Assessment: Scotiabank Gold American Categorical® Card

The Scotiabank Gold American Categorical® Card has seemingly been flying below the radar of Miles & Factors fanatics. This isn’t too shocking on condition that the cardboard is tethered to the Scene+ program, which likewise doesn’t get fairly as a lot love as airline and resort loyalty packages like Aeroplan and Marriott Bonvoy.

Nonetheless, the Scotiabank Gold American Categorical® Card has a slew of nice advantages that shouldn’t be neglected – from its 5-6x incomes multiplier at grocery shops and eating places to its no overseas transaction payment characteristic, and extra.

On this assessment, we’ll take a deep dive into this underrated card.

What we love: no overseas transaction charges, nice home incomes charges, versatile Scene+ factors

What we’d change: apply incomes charges to overseas purchases, make Scene+ factors transferable

Low Earnings Requirement and Reasonably priced Annual Payment

One of many standout options of the Scotiabank Gold American Categorical® Card is its low minimal revenue requirement of simply $12,000 per yr, which is considerably decrease than the $60,000–$80,000 sometimes required for Visa Infinite or World Elite Mastercard merchandise.

This makes the cardboard accessible to college students, newcomers to Canada, or anybody beginning out in an entry-level or part-time job.

The $120 annual payment can be extra reasonably priced than most premium rewards playing cards in its class, lots of which cost $139 or extra. Higher but, the payment is commonly rebated within the first yr as a part of the welcome supply, decreasing the barrier to entry even additional.

Constant Welcome Bonus

The welcome bonus of the Scotiabank Gold American Categorical® Card constantly ranges from 40,000–50,000 Scene+ factors, which is price as much as $400–500 (all figures in CAD). The all-time excessive supply on the cardboard was for 50,000 Scene+ factors, and is at present out there.

Usually talking, a minimum of a part of the welcome bonus on Scotiabank’s suite of Scene+ playing cards has an easy-to-achieve minimal spending requirement, together with on the Scotiabank Gold American Categorical® Card.

The second half of the bonus is considerably harder to earn; nevertheless, the nice factor is that you simply normally have a full yr to satisfy the requirement, which you’ll stagger as wanted or fulfill all of it when you could have journeys overseas. In any case, as we’ll focus on beneath, this card doesn’t levy overseas transaction charges.

On a regular basis Incomes: One of many Finest within the Nation

A standout characteristic of the Scotiabank Gold American Categorical® Card is its accelerated incomes charges for purchases made inside Canada.

On home purchases, the cardboard earns Scene+ factors as follows:

• 6 Scene+ factors per greenback spent at Sobeys, IGA, Safeway, FreshCo, and different eligible Scene+ associate retailers†
• 5 Scene+ factors per greenback spent on groceries, eating, and leisure†
• 3 Scene+ factors per greenback spent on fuel, transit, and streaming companies†
• 1 Scene+ level per greenback spent on all different purchases†

There are solely a handful of playing cards that provide 5x rewards at eating places and grocery shops. In actual fact, amongst American Categorical playing cards, this card’s solely rival is the well-regarded American Categorical Cobalt Card.

Admittedly, the Cobalt Card earns higher rewards, since its Membership Rewards (MR) factors may be transformed to a handful of resort and airline packages, like Marriott Bonvoy and Aeroplan; nevertheless, the cardboard’s 5x “Eats and Drinks” spending class has a restrict of $2,500 a month, which you’ll simply breach when you’ve got an enormous household or spend some huge cash eating out.

In distinction, the Scotiabank Gold American Categorical® Card has an accelerated incomes restrict of $50,000 a yr, which is far greater than the Cobalt Card’s general restrict.

Plus, in the event you do your grocery purchasing at Empire Firm shops, equivalent to Sobeys, Safeway, and FreshCo, you’ll earn an additional Scene+ level per greenback spent, equivalent to a complete of 6% again in rewards.

The 3x incomes price on fuel, transit, and rideshares is nothing to scoff at both. This contains purchases on Presto in Ontario, Compass in Vancouver, and even Uber or Lyft rides.

Even higher, you’ll be able to later redeem Scene+ factors to offset many of those transit costs—extra on that within the redemption part.

One factor to notice in regards to the Scotiabank Gold American Categorical® Card is that it solely earns a flat price of 1 Scene+ level per greenback spent (after conversion) on overseas purchases. In different phrases, none of its accelerated incomes multipliers apply exterior Canada.

That’s one space the place its sister card, the Scotiabank Passport® Visa Infinite* Card, comes out forward, which earns 2 Scene+ factors per greenback spent (after conversion) on transit, groceries, eating, and leisure exterior Canada, regardless of additionally being a no-foreign-transaction-fee card.

Versatile Scene+ Factors: No Portals, No Complications

Scene+ factors may not have the glitz of airline or resort currencies, however they’re easy, versatile, and constantly useful.

You’ll be able to redeem them at a set price of 1 cent per level towards a variety of purchases, together with groceries, eating, accommodations, flights, automotive leases, public transit, and even rideshare companies like Uber and Lyft.

 

Clearly the redemption alternative of most curiosity for the Miles & Factors group is the flexibility to redeem Scene+ factors towards any journey buy charged to the cardboard at the usual price of 1 cent per level.†

What actually units Scene+ aside is that you don’t have to undergo a particular journey portal to unlock full worth.

You’ll be able to e-book instantly along with your most popular airline or resort, cost the expense to your card, after which redeem factors towards the transaction afterward, as much as 12 months.

This avoids inflated portal costs, restricted availability, and the headache of coping with a third-party customer support rep when plans change.

Personally, the largest perk of reserving direct is that you simply protect your resort elite standing advantages—one thing most third-party bookings strip away. Whether or not it’s room upgrades, free breakfast, or late checkout, you’ll nonetheless get pleasure from these perks once you e-book via the resort instantly.

Another fixed-value packages, just like the TD Rewards, scale back the redemption price in the event you don’t e-book via their proprietary portal. So that you’re compelled to decide on between dropping standing perks or accepting a weaker return in your factors.

Scene+ avoids that compromise solely.

Positive, this isn’t this system to make use of for reserving aspirational top quality flights or high-end luxurious accommodations. However for easy, versatile redemptions that truly match real-life spending, Scene+ will get the job accomplished.

Apart from journey, Scene+ factors can be redeemed at:

• Empire Firm grocery shops (Sobeys, Safeway, IGA, FreshCo, and so forth.)
• Cineplex (together with The Rec Room and Playdium)
• Residence {Hardware}
• Recipe Limitless eating places (Harvey’s, Swiss Chalet, Montana’s, and so forth.)
• Present playing cards, merchandise, and assertion credit (typically at a decrease redemption worth)

These non-travel redemptions gained’t at all times supply the identical degree of worth, however they do offer you added flexibility when wanted.

Complete Insurance coverage Protection

The Scotiabank Gold American Categorical® Card supplies complete insurance coverage protection that matches or exceeds related playing cards.

As a abstract, the cardboard supplies protection as follows:

• Journey emergency medical: As much as $1,000,000 per insured individual per journey (25 days for these aged 64 and below; 3 days for these aged 65 and over)†
• Journey cancellation: As much as $1,500 per insured individual or $10,000 per journey†
• Journey interruption: As much as $1,500 per insured individual or $10,000 per journey†
• Flight delay: As much as $500 per insured individual per journey†
• Delayed/misplaced baggage: As much as $1,000 per journey†
• Resort/motel housebreaking: As much as $1,000 per housebreaking incidence†
• Rental automotive collision/loss injury: 48 days; restricted to autos as much as $65,000 MSRP†
• Widespread provider journey accident: As much as $500,000 per insured individual or $1,000,000 per incidence†
• Cell system insurance coverage: As much as $1,000†
• Buy safety and prolonged guarantee: First 90 days from date of buy within the occasion of loss, theft, or injury; doubles the unique producer guarantee interval for as much as one further yr†

The cardboard’s journey emergency medical protection is especially notable, because it affords 25 days of protection for these 64 and below, whereas different related playing cards normally restrict their protection to solely 15 days.

What Else Does the Card Supply?

The Scotiabank Gold American Categorical® Card comes with a loads of nice advantages that make it stand out from different playing cards that fall inside the similar annual payment value vary.

No International Transaction Charges

One of the interesting journey options is that this card doesn’t cost overseas transaction charges, saving you 2.5% on each buy made in a forex apart from CAD.

Sure, it’s an Amex, and sure, acceptance can range—particularly in sure components of Europe or at small unbiased outlets. However you’d be shocked how broadly it’s accepted in nations like Vietnam, Indonesia, and South Korea, particularly at chain retailers or accommodations. When unsure, at all times pack a Visa or Mastercard backup.

Amex Affords

As an American Categorical card, the Scotiabank Gold American Categorical® Card can be eligible for Amex Affords, which allow you to earn assertion credit or reductions at taking part retailers.

The annual Store Small marketing campaign is at all times a spotlight (properly, a minimum of it was once), and different affords all year long can simply assist offset the annual payment with out a lot effort. Simply make certain to test your affords usually, as a number of the greatest ones disappear quick.

Concierge Service by Ten Way of life

A remaining characteristic that’s additionally price noting is the cardboard’s concierge service supplied by Ten Way of life.

Positive, related Visa and Mastercard merchandise present concierge companies as properly, however the service being provided by Ten Way of life is extra devoted and customized.

Ten Way of life’s concierge service can help you in reserving eating places, making journey reservations, sourcing customised gifts, and extra – and never simply inside Canada, but additionally elsewhere on this planet. As a matter of reality, the service has specialists for every geographic area, who present customized suggestions.

Different Playing cards to Think about

There’s quite a bit to like in regards to the Scotiabank Gold American Categorical® Card, however there are additionally related choices to contemplate.

Scotiabank Passport® Visa Infinite* Card

The primary purpose to contemplate the Scotiabank Passport® Visa Infinite* Card over the Gold Amex is wider international acceptance, since Visa is accepted in additional locations than American Categorical—particularly in Europe or at smaller retailers overseas.

Past that, its greatest edge is the included Visa Airport Companion Program with six complimentary lounge visits per yr, which is usually a good journey perk in the event you’re flying just a few instances yearly and don’t have one other lounge entry card.

That mentioned, the cardboard’s incomes charges are decrease general:

• 3 Scene+ factors per greenback spent at Sobeys, IGA, Safeway, FreshCo, and different eligible Scene+ associate retailers
• 2 Scene+ factors per greenback spent on transit, groceries, eating, and leisure
• 1 Scene+ level per greenback spent on all different purchases

As talked about above, this card’s elevated 2x incomes price for transit, groceries, eating, and leisure applies to transactions denominated in foreign currency as properly.

Whereas that 2x overseas may be helpful, it’s not practically as robust because the 5–6x charges provided by the Scotiabank Gold American Categorical® Card inside Canada.

If lounge entry and common acceptance are priorities, this card may very well be an excellent complement—however for many home spending, the Gold Amex nonetheless comes out forward.

American Categorical Cobalt Card

Equally to the Scotiabank Gold American Categorical® Card’s 5x class multiplier for groceries, eating, and leisure, the American Categorical Cobalt Card affords 5 Membership Rewards (MR) factors per greenback spent at eating places, bars, supply companies, and grocery shops.

However as talked about, this 5x “Eats & Drinks” elevated incomes price is proscribed to the primary $2,500 spent every month. After exceeding this restrict, you’ll earn 1 MR level per greenback spent.

What might make the Cobalt Card extra engaging to you is that it earns Amex Membership Rewards factors, which may be transferred to Aeroplan, Marriott Bonvoy, Delta SkyMiles, Air France KLM Flying Blue, and the The British Airways Membership, amongst different useful loyalty packages.

Nonetheless, take into account that the Cobalt Card tacks on a 2.5% overseas transaction payment once you’re travelling overseas, so you might take into account pairing it with the Scotiabank Gold American Categorical® Card to have all of your bases lined at dwelling and overseas.

Conclusion

The Scotiabank Gold American Categorical® Card is without doubt one of the most underrated bank cards in Canada.

It affords options that deserve extra consideration, particularly its robust home earn charges of as much as 6% again, and its uncommon perk of no overseas transaction charges, saving you 2.5% on each buy overseas.

What makes it particularly interesting is how accessible it’s. With a modest $12,000 revenue requirement and an annual payment that’s typically rebated within the first yr, this card punches properly above its weight for college students, newcomers, or anybody simply beginning out within the Miles & Factors recreation.

Positive, it’s not the very best card for enterprise class flights or luxurious resort redemptions—however that’s not what it’s making an attempt to be.

It’s a one-size-fits-all sort of card that matches the best way most of us truly spend.

†Phrases and situations apply. Scotiabank will not be liable for sustaining the content material on this web site. Please click on on the Apply Now hyperlink for the freshest data.