Scotiabank Platinum American Express Card review

How the Scotiabank Platinum Amex earns

The card earns 2 Scene+ points per dollar on every purchase and 4 points per dollar on Scene+ Travel bookings. There are no grocery or dining categories to track; the 2x rate applies across the board, at home and abroad.

For example, a household that spends $3,000 a month on the card earns 6,000 points a month, or 72,000 a year. Booking $3,000 of travel through Scene+ Travel would earn 12,000 points instead of the 6,000 it would earn at the regular rate.

A flat 2x rate means you don’t lose out by using the card for spending that falls outside typical bonus categories, such as home repairs, insurance premiums or tuition, as long as the merchant accepts American Express.

The welcome offer

New cardholders can earn up to 100,000 Scene+ points. Our data doesn’t list the spending targets or timing, so check Scotiabank’s offer terms before you apply.

At the example spending above, the welcome offer is larger than a full year of regular earning, which makes the first year the strongest.

No FX fee and travel perks

The lack of a foreign transaction fee is one of the card’s biggest strengths. Most cards on our site charge 2.5%, so $1,000 spent abroad would cost about $25 extra on those cards; here it costs nothing extra, and you still earn 2 points per dollar.

You also get 10 VIP airport lounge passes and complimentary concierge, dining and hotel benefits. Check Scotiabank’s terms for how the passes are issued and which lounges accept them.

Fees, interest and the fine print

The annual fee is $399, or about $33 a month. Purchases and cash advances are both charged 9.99% interest. Carrying a $2,000 balance at that rate would cost about $17 a month, so paying the full balance each month is still the way to avoid interest entirely.

Because the fee is high, the card makes the most sense if you’ll use the no-FX-fee benefit, the lounge passes and the travel insurance, not just the earn rate.

Insurance coverage

The insurance package is built for frequent travellers. Read the certificate for coverage limits, eligibility and exclusions before you travel.

• Comprehensive travel emergency medical
• Trip cancellation and interruption
• Flight and baggage delay
• Rental car collision and loss damage

Who it suits, and who should look elsewhere

The card suits Scene+ collectors who travel abroad several times a year, spend in foreign currencies and will use lounge passes. Combining no FX fee with 2 points per dollar abroad is the main reason to pay $399.

If you rarely travel, the fee is hard to justify, and if you want points you can transfer to airline partners, Scene+ is less flexible. You’ll also want a backup Visa or Mastercard for places that don’t accept American Express.

How it compares

The Scotiabank Gold American Express Card costs $120 a year, also has no foreign transaction fee and earns up to 6 Scene+ points per dollar at Sobeys, Safeway, FreshCo, Foodland and more, with up to 50,000 bonus Scene+ points in the first year. It suits people who want no FX fee without paying for premium perks.

The Scotiabank Passport Visa Infinite+ Card costs $150 a year, charges no foreign transaction fee and runs on Visa, which can be easier to use where Amex isn’t accepted. Its listed welcome offer includes up to 35,000 bonus Scene+ points.

Before you apply

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