The Scotiabank Platinum American Express® Card is designed to offer cardholders a premium financial experience, blending convenience, travel rewards, and luxury benefits. With this card, users gain access to comprehensive insurance, exclusive travel perks, and a highly rewarding points system, making it an ideal choice for frequent travelers and those who value top-tier service.

Whether you’re planning your next getaway, seeking greater financial flexibility, or simply looking to elevate your daily spending experience, the Scotiabank Platinum American Express® Card promises to meet your needs. In this guide, we’ll explore the features, advantages, and how to make the most of this exceptional credit card.

Key information about the credit card

How does the annual fee work?

The Scotiabank Platinum American Express® Card comes with an annual fee of $399, reflecting its premium positioning. This fee provides access to a suite of high-value benefits, such as no foreign transaction fees, luxury travel privileges, and comprehensive insurance. For cardholders looking to share these benefits, supplementary cards are available at $99 each per year.

How is the credit limit determined?

The Scotiabank Platinum American Express® Card offers a minimum credit limit of $10,000, positioning it as a card tailored for individuals with established credit histories and higher income levels. This limit is determined based on various factors, including the applicant’s credit score, income, and debt-to-income ratio. Scotiabank conducts a thorough review of each applicant’s financial situation to determine an appropriate limit.

Advantages of the credit card

• No foreign transaction fees: One of the few cards in Canada to eliminate the standard 2.5% foreign transaction fee. Cardholders only pay the exchange rate on international purchases, saving significantly on travel and online shopping in foreign currencies.
• Generous rewards program: Earn 2X Scene+™ points for every dollar spent on eligible purchases. These points can be redeemed for a wide variety of rewards, including travel, shopping, dining, and entertainment.
• Complimentary airport lounge access: Receive 10 complimentary lounge passes per year, granting access to over 1,200 VIP lounges globally. This includes access to Priority Pass™ lounges and Plaza Premium lounges.
• Comprehensive travel insurance: The card includes extensive insurance coverage, including emergency medical, trip cancellation, flight delay, lost luggage, and rental car insurance. Cardholders can travel with peace of mind knowing they are well-protected.
• Flexible travel redemption: Scene+ points offer flexibility in redeeming for travel expenses, such as flights, hotels, and car rentals, with no blackout dates or restrictions.

Standout advantage

The standout feature of the Scotiabank Platinum American Express® Card is its no foreign transaction fees policy. Unlike most credit cards that charge a 2.5% fee on purchases made in foreign currencies, this card ensures you only pay the actual exchange rate. For frequent travelers and online shoppers who often deal with international transactions, this can result in significant savings over time. This feature, combined with the card’s robust rewards program, makes it a valuable tool for those who want to maximize their spending power globally.

Disadvantages

• High annual fee: At $399 per year, the annual fee may be a barrier for budget-conscious users or those who don’t fully utilize the card’s perks.
• Supplementary card costs: Adding supplementary cardholders incurs an additional annual fee of $99 per card.
• Not ideal for low spenders: The rewards and benefits may not justify the annual fee for users with minimal spending habits.
• Limited cashback rewards: The card focuses on travel rewards rather than cashback, which might not appeal to individuals seeking direct monetary benefits.

A standout disadvantage

The high annual fee of $399 stands out as the primary disadvantage of the Scotiabank Platinum American Express® Card. While this fee is justified by the card’s extensive benefits, it may deter individuals who are not frequent travelers or high spenders. For those who do not plan to take advantage of the travel rewards, lounge access, and comprehensive insurance, a lower-cost alternative may be more suitable.

Who can apply for this card?

To apply for the Scotiabank Platinum American Express® Card, applicants must meet specific eligibility requirements. You must be at least 18 years old and a Canadian resident. The card is best suited for individuals with a strong credit history and a steady income, given its premium nature and minimum credit limit.

Scotiabank also requires proof of income and identification during the application process to ensure applicants can responsibly manage the card’s features and obligations. This card is not recommended for those with poor credit scores or individuals looking for credit solutions with easier approval processes. Its benefits are tailored for those who prioritize travel, luxury perks, and premium service.

How to apply for the Scotiabank Platinum American Express® Card

For the website

To apply online, visit the official Scotiabank website and navigate to the credit card section. Select the Scotiabank Platinum American Express® Card and click on the “Apply Now” button. The online application form will require details such as your name, address, employment information, and annual income. Ensure that you have your Social Insurance Number (SIN) and government-issued ID available for verification.

Once you complete and submit the application, Scotiabank will review your information. Approval may take a few business days, and you’ll be notified via email or phone. Applying online is convenient for users who prefer a digital approach with minimal paperwork.

Through the app

The Scotiabank mobile app provides another user-friendly option for applying. After downloading the app and logging into your account, navigate to the credit card section and select the Platinum American Express® Card. The app will guide you through the application process step-by-step, including uploading required documents such as proof of income and identification.

This method is particularly convenient for tech-savvy individuals who appreciate the flexibility of completing financial tasks on their smartphone. Notifications about your application status are sent directly through the app, keeping you informed every step of the way.

At the branch

For those who prefer face-to-face interactions, applying in person at a Scotiabank branch is an excellent option. Schedule an appointment with a financial advisor, who will guide you through the application process. Bring the necessary documents, including government-issued ID and proof of income, to ensure a smooth application experience. The in-branch application allows you to ask questions and receive personalized advice from a Scotiabank representative.