Scotiabank American Express Card Review 2024

If we had to categorize the Scotiabank American Express, we’d call it a starter Amex card. It has Scene+ points, which really add up—because all you need to do is charge purchases to the card to earn them and there’s accelerated earning in popular spending categories.

Cardholders get 3 Scene+ points for every dollar spent on groceries at Sobeys, Safeway, Fresh Co. and other participating grocery stores. You’ll also earn 2 points per dollar at restaurants, fast food, drinking establishments (including popular food delivery and food subscriptions) and other eligible grocery stores as well as on gas, transit, entertainment and streaming. All other purchases get 1 Scene+ point for every dollar spent.

There’s no annual fee and no fee for supplementary cards. The downside is the interest rate of 19.99% on purchases and 22.99% on cash advances. Plus, it doesn’t include the typical perks Amex is known for and that come with other cards in their portfolio, like lounge access.

Still, with the ease of collecting and redeeming points, the Scotiabank American Express is a good card to consider. At the same time, we do still suggest having a Visa or Mastercard on hand to use at places that do not accept Amex, since it’s still not accepted everywhere (though the network is growing).

• No annual fee
• Welcome bonus of up to 5,000 Scene+ points
• Earn 3 points per dollar at Sobeys, Safeway, FreshCo. and other select grocery stores

Earning rewards

This card can easily accumulate valuable Scene+ points, especially if you spend a lot on groceries. Here’s how you earn rewards:

• Earn a welcome bonus of up to 5,000 Scene+ points when you open a new account by October 31, 2024:
  • Earn 2,500 Scene+ points by making at least $250 in everyday eligible purchases in your first three months
  • Earn 2,500 Scene+ points when you spend at least $1,000 in everyday eligible purchases in your first three months
• Earn 3 Scene+ points per dollat at Sobeys, Safeway, FreshCo or any of the other eligible retail chains
• Earn 2 Scene+ points per dollar at all other grocery stores
• Earn 2 Scene+ points per dollar on dining,  food delivery, drinking bars, transit, gas, entertainment and streaming purchases
• Earn 1 Scene+ point per dollar on all other spending

Redeeming Rewards

Redeeming rewards is pretty easy. You can do it online through Scotiabank Online or through the app. On the app, you’ll see the Scene+ logo. When you tap  it, you’ll see your points balance and ways to redeem them. Tap “browse the rewards catalog” and you’ll see nine categories: travel, movies, retail, grocery, dining, entertainment, gift cards, points for credit and pharmacy. Travel can be redeemed through Scene+ Travel, which is powered by Expedia.

Rewards Potential

The appeal of this card and other Scotiabank Scene+ credit cards is how easy it is to earn points. Plus, Scene+ points can be used towards a wide variety of items. Based on average Canadian spending, Forbes Advisor estimates you can earn up to $463.27 worth of points per year with this card.

Related: Best Rewards Credit Cards In Canada

• American Express Experiences: Get exclusive access like Front Of The Line Presale Tickets or reservations to in-demand concerts and special events.
• Discounts on Car Rentals: Up to 25% off base rates at participating AVIS and Budget locations in Canada and the U.S.
• Tap-and-Go Payments: Use your smartphone to pay via ApplePay.
• Supplementary Card: There are no annual fees on supplementary cards.

Mobile Device Insurance: Up to $500 in coverage if your cell phone, smartphone or tablet is lost, stolen, accidentally damaged, or experiences mechanical failure.
Purchase Security: Coverage against theft, loss or damage for 90 days.
Extended Warranty: Double the manufacturer’s warranty for up to one additional year.

Interest Rates

• Regular APR: 19.99%
• Cash Advance APR: 22.99%

Fees

• Foreign Transaction Fee: 2.5%
• Annual Fee: $0
• Any other fees: $0

• Estimated Credit Score: Good/Very Good
• Canadian Residency: Canadian Citizen/Resident
• Age of Majority: 18 or 19 years of age, depending on your province
• Minimum Income Requirements: $12,000 per year for individuals

Scotiabank American Express® card vs. Scotiabank Gold American Express® Card

The first difference is the fees. There is no annual fee or supplementary card fee for the Scotiabank American Express Card. The Scotiabank Gold American Express® Card has an annual fee of $120 (waived in the first year) and $29.99 for each supplementary card.

The rewards differ too. The maximum you can earn is 3 Scene+ points for every dollar spent at certain categories with the Scotiabank American Express Card but you can earn up to 6 Scene+ points with the Scotiabank Gold American Express® Card. Finally, the Scotiabank Gold American Express® Card crushes the competition with travel insurance included, unlike the Scotiabank American Express card, which doesn’t have any.

For the Scotiabank Gold American Express® Card, you have to be willing to pay an annual fee. However, if you can afford it, it’s worth it. Even with the annual fee factored in, the Scotiabank Gold American Express® Card earns $823.12 per year, nearly double the $463.27 earned by the Scotiabnk American Express. Plus, the Gold includes travel insurance and other valuable perks.

Scotiabank American Express® card vs. American Express® Green Card

These are both solid entry-level Amex cards. Both have no annual fee, and both earn rewards. American Express® Green Card holders can earn up to $278.51 a year based on the average Canadian spending, but the Scotiabank American Express Card has the potential to earn up to $463.27 in accumulated points value.

Now if you like to travel, the Green card might be preferable, as the Membership Rewards points can be transferred to several frequent flyer programs at a 1:1 ratio. Scene+ points are valued at 100 points per  dollar  towards travel. So either card is a great one to have, but if you like to travel, go with the American Express Green Card for the 1:1 travel value.

Related: Best American Express Cards

Scotiabank American Express® card vs. CIBC Aeroplan Visa

Both cards have no annual fee but the Scotiabank American Express Card wins with its rewards offering. The CIBC card has a similar amount of insurance coverage, offering auto rental collision and loss damage coverage, as well as purchase protection. Neither card offers travel insurance.

When it comes to rewards value the CIBC Aeroplan Visa earns an estimated $444 per year, slightly less than the Scotiabank American Express, which clocks in at $463.27.

When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With this card, the scoring model used takes into account factors such as, but not limited to, rewards rates and categories, fees, welcome bonuses, as well as other benefits and features. Keep in mind, what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.

This is a good starter Amex card and would work as your everyday card due to the points you could earn just by getting groceries and gas. Even if you max out the $50,000 spending cap, you still earn Scene+ points after that, just at a lower earn  rate. The downside is the high interest rate if you tend to carry a balance, plus some places don’t accept American Express cards.

Related: Best Credit Cards To Own in Canada