For a flexible rewards travel credit card, the Scotiabank Gold American Express can check a lot of boxes.

Earn plenty of points on purchases? Check.

Redeem points for any travel booking made? Check.

Includes plenty of travel insurance coverage? Check.

Charges no foreign transaction fees? Check.

Here are the full details on what makes this credit card one of the best flexible rewards credit cards out there.

Scotiabank Gold American Express rewards

Starting with the rewards, the Scotia Gold Amex will earn you Scene+ points on every purchase, making it one of the best flexible rewards programs on the market.

Earning Scene+ on purchases

Let’s start with earning rewards on everyday purchases. You get 5 Scene+ reward points on every $1 spent in 3 spending categories ‒ so, 5 points on:

• groceries,
• restaurants, and
• entertainment.

3 categories that earn 5 points is more than any other flexible rewards card. And if these are categories where you do most of your spending, your rewards will add up quickly.

And if you shop at Sobeys and Safeway stores, you'll earn 6 Scene+ points per $1 spent on groceries.

You'll also earn 3 Scene+ points per $1 spent on gas, transit, and select streaming services, and 1 Scene+ point per $1 spent on everything else.

Value of Scene+

You've got options when it comes to redeeming your Scene+ points.

The best way is to redeem your points for movie tickets, where you'll see an average value of 1.05 cents per point, although the value fluctuates wildly based on the type of movie you're redeeming for.

The next best value you will get is by redeeming your points for travel. You can either use the Scene+ Expedia portal, or book from any provider. Both options provide the same great value – 1 cent per point.

Here's the full summary of all the ways you can use Scene+ points, and what each point is worth.

When redeeming for travel, you're looking at a maximum return of up to 5% on your purchases.

And based on a typical $2,000 monthly spend, you're looking at a return of around 2.3% on all your purchases.

Learn more about Scene+

Want to see the full details on the Scene+ program? We've written an extensive guide to this valuable rewards program, which you can view here.

5 benefits to the Scotiabank Gold American Express card

There's much more to this card than just the rewards. Here are 5 other reasons to like this card.

1. Valuable welcome bonus

The welcome bonus is here to give you a big boost for your future plans.

You can earn up to 50,000 bonus Scene+ points and no annual fee in your first year, meaning in total you get:

• No annual fee in your first year,
• 30,000 points after spending $1,000 in the first 3 months, and
• 20,000 points when you spend $7,500 in the first year.

Those 50,000 points are worth $500 if redeemed for travel.

2. No foreign exchange fees

One aspect of this card that makes it a great travel card? It has no foreign transaction fees. Save yourself the usual 2.5% that other cards charge when making a purchase in a foreign currency, and pocket that for yourself.

In fact, it's one of our top no foreign exchange fee credit cards in Canada.

Just note it only earns 1 point per $1 spent on these purchases, regardless of the merchant's category.

3. Low personal income requirements

Most premium credit cards come with high eligibility requirements that start with having at least $60,000 annual personal income. But that's not the case here (or with any Amex).

To qualify for this card, you'll only need a low personal income of $12,000 to be eligible.

4. Plenty of insurance included

What about included insurance benefits? There's plenty of that.

There’s 9 different types of travel insurance. And shop worry-free because your purchases are covered with:

• extended warranty, and
• purchase protection.

That’s 11 types of insurance in total – check out the insurance tab above for the complete list. One coverage that's hard to find is emergency medical for those over the age of 65, with a coverage length of 3 days.

5. American Express benefits

Even though it's not issued by Amex themselves, you still get access to the typical Amex benefits.

These include Amex Offers, for easy to use discounts at select partners, and Front Of The Line, for early access to ticket sales.

2 drawbacks to the Scotia Gold Amex

Is it perfect? Of course not (like most things in life). Here are 2 things to keep in mind.

1. American Express acceptance

It's not as bad as you think, but Amex cards are accepted less than Visa or Mastercard. And while most major merchants accept Amex, there are some that don't, like Loblaws and Costco.

2. Limited travel perks

While it earns lots of rewards, there is a trade off – a lack of general travel perks. So if things like free airport lounge access interest you, you'll have to look elsewhere.

Comparison to the Scotiabank Passport Visa Infinite

The Scotia Gold Amex isn't the only travel rewards credit card offered by Scotiabank. They also have the Scotiabank Passport Visa Infinite Card to consider.

Feature	Scotiabank Gold American Express	Scotiabank Passport Visa Infinite
Welcome bonus	$60 GeniusCash + Up to 50,000 bonus points, first year free (terms)	$30 GeniusCash + 35,000 bonus points (terms)
Annual fee	$120	$150
Rewards	* 6 Scene+ points per $1 spent at Sobeys, Safeway, FreshCo and more * 5 Scene+ points per $1 spent on groceries, dining, and entertainment * 3 Scene+ points per $1 spent on gas, select streaming services, and transit * 1 Scene+ point per $1 spent on foreign currency purchases * 1 Scene+ point per $1 spent on all other purchases	* 3 Scene+ points per $1 spent at Sobeys, Safeway, FreshCo and more * 2 Scene+ points per $1 spent on groceries, restaurants, entertainment, and daily transit * 1 Scene+ point per $1 on all other purchases
Insurance coverages	12 types	11 types
Special features	* Amex Offers * Amex Front Of The Line * No foreign exchange fees	* Visa Infinite benefits * Complimentary Priority Pass membership, plus 6 annual lounge visits * No foreign exchange fees * Spend $40,000 per year on your card and receive 10,000 bonus Scene+ Points.
Income requirements	* Personal: $12,000	* Personal: $60,000 * Household: $100,000

Which is better really depends on what you want in a credit card. If just earning the most rewards is what you're after, you'll want the Scotiabank Gold Amex. However, for better perks and Visa acceptance, the Scotia Passport Visa will be best.

The Scotia Passport Visa Infinite doesn't compare favourably in these 3 areas:

• rewards (earns far fewer rewards),
• income requirements, and
• annual fee.

But it has more perks, and if you're a high spender, you'll earn bonus points once you reach $40,000 in annual spending.

Bottom line

When it comes to flexible rewards, the Scotia Gold Amex is tough to beat, especially when you consider it's also one of the rare credit cards that charges no foreign exchange fees.

FAQ

What does the Scotia Gold Amex offer for rewards?

The Scotia Gold Amex offers Scene+ on every purchase:

• 6 Scene+ points per $1 spent at Sobeys, Safeway, FreshCo and more
• 5 Scene+ points per $1 spent on groceries, dining, and entertainment
• 3 Scene+ points per $1 spent on gas, select streaming services, and transit
• 1 Scene+ point per $1 spent on foreign currency purchases
• 1 Scene+ point per $1 spent on all other purchases

What is the foreign exchange fee of the Scotia Gold Amex?

The Scotia Gold Amex is a rare credit card that charges no foreign exchange fees. This saves you the typical 2.5% fee charged on any purchases that aren't made in Canadian dollars.

What are the annual fee and income requirements of the Scotiabank Gold American Express?

The Scotia Gold Amex has a standard annual fee of $120, and a personal income requirement of $12,000.