Scotiabank Gold American Express Review



Annual Fee


Annual Rewards

40,000 points

Intro Offer


Annual fee


Annual rewards

40,000 points

Intro offer


  • 5x points on eligible grocery, dining, and entertainment purchases
  • 3x points on eligible gas, public transit, and streaming services
  • Flexible redemption options (travel, merchandise, gift cards, statement credit)
  • No foreign transaction fees
  • Comprehensive travel insurance
  • Access to airport lounges
  • Concierge service


  • $120 annual fee
  • American Express cards not as widely accepted
  • No dedicated rewards program (part of Scotia Rewards)
  • Minimum credit score required
  • High interest rate on purchases (19.99%)
  • Limited interest-free grace period (21 days)

How you earn rewards

Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With Scotiabank Gold American Express, here’s how you earn rewards:

Gas3 points
Groceries5 points
Restaurants / Delivery5 points
Specific Stores6 points
All Other Spend1 point

How much your rewards are worth

The dollar value of your rewards depends on the specific Scotiabank rewards program and what you choose to redeem your points for.

For Scotiabank Gold American Express in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:

Redemption methodAnnual rewards
Redeem for travel$588.00
Apply to statement credit$411.60
Gift cards$435.12
Grocery rewards$588.00
Restaurant rewards$588.00
Movie rewards$588.00
Apple / BestBuy$452.76

Calculating your annual rewards

$24,000.00 annual spending x $2.45% return on spending = $588.00 annual rewards

$588.00 annual rewards – $120.00 annual fee = $$468.00 net annual rewards

Details and eligibility

Do I qualify?
Estimated Credit Score725 – 759
Personal Income$12,000.00
Interest Rates
Cash Advance22.9%
Balance Transfer22.9%
Annual Fee$120.00
Extra Card Fee$0
Card typeAMEX

Insurance coverage

Extended Warranty1 year
Purchase Protection90 days
Travel Accident500000
Emergency Medical Term25 days
Emergency Medical over 653 days
Trip Cancellation1500
Trip Interruption1500
Flight Delay500
Baggage Delay1000
Lost or Stolen Baggage1000
Rental Car Theft & DamageYes
Hotel Burglary1000
Mobile Phone Insurance1000

Scotiabank Gold American Express Review

The Scotiabank Gold American Express credit card offers a robust rewards program and valuable benefits that appeal to a wide range of users. We’ve thoroughly analyzed its earning potential, benefits, and drawbacks to help you determine if it’s the right card for your needs.

Earning Potential: With the Scotiabank Gold American Express card, you can earn Scotia Rewards points on all purchases. You’ll receive 5 points per dollar spent on eligible grocery, dining, and entertainment purchases, 3 points per dollar spent on eligible gas, public transit, rideshare, and streaming services purchases, and 1 point per dollar spent on all other purchases. This tiered reward structure makes it an excellent choice for those who spend heavily in these categories.

Benefit 1: A major advantage of this card is the comprehensive travel insurance coverage it provides, including travel emergency medical insurance, trip cancellation and interruption insurance, flight delay insurance, baggage loss and delay insurance, and more. This can offer peace of mind for frequent travelers.

Benefit 2: Another significant benefit is the strong sign-up bonus offered to new cardholders. At the time of writing, new cardholders can earn up to 20,000 bonus points after spending $1,000 within the first three months. This can be a valuable motivation to choose this card over others.

Benefit 3: An added advantage is the no foreign transaction fee on purchases. Many credit cards charge a fee of around 2.5% on purchases made in foreign currencies, but with the Scotiabank Gold American Express card, you’ll save on those extra fees when making purchases abroad or online with international retailers.

Benefit 4: Enjoy exclusive access to popular events and experiences through the American Express Invites program, which includes presale tickets, reserved seating, and special offers for concerts, sporting events, dining experiences, and more.

Drawback 1: A significant drawback of this card is the annual fee of $120. While the benefits may outweigh the cost for many users, it’s essential to consider whether the card’s features will provide enough value to justify the fee.

Drawback 2: Another potential drawback is the limited acceptance of American Express cards at some merchants. While this is becoming less of an issue over time, it’s still essential to have a back-up payment option for instances where American Express is not accepted.

In conclusion, the Scotiabank Gold American Express card offers a competitive rewards structure, valuable travel benefits, and appealing perks. While there are certain drawbacks like the annual fee and acceptance limitations, the card’s advantages may still prove worthwhile for many users. As with any financial product, carefully evaluate your spending habits and preferences to determine if this card is right for you.

Not the right fit? You could consider the Scotiabank Value Visa Card. Or, if you’re looking for other options check out the Scotia Momentum Visa Card, and the Scotiabank Scene Visa Card.


The Scotiabank Gold American Express credit card allows cardholders to redeem their points for a variety of rewards. There are multiple redemption options available, including:

  • Travel Rewards: You can redeem points for flights, hotels, cruises, car rentals, vacation packages and more through the Scotia Rewards Travel Service.
  • Merchandise: A wide selection of brand-name merchandise, including electronics, kitchen gadgets, fashion accessories, and home appliances, can be redeemed with your points in the Scotia Rewards catalogue.
  • Gift Cards: Choose from an extensive variety of popular retailers, dining, and entertainment gift cards available in the Scotia Rewards catalogue.
  • Statement Credits: Apply your points as a credit to your account, thereby reducing your outstanding balance. This can be done in the form of a purchase or travel credit.
  • Convert Points: Scotiabank Gold American Express cardholders have the option to convert their points to SCENE points, which can be redeemed for movie tickets, snacks, and other entertainment options at participating Cineplex theatres.
  • Charitable Donations: Finally, if you wish to support a good cause with your rewards, you can choose to donate your points to select charitable organizations.

These various redemption options provide flexibility and value for cardholders looking to make the most of the points they earn with the Scotiabank Gold American Express credit card.

The Scotiabank Gold American Express credit card offers a significant advantage when it comes to foreign transaction fees. While most credit cards charge a fee of 2.5% on transactions made in a foreign currency, the Scotiabank Gold American Express card eliminates this fee altogether. This means cardholders can make purchases in any foreign currency without worrying about incurring additional charges on top of the exchange rate.

The Scotiabank Gold American Express credit card has a minimum income requirement of $12,000 for Canadian residents. This is an attainable requirement for most applicants, allowing a broader range of individuals to access this credit card’s benefits.

Key benefits

  • Earn up to 20,000 bonus Scotia Rewards points (offer expiry varies)
  • 1 point per $1 spent on all other eligible purchases
  • Points never expire as long as the account remains open
  • 0% intro APR for purchases during the first six months (then 19.99%)
  • Dedicated travel portal (Scotia Rewards Travel Service)
  • $50 fee for each additional authorized user
  • Emergency medical insurance (up to $1 million in coverage)
  • Trip cancellation/trip interruption insurance
  • Flight delay and lost baggage insurance
  • Rental car collision/loss damage insurance
  • Hotel/motel burglary insurance
  • Purchase security and extended warranty protection

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