Scotiabank Gold American Express Card
- APR
- 21.99% – 22.99%
- Annual Fee
- CA$120
- Rewards
- Up to 5.0%
- Sign-Up Bonus
- CA$45k
Earn 5x Scene+ points on groceries, dining, and entertainment with the Scotiabank Gold American Express Card, plus enjoy a generous sign-up bonus.
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Our Verdict
This card offers excellent rewards for frequent diners and entertainment seekers, but the high APR may deter those who carry a balance.
Pros
- 5x Scene+ points on groceries, dining, and entertainment
- First year annual fee waived
- Up to 45,000 bonus Scene+ points on sign-up
- Travel benefits and insurance coverage
- Flexible redemption options with Scene+
Cons
- High APR between 21.99% and 22.99%
- Annual fee of CA$120 after the first year
- Limited rewards on non-bonus categories
- Requires good to excellent credit for approval
- Amex acceptance can be limited in some areas
If dining out and entertainment are regular expenses, the Scotiabank Gold American Express Card shines with its 5x Scene+ points in those categories. This can quickly accumulate rewards, especially for avid foodies or moviegoers. The sign-up bonus of up to 45,000 Scene+ points, valued at around CA$850, can make the first year especially appealing.
However, potential cardholders should keep in mind the annual fee of CA$120 after the first year. This fee, along with a high APR of 21.99% to 22.99%, can make the card costly for those who may not pay off their balances in full each month. The limited rewards on other purchases earning only 1x points may also not satisfy those seeking broader earning potential.
Customer service experiences with Scotiabank are generally positive, but Amex acceptance can vary across Canada, particularly in smaller towns. If you're someone who predominantly uses cash or debit, the value of this card might diminish.
For those who travel often, this card includes travel insurance and benefits, which adds value. However, we would not recommend this card for anyone with a tendency to carry balances due to the potential for high interest accumulation. For those who can manage their spending, this card can be a rewarding tool in their wallet.
Who It's For
This card is designed for Canadians who prioritize dining and entertainment rewards and can pay off their balance each month.
Watch Out
The high APR makes this card less suitable for those who may carry a balance, as interest can accumulate quickly.
Summary
The Scotiabank Gold American Express Card offers strong rewards for specific categories but can be costly for those who don't pay off their balance regularly.
Best For
Ideal for those who frequently spend on dining and entertainment, looking to maximize rewards through Scene+.
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What Customers Say
Cardholders appreciate the robust rewards structure but express concerns about the high interest rates.
