Scotiabank Gold American Express Card review

How the Gold Amex earns points

The Gold Amex has several earn tiers. Sobeys, Safeway, FreshCo, Foodland and other participating grocers earn 6 Scene+ points per dollar. Other eligible grocery stores, dining, food delivery and entertainment earn 5 points. Gas, transit and streaming earn 3 points, and everything else earns 1 point.

For example, a household that spends $400 a month at Sobeys-family stores, $250 on dining and delivery, $100 on entertainment, $200 on gas, $20 on streaming and $500 on everything else earns 2,400, 1,250, 500, 600, 60 and 500 points respectively. That’s 5,310 points a month, or 63,720 Scene+ points a year.

The welcome offer

New cardholders can earn up to 50,000 bonus Scene+ points on eligible purchases within the first 12 months. Because the bonus is spread over a full year, check the offer terms for exactly what you need to spend and when before you apply.

In the example budget above, the welcome bonus would add nearly 80% to the first year’s points.

Using Scene+ points and extra perks

Scene+ points can be redeemed for travel, groceries or a statement credit, which makes them easy to use even if you don’t travel often. That flexibility matters on a card that earns most of its points on food rather than travel.

The card also saves you up to 12 cents a litre at Shell and includes complimentary concierge service and Amex Offers. Combined with the 3x gas rate, the Shell savings make the card useful at the pump as well as the grocery store.

Fees, interest and the fine print

The annual fee is $120, or $10 a month. The card charges no foreign transaction fee, so $1,000 spent abroad or with a US store costs nothing extra, compared with about $25 on a card that charges 2.5%. Only a handful of cards in our catalogue skip that fee.

Purchases are charged 21.99% interest and cash advances 22.99%. Pay the full statement balance by the due date to avoid purchase interest.

Insurance coverage

The Gold Amex includes travel and device coverage that pairs well with its no-FX-fee appeal. Travel emergency medical coverage is listed at 25 days, so check that it matches your trip length. Read the certificate for the full terms.

• Travel emergency medical (25 days)
• Trip cancellation and interruption
• Flight and baggage delay
• Rental car collision and loss damage
• Mobile device insurance

Who it suits, and who should look elsewhere

The Gold Amex suits households that shop at Sobeys-family grocers, eat out regularly and travel or shop online in US dollars. High food earn rates combined with no FX fee is the card’s main appeal. Frequent travellers also get trip cancellation, flight delay and rental car coverage.

It’s a weaker fit if you buy most groceries at stores outside the bonus categories, or if you want one card that’s accepted everywhere. Keep a Visa or Mastercard as a backup for merchants that don’t take American Express.

How it compares

The American Express Cobalt Card earns 5x on eats and food delivery and costs $191.88 a year, but charges a 2.5% foreign transaction fee. It collects Membership Rewards points rather than Scene+.

If you want Scene+ points without a fee, the Scotiabank American Express Card has no annual fee, earns up to 3x at Sobeys-family grocery stores and offers up to 10,000 bonus Scene+ points in the first 3 months.

Before you apply

The recommended credit score is 720 or higher, and Scotiabank makes the final decision based on your full credit profile. Confirm the current welcome offer and earn rates on Scotiabank’s website before you apply.