Best Scotiabank Credit Cards In Canada – Forbes Advisor Canada

Scotiabank Gold American Express card

The Scotiabank Gold American Express Card offers great travel rewards, no exchange fees and comprehensive insurance coverage.

Reward: Earn 6 Scene+ points per dollar spent at participating grocery stores, 5 Scene+ points per dollar spent at other grocery stores, restaurants, food delivery and entertainment, 3 Scene+ points per dollar spent on gas, daily transportation and streaming services and 1 Scene+ -Point per dollar spent everything else.

Welcome offer: New customers pay no annual fee for the first year, earn 25,000 Bonus Scene+ points for spending $1,000 or more in the first three months, and 20,000 Bonus Scene+ points for spending $7.50 or more in the first year.

Annual fee: $120

Other advantages and disadvantages: The Scotiabank American Express Gold Card is one of the best credit cards for casual travelers. It offers excellent insurance coverage and there are no foreign assignment fees. The only downside to this card is the American Express badge, making it less likely to be accepted than Visa and Mastercard alternatives.

Scotia Momentum Visa Infinite card

The Scotia Momentum Visa Infinite Card is an ideal credit card for everyday use, paying up to 4% cashback on purchases and offering very good travel insurance.

Reward: Earn 4% cashback on groceries and recurring payments, 2% cashback on gas and daily trips, and 1% cashback on everything else.

Welcome offer: New customers pay no annual fee for the first year and receive 10% cashback for three months or $2,000 of spending.

Annual fee: $120

Other advantages and disadvantages: The Scotiabank Momentum Visa Infinite Card is one of Canada’s top cash back credit cards with unlimited rewards to earn. It also offers perks like mobile device insurance and travel medical insurance. The only downside is the high income requirement of $60,000.

Scotia Momentum Visa card

The Scotia Momentum Visa Card pays up to 2% cashback on purchases and is a good choice for balance transfers with an introductory offer of 0% interest on balance transfers for the first six months.

Reward: Earn 2% cashback when you use your card at grocery stores, gas stations and pharmacies, and on recurring payments. All other purchases receive 1% cashback.

Welcome offer: none.

Annual fee: $39

Other advantages and disadvantages: With the Scotia Momentum Visa Card introductory offer, you pay no interest for the first 6 months, but after that the interest rate increases to 22.99%. Unlike many other cards, the annual fee is not waived in the first year. This card also has no travel insurance coverage and has very limited benefits other than cash back rewards.

Scotiabank American Express card

The Scotiabank American Express Card offers better rewards than most no-annual-fee credit cards in Canada and offers an eye-catching welcome bonus.

Reward: Earn 3 Scene+ points per dollar spent at participating grocery stores and 2 Scene+ points per dollar spent at other categories including other grocery stores, restaurants, grocery delivery (including meal packages), entertainment, gas, daily transportation and streaming services. Earn 1 Scene+ point for every dollar spent on everything else.

Welcome offer: Pay no annual fee for the first year, earn 25,000 Scene+ points when you spend $1,000 or more in the first three months, and earn 20,000 Scene+ points when you spend $7,500 or more in the first year.

Annual fee: $0

Other advantages and disadvantages: In addition to their generous welcome bonus and rewards, the Scotiabank American Express Card offers more perks than most no-annual-fee cards. When you use your card to purchase a new mobile device, you’ll automatically get coverage for up to $500. And most purchases are eligible for Purchase Assurance and Extended Warranty Protection. The only downside is that American Express cards are not as widely available as Visa or Mastercard.

Scotiabank SCENE+ Visa card

If your balance is just fine, the Scotiabank SCENE+ Visa card has easier approval criteria than other cards on this list and offers Scene+ rewards with every purchase.

Reward: Earn 2 Scene+ points per dollar spent at select grocery stores and cineplexes. Earn 1 Scene+ point for every dollar spent elsewhere.

Welcome offer: Earn 5,000 Scene+ points when you spend $750 or more in the first three months and earn an additional 5,000 Scene+ points when you spend $5,000 or more in the first year.

Annual fee: $0

Other advantages and disadvantages: The Scotiabank SCENE+ Visa Card is more forgiving than most when it comes to credit. While you won’t be approved if you have a history of serious credit problems, you may be approved with a credit score in the “fair” range of 560-659.

The benefits end there for the Scotiabank SCENE+ Visa Card, which offers few cardholder benefits and no insurance coverage.

Scotia Momentum Visa card with no fee

If you like the rewards but can’t stomach the idea of ​​an annual fee, the Scotia Momentum No-Fee Visa Card offers a generous welcome offer and cashback rewards with the title promise of no annual fee.

Reward: Earn 1% cashback when you use your card at gas stations, grocery and drug stores, and for recurring payments. Earn 0.5% cashback on all other categories.

Welcome offer: Earn 5% cashback on all purchases in the first three months up to a maximum of $2,000 in spend or $100 in rewards. Pay 0% interest on balance transfers for the first six months.

Annual fee: $0

Other advantages and disadvantages: The Scotia Momentum No-Fee Visa Card delivers on its promise of no annual fee, but offers little else apart from an enticing welcome bonus. No insurance coverage is included and the only added benefit is a discount on car rentals.

L’earn Visa card

If you’re looking to get one of your first credit cards as a student, the L’earn Visa Card is a great way to build a credit history and earn cash back rewards.

Reward: Earn 0.25% cashback on the first $500 spent each year, 0.5% cashback on the next $500 and 1% cashback on anything over $1,000.

Welcome offer: none

Annual fee: $0

Other advantages and disadvantages: L’earn Visa Card cash back rewards start small and gradually increase with spend. The reward tiers offer 0.25% cashback on the first $500 you spend, 0.5% cashback on the next $500, and 1% cashback on everything after that. These tiers reset every year, so you’ll only get the top reward if you spend more than about $85 a month on the card.

Scotia Momentum Mastercard

The Scotia Momentum Mastercard has an introductory interest rate of 7.99% for the first six months, making it a good choice for short-term financing, especially if you’re planning a major purchase.

Reward: Earn 1% cashback at gas stations, pharmacies, grocery stores and on recurring payments. Earn 0.5% cashback on all other purchases.

Welcome offer: none

Annual fee: $0

Other advantages and disadvantages: The introductory purchase rate on the Scotia Momentum Mastercard is 7.99% for the first six months, after which it jumps to 20.99%. The jump makes this card a poor choice if you want to keep a steady balance, but useful for an instant buy if you want some time to pay off. If you are looking for a credit card to travel with, you have better options as this card does not offer travel insurance coverage and there is a conversion fee.

Scotiabank Platinum American Express card

A serious card for serious travelers, the Scotiabank Platinum American Express Card offers free airport lounge passes and no exchange fees.

Reward: Earn 2 Scene+ points per dollar spent on the card in all categories.

Welcome offer: Pay no annual fee for the first year, earn 50,000 Scene+ points if you spend $3,000 or more in the first three months, and 10,000 Scene+ points if you spend at least $10,000 in the first 14 months.

Annual fee: $399

Other advantages and disadvantages: One would expect great benefits from a $399 annual fee card, and the Scotiabank Platinum American Express Card delivers. Travelers benefit from comprehensive insurance coverage, 10 free airport lounge passes per year and an included Hertz Gold membership, as well as zero international transaction fees. The included concierge service is available to help you with travel arrangements, reservations and similar errands. New mobile devices are insured up to $1,000, and American Express perks like Front Of The Line are included. The glaring downside is this card’s whopping $399 annual fee. This fee more than covers the cost of the included airport lounge passes, but it’s not worth it if you only travel occasionally.

Scotiabank Scene+ Student Visa Card

If you are enrolled in post-secondary education, the Scotiabank Scene+ Visa Card for Students can help you build your credit history and earn rewards in the process.

Reward: Earn 2 Scene+ points for every dollar you spend responsibly on groceries, including at discount grocer FreshCo and Cineplex. Earn 1 Scene+ point for every dollar spent elsewhere.

Welcome offer: Earn 1,250 Scene+ points with your first purchase.

Annual fee: $0

Other advantages and disadvantages: Student credit cards are a great way to build a credit history in Canada, and the Scotiabank Scene+ Visa Card for students makes an excellent stand in its own right. In addition to the generous reward tiers, Scene+ reward points are ideal for students as they can be used on movies, gift cards, bill credits and more.

Credit card research and data analysis conducted by Tia Duncombe, Debra Toews and Jack Choros.