Scotiabank Gold American Express Credit Card Review [Updated 2019]

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People who want a credit card that will help them maximize travel rewards are sure to love the Scotiabank Gold American Express card.

Cardholders earn four ‘Scotia Reward’ points on every $1 spent at gas stations, grocery stores, restaurants, and entertainment such as movies. They also earn 1 Scotia Reward point for every $1 spent on everything else.

Taken together, this allows the Scotia Rewards to pile up in a hurry, which is great for people who love to travel as the rewards points can be redeemed for travel through Scotia Rewards Travel Service, a full-service travel agency. And, cardholders can redeem their points for travel anywhere, anytime, with no travel restrictions.

The ability to accumulate travel rewards quickly and efficiently has led the Scotiabank Gold American Express card to be named the ‘Best Rewards Credit Card of 2017’ by multiple organizations.


  • Earn four reward points on every $1 spent at gas stations, grocery stores, restaurants, and entertainment such as movies
  • Earn bonus 15,000 reward points when you spend $1,000 within three months of opening an account
  • No travel restrictions


  • An annual fee of $99
  • Must spend $1,000 to get 15,000 bonus points
  • Must maintain a credit limit of at least $5,000 on the card


In addition to earning four time the rewards points for every single dollar spent on gas and groceries, cardholders also get 15,000 bonus points when they spend $1,000 or more on everyday purchases within three months of acquiring this credit card. That’s a nice chunk of Scotia Rewards points and will set people off on their journey to booking their next vacation completely on travel rewards points. Just keep in mind that you have to spend at least $1,000 to get the 15,000 bonus points. If you can’t pay that $1,000 off in a timely manner, it will accumulate interest and grow as a debt over time.



Unfortunately, there is an annual fee with the Scotiabank Gold American Express credit card. It is $99 a year, plus $29 charged for each supplementary card.

While it’s always nice when a credit card has no annual fee, $99 is pretty standard when it comes to Canadian credit cards and not as high as the $150 to $500 annual fee imposed on other travel rewards credit cards.

If you’re someone who really wants a travel rewards credit card, then the annual fee of $99 may prove worth it.


The annual percentage rate (APR), or interest charged, on the Scotiabank Gold American Express card is also standard at 19.99% on purchases and 22.99% on cash advances, balance transfers, and Scotia credit card cheques.

These are the interest rates you’ll find charged on most credit cards in Canada, and identical to the APR on all Scotiabank-issued credit cards.


To qualify for the Scotiabank Gold American Express credit card, you must be a Canadian citizen and at least 18 years of age. You must also have no major outstanding balances owing on other loans along with an annual gross income of $12,000. And, you have to agree to a minimum credit limit on the card of $5,000.

Again, these conditions are fairly standard when it comes to credit cards issued in Canada and are less onerous than some cards that require you to maintain a minimum salary level, which is used to screen out many applicants.


The Scotiabank Gold American Express card comes with a number of impressive added features that are focused on making travel as convenient and comfortable as possible. These include discounts on rental cars and hotel room upgrades, as well as access to medical insurance when traveling abroad, insurance against flight delays and lost baggage – even insurance against hotel burglaries.

This credit card also enables people to purchase extended warranties on their purchases and most items purchased with the credit card are protected in the event of a price drop within 60 days of purchase. Another nice feature with the Scotiabank Gold American Express credit card is that the rewards points can be converted into SCENE points and used to make purchases at movie theatres throughout Canada.


If you’re someone who feels credit cards should be used in emergency situations only, then the Scotiabank Gold American Express card is not for you. This is a credit card designed to help people travel throughout Canada and around the world.

It’s not a credit card designed to offer low fees and rock bottom interest rates. It encourages people to spend money to accumulate rewards points that they can use to book airline tickets, hotels, and rental cars.


A credit card worthy of comparison is the Scotiabank Platinum American Express card. The two credit cards are quite similar in that they are both focused on travel rewards and enable cardholders to earn an identical amount of Scotia Rewards in similar ways.

However, with the Platinum card you’ll earn double the bonus rewards at 30,000 just for signing up. You don’t need to spend a minimum amount to get the 30,000 bonus Scotia Rewards points either.

On the downside, the annual fee for the Platinum American Express credit card is more than double the annual fee found on the Gold card at $399. Plus, each supplementary card will cost you $99. And, you have to maintain a minimum credit limit of $10,000 on the Platinum card.


The Scotiabank Gold American Express credit card is one of the better travel rewards cards available in Canada. The opportunity to earn four rewards points for every $1 spent on everyday purchases such as gas and groceries is impressive. That said, there are some strings attached to this credit card in the form of an annual fee and the need to spend at least $1,000 to get the signup bonus of $15,000 reward points.

Still, if you dream of booking a dream vacation entirely on rewards points, then you’re likely to love this credit card. The fact that there are no travel restrictions is nice too.

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