Top 4 Benefits Of The Scotiabank Gold American Express Card

The Scotiabank Gold American Express card ranks as one of the best travel rewards cards in Canada. With rewards rate of up to 4% on multiple categories of spending, sign-up bonus and comprehensive travel insurance.

Also, the scotia rewards points you’ll earn with this card can easily be redeemed for travel bookings, merchandise, gift cards, and much more. For a limited time only, when you apply for a new Scotiabank Gold American Express card and spend up to $1,000 in your first 3 months, you will earn 15,000 bonus points which is approximately $150 in value.

Benefits Of The Scotiabank Gold American Express Card

1. Sign up bonus: Earn 15,000 bonus Scotia Rewards points when you spend $1,000 in the first 3 months as a new cardholder.

2. Earn rewards on your spending: Earn 4 Scotia Rewards points on every $1 you spend in four categories (gas, groceries, dining, and entertainment) and earn 1 Scotia Rewards point for every $1 you spend on all other purchases.

3. Comprehensive travel insurance with coverage including:

  • Travel emergency medical of up to $1 million. This coverage is provided to individuals who are under 65 years for up to 25 consecutive days and if you are 65 years or older, your coverage is for up to 10 consecutive days.

  • Trip cancellation/trip interruption insurance – up to $2,500 per person and a maximum of $10,000 per trip.

  • Flight delay insurance.

  • Delayed and lost baggage insurance up to a maximum of $1,000.

  • Travel accident insurance up to a maximum of $1million per incident.

  • Rental car collision loss and damage insurance with coverage for up to 48 consecutive days and up to $65,000 MSRP value.

  • Hotel/motel burglary insurance

4. Other perks and rewards offered by the Scotiabank Gold American Express Card:

  • Purchase security for up to 90 days.

  • Extended warranty for up to an additional 1 year.

  • Purchase price protection service for up to 60 days.

  • Discounted Priority Pass membership (35% discount) for access to over 600 VIP airport lounges around the world.

  • 24 hours Best Price Guarantee on airline tickets when you book through the Scotia Rewards Travel site or one of their representatives. Savings are also available on car rentals, vacation packages, cruises, and more.


Scotiabank’s 4% Reward Rate and Cash Back Value

The 4% reward rate offered by this card on your gas, groceries, dining, and entertainment spending is one of the best among travel rewards and cash back cards. The average household spends a lot of money on these categories every month, so it is easy to take advantage of the 4% rewards points.

For example, if you spend a realistic $800 every month on groceries, gas, and restaurants, your annual rewards points at 4% are 38,400 points or a $384 value!

There is an annual cap of $50,000 that you can earn 4 points/$1 on when spending on the above categories. After you exceed this annual spending, you start earning 1 point/$1.

The Scotiabank Gold Amex comes with a $99 annual fee. The initial sign-up bonus of 15,000 Scotia Rewards points (worth $150) more than covers your annual fee for the first year. Most cardholders will be able to claim this bonus based on the reasonable offer requirement to spend $1,000 within the first 3 months.

In addition, the comprehensive travel insurance package that comes with this card is similar to what you find on some cards with a heftier annual fee.

Scotiabank’s Priority Pass

Receive a special yearly membership price of only $65 USD (a 35% discount off the regular price) and access each lounge visit for just $32 USD. Once you enrol, you will have access to lounges in more than 100 countries and 300 cities worldwide.

Access includes:

  • Use of lounges in the program regardless of the class of travel or airline you’re flying

  • Privileged access to over 600 Airport VIP Lounges worldwide

  • Relaxing ambience – for both you and your guests

  • Complimentary refreshments and snacks

  • Email, internet and conference space

To take advantage of this offer, each Cardholder on the account needs to enrol for the Priority Pass membership separately.

Best Price Guarantee on Airfare

If, within 24 hours after completing an airline ticket purchase on the Scotia Rewards Travel site or with a Scotiabank Travel Rewards Representative, you find a price for the exact same itinerary that’s at least $10 less, Scotiabank Travel Rewards will offer you a points credit equal to the price difference, per passenger. Visit Scotia Rewards for complete details and instructions on how to submit your claim.

Save On Car Rentals

AVIS reservations may be made online at or by calling 1-800-TRY AVIS (879-2847).

Please quote AVIS worldwide discount number C213401.

Budget Reservations may be made online at or by calling 1-800-268-8900.

Please quote Budget Corporate Discount number A363307.

How To Redeem The Reward Points?

Scotia Rewards points are very easy to redeem for travel purchases (hotel, flights, car rental, etc.). You can book travel using the Scotia Rewards Travel service at 100 points = $1. The minimum redemption is 5,000 points which is equivalent to $50.

If you prefer to make your travel bookings through a different travel service or agency, you can still use your points. Pay as you normally would using your card and then pay off your credit card balance using your points. In addition to travel, points can also be redeemed for gift cards or a statement credit.

Cons of the Scotiabank Gold American Express Card

The Scotiabank Gold American Express Card has a $99 annual price tag. If you would rather not pay fees on a card, check out my list of the best no-fee credit cards in Canada. Another downside to note is that Amex cards are not as universally accepted like Visa or Mastercard.

For a Visa card by Scotiabank that has some similarities to this card, check out the Scotiabank Passport Visa Infinite.

It is also worth noting that supplementary cards cost $29 each.


This card is worth considering if you are looking for a travel card that offers an excellent rewards rate and if you spend a decent amount on groceries, gas, restaurants, and entertainment every month.

At a 4% earnings rate on these four categories, your $99 annual fee will be paid for in no time (not including the $150 sign-up bonus). Also, the annual income requirement for the Scotiabank Gold American Express card is very low at $12,000.

Please let me know your thoughts and comments below.

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