Scotiabank Passport® Visa Infinite* card is a a unit of the Scotiabank bank that offers privileges for people who adore both comfort and reliability, as well as varied opportunities to get bonuses. I like this card for its attractive perks, accumulating Scene+ points on spending, and lacking foreign transaction fees also, this credit card has generous travel protection.
Besides offering exceptional and very rewarding point system the Scotiabank Passport® Visa Infinite* card entitles card holders to privileges such as free access to airport lounges, free concierge services as well as discounted travel services. This credit card offers a great number of benefits and rewards since it is oriented to provide clients with a convenient and useful financial instrument for their regular transactions and traveling.
Key information about the Scotiabank Passport® Visa Infinite* card
The Scotiabank Passport® Visa Infinite* card is loaded with so many features meant to make it valuable to its users. First, there is $1,100 in value for the first 12 months including up to 35,000 Scene + points and the first year annual fee for the first supplementary card is also waived. Some of the privileges of being a holder of a card include; accumulating of Scene+ points on specific purchases, access to airport lounges, and automatic travel insurance.
How does the annual fee work?
Scotiabank Passport® Visa Infinite* card currently has an annual fee of $150. The first supplementary credit card is free while every other supplementary credit card attracts $50 in the first year and every subsequent year.
While this fee may appear rather steep, it must be understood that the advantages as well as the rewards linked to the card more than make up for this fee, particularly if the user is a frequent traveler or makes numerous purchases in foreign currency.
How is the credit limit determined?
The credit limit does vary depending on the applicant’s financial situation; this is the credit limit for Scotiabank Passport® Visa Infinite* card. For the unsecured credit cards which are the conventional type are based on credit scores, income, and current balances.
The limit of this card starts from $5,000. This safeguards the cardholder by providing a reasonable line of personal credit that is required to cater for day to day expenses and traveling. The difference lies in the fact that the holder himself tops up the account with the particular amount and the limit is set by the deposited amount.
Credit card benefits
- No foreign transaction fees: Cardholders are not charged a Foreign Currency Conversion mark-up on foreign currency purchases, providing significant savings for international travelers.
- Scene+ points: Earn Scene+ points on various purchases, including 3 points per $1 spent at participating grocery stores, 2 points per $1 spent on dining and eligible entertainment, and 1 point per $1 spent on all other purchases.
- Airport lounge access: Enjoy six complimentary lounge visits per year at over 1,200 airport lounges worldwide.
- Travel insurance: Comprehensive travel insurance coverage, including emergency medical, trip cancellation, and rental car collision/loss damage insurance.
- Concierge services: Access to Visa Infinite Concierge Service for assistance with travel planning, restaurant reservations, and more.
- Avis® Preferred Plus membership: Complimentary membership providing discounts and expedited service at Avis car rental locations.
Scene+ points program
In addition, it has Scene+ Points Program and this is one of the most impressive features of the Scotiabank Passport® Visa Infinite* card. This program enables those with the card to earn as well as to redeem the points under virtually every category, such as groceries, dining, entertainment, and travel. For instance, cardholders can get 3 points for every $1 that they spend at supermarkets such as Sobeys and Safeway; the points can be easily earned.
Disadvantages
- Annual fee: The $150 annual fee might be a deterrent for those who prefer no-fee credit cards.
- High-interest rates: The card carries an interest rate of 20.99% on purchases and 22.99% on cash advances, which can be costly if balances are not paid in full.
- Income requirements: The minimum annual income requirement of $60,000 or household income of $100,000 may exclude some potential applicants.
High-interest rates
The main drawback of the Scotiabank Passport® Visa Infinite* card is that it boasts rather high interest rates. It attracted more clients by offering a twenty percent interest on the borrowed money. 77 of the taxes were noted to be settled in foreign currency with 99% on purchases and 22.
On cash advances, the interest rate, which one is subjected to when they keep a balance is incredibly high, at 99% per annum. This makes it necessary for cardholders to clear their balances at the end of each month as any balance carries with it very high-interest charges.
Who can apply for this card?
Scotiabank Passport® Visa Infinite* card application is usually subjected to certain criteria; one must be at least the age of majority in the province or territory of residence, should have a minimum income of sixty thousand dollars per annum; the joint income should be a minimum of one lakh only; if self-employed, the applicant should possess minimum assets under management of a quarter of a lac dollars.
How to apply for the Scotiabank Passport® Visa Infinite* card
Through the website
Applying for Scotiabank Passport® Visa Infinite* card is an easy and fast when done on the internet. First, go to the Scotiabank official website and find the credit card page. Choose the Scotiabank Passport® Visa Infinite* card and here you will find the button apply for it.
You will be taken to an online application form which you are to fill correctly by entering your personal details such as your name, your address, phone contact, and any other financial details that may be required.
When completing the application you will be requested to provide further support documents like pay-stubs and ID. Make sure when filing in the application form all the field are properly filled with accurate data and information. This step is an important one so that your application does not encounter any hitches along the process.
After getting your application processed, Scotiabank will evaluate your details and communicate to you concerning the approval status of your application. The necessary credit card documents will be approved and then your new credit card will be sent to you within a few business days.
In addition to having no foreign transaction fee on the Scotiabank Passport® Visa Infinite* card, the card includes the advantage of coverage for travel and rental car insurance; It also allows the holder the flexibility of earning and redeeming Scene+ points in as many categories as possible.
However, to be a fit for this card, potential applicants should factor in the high interest rates a well as the annual fee before deciding whether it is the right card for them and their lifestyle.
