In today’s financial landscape, selecting the right credit card is more than just a convenience—it’s a significant financial decision.
With numerous options available, narrowing down the best choice can be overwhelming. Among the top contenders in Canada’s banking scene is ScotiaBank, renowned for its diverse offerings tailored to cater to a broad spectrum of needs.
In this article, we will delve into the best ScotiaBank credit cards available in Canada for August 2023, assessing their benefits, rewards, and suitability for different spending habits.
What is the best ScotiaBank credit card?
The best ScotiaBank credit card is the Scotiabank Gold American Express because it offers a competitive rewards rate, especially on dining, groceries, gas, and entertainment purchases. Cardholders benefit from no foreign transaction fees, comprehensive travel insurance, and exclusive American Express Invites. Combining these perks with a relatively low annual fee makes it a standout choice for those prioritizing rewards and travel benefits.
The Scotiabank Gold American Express stands out as a top-tier card for those who prioritize rewards on everyday spending. One of its major draws is the generous points system. With this card, users can earn a remarkable 5x points on eligible purchases related to grocery, dining, and entertainment. This means that every time you dine out, pick up groceries, or enjoy a movie, you’re accumulating points at a rapid rate.
But the rewards don’t stop there. For those frequently on the move, whether commuting to work or going on road trips, the card offers 3x points on eligible gas and public transit expenses. Plus, in today’s digital age, streaming services have become a staple for many. Recognizing this, the Scotiabank Gold American Express grants 3x points for these services as well.
Beyond the impressive points system, the card offers flexibility in how you redeem those hard-earned points. Whether you’re looking to book a vacation, get your hands on some coveted merchandise, opt for gift cards, or simply wish to offset your statement balance, this card caters to your preferences. For the avid traveler, not only does the card waive foreign transaction fees, but it also provides comprehensive travel insurance for peace of mind during your journeys. The added luxury of access to airport lounges and a dedicated concierge service further enhances the premium experience this card promises.
Best ScotiaBank Perks Card
The Best ScotiaBank Perks Card is the Scotiabank Passport Visa Infinite because it offers exceptional travel rewards, no foreign transaction fees, and premium insurance coverage. Cardholders enjoy priority airport lounge access with a complimentary Priority Pass membership, along with accelerated points on everyday spending. Its competitive annual fee is often offset by its rich rewards and benefits, making it a top choice for frequent travelers and those who shop internationally.
The Scotiabank Passport Visa Infinite stands out as a remarkable choice for frequent travelers and those who appreciate exceptional perks. One of the card’s most notable features is its lack of foreign transaction fees, ensuring that you won’t be hit with unexpected charges when shopping abroad. If you find yourself often waiting at airports, the six free lounge visits annually will undoubtedly come in handy, offering a touch of luxury during your travels. This is further enhanced by the included Priority Pass lounge membership, granting you access to a vast network of premium lounges globally.
When it comes to earning rewards, the Scotiabank Passport Visa Infinite doesn’t disappoint. Cardholders will enjoy 2x Scotia Rewards points on a range of everyday expenses, including dining out, catching a movie or show, grocery shopping, and daily transit. This makes it easier than ever to accumulate points on the purchases you make regularly. For all other expenditures, you’ll earn a consistent 1x Scotia Rewards point for every dollar spent, ensuring that every purchase moves you closer to your next reward.
Additionally, those considering this card will be enticed by the generous welcome bonus. New cardholders can earn up to 35,000 Scotia Rewards points, providing a substantial head start in the rewards journey. And if the inevitable uncertainties of travel have you concerned, rest easy knowing that the card comes with comprehensive travel insurance benefits, covering a range of potential mishaps, from trip cancellations to medical emergencies. In essence, the Scotiabank Passport Visa Infinite is not just a credit card; it’s a passport to a more rewarding and comfortable travel experience.
Best ScotiaBank Cashback Credit Card
The Best ScotiaBank Cashback Credit Card is the Scotia Momentum Visa Infinite because it offers a high percentage of cash back on everyday purchases, including groceries, gas, and recurring bill payments. With a comprehensive insurance package, travel benefits, and exclusive dining and wine experiences, cardholders get both value and luxury. Its competitive annual fee is often waived for the first year, making it a top choice for those seeking substantial rewards without the high costs.
The Scotia Momentum Visa Infinite emerges as a standout option for those who prioritize rewards. One of its most attractive features is the generous cash back system. When using this card for grocery store purchases and recurring bill payments, cardholders enjoy a lucrative 4% cash back. This means that essential expenses not only become more manageable but also rewarding.
On the go? Fueling up your car or using daily transit has never been more beneficial. The card offers 2% cash back for both gas and everyday transit expenses. For everything else, from that spontaneous online shopping spree to your favorite coffee shop’s latte, you’ll earn 1% cash back. What’s even more enticing is that there’s no ceiling; you can earn unlimited cash back with no restrictions.
But the benefits don’t stop at cash back. The Scotia Momentum Visa Infinite takes care of you during your travels too. Complimentary travel insurance ensures that unexpected hiccups don’t derail your trip. And in this digital age, where our smartphones are practically extensions of ourselves, the card’s mobile device insurance coverage is a boon, offering peace of mind against potential mishaps.
Lastly, it’s not just about spending and saving. It’s about experiences. With 24/7 concierge service at your fingertips, planning or getting recommendations becomes a breeze. Special access to unique dining, entertainment, and travel experiences further elevates the card’s offerings, making it more than just a financial tool but a key to richer, more memorable moments.
Best No Fee ScotiaBank Credit Card
The Best No Fee ScotiaBank Credit Card is the Scotiabank American Express because it offers cardholders a compelling mix of travel rewards, purchase protection, and extended warranty benefits. With its competitive earn rates on everyday purchases, coupled with no annual fee, it provides an attractive option for those seeking value without added costs. Additionally, its acceptance at a wide range of merchants and access to exclusive American Express events makes it a standout in the no-fee category.
The Scotiabank American Express card starts strong by offering new cardholders an enticing 5,000 welcome bonus points after their first purchase. This initial boost is just the beginning of the card’s competitive advantages. For every dollar spent using this card, users will accrue a reward point, ensuring that regular purchases can quickly add up to meaningful rewards.
A significant draw for many is the absence of an annual fee, making it an economical choice for those who wish to maximize their card benefits without the burden of yearly charges. But the advantages don’t stop there. For travelers, the flexibility offered by this card is unparalleled. Cardholders can redeem their points for travel without the usual hassles – there are no blackout dates or restrictions to contend with. This means you can travel whenever you wish, using your points without any limitations.
Beyond its financial perks, the card also serves as a key to exclusive experiences. Through the American Express Invites program, cardholders gain access to a range of exclusive events, allowing for memorable outings and experiences. Lastly, for those considering a balance transfer, there’s another benefit to consider. The Scotiabank American Express offers an introductory interest rate of just 7.99% on balance transfers, making it a viable option for those looking to consolidate and manage their credit.
Scotia Momentum Visa
The Scotia Momentum Visa stands out as a popular choice for those who prioritize cash back rewards on their everyday spending. One of its most attractive features is the ability to earn 2% cash back on eligible grocery purchases and recurring bill payments. This rate is particularly beneficial for households that find a significant portion of their monthly expenditure dedicated to groceries and regular bills
In addition to the 2% rate on specific categories, users also benefit from a 1% cash back on all other eligible purchases. This ensures that every swipe of the card contributes to tangible rewards. What’s more enticing for newcomers is the absence of an annual fee for the first year, making it easier to test the card’s value without the upfront cost. For those considering the transfer of an existing credit card balance, the Scotia Momentum Visa offers an introductory interest rate of just 2.99% on balance transfers for the first six months. This can translate to considerable savings for individuals looking to manage their debt. Beyond these financial advantages, cardholders also have access to an array of Visa perks and benefits, further enhancing the overall card experience.
Scotiabank American Express Platinum
The Scotiabank American Express Platinum card stands out as a premier choice for individuals who prioritize both rewards and travel. At its core, this card offers a comprehensive rewards program that allows cardholders to earn on their everyday purchases, enhancing the overall value of their spending. But where it truly shines is in its travel-related perks. For those who often find themselves on the go, the extensive travel insurance coverage provided by the card can be a game-changer, offering peace of mind during trips.
Additionally, the flexible point redemption options give users the liberty to choose how they wish to utilize their accumulated rewards, ensuring they get the most out of every point. Enhancing the travel experience further, cardholders are treated to a comprehensive concierge service, ready to assist with various tasks and arrangements, making journeys smoother. One of the standout features, especially for those who often transact internationally, is the absence of foreign transaction fees, ensuring purchases abroad don’t come with any hidden costs. Lastly, the cherry on top for frequent flyers is the access to select airport lounges, elevating the travel experience by providing a touch of luxury and comfort during layovers or waiting times.
Scotiabank L’earn Visa
For students taking their first steps into the world of personal finance, the Scotiabank L’earn Visa stands out as a worthy companion. With no annual fee, it provides an affordable entry point, especially for those who are just beginning to build their credit history. Its design specifically caters to students who might have little or no prior credit experience, making it a great starting point for many.
One of the standout features of this card is its ability to earn cashback rewards on all purchases. This means that with every swipe, tap, or online transaction, students can get a percentage back, helping them save in the long run. Even better, the hassle of redeeming rewards is eliminated, as the cashback is automatically applied as statement credits. This ensures that the savings are straightforward and effortless. Additionally, responsible financial behaviors are rewarded. After six months of timely payments and judicious use, there’s a possibility of a reduction in interest rates, promoting good financial habits from the get-go. And in our fast-paced, digital world, the Scotiabank L’earn Visa doesn’t lag behind. It offers mobile wallet integration and contactless payment options, ensuring seamless and quick transactions for its users.
Scotia Momentum for Business Visa
The Scotia Momentum for Business Visa is a top choice for businesses in search of valuable cash back rewards. One of its standout features is the generous cash back rate of 3% on several everyday business expenses. Whether you’re filling up the tank, dining out with clients, stocking up on office supplies, or handling recurring payments, this card ensures you get more value for every dollar spent.
But the benefits don’t stop at cash back. Recognizing the diverse needs of businesses, ScotiaBank provides a discretionary credit limit. This flexibility means that individual employees can have customized credit limits, ensuring financial control tailored to each person’s role and responsibility. In the realm of protection, the card doesn’t disappoint either. It comes packed with comprehensive insurance coverage that spans from travel to purchase protection and even an extended warranty, ensuring peace of mind for your business transactions.
Online shopping is made simpler and more secure with the optional VISA Checkout account. This feature speeds up the online payment process, ensuring safety and convenience for every transaction. Importantly, the card is designed to be inclusive. There’s no minimum income requirement, making it accessible to businesses of all sizes, from startups to established enterprises. Lastly, the cost structure is straightforward and manageable. The annual fee for the primary cardholder is set at $49, and for each additional card, it’s just $29, ensuring affordability without compromising on benefits.
Scotiabank Passport Visa Infinite Business Card
The Scotiabank Passport Visa Infinite Business Card stands out as a top choice for both frequent travelers and business professionals. One of its most notable features is the absence of foreign transaction fees. This means that when you’re abroad or making international purchases, you won’t be hit with those extra charges that can quickly add up. On top of that, new cardholders are greeted with a generous welcome bonus of 30,000 Scotia Reward points, giving them a head start in maximizing the card’s benefits.
When it comes to earning reward points, this card doesn’t disappoint. For everyday purchases, users receive 1.5 Scotia Reward points for every dollar spent. But for those who are often on the move or making business-related expenses, there’s an added incentive: 2 points are earned for every dollar spent on eligible travel and business expenses. Beyond the points, frequent travelers will appreciate the complimentary airport lounge access, offering a touch of luxury and comfort during their journeys. Additionally, the card provides travel insurance coverage, ensuring that cardholders have peace of mind while on the go, knowing they are protected against unexpected events.
Scotia Momentum No-Fee Visa
The Scotia Momentum No-Fee Visa Card stands out as a popular choice for those looking to maximize rewards without incurring an annual fee. One of its primary attractions is the 1% cash back on frequent expenditure areas such as gas, groceries, drugstore items, and recurring bill payments. This ensures that everyday spending translates into tangible rewards. Additionally, for all other purchases, cardholders can still benefit from a 0.5% cash back, making no transaction truly unrewarded. For individuals who are new to the card, there’s a bonus of an introductory 7.99% interest rate on purchases for the first half-year. This can be especially beneficial for those planning significant purchases in the near future. Beyond cash back, the card offers practical benefits like purchase protection and extended warranty coverage, which add an extra layer of security to your shopping. If you’re looking to share the benefits with family or friends, the card allows for free supplementary cards. Furthermore, for those who rent cars frequently, the rental car collision/loss damage insurance can be a lifesaver.
However, while the Scotia Momentum No-Fee Visa Card has several advantages, it’s not without its downsides. The cash back categories are limited, which means if your major spending doesn’t align with the specified areas, you might not reap as much in returns. The 0.5% cash back rate on non-category spending, although beneficial, is on the lower side compared to some other cards in the market. And for those who have wanderlust or travel frequently, this card might not be the best fit as it lacks travel benefits or specific rewards catered to globe-trotters.
Scotiabank Momentum MasterCard
The Scotiabank Momentum MasterCard stands out as a solid choice for those who prioritize straightforward rewards and minimal fees. One of its strongest attributes is the absence of an annual fee, making it an appealing option for cardholders who wish to keep their costs down. Every purchase made with this card earns a consistent 1% cash back, ensuring that cardholders benefit from every transaction. New users get an added advantage with an introductory interest rate of 7.99% on purchases for the initial six months, providing a more affordable start. In addition, being a part of the Scotia Rewards program means cardholders can enjoy a variety of discounts and savings on a range of products and services. Safety is also emphasized, with zero liability protection ensuring that users are not held responsible for any unauthorized transactions. And, as a Mastercard, it boasts worldwide acceptance, ensuring convenience no matter where you are.
However, it’s essential to note that the card does have its limitations. The 1% cash back, while consistent, is limited when compared to other cards on the market that may offer higher returns. Additionally, the Scotiabank Momentum MasterCard doesn’t feature any bonus categories that would allow cardholders to earn extra cash back on specific types of purchases. This might be a drawback for those who spend heavily in particular areas and are looking to maximize their rewards.
Scotiabank Scene Visa Card for Students
The Scotiabank Scene Visa Card for Students stands out as a distinctive choice for young individuals venturing into the world of credit cards. One of its primary attractions is the absence of an annual fee, making it a cost-effective option for students who are often on a tight budget. Moreover, students can begin to gather Scene points through their routine purchases, which can later be redeemed for a range of rewards, including movie tickets and meals. For those who enjoy hitting the road, there’s an added advantage: the card offers discounts on car rentals at certain AVIS locations. Additionally, making that first purchase with the card puts a welcome bonus of 2,500 Scene points in the user’s account, though there are conditions to keep in mind. Importantly, this card is designed with students in mind, meaning no prior credit history is necessary to qualify.
However, it’s essential to be aware of some limitations. The rewards are primarily centered around the Scene program, which might not cater to everyone’s preferences. The rate at which Scene points accumulate is relatively low, and the card doesn’t offer any cash back or travel rewards. This makes it less appealing to those who aren’t regular moviegoers or don’t often dine at Scene-affiliated establishments. All in all, while the card offers some unique perks, it might not be the best fit for everyone.
Scotiabank Scene Visa Card
The Scotiabank Scene Visa Card has made a name for itself among movie and entertainment enthusiasts. One of its standout features is the absence of an annual fee, making it an attractive option for those wary of extra charges. For moviegoers, spending at participating Cineplex theatres yields a rewarding 5 Scene points for every dollar, turning every film outing into a point-gathering fest. But the card doesn’t stop at cinema-related expenses; every other purchase earns you a Scene point per dollar, ensuring that your everyday expenditures contribute to your rewards pool.
Redeeming these accumulated points is where the fun begins. From catching the latest blockbuster to enjoying a meal out, the Scene points can be traded in for a variety of entertainment and dining experiences. New cardholders are in for a treat too; a generous welcome offer adds 2,500 bonus points to your tally after your first purchase. The Visa payWave technology integrated into the card ensures swift, contactless payments, adding a layer of convenience. Plus, the Scotia Credit Card Protection offers an added sense of security. If you’re on the move, a 20% discount on AVIS car rentals can come in handy.
However, it’s essential to note a few limitations. The card’s reward system is anchored to the Scene program, which might not appeal to those looking for more diverse reward options. While it’s decent for movie-related purchases, there are other credit cards in the market that potentially offer higher reward rates on general buys. Furthermore, travel enthusiasts might be left wanting, as the card doesn’t boast any additional travel-related perks or insurance coverage.
Scotiabank Value Visa Card
The Scotiabank Value Visa Card stands out for those who prioritize saving money over collecting rewards. One of its major advantages is the low annual fee, which means cardholders can enjoy its benefits without shelling out a lot each year. Coupled with this is a competitive purchase interest rate, ensuring that if you do carry a balance, it won’t accumulate interest too rapidly. For individuals seeking to consolidate their debts, the card offers a notable balance transfer promotion, providing a helpful tool in managing finances. Additionally, getting your hands on this card is relatively hassle-free, given there’s no minimum income requirement.
However, the card does come with a trade-off. Unlike many other cards in the market, the Scotiabank Value Visa Card doesn’t offer rewards or cash back on purchases. This might be a deterrent for those who spend a lot and are looking to earn while they spend. On the brighter side, cardholders aren’t left entirely without perks. With access to Visa benefits, users can take advantage of various discounts and insurance options, adding a layer of convenience and security to their financial journey.
How did we rank these Scotia cards?
We collected an enormous amount of data for every credit card in our system, with 100+ pieces of data for each card.
Using this data, and what we believe is an average breakdown of monthly spending habits, we’re able to predict the rewards that you would earn using each credit card. We then consider other reviews, our personal experience and the commission that we earn on referrals to decide how to rank them.
Factors in our data include:
- annual fees
- welcome bonuses
- interest rates
Our goal is to be as impartial as possible and as a business the referral fees we earn do play a small role in our rankings, or whether a card is included on the site at all.