Scotiabank
Earn up to $1,050 in value, no annual fee first year, enjoy up to 50,000 Scene+ points. 20.99% purchases, 22.99% cash advances. Leading welcome offer.
The Scotiabank Gold American Express Card currently offers one of the most attractive welcome offers in Canada. New applicants who spend $2,000 in the first 3 months can earn up to 50,000 bonus Scene+ points, which is valued at $500 towards travel. Additionally, there is no annual fee for the first year (normally $120), giving you a cost-effective opportunity to maximize rewards. The ongoing purchase interest rate is 20.99% and 22.99% for cash advances, which is standard for premium rewards credit cards.
How to Apply
Applying for the Scotiabank Gold American Express Card is straightforward. Gather your personal, financial, and employment information before beginning your application.
Start by completing the secure online application form. Provide details about your income to verify eligibility, as this card generally requires good credit history.
Once submitted, you may receive an instant decision. If approved, you’ll receive your card by mail within a few business days and can start earning rewards immediately.
Scotiabank also allows non-customers and newcomers to Canada to apply for this offer by visiting a branch. This flexibility makes the offer accessible to a wider audience.
Key Pros of the Card
The $1,050 welcome bonus value set this card apart. Frequent grocery shopping at participating partners can help you accumulate points quickly, as the card offers up to 6X Scene+ points at select stores.
With no annual fee in the first year, cardholders can take advantage of premium rewards and benefits without an upfront cost. Foreign transaction fees are also waived, a rare and valuable feature for travellers.
A Few Cons to Consider
The interest rates, while standard for this category of credit card, can be high for those carrying a balance. It’s best suited to individuals who consistently pay off their statements in full.
Additional cards for authorized users come with an extra fee after year one. Also, those looking strictly for cash back might prefer other Scotiabank cards specifically designed for that purpose.
Final Verdict
The Scotiabank Gold American Express Card stands out for its outstanding welcome offer, competitive earning rates, and flexibility for newcomers. Its comprehensive benefits represent an excellent value, especially in the first year. However, it’s important to consider whether you’re likely to maximize the rewards and pay your balance each month to fully benefit.