What Does Scotiabank American Express Offer? Is Getting 5,000 Bonus Rewards Points a Good Option?

The Scotiabank American Express provides all kinds of benefits and perks without an annual fee. Every time you use the card, you will get Scotia Reward points. Moreover, you get 5,000 bonus* points after first card use. You can spend them on eligible purchases and travel insurance. Since it’s an American Express card, you will also get exclusive entertainment and fine-dining deals. This card is an excellent choice for people who travel a lot and want to make sure they are fully insured.

SPECIAL OFFER – 5,000 Bonus Rewards

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Scotiabank American Express Card
Scotiabank American Express Card

240 User Ratings

at Scotiabank secure site

Card Details

Intro APR

N/A

Ongoing APR

19.99% Variable

Balance Transfer

Yes

Annual Fee

$0

Credit Needed

Good

Snapshot of Card Features
  • No annual fee
  • Earn 5,000 bonus Scotia Rewards points with your first $500 in everyday purchases in the first 3 months◊
  • Earn one Scotia Rewards point on all eligible everyday purchases
  • Flexible Point Redemption
  • Rates, fees and other information are effective as of publishing date and is subject to change.

Open Details +

The Scotiabank American Express is an excellent choice for people who need an everyday card because it’s easy to get and provides a few useful benefits. The card comes with some considerable perks like no annual fee, exclusive travel rewards like discounts for flights, cruises, car rentals, etc. Every purchase earns you points you can use to get some excellent deals.

With a considerable welcome bonus, seven different types of insurance, and access to American Express Invites for exclusive deals, this card is an excellent choice for people who travel a lot and want to save money on the road. The card comes with standard interest rates, and you only have to meet the requirements to get one. Apart from many travel benefits, the card provides a wide range of travel insurance options and other perks we’ll get to in just a minute.

Scotiabank American Express Offer Details

The Scotiabank American Express card is a good choice if you’re already used to Amex cards. It comes with all kinds of rewards and useful features but without an annual fee. While it comes with standard 19.99% interest rates on purchases and 22.99% on cash advances, you will get a chance to earn all kinds of rewards that will come in handy when traveling.

The only requirements are that you are over 18 and have a credit score of at least 650. You will get 5000 bonus points when you apply for the card, and each dollar you spend will earn you a Scotia Rewards point that will grant you access to perks and benefits. The Scotiabank American Express card is available in two other options, including the Scotiabank Gold American Express, and Scotiabank Platinum American Express. Both of these cards are known as the best travel credit cards in Canada.

Furthermore, the card provides access to the Scotia Rewards Travel Service, which is a full-service travel agency that allows access to several benefits like cheaper airline tickets, better deals for car rentals, and so on. Other special offers include discounts on products, four types of travel insurance, and you can even get a few supplementary cards for your friends and family members. In simple terms, this card is the best option for stress-free vacation planning, and the travel insurance will cover all costs no matter where you go.

You can book trips through the Scotia Rewards Travel Service, and the card also allows access to a wide range of merchandise rewards, prepaid and gift cards, and the ability to convert the points you earn into SCENE points. If that’s not enough, every purchase you make with this card will grant you an extended warranty and insurance coverage.

Scotiabank American Express Card Advantages

  • No annual fee
  • 5000 bonus points
  • Access to Scotia Rewards
  • Comprehensive Travel Insurance
  • Car rental discounts
  • Free supplementary cards

Scotiabank American Express Card Disadvantages

  • Not accepted in all countries
  • High APR penalties
  • International transaction fee

Why We Like Scotiabank AMEX Card

No Annual Fee

There are a few excellent features and benefits you get when owning a Scotiabank AMEX card. First off, it comes without annual fees, allowing you to get the most out of your travel rewards. So, if you spend a lot of time abroad, this card will save you some money.

Bonus Points

Then, you get access to Scotia Rewards, where every purchase earns you Scotia Reward points you can redeem in a few different ways. Every user receives 5,000 points after spending their first $500 within the first 3 months of application. Every dollar spent earns 1 Scotia Reward point. Once you’ve earned enough points, you can redeem them without any restrictions. The Scotia Rewards Travel Service can help you book trips anywhere in the world, without a single restriction, and with considerable discounts.

Travel Services

The travel service will make sure that you get the best possible prices for your purchases. You’ll also get access to the best price guarantee, where you’ll get money back if you find a cheaper alternative within 24 hours. It’s no wonder that this card is known as the best travel card in Canada.

Exclusive Offers

You will also get access to exclusive offers provided by the card issuer. You will get notifications every time a new special offer appears. They usually include dining in fine restaurants, film screenings, theatre tickets, better deals on music festivals, and so on. To top everything, you’ll also get Scotia Rewards that grant access to other exclusive travel offers that can come in handy.

Purchase Protection

Every purchase made with this card comes with 90-day purchase protection against theft, damage, and loss. The improved warranty will also extend the item warranty for another year. One of the most exciting benefits is the price protection feature that will reimburse you every time a price for an item you buy drops within 60 days of your purchase. If you purchase something and the prices go down further than what you paid, the card issuer will give you money back, as long as the price difference is within $100.

Travel Insurance

Last but not least, the Scotiabank American Express card provides comprehensive travel insurance that includes three types of purchase insurances and four types of travel insurance. For example, medical insurance will cover expenses up to $1 million per family member, a trip interruption insurance of $10,000, a $250,000 travel accident insurance, and a maximum of $65,000 rental car insurance. You will also get discounts on car rentals of up to 25%.

What Can Be Better

Only 1% Return

Even though the main benefits of using this card are travel insurance and discounts, it’s not accepted in all countries overseas. You should always check if the country you are traveling to accepts American Express, but if you book your trips through the Scotia Rewards Travel service, they will warn you about this issue. The 1% return on all purchases is excellent, but that’s as good as it gets. You won’t be able to get any cashback rewards, so keep that in mind before applying for this card.

Low Points Value to Dollar

All of the Scotia Reward points you earn can be redeemed in seven different ways. That means that you’ll lose value if you redeem your points for anything other than traveling. Statement credits are valued at 0.8 cents per point, and other redemptions can go as low as 0.63 cents per point.

High Penalty APRs

Another thing that might be a dealbreaker for some people is that the card isn’t accepted at big chains like No Frills, Costco, Superstore, and other Loblaws stores. The last thing you should be aware of is the high APR penalties if you miss a payment. The penalties can be as high as 24.99% on every purchase.

PRO Tip
If you want to make your trip overseas memorable, this card is an excellent choice. It will grant you better deals and provide exceptional insurance for all family members. Of course, you will also get discounts on hotels, car rentals, etc.

Usage & Applications

The Scotiabank American Express card is known as the best Canadian travel card. While it does allow safe transactions and you can use it to pay for products and services like any other card, most of the perks revolve around travel. Since it’s a card that requires a good credit score of at least 650, it works a little differently than many other cards.

It’s the perfect credit card for people that travel abroad, those who want to score a great travel deal during the holiday season, or just want a fee-free card for everyday purchases. Every dollar spent earns you 1 Scotia Reward point you can spend on travel arrangements, hotels, music festivals, etc. The complimentary travel agency will help you find the best deals anywhere in the world. Besides that, you will get special offers on brand-name merchandise and rewards, as well as prepaid/gift cards. You can also donate the points you’ve earned to charity.

If you do use the card to book a travel arrangement, you will get excellent travel insurance for free. It covers everything from insurance for flight interruption to car rentals, accident insurance, and emergency medical costs. Since it’s an American Express card, you’ll get access to special offers and hot-ticket discounts.

What Are Cost and Fees?

Many people who use this card apply for it because it doesn’t have annual fees, monthly fees, or balance transfer fees. With that said, there are some other fees you should be aware of, especially the high penalty APR. However, if you pay your bills on time and make sure that you’re never late, you won’t have many fees to take care of.

The Scotiabank American Express card is a popular choice for people who travel a lot because of the exceptional travel insurance. Still, it’s also a good choice for those who don’t want to pay extra fees. Here is a complete list of fees you can expect:

  • 22.99% penalty APR
  • $48 dishonored payment fee
  • 2,5% foreign currency conversion fee
  • $3.50 cash advance minimum fee
  • $29 over credit line fee

RELATED: How Credit Card Interest Works in Canada

Apart from the fees above, you won’t have to pay for anything else. The numerous rewards and benefits will save you money along the way. You won’t be able to use the card to create a savings fund, but you will save money using the many benefits it provides.

How Easy and Convenient It Is to Use this Card

You can use this card anywhere where American Express is accepted. It’s a standard card that allows you to pay for products and services. Each dollar you spend will earn you points that can help you claim all kinds of rewards and benefits. The card also allows cash advances at standard rates.

The price protection service will cover the difference in price in case a price drop within 60 days of the purchase. That makes shopping for household items much safer, as you know that you’ll get your money back. You can also get a free supplementary card for a friend or a family member. That’s always a good idea because you will be able to earn more points and get better rewards sooner.

If you plan on leaving the country and going on a holiday trip halfway around the world, this card is an excellent option. It will provide you with all kinds of benefits and discounts on your trip, but more importantly, you will get full travel insurance for all family members. The insurance will cover everything from medical emergencies to car rental damages, accidents, and so on. Having this card when traveling abroad will give you a sense of safety, no matter where you go.

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What Are the Qualification Requirements?

With the qualifications and requirements you must meet upon application, the Scotiabank American Express card is one of the easiest ones you can get. You can apply in person or by calling customer support or online. The entire process takes only a few minutes to complete.

Here is what you need to apply for the card:

  • A good credit score of at least 650;
  • Age of majority in your province (18 years old);
  • Valid ID issued in Canada;
  • Have a valid Canadian address;
  • Not have declared bankruptcy in the past seven years;
  • Details about personal income;
  • Monthly housing costs report;
  • Gross monthly income report;

If you meet the requirements above, you are eligible to apply for the Scotiabank American Express card. After the issuer reviews your application, you will have to wait for about two weeks for the card to reach your address. All of the details will be emailed to keep you updated.

As long as you have a good credit score, the bank won’t look into your credit history other than to check if you declared bankruptcy in the past seven years.

How to Apply for Scotiabank American Express Card?

As we mentioned earlier, you can apply for the card in three different ways. However, if you don’t want to go to the bank in person and if you don’t want to call them either, you can apply online as well. It takes around 8 minutes to complete the process, and if you meet the requirements, the card will be sent to your address in under two weeks. Here is what you have to do:

  • Click “Apply Now” and land at the Scotiabank American Express card’s website.
  • Read the Disclosure statement and hit “Accept & Continue.”
  • Enter all of the details like your name, age, email address, birth date, and social security number.
  • Submit your application, and you’re done.

Scotiabank American Express Offer Recap

The Scotiabank American Express card is one of the best travel cards in Canada. It offers all kinds of valuable benefits you can use while traveling. You have to have a good credit score of at least 650 to apply for the card. Each time you use the card, you will receive Scotia points. You can spend them on better deals and comprehensive travel insurance that covers everything from injuries, accidents, car rental damages, and so on.

The card also provides up to 25% discounts on car rentals, exclusive rewards in terms of discounts, amenities, privileges, and other exciting deals with American Express.

With no annual fees and an easy application method, this card is a good choice if you want to get better deals on your holiday trips. If you don’t spend your Scotia points, you can convert them into SCENE points and get even more benefits.

What People Ask About Scotiabank AMEX Card

Methodology

MarketProSecure® Canada requires authors and content creators to use primary sources to support their work. These include original data, government information, white papers, and interviews with industry experts. We also reference unbiased original studies from other reliable writers where appropriate.

  1. Scotiabank.com. “Electronic Booklet“. Last Accessed January 10, 2021
  2. Scotiabank.com. “Application Page“. Last Accessed January 8, 2021

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