Scotiabank Canada: Credit cards with many benefits and easy approval.
Scotiabank is a Canada-based international bank that provides full banking and financial services to Canadian and international customers through over 900 branches, as well as an online banking platform.
Along with top Scotiabank savings and chequing accounts, business banking, and wealth management, Scotiabank offers one of the biggest ranges of credit cards in Canada. Scotiabank credit cards include many kinds of reward cards and cashback cards from all three major processors in Canada: Mastercard, Visa, and Amex.
Scotiabank (originally called the Bank of Nova Scotia) is technically older than Canada itself. Founded in Halifax in 1832, the bank beat Confederation by 35 years.
With that amount of history in the business, it’s no surprise the bank can offer and support a wide variety of products—including 18 credit cards—tailored to various financial needs and goals. Read on to determine the best Scotiabank offers in a selection of categories from travel, to cash back, to perks.
The Scotiabank Gold American Express Card is one of the best credit cards in Canada. It earns 5 points per dollar spent on groceries, restaurants, and entertainment, the highest rates in those categories on any credit card. Also, you’ll earn 3 points per dollar spent on gas, transit, and select streaming services, among the best rates around.
Of course, high rewards rates are only as good as the rewards themselves, and in that respect Scotiabank delivers as well.
Scotia Rewards are extremely easy to use for statement credit. You can cover just about any travel expense at a fixed rate. With transparent value and unparalleled flexibility, just about anyone would benefit from having this card.
Not to mention, the card is currently offering its highest-ever welcome bonus. You can earn up to 50,000 Scotia Rewards points with a first year annual fee waiver if you apply for the card before January 1, 2022. If you’ve been eyeing this card as a daily driver, now’s the best time to get on board!
While the bank has a few options when it comes to collecting travel rewards, our top pick is the Scotiabank Gold American Express. The $120 annual fee is well worth it for the card’s earn rate, welcome bonus and perks, including no foreign transaction fees.
Card holders will accumulate a generous 5 points per $1 at eligible grocery stores, restaurants and drinking establishments, and on entertainment, like movies.
Gas and transit get 3 points per $1 as does select streaming services like Netflix, and everything else earns at 1 point per $1.
And Scotia gets your rewards bank off to a great start with the possibility to earn up to 50,000 Scotia Rewards in your first year. For those who cross-border shop or travel, this is like an automatic 2.5% to 3.0% savings on each purchase in a foreign currency. Additionally, a suite of travel-related insurance coverage sweetens the deal.
The Scotiabank Platinum American Express Card is a step up from its Gold counterpart, although whether or not you’ll benefit depends on your spending habits.
The Scotia Platinum Amex earns 4 points per dollar spent on groceries, gas, dining, and entertainment. This is less than the Scotia Gold Amex in most categories, so you’d only be coming out ahead if you spend significantly more on gas.
On the other hand, this card has an extremely high limit of $100,000 spent per year before capping the bonus earn rates.
This is double the limit on the Scotia Gold Amex and much higher than competitor cards. If you’re an ultra-high spender and expect to spend in the $50,000–100,000 range in the accelerated categories, it might be worth making the jump up to this top-tier card.
Regardless of rewards, the $399 annual fee is really justified by the card’s travel benefits. You’ll get a Priority Pass membership with 10 free visits annually to their lounges and restaurants, and out-of-province medical insurance for up to 31 days if you’re under 65, or up to 10 days for people of all ages.
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