The credit card market in Canada is heating up just like the heat wave we've had for the past week here in Western Canada! The latest issuer to jump into to mix is Scotia with two new offers revealed today on their two primary Scotia Rewards cards - the Scotia Gold American Express Card and the Scotiabank Passport Visa Infinite card. In this post we'll look at the Gold Amex offer and follow up with a separate post on the Passport Visa offer.
The new offer for the Scotia Gold American Express Card sees a record high 50,000 bonus points coupled with no annual fee in the first year on primary and supplementary cards. Those 50,000 points are worth $500 towards any travel that you book via any method and charge to the card. The bonus is broken up into two separate requirements. the first 30,000 points are awarded when you spend at least $1,000 on the card in the first 3 months and then you can earn an additional 20,000 points when you spend at least $7,500 in your first year of having the card. Having no annual fees in the first year is a great way to try this card out to see if it is right for you and allows you to get full value out those 50,000 points!
Here's the direct wording from Scotia on how this is awarded:
To qualify for the 50,000 bonus Scotia Rewards points offer, make sure to:
- Open a new Scotiabank Gold American Express credit card account by August 31, 2021.
- Earn 30,000 bonus Scotia Rewards points by making at least $1,000 in everyday eligible purchases in your first 3 months from account opening.
- Plus, for a limited time, you are eligible to earn a 20,000 Scotia Rewards point bonus when you spend at least $7,500 in everyday eligible purchases in your first year.
Once you qualify, we’ll credit your account in 2 installments:
- 30,000 bonus Scotia Rewards points will be credited to your account within approximately 2-3 business days following the qualifying $1,000 in net purchases being posted to your Account in your first 3 months.
- 20,000 bonus Scotia Rewards points will be credited within approximately 2-3 business days after you have met the $7,500 annual spend threshold in your first year.
Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years, including those that switch from an existing Scotiabank retail credit card, as well as employees of Scotiabank, are not eligible for this offer.
The Scotiabank Gold American Express card is one of the best point earning cards in Canada with a true 5x points earn rate on select spending categories that equates to a 5% return when redeemed for travel. The card also features no Foreign Transaction fees which means you save 2.5% on average for any purchases made outside of Canada.
Here are the details on the card Rewards Canada ranks as the #1 Travel Points Credit Card in Canada:
• Earn 5 Scotia Rewards points for every $1 you spend at eligible grocery stores, dining and entertainment
• Earn 3 Scotia Rewards points for every $1 you spend at eligible
gas stations, daily transit, and select streaming services
• Earn 1 point for every $1 you spend on all other eligible everyday purchases
• No Foreign Transaction fees
• Complimentary Concierge Services 24/7
• Amex exclusive benefits (Front Of The Line)
• Use your points to purchase travel online or over the phone
through our full-service travel agency. Or book your own travel using
your card and go online to redeem points for the purchase.
•
Receive discounts and other special offers on hotels, airfare, car rentals, cruises and vacation packages.
•
Low price airfare alerts
•
Receive up to 25% off qualifying car rentals
•
Travel emergency medical coverage is automatically provided for eligible persons for up to 25 consecutive days
• Redeem points for merchandise and other rewards
This new increased welcome bonus offer is available on new applications made by August 31, 2021. You'll note that if you have or have had a Scotiabank credit card (including a supplementary card, don't recall ever seeing this before) in the past two years you are not eligible for this offer.
Learn more about and apply for the Scotiabank Gold American Express card here.
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