Scotiabank Gold American Express® Card

Scotiabank Gold American Express® Card

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AmericanExpress Gold Rewards Card®

American Express Gold Rewards Card®

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Scotiabank Gold American Express® Card vs American Express Gold Rewards Card®: Which one is better?


Scotiabank Gold American Express® Card

Scotiabank Gold American Express® Card

4.9


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

AmericanExpress Gold Rewards Card®

American Express Gold Rewards Card®

4.25


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Finly Rebate

Now $150 until Nov 30, 2024

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$644.5

Scene+


First Year Bonus

$450

Scene+


Annual Fee

$120


First Year Value

$1,094.5

$524.5 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$619.03

American Express Membership Rewards


First Year Bonus

$1,260

American Express Membership Rewards


Annual Fee

$250


First Year Value

$1,629.03

$369.03 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included

  • lost baggage

    Lost or Stolen Baggage

    $500/person, $1000/trip
  • hourglass timer

    Baggage Delay

    $500/person, $1,000/trip After 4 hours
  • car insurance

    Car Rental Damage & Theft

    $65K up to 48 days
  • heart lock

    Travel Accident

    $500K/person, $1M/occurrence
  • extended warranty

    Extended Warranty

    Up to 1 year
  • purchase protection

    Purchase Protection

    90 days
  • burglar

    Hotel Burglary Insurance

    $1000/occurrence
  • travel accident medical

    Emergency Out of province Medical

    $1M, Up to 25 days
  • cancel airplane

    Trip Cancellation

    $1500/person, $10000/trip
  • pause

    Trip Interruption

    $1500/person, $10,000/trip
  • hourglass timer

    Flight Delay

    $500/person

  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • travel accident medical

    Emergency Medical Over 65

    $1M, Up to 3 days

Insurance Included*

  • lost baggage

    Lost or Stolen Baggage

    $500
  • hourglass timer

    Baggage Delay

    $500 after 6 hour delay
  • car insurance

    Car Rental Damage & Theft

    $85K, up to 48 days
  • heart lock

    Travel Accident

    $500,000
  • extended warranty

    Extended Warranty

    Up to 1 year
  • purchase protection

    Purchase Protection

    90 days, Up to $1,000
  • burglar

    Hotel Burglary Insurance

    $500
  • travel accident medical

    Emergency Out of province Medical

    15 days
  • cancel airplane

    Trip Cancellation

    $1,500 per person, $3,000 combined
  • pause

    Trip Interruption

    $1,500 per person, $6,000 combined
  • hourglass timer

    Flight Delay

    $500 after 4 hour delay

Extra Benefits

  • Amex logo

    American Express® Experiences


  • exchange money

    No Foreign Transaction Fees

    Avoid the 2.5% foreign transaction fees incurred when spending in non $CAD
  • concierge

    Concierge Services

  • discount

    Discount

    Discount on PriorityPass Membership

Extra Benefits*

  • Amex logo

    American Express® Experiences


  • star fall

    Status lift

    Hertz Gold Plus Rewards® loyalty program
  • reward cup

    Extra points

    Earn 2 points on Amex Travel Online purchases and extra points on American Express offers
  • travel

    Travel Credit

    $100
  • border guard

    Nexus Program Rebate

    $50 statement credit every 4 years
  • hotel

    Complimentary Hotel Benefits

    Hotels booked American Express Travel
  • alcohol cheers

    Airport Lounge - Priority Pass

    Pass only. No Complimentary visits!
  • alcohol cheers

    Airport Lounge - Plaza Premium

    4 Free complimentary visits

Interest Rates

Purchase:

20.99%

Cash Advance:

22.99%

Balance Transfer:

22.99%

Interest Rates*

Purchase:

21.99%2

Cash Advance:

21.99%2

Annual Fee

$120

$0

First Year Waived

Annual Fee*

$250

Income Required

Min Personal Income:

$12,000

Min Household Income:

$12,000

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus

Earn 25,000 bonus Scene+ points by making at least $1,000 in everyday eligible purchases in your first 3 months. Plus, for a limited time, you are eligible to earn a 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year.

Welcome Bonus*

Earn 5,000 Membership Rewards® points for each monthly billing period in which you spend $1,000 in purchases on your Card in the first Year

Rewards Rate

  • 6 Points per $1 spent at Sobeys, Safeway, IGA, Foodland & Participating Co-ops
  • 5 Points per $1 spent on eligible dining, other grocery stores, entertainment purchases including movies, theatre, and ticket agencies
  • 3 Points per $1 spent on rides which includes rideshare, buses, taxis, subways and more
  • 3 Points per $1 spent on eligible streaming service payments (Netflix, Spotify, Disney+, Crave and more)
  • 1 Point per $1 spent on all other eligible purchases

Rewards Rate*

  • 2x points per $1 spent on gas, groceries and drugstore purchases
  • 2x points per $1 spent on travel (eligible flights, hotels, tours and more)
  • 1x point per $1 spent on all other eligible purchases

Loyalty Program

Point Redemption Options

  • online shop

    Merchandise

    0.76¢ / point
  • gift card

    Gift Cards

    0.74¢ / point
  • cash coins

    Statement Credits (Cash)

    0.7¢ / point

  • entertainment popcorn

    Entertainment

    1¢ / point
  • travel - plane

    Travel

    1¢ / point
  • groceries

    Groceries (Sobeys)

    1¢ / point
  • food location

    Restaurants

    1¢ / point

Point Redemption Options*

  • cash coins

    Statement Credits (Cash)

    1¢ / point
  • gift card

    Gift Cards

    0.765¢ / point
  • online shop

    Merchandise

    0.63¢ / point

  • Most Optimal

    plane

    Transfer to Airline Partners

    2.1¢ / point
  • travel - plane

    Fixed Point Travel Program

    1.66¢ / point
  • hotel

    Transfer to Hotel Partners

    1.66¢ / point
  • amazon logo

    Amazon.ca

    0.7¢ / point

Is this card worth it?

The Scotiabank Gold American Express® Card is one of our favorite cards. It has a very solid rewards program, earning one of the highest rewards among all credit cards in Canada. In addition, it offers comprehensive travel benefits, including the rare and valuable no foreign transaction fee benefit, making it a great and balanced credit card in terms of both rewards and benefits. The first-year annual fee waiver is the cherry on top, providing even greater value to cardholders.

Is this card worth it?

The American Express® Gold Rewards Card is an excellent choice for travelers seeking an entry-level card that offers a strong balance of generous travel benefits without excessive costs. With a relatively low annual fee, this card provides flexibility and a range of perks that make it stand out among other options. It’s ideal for those who want to maximize their travel rewards without being tied to a specific airline or compromising on the benefits offered.

Pros

  • No foreign transaction fee saves you 2.5% on all non-CAD purchases.
  • Rewards cover all high-spending categories, including food, groceries, entertainment, and gas.
  • Comprehensive coverage of all travel insurance.

Pros

  • Flexible Rewards: Enjoy flexible Membership Rewards point conversion with up to 2 points per $1 spent.
  • Travel Perks: Includes $100 annual travel credit and 4 free passes to Plaza Premium lounges in Canada.
  • Comprehensive Insurance: Comes with 11 types of insurance coverage.
  • Multiple Redemption Options: Offers 4 ways to redeem points for maximum value.

Cons

  • The card network is American Express, which might not be widely accepted in some countries, making it a bit harder to use the no foreign transaction fee benefit.
  • Having a lounge pass would have made this card even more perfect, but there is access to a discount code for lounge access pass purchases.

Cons

  • High Annual Fee: The card comes with a $250 annual fee.
  • Foreign Transaction Fees: A 2.5% fee applies to foreign transactions.
  • Limited Travel Insurance for Seniors: No travel medical insurance coverage for those over 65.
  • Lower Acceptance: As an American Express card, it may have lower acceptance compared to Visa or Mastercard.

Scotiabank Gold American Express® Card vs American Express Gold Rewards Card®: When to go for one over the other


Annual Fees and Requirements

The Scotiabank Gold American Express card has a significantly lower annual fee compared to the American Express Gold Rewards card, with the latter nearly double the cost. Both cards cater to individuals with good to excellent credit, though the higher fee for the American Express Gold Rewards card may be a deciding factor for some. Scotiabank specifies a minimum personal income, while American Express does not outline specific income requirements.

Rewards Comparison

Both cards offer similar annual rewards, but their earning categories differ. The Scotiabank Gold American Express card offers higher rewards in everyday categories like groceries, dining, and entertainment. In contrast, the American Express Gold Rewards card focuses more on travel and broader categories like gas and drugstore purchases. While the rewards are comparable in value, the American Express Gold Rewards card often has a larger welcome bonus.

Reward Redemption Options

The American Express Gold Rewards card offers more flexibility in redemption compared to the Scotiabank Gold American Express. With American Express, you can convert points into statement credits, allowing you to use your rewards to directly pay off your balance, making it more versatile. Scotiabank’s redemption options include travel, merchandise, and groceries, but the lack of a statement credit option makes it less flexible overall.

Benefits and Insurance

Both cards provide extensive insurance coverage, but their benefits differ. The Scotiabank Gold American Express card shines with its no foreign transaction fee, offering significant savings on international purchases, making it ideal for frequent travelers looking to reduce costs. On the other hand, the American Express Gold Rewards card focuses on luxury travel perks, such as a $100 annual travel credit and lounge access, which appeal to those seeking premium experiences.

Conclusion

Although the annual rewards are similar, the key difference lies in the benefits and annual fee. The Scotiabank Gold American Express card, with its no foreign transaction fee, is a strong choice for those focused on saving money while traveling abroad. However, the American Express Gold Rewards card offers greater flexibility in how rewards can be redeemed, including the ability to turn points into statement credits. For those seeking luxury perks and flexible redemptions, the American Express Gold Rewards card, despite its higher fee, might be the better option.

Legal


*American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment. Check here for full details and current product information.
2 If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 28.99%.

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