The Scotiabank Gold American Express® card is designed to offer exceptional rewards and benefits, making it an ideal choice for those who want to maximize the value of their everyday spending. Whether you’re shopping for groceries, dining out, or traveling abroad, this card allows you to earn up to 6X the Scene+TM points on eligible purchases, giving you the opportunity to accumulate rewards quickly.
Additionally, this card stands out for its lack of foreign transaction fees, saving you 2.5% on all your foreign currency purchases, which is a rare feature among Canadian credit cards. For those who appreciate premium perks and flexibility, the Scotiabank Gold American Express® card provides exclusive access to events, comprehensive travel insurance, and no-cost supplementary cards for family members.
With a competitive rewards program and a variety of cardholder benefits, this card is an excellent option for individuals looking to get more out of their spending while enjoying a wide range of privileges.
Key information about the Scotiabank Gold American Express® card
The Scotiabank Gold American Express® card is a rewards credit card that offers a robust points system, allowing cardholders to earn Scene+ points on every purchase. You can earn up to 6X the points on eligible grocery, dining, and entertainment purchases in Canada, 5X the points on dining and eligible entertainment, 3X the points on gas, transit, and select streaming services, and 1X the points on all other eligible purchases. These points can be redeemed for a variety of rewards, including travel, merchandise, and statement credits.
How does the annual fee work?
The Scotiabank Gold American Express® card comes with an annual fee of $120. This fee is billed annually and is necessary to maintain the card’s active status and access to its benefits. However, for new cardholders, the annual fee is waived for the first year as part of a special promotion. This gives you a full year to experience the card’s benefits without incurring this cost.
How is the credit limit determined?
The credit limit for the Scotiabank Gold American Express® card is determined by Scotiabank based on your creditworthiness. When you apply for the card, the bank evaluates factors such as your credit score, income, and overall financial history to set a credit limit that aligns with your ability to manage debt responsibly. The minimum credit limit starts at $5,000, but depending on your financial profile, you may be offered a higher limit.
Credit card benefits
- Up to 6X scene+ points: Earn up to 6 Scene+ points on every $1 spent on eligible grocery, dining, and entertainment purchases in Canada.
- No foreign transaction fees: Save 2.5% on all foreign currency purchases, whether shopping online or traveling abroad.
- Comprehensive insurance coverage: Includes travel insurance, purchase protection, and extended warranty coverage, providing peace of mind for your purchases and travels.Exclusive Amex Offers: Access special offers and experiences through American Express, including presale tickets, exclusive events, and more.
- Airport lounge access: Enjoy discounts on Priority Pass™ membership and access to over 1,200 VIP lounges worldwide.
- Supplementary cards: Add supplementary cards for family members at a low annual fee, helping you earn more points collectively.
No foreign transaction fees
What sets the CIBC Aeroplan Visa Infinite card out as one of the best credit cards is the ability to earn points at a faster rate. Cardholders earn 1. 5 Aeroplan points for every dollar spent on the necessary purchases inclining gas, groceries and Air Canada product.
Disadvantages
- High annual fee: The $120 annual fee, while justified by the rewards and benefits, may be a deterrent for those who prefer a no-fee card.
- Supplementary card fee: Each additional cardholder incurs a $29 annual fee, which could add up if you plan to provide cards for multiple family members.
- Limited acceptance: As an American Express card, it may not be accepted at all merchants, especially outside of major urban areas or in certain countries.
Limited acceptance
The main drawback of the Scotiabank Gold American Express® card is its limited acceptance compared to Visa or Mastercard. While American Express is widely accepted in Canada and many parts of the world, there are still some retailers and service providers that do not accept it. This can be inconvenient, particularly when traveling or in locations where American Express has lower acceptance rates.
Who can apply for this card?
To be eligible to apply for the Scotiabank Gold American Express® card, you must be at least 18 years old and a Canadian resident with a valid Social Insurance Number (SIN). The card is designed for individuals with a good to excellent credit score, as it offers a higher credit limit and substantial rewards.
While there is no strict minimum income requirement, applicants with a stable and higher income are more likely to be approved and may qualify for a higher credit limit. This card is ideal for those who have established credit and want to maximize their rewards, particularly in categories like groceries, dining, and travel.
How to apply for the Scotiabank Gold American Express® card
Applying through the website
Applying for the Scotiabank Gold American Express® card is a straightforward process that can be completed online in just a few minutes. To begin, visit the official Scotiabank website and navigate to the credit card section, where you will find the Scotiabank Gold American Express® card listed among other available options.
Click on the card to access the detailed information page, and from there, you can start your application by clicking the “Apply Now” button. You will be directed to an online application form where you’ll need to provide your personal details, including your name, address, Social Insurance Number (SIN), and income information.
Once you have filled out the necessary fields, take a moment to review the information to ensure it is accurate and complete. This step is crucial because any errors could delay the processing of your application or affect your eligibility.
After confirming that all the information is correct, submit your application electronically. Scotiabank will then review your submission, which includes assessing your creditworthiness and financial stability. This review process typically takes a few business days, but you might receive an instant decision depending on your financial profile.
If your application is approved, you will receive your Scotiabank Gold American Express® card in the mail within a few business days. Upon receiving the card, you will need to activate it, which can be done online or by phone.
Once activated, you can start using your card to make purchases and begin earning Scene+ points on your spending. The process is designed to be user-friendly, ensuring that you can quickly and easily start enjoying the benefits of your new credit card.
