Last week we brought you the news that Scotiabank was raising the point requirements for select non-travel point redemption options - namely Points for Credit, Gift Cards and Apple/Best Buy Catalogues. In that post we stated the following:
"It really sucks when redemption rates get nerfed like this and it's taking place at a really bad time in the market. Looks like Scotia may be finding the increased earn rates on their Gold American Express card and No Foreign Transaction fees on their two most popular cards are cutting into their revenues and they need to make up for it elsewhere.
As many Canadians are going to be stretching their dollars over the next few months and many are hoping to have their points help them along the way it may be time for Scotia to provide some good will and postpone these changes until late summer or early fall when (hopefully) things are back to normal in this world."
And thanks to Rewards Canada reader Vino V. for letting us know that Scotia has decided not to go ahead with the planned changes on May 4! Here is what they have put on their site:
Update to Important Notice: We recognize that this is an uncertain time for everyone and are here to help our customers navigate this uncertain time. As of March 19th, 2020, we have made the decision to delay the changes to the Scotia Rewards point requirements for certain non-travel categories including Scotia Rewards Points for Credit, gift cards and Apple and Best Buy Catalogues. These changes described below will no longer take effect on May 4, 2020 and will be postponed until further notice.
Kudos to Scotiabank for making the decision to at least delay these changes so that their cardholders can make the most of their points at this time when it is most needed!
You can learn more about the now delayed changes here and also read our post about the changes.
Image via Scotiabank
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