Scotiabank and American Express offer 2 gold credit cards: one from Scotia in collaboration with American Express, the other directly from American Express.
They have almost the same name, but different characteristics. Let’s see which one is the best!
We will base our analysis on the major differences between these credit cards regarding :
The welcome bonus offered by each of these credit cards varies according to promotions. However, there are some important differences between the two!
With this welcome offer for the American ExpressMD Gold Rewards Card, you can earn up to 60,000 Membership Rewards points:
After 12 months of fulfilling this simple condition, you’ll earn 60, 000 Membership Rewards points worth up to $600.
What’s more, when you apply, you have the choice of requesting this card in “gold” or “rose gold”.
With the Scotiabank Gold American Express® Card, you can earn up to 45,000 Scene+ points:
This has a $450 value. What’s more, the first year is free, which is rare for this credit card!
For $12,000 in spending over 12 months, it’s worth taking the American ExpressMD Gold Rewards Card to earn Membership Rewards points worth up to $600.
On the other hand, with $7,500 in spending, you’ll get $450 in value with the Scotiabank Gold American Express® Card.
It all depends on whether you want to maintain a constant level of purchases over the course of a year in order to earn more points, or whether you want to earn fewer points faster.
The Scotiabank Gold American Express® Card and the American ExpressMD Gold Rewards Card each offer different levels of point accumulation.
With the American ExpressMD Gold Rewards Card, you get:
While with the Scotiabank Gold American Express® Card, you earn 6 Scene+ points per dollar (or 6%) on purchases at :
Then you earn :
The Scotiabank Gold American Express® Card is simply the best of the two.
It stands out for its value received when used to pay in Empire Group grocery stores (IGA, Sobeys, Foodland, etc.) with its 6 points per dollar of purchase. And it’s the best accumulation of points in a grocery store, among all the credit cards in Canada!
Otherwise, its 5 points/$1 in other grocery stores and other eateries remains in one of the best cards for food-related spending.
The two cards are linked to different programs and are not used in the same way.
Membership Rewards points and travel :
You can apply them to travel purchases in three ways, thanks to the redemption rate where 1,000 points = $10 credit:
And the third is to transfer them to other partners (Aeroplan, Marriott Bonvoy, Flying Blue, Hilton Honors, etc.) to obtain more value. The number of points to be transferred varies according to the partner.
Also, Membership Rewards points can be applied to everyday purchases of all kinds, with 1,000 Membership Rewards points for a $10 refund on the card balance.
Points can also be used to purchase merchandise and gift cards on the American Express website.
Scene+ points and travel:
You can apply them to travel purchases in two ways, thanks to the fixed redemption rate where 10,000 points = $100 credit:
It also lets you apply your points to everyday purchases.
You can redeem 1,000 Scene+ points for a $10 discount at the IGA/Sobeys checkout.
Points can also be used to purchase gift cards on the Scotiabank/Scene+ website, from 1,000 to 1,400 points for a $10 discount.
Scene+ points can also be redeemed:
Whatever you want to do, Privilege Points are extremely flexible and can be used in any way you like. These are the best points to hold for any situation.
The American ExpressMD Gold Rewards Card has an annual fee of $250.
If used properly, the $100 annual travel credit allows you to book this annual expense at $150 net.
The Scotiabank Gold American Express® Card has an annual fee of $120. It’s charged on the first statement, and at the time of renewal.
However, for a limited time, the first year is free!
The Scotiabank Gold American Express® Card has a lower annual fee.
What’s more, for a limited time, the first year is free, unlike the American ExpressMD Gold Rewards Card.
The American ExpressMD Gold Rewards Card simply requires … $ 0 individual income.
The Scotiabank Gold American Express® Card requires a minimum income of $12,000.
It’s easy! The American ExpressMD Gold Rewards Card has no minimum income requirement.
Even the level for the Scotiabank Gold American Express® Card is quite low.
This is typical of American Express cards, which are not demanding in this aspect.
The American ExpressMD Gold Rewards Card offers various types of insurance. The certificate of insurance can be found here:
The Scotiabank Gold American Express® Card offers various types of insurance, and you can find its certificate of insurance here:
Some insurance amounts on the Scotiabank Gold American Express® Card are slightly higher than on its competitor. Please note that at least 75% of the cost of the trip or 100% of the cost of the trip must be charged to this card for certain insurances to apply.
The latter has the advantage of being the only one with mobile device insurance, in case you have an unfortunate incident with your phone or tablet.
Please note that the full price of the trip must be charged to the American ExpressMD Gold Rewards Card. However, this card will give you unrivalled medical cover in the event of a medical emergency abroad.
We strongly advise you to read the insurance brochures of both cards carefully, to find out which one is best for your situation.
The American ExpressMD Gold Rewards Card offers various benefits:
In addition, the Scotiabank Gold American Express® Card offers a range of benefits:
Many of their benefits apply to travel. Depending on each traveler’s needs, one or the other may be appropriate.
The Scotiabank Gold American Express® Card avoids the 2.5% foreign exchange conversion fee.
While the American ExpressMD Gold Rewards Card gives you free access to airport lounges with 4 accesses, a $100 annual credit and other benefits that make a trip more special.
So? Which card wins this duel?
For those with a big grocery budget, it’s the Scotiabank Gold American Express® Card!
It stands out for:
Opposite it, the American ExpressMD Gold Rewards Card will be perfect for people who travel a lot thanks to :
Savings are here:
