiabank Gold American Express Card also offers extended purchase and travel insurance:

  • Purchase security and extended warranty insurance. Get extended warranty and insurance coverage to cover theft, loss or damage on most items purchased with your card. Covered in the first 90 days from date of purchase.
  • Purchase protection. With Scotiabank’s price protection service, you will get covered for up to $100 per claim or up to $500 per year when you charge your card on eligible purchase in Canada and spot the same item with a lower price within 60 days.
  • Travel insurance. Make use of a wide suite of travel insurance to cover car rentals, flight cancellations/interruptions, baggage delays or lost luggage, hotel burglaries and other incidentals. This comes on top of $1,000,000 in Travel Emergency Medical Insurance and $500,000 in travel accident insurance.
  • Optional coverage. Pay only $1.09 per $100 of the daily balance on your credit card account to receive a monthly benefit of 20% of your credit card balance. This balance is paid out for a range of life events including disability, job loss, strike, critical illness or loss of life.

What to watch out for

  • Annual fee. The annual fee for this card is $120, with an additional $29 charge for supplementary cards.
  • Not as widely accepted overseas. The Scotiabank Gold American Express Card may not be accepted in as many locations as Visa and Mastercard branded cards.

What do other customers say?

Many customers enjoy the flexibility of Scotia Rewards, which can be exchanged for travel, merchandise, SCENE points and more. Many cardholders are very appreciative of the 5x return per dollar on points with this card, although some would prefer to pay no annual fee in exchange for less points. Many are also pleased with the comprehensive insurance package offered through this card. One limitation of the Scotiabank Gold American Express Card is that customers can’t use American Express cards as easily overseas.

What should I know before I apply

How to apply

  1. Click Go to site on this page to be securely directed to your Scotiabank Gold American Express Card application.
  2. Read through the Disclosure Statement details and click Accept & Continue.
  3. Complete the application with details that include your name, email address, social insurance number and birth date.
  4. Review and submit your application.

Bottom line

The Scotiabank Gold American Express Card offers a full suite of perks and benefits for a $120 annual fee. This card offers 5x the rewards points for every $1 you spend on groceries, dining and entertainment, 3x the points on gas, public transportation and streaming services, and 1x the points on everything else. Plus, get comprehensive purchase and travel insurance and avoid paying foreign transaction fees.

If you’re looking for a fee-free card with similar benefits, you might like to check out the Scotiabank Gold American Express Card. If you want a more targeted travel rewards program, you can look into the ScotiaGold Passport Visa Card.

Frequently asked questions about the Scotiabank Gold American Express Card

Pictures: scotiabank.com/ca

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