Our Review
This credit card is the Best American Express credit card in Canada with no FX fee.
For a limited time, you can earn up to 40,000 welcome bonus points worth $400.
With this Card you can earn:
- 5 points per dollar on grocery, dining, food delivery and entertainment purchases
- 3 points per dollar on gas, transit and streaming services purchases
- 1 point per dollar for all other purchases
An great way to quickly earn points is to buy gift cards at your grocery store for many stores to get 5x the points (Walmart, Ikea, SAQ, etc).
You can then use your points in many ways:
- Statement credit for travel purchases
- Statement credit for all purchases
Finally, you are covered with reliable insurance for your travels and purchases.
To apply for this card, you only need a $12,000 income.
Offer
- Earn up to 40,000 bonus Scotia Rewards points in your first year (that’s up to $400 towards travel)1
- Enjoy no FX Mark-up
- Earn 5 Scotia Rewards points for every $1 you spend at eligible grocery stores, dining and entertainment
- Earn 3 Scotia Rewards points for every $1 you spend at eligible gas stations, daily transit, and select streaming services
- Earn 1 point for every $1 you spend on all other eligible everyday purchases
- Complimentary Concierge Services 24/7
- Amex exclusive benefits (Front Of The Line)
- Rates, fees, offers and other information are effective as of Mar 1, 2021. Subject to change.
Fees & Conditions
Advantages
Value
For all the credit card offers, we estimate the first year Offer Value according to:
- Value of the Cashback or Points earned with the Offer
- Value of the Benefits or travel credits earned with the Offer
- Annual fee offer (first-year rebate or not)
| Offer Value calculation for the first-year |
|
| Point Value (according to milesopedia) | 1.0 ¢ |
| Welcome Offer Value | up to $400 |
| Points earned with minimum purchases to get the Welcome Offer (1 to 5 points per dollar) |
up to $375 |
| Annual fee | $120 |
| Estimated Value | ≈ $655 |
Insurance
Legal
† Offer Description and Conditions: The 25,000 Bonus Scotia Rewards Points Offer (the “Offer”) applies only to new Scotiabank Gold American Express credit card accounts (“Account”) opened by August 31, 2021 subject to the conditions below. To be eligible for the Offer, at least $1,000 in eligible purchases must be posted to the Account within 3 months of the Account open date. Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges. The bonus points will appear as an adjustment on the Account statement within 2 statement cycles after the third billing cycle has passed provided the Account is open and in good standing at time of payout. The Account is considered in good standing if it is not delinquent (past due) or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account.
Offer may be changed, cancelled or extended and cannot be combined with any other offers.
Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail credit card, as well as employees of Scotiabank, are not eligible for the Offer. Subject to the above exclusions, Scotiabank small business credit cardholders are eligible for the Offer.
Rates and Fees: The current annual fee is $120 for the primary card and $29 for each additional supplementary card.
The current preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions).
All rates, fees, features and benefits are subject to change.