A sleeping giant: The Scotiabank Platinum American Express Card

There is one Ultra Premium credit card that just can’t seem to stay in the spotlight, even with it having some significant changes at start of July, the card just seems to quickly fall into the shadows. That card is the Scotiabank Platinum American Express card. A sleeping giant in our market, the card perfectly fills a spot between other Ultra Premium cards that charge higher annual fees and premium cards that offer less benefits.

A perfect card for the not so frequently flying World Traveller and for large families

The Scotiabank Platinum American Express card is the perfect card for a world traveller who is not a frequent flyer that gets lounge access from elite status. It is also a dream card for larger families who may only fly once or twice per year. Why is that? It is due to its lounge access benefit. The card offers free Priority Pass membership, a US$99 value. Big deal you say, lots of cards have lounge access – why should I pay $399 for this card when I get it from other cards for $120 or $139? The reason why is the Scotia Platinum American Express also comes with 10 free lounge visits for the primary cardholder and 4 more for a supplementary cardholder. At US$32 a pop that saves US$320 or about C$410 for those 10 visits!

The lounge access benefit on its own more than covers the annual fee on the card! If you are a solo traveller flying several times per year you don’t have to worry about paying to access a lounge. And with the card being an American Express card Plaza Premium lounges are also included – for those who were going about to ask about Priority Pass losing access to Plaza Premium. So you have lounge access in most major cities in Canada and around the world.

Same goes for larger families! A lot of families have three kids these days so those 10 passes would easily cover access for a family of five on a round trip vacation.

It’s not just the lounge access that makes this card a sleeping giant….

No Foreign Transaction fees + 2 points for every dollar spent on the card

As part of the card’s revamp at the beginning of July, Scotia added no foreign transaction fees to it and made it’s earn rate a flat 2 points per dollar spent across the board.

By having no foreign transaction fees the card will save you on average 2.5% on any purchases made outside of Canada. Whether it is online shopping or travel, for US dollars, Euros, Japanese Yen and so forth you won’t pay the fee that is found on most cards in Canada. Again, a perfect benefit for the world traveller or even that large family heading to Disney World for a week. I could just imagine the food costs alone for a family of five, so to be able to save 2.5% can make a big difference.

The card also now earns 2 Scene+ points per dollar on all purchases, including those made abroad! So not only are you saving 2.5% on your travels or online shopping but you are also earning a 2% return thanks to the points earned.

Redeem your points for any travel

One of the biggest hurdles Scotia has with their cards moving to the Scene+ program is educating people that the program is not just a movie rewards program. In fact Scene+ when combined with a Scotia credit card like the Scotia Platinum American Express Card is an amazing travel rewards program.

With Scene+ you can redeem 100 points to receive $1 off any travel. That is, if you book any travel on your Scotia Platinum card you can redeem points against that charge afterwards. So if it Air Canada, Holiday Inn, Hertz or any other travel provider, you can simply book with them and then redeem your points towards that purchase. Super flexible and super easy to use.

This is once again perfect for that world traveller or the family travellers since you are not tied into one program. If you are that world traveller and you happen to be in Kuala Lumpur and decide last minute you want to jump on an Air Asia flight to Phuket, simply buy it on your Scotia card and then redeem points against the charge when you get home after your travels. If that flight is $100 and have you $50 of points, no problem you can simply redeem for a $50 statement credit. It’s that easy.

Up to 60,000 points when you get the card

Right now the card sees its best ever welcome bonus in place that offers up to 70,000 Scene+ points worth $700 towards travel! Here is how that bonus is awarded:

  1. Earn 50,000 bonus Scene+ points by making at least $3,000 in everyday eligible purchases in your first 3 months.
  2. Plus, for a limited time, you are eligible to earn a 20,000 Scene+ point bonus when you spend at least $10,000 in everyday eligible purchases in your first 14 months.

Wrapping it up

This card is perfect for those who don’t need all the bells and whistles of other Ultra Premium cards that cost even more and for those who don’t want to be tied to or have no need to convert points into a frequent flyer program. If you want the option to redeem points for any travel at any time including ultra low cost airlines and want to enjoy lounge access without paying US$32 a pop on your several trips per year this is definitely a card to consider. Add in the no foreign transaction fees and a nice flat 2% return on all your spending and you can see why this card is a sleeping giant.

Click here to learn more about and/or to apply for the Scotiabank Platinum American Express card