With the new Scotiabank Gold American Express credit card, you’ll earn 5 Scotia Rewards points on every dollar spent on eligible purchases.
Plus, with this credit card you can save 2.5% on foreign transaction fees. In this article, let’s take a look at everything the Scotiabank Amex Gold Card has to offer, including benefits and features. Let’s get started.
- The annual fee for the Scotiabank Gold American Express Card is $120/year.
- Interest rate – 19.99% or 22.99% on purchases/cash advances
- Minimum credit limit – $5,000 to apply for the card
- Each additional card – $29/year
- No Foreign Transaction Fee – You won’t pay a 2.5% foreign transaction fee on any foreign currency purchase, including online purchases and when traveling abroad.
Scotiabank Gold American Express Benefits Explained
Did you know that you can accelerate your earning of reward points? Yeah, that’s true.
Quick note, you will earn accelerated Scotia Rewards points (5X or 3X depending on the case) under the Scotia Rewards program if you make purchases in Canadian currency only.
For purchases made in foreign currencies, you will only earn one Scotia Rewards point for every dollar charged to the Scotiabank American Express credit card once that foreign currency has been converted to Canadian dollars.
1. Restaurants, drinks and movies
When you plan to dine out with family and friends and use this credit card to pay, you’ll earn 5x Scotia Rewards points for every CA$1 spent at eligible grocery stores, restaurants, fast food and beverage outlets such as Foodora, Skip The Dishes, Hello Fresh, Tru Local, Cineplex and Chefs Plate.
2. Uber and Netflix
We all use Uber, at least twice a month.
With Scotiabank Gold Amex Express, you’ll earn 3x Scotia Rewards points for every CA$1 spent on eligible daily gas and transit. Includes rideshare, buses, taxis, subway and more.
The best part is that when you pay for your Netflix subscription using this card, get 3x Scotia Rewards points for every CA$1 spent on select eligible streaming services.
3. Shopping on Everything Else
For all other purchases, you will technically earn 1x Scotia Rewards point for every dollar spent on any other purchase.
You can check the rewards points you will earn from the rewards calculator below:
How to earn 25,000 Scotiabank Bonus Rewards points?
For a limited time, you can open a new Scotiabank Gold American Express credit card account and earn a one-time bonus of 25,000 Scotia Rewards points with your first $1,000 in eligible daily purchases made within the first three months from the account opening date.
Plus, earn an additional one-time bonus of 5,000 Scotia Rewards points when you spend at least $10,000 on eligible everyday purchases in your first year. Now, this bonus offer is applicable to new accounts opened before December 30, 2019.
Scotiabank Gold American Express – Bonus Offer Eligibility and Exclusions
The following people are not eligible for bonus offers:
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Current primary or secondary credit cardholders of a Scotiabank retail credit card, including those switching from an existing Scotiabank retail credit card
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Previous Scotiabank retail credit card holders within the past two years
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Scotiabank employees
Subject to the exclusions above, Scotiabank small business credit cardholders are eligible for bonus offers.
Bonus offer conditions
To be eligible for the 25,000 Scotia Rewards points bonus offer, you must:
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Have at least $1,000 in qualifying purchases posted to your new account within the first 3 months from the account opening date.
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Bonus Scotia Bonus points will be credited to the primary cardholder’s Scotia Rewards account within 5-10 business days after the first 3 months have passed, provided the account is open and in good standing at the time of payment.
To be eligible for the 5,000 Scotia Rewards points bonus offer, you must:
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Have at least $10,000 in qualifying purchases in your first year (12 months) in the account (annual period begins from the account opening date).
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Bonus Scotia Bonus points will be credited to the primary cardholder’s Scotia Rewards account within two statement cycles after reaching the annual spend of $10,000 on the account, provided the account is open and in good standing at the time of payment.
How do I convert Scotia Rewards points to Scene points?
Oh yes! Scotia Rewards points can be converted to SCENE points and SCENE points can be converted to Scotia Rewards points.
To do this, you must have a Scotiabank card account that allows you to accumulate Scotia Rewards points (the “Scotiabank Program Card Account”) and that is in good standing, as well as a valid SCENE membership card.
You must convert a minimum of 1,000 points per conversion. You can redeem points up to a maximum of 4 times in a 24 hour period. Conversions cannot be undone or undone once completed.
What are the foreign transaction fees on Scotiabank American Express?
So there you have it, Scotiabank does not charge you a foreign exchange transaction fee on foreign currency transactions, including purchases, only the exchange rate applies.
This fee is the 2.5% markup typically charged by credit card issuers on top of the exchange rate.
How can I contact Scotiabank Rewards?
For anything related to Scotiabank Rewards Points or general inquiries, you can visit rewardsscotia.com or by calling 1-800-665-2582.
Last words
So there you go. This was my review of the Scotiabank Gold Amex Review and it is definitely positive.
In a nutshell, the Scotiabank Gold American Credit Card is one of the best credit cards in Canada for earning rewards points quickly and through regular daily purchases.
Plus, this is just one of Scotiabank’s offers. There are also other great options and credit cards in case you may be looking for a cash back credit card.
Please share this article on social media and help spread the word. Let me know your thoughts and comments below.
