Do you love rewards, but have a hard time deciding which type you want?

One day, you might want to earn points towards that next big trip you’ve been planning…

But the next day, you make plans to go to the movies that weekend, and think it would be pretty cool to save on that too.

If you like to have your options wide-open, Scotia Rewards is one of the most flexible on the market today.

But with any rewards program, not all redemption options offer the same value per point.

So the question becomes: how do you get the most from your points?

Scotia Rewards at a glance

Value of a Scotia Rewards point: High: $0.01 for travel
Low: $0.0031 for merchandise
Best ways to redeem Scotia Rewards: * Travel – 1 cent per point
* Cash (statement credits) – 0.67 to 0.8 cents
* Gift cards & prepaid cards ‒ 0.74 cents
* Donations ‒ 0.74 cents
* Brand-name merchandise ‒ 0.31 to 1.21 cents
* Apple & Best Buy merchandise ‒ 0.89 to 1.11 cents
* Transfer to SCENE ‒ 0.92 cents
* Experiences ‒ 0.59 to 0.71 cents
How to earn Scotia Rewards: 7 credit cards, 1 debit card
Who these rewards are good for: * World Travellers
* Value Shoppers
* Movie Buffs
Frequently Asked Questions: * Level of flexibility? High
* Blackout dates? No
* Rewards cover taxes and fees? Yes
* Do rewards expire? No
Plus a $150 travel bonus.
Offer ends December 21, 2018.

Calculating the value of a Scotia Rewards point

Like most rewards programs, there’s a multitude of ways to use your points, and they aren’t all built the same. Here are some redemption options and their point values:

Redeem for travel

Without a doubt, redeeming for travel is the best way to use your points.

5,000 points = $50, or 1 cent per point

Scotia Rewards is one of the few programs that lets you book with either their own site or any other travel providerand the value of your points remain the same.

It should be noted that if you’re booking with another provider you’ll need enough points to cover the entire transaction. If you only want to redeem your points for a partial redemption, you’ll have to book through Scotia Rewards.

Convert points into statement credits

Scotia Rewards allows you to convert your points into statement credits.

The more points you use to redeem for statement credits, the more valuable your points are.

Low end: 3,000 points = $20, or 0.67 cents per point

High end: 62,500 points = $500, or 0.8 cents per point

Redeem for gift cards and prepaid cards

There’s a wide assortment of gift cards available for redemption, with amounts ranging from $25 to $100. No matter the amount, however, they all have the same point value.

For example, to redeem a $25 gift card, you’ll need 3,400 points. This translates into a point value of 0.74 cent.

Use your points to make donations

You can make your donations to Canadahelps.org.

And your point value is the same as gift cards – 0.74 cents each.

Related: How To Maximize The Air Miles Rewards Program

Redeem for brand-name merchandise

There’s a wide-range merchandise catalogue to choose from. Items range from accessories, electronics, house & home, recreation, toys, and games.

Here’s a sampling of what’s available, and its price as found on Google with 13% sales tax added:

Item Name Points Required Price (13% tax included) Point Value
Fossil Nate Stainless Steel Men’s Watch 21,000 $254.25 1.21 cents
Bose Soundbar 500 74,300 $790.99 1.06 cents
Bose Noise-Masking Sleepbuds 36,200 $372.89 1.03 cents
Melissa & Doug Wooden Project Workbench 16,200 $141.19 0.87 cents
JBL Extreme 2 Bluetooth Portable Speaker 45,800 $395.49 0.86 cents
Fitbit Charge 3 27,500 $225.99 0.82 cents
KitchenAid Cold Brew Maker 20,500 $158.20 0.77 cents
Samsonite Modern Utility Messenger Bag 10,200 $71.18 0.70 cents
KitchenAid Glass Tea Kettle 21,100 $183.63 0.69 cents
Gordon Ramsay Knives 4 Piece Steak Knife Set 14,000 $67.74 0.5 cents
Hasbro Monopoly Classic Board Game 5,700 $22.52 0.4 cents
Bugatti Milled Nappa Leather Passport Wallet 9,800 $30.42 0.31 cents

There’s definitely a variety of point values here, and depending on what you’re looking for, there are some pretty exceptional deals to be had. Some will even give you better point values than travel rewards.

Redeem for Apple and Best Buy merchandise

Apple and Best Buy merchandise are separate from other brand names because you can actually do partial point redemptions for them, whereas the rest of the catalogue needs full point redemptions.

Here’s a sample of some of the merchandise available and what point values we found. All prices are from bestbuy.ca or apple.com/ca and have 13% sales tax added.

Item Name Points Required Price (13% tax included) Point Value
Samsung 75″ 4K UHD HDR QLED Tizen Smart TV 456,584 $5,085 1.11 cents
32 Gb Apple iPad – wifi only 54,410 $484.77 0.89 cents
13″ MacBook Air Base Version 152,069 $1,354.87 0.89 cents
32 Gb Apple TV 4K 29,044 $258.77 0.89 cents
AirPods 27,775 $247.47 0.89 cents
Infinity RS152BK 125-Watt Bookshelf Speaker 88,780 $791 0.89 cents
LG 55″ 4K UHD HDR LED webOS 4.0 Smart TV 95,120 $791 0.83 cents

Transfer points to SCENE

A great way to use your points is to transfer to the SCENE program and redeem for movie tickets.

1,000 Scotia points will give you 770 SCENE points.

We value SCENE points at 1.2 cents each, which gives the following point value:

770 x 1.2/1000 = 0.92 cents per point

Although this isn’t quite as good as travel, it can be great if you’re looking for a quick way to redeem some points for a movie night.

Please note: It’s best to use the points to redeem for movie tickets, as the value decreases when redeemed for any other redemption the SCENE program offers.

Points can also be transferred from SCENE to Scotia Rewards. 1,000 SCENE points will give you 950 Scotia Rewards.

Redeem for experiences

You can redeem your Scotia Rewards points for several different CityPASS Experiences and various attractions.

Here’s a sample of the ones you can redeem for, and your point values. Prices include applicable local taxes.

Item Name Points Required Price (taxes included) Point Value
Vancouver Aquarium (1 Day pass, Adult) 6,000 $42.56 0.71 cents
CityPASS New York (Adult) 27,440 $173.45 0.63 cents
CityPASS Toronto (Adult) 17,000 $100.81 0.59 cents
San Diego Zoo 1 Day Pass (Adult) 11,900 $70.20 0.59 cents

How to earn Scotia Rewards

There are 7 cards from Scotiabank that will let you earn Scotia Rewards.

Scotiabank Credit Card Annual Fee Points per $ Points Multiplier Learn More
Scotiabank American Express Card $0 1 Scotia Reward None Learn More
Scotiabank Rewards Visa Card $0 0.5 Scotia Rewards None Learn More
Scotiabank Gold American Express Card $99 1 Scotia Reward 4 points on gas, groceries, dining & entertainment Learn More
Scotiabank American Express Platinum Card $399 1 Scotia Reward 4 points on gas, groceries, dining & entertainment Learn More
ScotiaGold Passport Visa Card $110 1 Scotia Reward 5% in cash back on travel purchased through Scotia Rewards (conditions apply) Learn More
Scotiabank Passport Visa Infinite Card $139 1 Scotia Reward 2 points on groceries, dining, entertainment & daily transit Learn More
ScotiaGold Passport For Business Visa Card $120 1 Scotia Reward 5% in cash back on travel purchased through Scotia Rewards (conditions apply) Learn More

Here’s the list of all credit cards that earn Scotia Rewards, broken down into several categories.

Skip the annual fee

These cards have no fees, perfect for those with low spending amounts or who just don’t like paying annual fees.

Get more on everyday purchases

The Scotiabank Gold American Express is a great card for earning points while making everyday purchases such as gas, groceries, and restaurants.

Travel the world

These cards all offer premium travel services, whether it’s no foreign exchange fees, airport lounge passes, concierge services, or high earnings for travel purchases.

Earn points for your business

The ScotiaGold Passport For Business Visa is a business card that lets you earn Scotia Rewards points on all purchases made for your business.

Scotia Rewards question and answer

Here are some common questions and answers about the Scotia Rewards program.

How flexible are these rewards?

These are some of the most flexible rewards available. You can book travel through either the Scotia Rewards site or any other provider you choose with no devaluation of your points.

Note: If you’re redeeming your points for travel made with another provider, you must have enough points to cover the entire transaction value.

For merchandise, if you redeem for products from the Apple and Best Buy sections, you can make partial point redemptions and pay for the rest using your card. If there’s something you really want to get but don’t have enough points, you’ll still be able to get your product.

Are there blackout dates?

No, Scotia Rewards has no blackout dates. As long as there is availability from travel providers you can book it with Scotia Rewards.

Do these rewards expire?

No, provided your account is in good standing. Should you close your credit card account, you’ll have 60 days to redeem any remaining points.

Can you use points to cover taxes & fees?

Yes, points can be used to cover taxes and fees without any loss of point value.

Can these rewards be transferred?

Yes, they can be transferred to SCENE membership rewards. If you have multiple cards that earn Scotia Rewards, they can also be transferred between your different accounts.

They cannot be transferred anywhere else.

Is there a way to earn rewards faster?

If you collect SCENE points, you can transfer those points to your Scotia Rewards account.

You can also take advantage of points multipliers and buy gift cards to your favourite stores either at the grocery store or gas station gift card malls. This allows you to take advantage of points multipliers when shopping at stores where the multipliers wouldn’t normally apply.

Do they price-match travel costs?

Only on airfares, provided that the difference is $10 or less. If you find a lower price within 24 hours of your booking, Scotia Rewards Travel will offer a points credit equal to the difference.

Final thoughts

Scotia Rewards clearly has a lot to offer.

While using your points for travel is the best route to max value, there’s plenty of other ways to use them.

And with 7 different credit cards to choose from, there’s an ideal card for everyone.