Monday, March 1, 2021

New increased welcome bonus for the Scotiabank Gold American Express card of up to 40,000 Scotia Rewards points

A lot of our readers ask us frequently as to whether Scotia will provide a boosted welcome offer on one of their best cards, the Scotiabank Gold American Express card. Well we are happy to tell that as of today the card sees that increase! The initial welcome bonus is seeing a boost of 5,000 points to 30,000 when you spend $1,000 on the card in the first three months of having it. Then if you can spend $7,500 within the first year (I know for a lot of our readers that's easily achievable) you'll receive 10,000 more points! The card does have a $120 annual fee which you do have to pay in the first year. This new welcome bonus of 40,000 points is worth $400 towards any travel but we'll value it at $280 since you do have to pay that annual fee right away.

This card is the number one card in the Top Travel Points Credit Card with annual fee category in our 2021 Top Travel Credit Card rankings thanks to its super strong earn rates and no Foreign Transaction fees coupled with easy and valuable travel rewards! If you are unfamiliar with the card here's a look at the earn rates:

  •  Earn 5 Scotia Rewards points forevery $1 you spend at eligible grocery stores, dining and entertainment 
  •  Earn 3 Scotia Rewards points for every $1 you spend at eligible gas stations, daily transit, and select streaming services 
  • Earn 1 point for every $1 you spend on all other eligible everyday purchases

Those points can then be redeemed for any travel that you book with any travel provider. That's right you don't have to book via Scotia Rewards. Book directly with a hotel chain (to make sure you earn that hotel chain's points and elite status benefits) or book directly with an airline, car rental or other travel supplier and you can redeem the points against the charge. The redemption rate is 1,000 points to $10 with a minimum redemption of 5,000 points. That equates to 1 cent per point meaning the earn rates on this card net you a 1% to 5% return.

What makes this card very appealing to a lot of Canadians (versus say the American Express Cobalt Card which is also a 5x points earner) is a high annual cap of $50,000 for the 5 points and 3 points categories as well as having entertainment and streaming services included in those higher earn rates. I know Rewards Canada contributor Jeff W. loves having entertainment included! That being said since the card offers No Foreign Transaction fees which saves you 2 to 3% on purchases outside of Canada the card will not earn these accelerated rates on those foreign purchases, they will earn the 1 point per dollar spent.

The card also has a very good insurance package that comes with it plus being an American Express card it participates in Amex Offers and Amex Invites including Front of the Line. 

Overall not only are you looking at the best Travel Points card in Canada but the number six card overall in Canada out of all the Travel Rewards card options and now to be able to get it with a bigger bonus it just makes this card that much sweeter!

Learn more about and apply for the 40,000 point Scotiabank Gold American Express Card offer here.

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