Scotiabank®* American Express® Card Review

Sign Up Bonus Points
5,000
Sign Up Cash Value
$50
Annual Fee
$0
Purchase APR
19.99%
Min Personal Income Required
$12,000
Recommended Credit Score
740 850 670 739 580 669 0 579
Fair-Good
Earn 5,000 bonus Scene+ points with your first $500 in everyday purchases in first 3 months, terms and conditions apply

The Scotiabank®* American Express® Card is a travel card that makes it easy for customers to earn and redeem Scene+ points both at home and abroad. Aside from the lucrative rewards points, customers who like to travel can rest easy thanks to the range of insurance protections available through the card. Some purchases made with the card are also eligible for special extended warranties and price protection.

At a Glance

  • No Annual Fee!
  • Earn 5,000 bonus Scene+ points with your first $500 in everyday purchases in first 3 months, terms and conditions apply
  • Earn 1 Scene+ point for every $1 spent on all eligible purchases
  • Redeem points for travel arrangements without restrictions
  • Book trips with Scene+ Travel Service
  • Feel secure when travelling with available travel insurance options

Why We Like It

  1. Save During First Year: The Scotiabank®* American Express® Card is yours for no annual fee at all! So you will get the most out of your travel rewards.
  2. Earn Scene+ points: Customers can earn 5,000 bonus Scene+ points with your first $500 in everyday purchases in first 3 months (terms and conditions apply) and easily accumulate Scene+ points by using their card for routine purchases. Cardholders will earn 1 Scene+ point for every $1 spent on most purchases.
  3. Redeem Without Restrictions: Cardholders can redeem their Scene+ points with the help of travel agents in the Scene+ Travel Service. Customers can book trips anywhere with no restrictions or blackout periods that accompany many competing cards. Furthermore, members can rest assure knowing they are receiving the best available price for whatever they purchase. The company’s best price guarantee gives cardholders the ability to earn back the difference in price if they find a cheaper alternative for the same itinerary within 24 hours, adding to the advantages of booking travel with the service.
  4. Enjoy Special Offers: American Express Members receive special privileges whether traveling or shopping at home. The company will notify cardholders of special offers and experiences available, including table booking at fine dining establishments, theatre engagements, film screenings and more. In addition, Scotiabank invites customers to take advantage of exclusive offers such as discounts and amenities when travelling.
  5. Added Protections on Purchases: The Scotiabank®* American Express® Card includes an automatic 90-day purchase protection on eligible items against theft, loss or damage. An automatic extended warranty also doubles the manufacturer’s warranty term by up to an extra year. While most cards stop their purchase protections here, the Scotiabank American Express Card includes Price Protection, reimbursing customers up to $100 in the case of a drop in an item’s price within the first 60 days of purchase.
  6. Stay Covered: The Scotiabank®* American Express® Card insures travelers with a variety of protections, including insurance for medical emergencies, accidents, trip interruptions, and rental car damage. These protections extend to the cardholder’s spouse and dependents as well.

Is It Worth It?

Those individuals who want to quickly redeem points on travel and save money on insurance and purchase protections will find this card particularly useful. However, annual interest rates charged for balance transfers, purchases and cash advances are comparable to industry standard rates, indicating the availability of better options if a potential member is considering transferring a balance.

In Conclusion

The Scotiabank®* American Express® Card is a flexible and rewarding travel card, giving customers the ability to earn points per $1 spent on all eligible everyday purchases. Points can be redeemed flexibly without travel restrictions, and on a variety of brand name merchandise. Customers who travel frequently will enjoy extra purchase protections and travel insurance coverage included with the card.

Author Bio

GreedyRates is Canada’s go-to resource for all things personal finance. Our expert articles and videos cover every topic under the financial sun, including credit cards, credit scores, loans, bank accounts, budgeting, investing, RSPs, TFSAs, GICs, taxes, and more. Want our advice on a personal finance issue? Send us an email at [email protected] and we’ll gladly give you some free tips.

Article comments

4 comments
B says:

would you say this would be an ok starter credit card for a student with a good ongoing income?

Nate Siegel says:

Hey B,

If you’re enrolled as a student, then in Canada you have a special status that allows you to qualify for an SPC (Student Price Card), which offers great discounts in many places that students shop. Though SPC cards are often a bit too simplistic for students with incomes and credit scores who can otherwise be eligible for a full-fledged rewards card, they have good value. The Scotiabank Gold Amex card is also quite suitable for a student, especially one in your situation.

Why is it good for a student? The earnings categories, for one. Being able to get 5 points per $1 spent on food and 3 points per $1 spent on transit and gas is crucial for students like you, who ideally want to spend as little of their income as possible on these things. It’s also nice to get those pesky 2.50% foreign transaction fees out of sight, and out of mind, though we’re not sure how often you’ll be travelling as a student. We’d normally say that the $120 annual fee is enough to dissuade a student from the card as well, but since you have a good income it shouldn’t be an issue. Thumbs up from us.

GreedyRates

B says:

Thanks so much for the reply. What would you set as a minimum income for the gold Amex scotiabank Card? I’m quite intrigued as the perks are much better than that of the regular card.

B says:

Thanks so much for the reply. What would you set as a minimum income for the gold Amex scotiabank Card? I’m quite intrigued as the perks are much better than that of the regular card. However, I don’t want to risk a hard hit to my credit as I’ve never had a credit card before.