In May, 2019, Scotiabank announced a major overhaul (old v new comparison) of the Scotiabank Gold American Express card, starting August 1, 2019. The launch of the revamped card comes with an increased welcome bonus of up to 30K Scotia points, for new cardholders, until December 30, 2019.

Highlights of the changes to the card:

  • New card art
  • New welcome bonus of up to 30K ($300 in value)
  • Increased Annual Fee of $120
  • Earn 5X Scotia points on Grocery, Dining and Entertainment
  • Earn 3X Scotia points on Gas, Daily Transit and Select Streaming Services
  • Card will no longer charge Foreign currency conversion fee
  • Card will no longer offer Price Protection Service
  • Travel Emergency and Medical Insurance Coverage down to 3 days, for persons over 65 years of age
  • Trip Cancellation and Trip Interruption coverage down to $1500 per person

 

Review: Scotiabank Gold American Express Card – Apply Now 

 

  • Annual Fee: $120
  • Welcome Bonus: 30,000 Scotia Rewards® points with $1000 spend in first three months, additional 5,000 bonus with annual spend of $10,000 in everyday purchases 
  • Earning Rate:
    • 5X on Grocery, Dining and Entertainment (Canada only)
    • 3X Gas, Daily Transit, Select Streaming Services (Canada only)
    • 1X on all other purchases
  • Other Key Benefits:
    • No FX mark up – Foreign Currency Conversion Fee of 0%
    • Trip Cancellation and Trip Interruption Insurance: Coverage of $1,500 per person for eligible expenses (max $10,000 per trip)
    • Comprehensive Travel and shopping Insurance coverage
  • Redeeming Scotia Rewards® points
    • Book directly through Scotia Rewards® Travel Service (full-service travel agency): 1 cent a piece, 10,000 points for $100 and so on..
    • Book with ANY Travel Provider:  Apply points at 1 cent a piece
    • Redeem as Statement Credit: Redemption value can range from 0.6-0.8 cents per point
    • Convert to SCENE Points (or vice versa)
    • Redeem for gift cards, prepaid cards or other merchandise

Detailed list of benefits and perks of the card are listed here

Related Terms and Conditions (emphasis my own):

◊ For a limited time, open a new Scotiabank Gold American Express credit card account (the “Account”) and earn a one-time 25,000 Scotia Reward point bonus with your first $1,000 in eligible everyday purchases made within the first 3 months from the Account open date. Plus, earn an additional one-time 5,000 Scotia Rewards point bonus when you spend at least $10,000 in eligible everyday purchases in your first year (12-months). Each bonus offer is referred to as a “Bonus Offer” or collectively the “Bonus Offers”. Bonus Offers apply to new Accounts opened by December 30, 2019.

Bonus Offer Eligibility and Exclusions:
The following individuals are not eligible for the Bonus Offers:
• Current primary or secondary cardholders of a Scotiabank retail credit card, including those that switch from an existing Scotiabank retail credit card
• Previous primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years
• Employees of Scotiabank

Subject to the above exclusions, Scotiabank small business credit card holders are eligible for the Bonus Offers.

Bonus Offers may be changed, cancelled or extended at any time and cannot be combined with any other offers except as otherwise permitted.

Bonus Offer Conditions:
To be eligible for the 25,000 bonus Scotia Rewards points Bonus Offer you must:
• Have at least $1,000 in eligible purchases posted to your new Account in the first 3 months from the Account open date.
• Bonus Scotia Reward points will be credited to the primary cardholder’s Scotia Rewards account within 5 to 10 business days after the first 3 months has passed, provided the Account is open and in good standing at time of payout.

To be eligible for the 5,000 bonus Scotia Rewards points Bonus Offer you must:
• Have at least $10,000 in eligible purchases in your first year (12-months) on the Account (annual period starts from the Account open date).
• Bonus Scotia Rewards points will be credited to the primary cardholder’s Scotia Rewards account within two statement cycles after meeting the $10,000 annual spend on the Account, provided the Account is open and in good standing at the time of payout.

“Eligible purchases” include purchases (less any refunds, returns or other similar credits) and do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges.

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.

 

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