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Best Scotiabank Travel Credit Card: Scotiabank Gold American Express® Card and Scotiabank Passport™ Visa Infinite*Card
Best Scotiabank No Foreign Transaction Fees Credit Card: Scotiabank Gold American Express® Card and Scotiabank Passport™ Visa Infinite* Card
Best Scotiabank No-Fee Travel Credit Card: Scotiabank American Express® Card
Best Scotiabank Cash Back Credit Card: Scotia Momentum® Visa Infinite*Card
Best Scotiabank No-Fee Cash Back Card: Scotia Momentum® No-Fee Visa*Card
Best Scotiabank Low Interest Credit Card: Scotiabank Value® Visa*Card
Best Scotiabank No Annual Fee Credit Card: Scotiabank Value® No-Fee Visa*Card
Best Scotiabank Credit Card for Students: SCENE®* Visa*Card
Best Scotiabank U.S. Dollar Credit Card: Scotiabank® U.S. Dollar VISA* Card
Best Scotiabank Business Credit Card: Scotia Momentum for Business Visa Credit Card and Scotiabank Passport Visa Infinite Business Card
Scotiabank’s stand out feature for many of their credit cards is their Scotia Rewards. It is an in-house program which allows clients to redeem electronics, travel, gift cards or use rewards for statement credits. The Scotia Rewards Travel Service offers clients a full-service travel agency experience tied into their reward system thereby giving card holders many connections in travel experiences and benefits.
With cashback, no annual fee and low interest credit cards, Scotiabank meets the needs of nearly everyone. Often waiving the annual fees and offering huge reward bonuses for using new credit cards in the first few months, Scotiabank offers extremely competitive credit cards. Most come with different travel benefits, rental discounts, purchase protection options as further benefits.
Scotiabank Gold American Express®Card
With the Scotiabank Gold American Express®Card you do not pay any foreign transaction fees. This is great news for frequent travelers.
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The earn rate is incredible. You get 5 Scotia Rewards points per $1 spent at grocery stores, restaurants, fast-food, and bars. That includes Skip the Dishes and subscriptions like Hello Fresh. You also earn 5 points per $1 on entertainment—think movies, theatre, and ticket agencies.
You earn 3 points per $1 on gas and daily transit, plus select streaming services. All other purchases earn you 1 point per $1.
If those earnings don’t impress you, maybe the signup bonus will. You’ll earn 40,000 Scotia Rewards points when you charge $1,000 in the first 3 months. That’s worth up to $400! Charge $7,500 in the first 12 months, and you’ll get an additional 5,000 points.
And what can you do with all those points? Turns out, they’re pretty flexible. You can redeem them for a statement credit to cover any travel-related expense or book travel through Scotiabank’s online portal.
Throw in a comprehensive travel insurance package and Priority Pass membership, and you’ve got yourself a powerful and versatile travel rewards card. For an annual fee of $120, the new and improved Scotiabank Gold American Express®Card packs quite a punch.
The Scotiabank Passport™ Visa Infinite*Card offers 2 points for every $1 spent on grocery store, dining, entertainment, and transit purchases, and 1 point per $1 on everything else. That’s hardly best-in-class, so why does the Scotiabank Passport™ Visa Infinite* Card tie for best Scotiabank travel credit card?
Two reasons: a very lucrative bonus point offer and no foreign transaction fees.
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Let’s start with the bonus points. You earn 40,000 Scotia Rewards points when you spend $1,000 in the first 3 months. That’s worth up to $400, is easy to obtain, and is a solid reason to try this card for a year.
But wait, there’s more. Every year you charge $40,000 to your Scotiabank Passport™ Visa Infinite* Card, you’ll get 10,000 bonus points, plus an extra 2,000 points for every extra $10,000 charged. If you can hit the $40,000 minimum each year, the 10,000 bonus points will nearly cancel out the $139 annual fee.
If that wasn’t enough, the Scotiabank Passport® Visa*doesn’t charge any foreign transaction fees. It comes with a suite of travel insurance benefits, Visa Infinite benefits, and includes six free airport lounge passes.
Premium travel credit cards have their target audience, but you don’t have to commit to an annual fee to enjoy travel rewards. The Scotiabank American Express® sports a golden combination: it has no annual fee, and offers a signup bonus.
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You’ll earn 30,000 Scotia rewards points when you spend $1,000 in the first 3 months. Plus, for a limited time, you are eligible to earn a 10,000 Scotia Rewards point bonus when you spend at least $7,500 in everyday eligible purchases in your first year. That’s worth $400 and is extremely easy to get. Considering it costs nothing to hold the card, that’s a generous bonus.
Of course, the rewards don’t stop there. You’ll earn 1 point for every $1 you spend with the Scotiabank American Express® points are redeemable for travel any time, with no restrictions.
When you do take a trip, the included travel insurance package will have you covered. You get travel emergency medical, trip interruption, travel accident, and rental car collision loss/damage insurance. For no annual fee, that’s impressive.
The Scotia Momentum® Visa Infinite* Card offers one of the highest cash back rates in the market. You’ll earn 4% cash back on groceries, recurring bill payments, and subscription services. Gas and daily transit purchases earn you 2%, and all other purchases yield 1% cash back. It’s easy to ramp up the value by setting up all your recurring bill payments on this card.
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The Scotia Momentum® Visa Infinite*Card includes a travel insurance package and access to all the Visa Infinite benefits, including a 24/7 concierge. It also offers new mobile device insurance up to $1,000.
Welcome offer:Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on supplementary cards. A welcome offer value of $350.
The $120 annual fee is waived for the first year, so you have nothing to lose by trying it out. That being said, people who spend a lot on groceries and recurring bill payments will get value from the Scotia Momentum® Visa Infinite* Card even with the annual fee.
It’s a basic no-annual fee card that pays 1% cash back on eligible grocery store, gas, and drug store purchases, along with recurring bill payments. The rate on other purchases is 0.5%.Want cash back rewards but can’t stomach an annual fee? Meet the Scotia ® Visa Infinite*’s little sister: the Scotia Momentum® No-Fee Visa*Card.
There is an introductory offer: Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases) and 7.99% on purchases for the first six months. If you have to carry a balance, this offer can mean big savings. And speaking of savings, the Scotia Momentum® No-Fee Visa* also saves you 25% off Avis car rentals.
Fun fact: Scotiabank also offers a Mastercard version of this card.
When you’re carrying a balance, interest rate is your card’s most important feature. Scotiabank Value® Visa*Card offers a low rate of 12.99% on purchases, cash advances, and balance transfers. For the first 6 months, get cash advances for a 0.99% introductory rate.
Carrying a balance on the Scotiabank Value® Visa* instead of a typical credit card can save you hundreds in interest. The difference between 12.99% and 19.99% can really add up.
Transferring higher-interest balances to this card can be a smart way to take advantage of the low rate and repay your debt quicker.
This card carries a low $29 annual fee, but for cardholders with a balance, the interest savings are more than worth it. As a bonus, the Scotiabank Value® Visa* Card saves you 25% on AVIS rental cars.
Scotia Momentum® Mastercard®* Credit Card
A low-introductory purchase rate card with no annual fee, the Scotiabank Momentum® Mastercard*includes a 25% discount on AVIS rental cars.
But here’s where the card really shines: for the first 6 months, there’s a 7.99% introductory rate on purchases. This presents a great opportunity to save on onterests for the first 6 months.
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Anyone looking into carrying a balance for the first 6 months to make a purhcase with lower interest rates should consider getting the Scotiabank Momentum® Mastercard* to capitalize on this opportunity.
Scotiabank’s SCENE®* Visa* Card isn’t exclusively for students, but cinema-lovers among their ranks will appreciate this card’s simple and lucrative rewards structure.
In case you didn’t know, Scene is Cineplex’s rewards program. Members earn Scene points when they buy movie tickets. Points can be redeemed at Cineplex theatres for free movies and food, and at select restaurant chains.
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The SCENE®* Visa* Card takes things up a notch. It pays 1 Scene point for every $1 spent on everyday purchases and 5 Scene points per $1 spent at Cineplex theatres or Cineplex.com.
Plus, it comes with a welcome bonus of 1,250 Scene points when you make your first purchase.You can redeem for a FREE movie with just 1,250 points.
Student or not, 1 free movies for no annual fee is a sweet deal. Anyone who goes to Cineplex theatres (or makes purchases on their website) regularly would be smart to carry this card just for the 5 Scene points per $1.
The Scotiabank ® U.S. Dollar VISA* Card is a good solution for people who frequently travel to the U.S. or make purchases in U.S. Dollars.
When making U.S. Dollar purchases with most Canadian credit cards, you pay the exchange rate plus a 2.5% foreign transaction fee. This means you’re paying 2.5% more for every transaction. The Scotiabank ® U.S. Dollar VISA* takes the guess work out of the conversion and ditches the 2.5% fee for U.S. Dollar purchases.
The U.S. price you see is exactly what’s charged to your card. If you have a U.S. Dollar bank account, you can pay your card from that account without dealing with any exchange rates.
There’s a $35 annual fee, but for frequent U.S. shoppers, the recouped 2.5% on every transaction will quickly cancel out the fee. You also enjoy peace of mind with purchase security and extended warranty on purchases made with the card.
The Scotia Momentum for Business Visa Credit Card is a cash back card tailored to meet the needs of business owners.
It pays 3% cash back on the first $50,000 you spend each year at gas stations, restaurants, office supply stores, and on recurring bill payments. On all other purchases and after the $50,000 cap, you earn 1%.
The annual fee is $49, and business owners can order up to 6 supplementary cards ($29 each) for partners or employees. Every card linked to the account earns cash back, and purchases made with each card are clearly labeled on the statement. This makes it easy to assign spending accounts while keeping records organized.
Besides the attractive cash back rate, the Scotia Momentum for Business Visa Credit Card has an enticing balance transfer introductory offer. For the first 6 months, pay just 2.99% (22.99% after that). This is an excellent opportunity to transfer higher-interest balances and funnel the interest savings into debt payments.
Scotia Momentum for Business Visa cardholders also enjoy travel emergency medical and rental car collision loss/damage insurance. A somewhat unique benefit is a slightly extended grace period: 25 days instead of the typical 21.
The new Scotiabank Passport Visa Infinite Business Card is a premium travel rewards card for business owners.
We’ll say this up front: there’s a $199 annual fee. But before you scoff, take a minute to consider the benefits.
First of all, you can earn up to $500 in bonus offers in your first year. Here’s how it works: earn 40,000 Scotia Rewards points when you charge $5,000 in the first 3 months. Those points are worth up to $350 and are easy to obtain. To get the other 15,000 points, you have to charge $60,000 to the card in the first 12 months. That’s more of a challenge, but business owners putting though all their expenses may not have a problem.
Besides the extremely lucrative signup bonus, you’ll earn 1.5 points for every $1 you spend. Anyone who earns the full 50,000 signup bonus would have to charge at least $60,000 in their first year, which means they’d earn 90,000 points on their purchases. If you’re keeping track, that’s 140,000 points in one year—worth up to $1,400 in travel!
The Scotiabank Passport Visa Infinite Business Card doesn’t charge foreign transaction fees, which means big savings for frequent travelers. It also includes complimentary airport lounge access and a comprehensive insurance package.
Best Scotiabank Travel Credit Card: Scotiabank Gold American Express® Card and Scotiabank Passport™ Visa Infinite*Card
Best Scotiabank No Foreign Transaction Fees Credit Card: Scotiabank Gold American Express® Card and Scotiabank Passport™ Visa Infinite* Card
Best Scotiabank No-Fee Travel Credit Card: Scotiabank American Express® Card
Best Scotiabank Cash Back Credit Card: Scotia Momentum® Visa Infinite*Card
Best Scotiabank No-Fee Cash Back Card: Scotia Momentum® No-Fee Visa*Card
Best Scotiabank Low Interest Credit Card: Scotiabank Value® Visa*Card
Best Scotiabank No Annual Fee Credit Card: Scotiabank Value® No-Fee Visa*Card
Best Scotiabank Credit Card for Students: SCENE®* Visa*Card
Best Scotiabank U.S. Dollar Credit Card: Scotiabank® U.S. Dollar VISA* Card
Best Scotiabank Business Credit Card: Scotia Momentum for Business Visa Credit Card and Scotiabank Passport Visa Infinite Business Card
For an annual fee of $139, card holders obtain an array of travel benefits including point travel redemption, travel insurance and airport lounge access. Scotiabank boasts about this credit card because it is the only major bank in Canada that offers a credit card with no foreign transaction fees and airport lounge access.
With a generous rewards rate of 5 points per dollar on gas, groceries, restaurants and entertainment, the Scotiabank Gold American Express Card will help make your travel plans a reality. Plus, with a flexible points program, you can book you flights on your own schedule.
Scotiabank Gold American Express® Card review
Great reasons to get the Scotiabank Gold American Express Card for your everyday purchases.
Earn 20,000 bonus Scotia Rewards points with your first $1,000 in everyday purchases in first 3 months†
eat in & eat out
Earn 5x Scotia Rewards points for every $1 CDN spent on eligible grocery stores, restaurants, fast food, and drinking establishments. Includes popular food delivery and food subscriptions.
watch & cheer
Earn 5x Scotia Rewards points for every $1 CDN spent on eligible entertainment purchases. Includes movies, theatre, and ticket agencies.
Earn 3x Scotia Rewards points for every $1 CDN spent on eligible gas and daily transit.Includes rideshare, buses, taxis, subway, and more.
Earn 3x Scotia Rewards points for every $1 CDN spent on eligible select streaming services.
Earn 1xScotia Rewards point for every $1 spent on every other purchase.
Aside from its high return rates, the Scotiabank Platinum American Express provides an impressive list of purchase and travel insurance benefits that justifies the annual fee. The best credit card for insurance coverage in Canada, it provides peace of mind and comprehensive protection on the road and the longest extended warranty and purchase protection.
Scotiabank®* Platinum American Express® Card review
Great reasons to get this Card for your everyday purchases
Reach your goals 4x faster
Earn 4 Scotia Reward points on every $1 you spend at eligible gas stations, grocery stores, on dining and entertainment.
Earn 1 point for every $1 you spend on everything else.
Book travel and redeem easily
Use your Card and book travel through Scotia Rewards Travel Service, our full-service travel agency.
Redeem for travel anywhere, anytime, with no travel restrictions.
Enjoy exclusive benefits
Access to complimentary concierge services, airport lounges, Hertz #1 Club Gold membership, merchandise, rewards and more.
Peace of mind for every trip
Travel with confidence on every trip with our comprehensive travel insurance coverage
Pay fewer fees when it comes to foreign transaction and purchases made across the border with a US dollar credit card. And when it comes to these specialty credit cards, the Scotiabank US Dollar VISA stands out with no U.S. dollar conversion fees on top of purchase security, extended warranty and a 25% discount at participating Avis locations.
Great reasons to get this card for your U.S. dollar purchases
The convenience and flexibility of paying in U.S dollars
The Scotiabank Momentum Business Visa helps business owners organize and track expenses with ease while rewarding them for everyday purchases. With up to 3% cash back and an introductory low balance transfer rate, this business credit card is ideal for startups with pre-existing debt and business owners looking to expand.
Why We Like It:
Scotiabank Momentum® for business Visa* Card review
Great Reasons To Get This Card For Your Everyday Business Purchases
3%
Gas Stations
3%
Restaurants
3%
Office Supplies
3%
Recurring Bill Payments
Plus, Earn cash back On All Other Eligible Business Purchases
With a car being an essential albeit expensive purchase for a growing business, the Scotiabank GM Business Visa comes in handy for the entrepreneur seeking to buy or lease a GM car in the near future. At the same time, it offers practical benefits for the pragmatic businessman, including rental car discounts and a decent shopper protection program for a small annual fee that you can waive on the 1st year.
Why We Like It:
Great reasons to get this card for your everyday business purchases
Earn 5% in GM Earnings on the first $10,000 spent annually,and 2% on all other everyday business purchases
$1in GM Earnings =$1towards your purchase or lease of a new Chevrolet, Buick, GMC, or Cadillac
Earnings do not expire as along as you are a cardholder
No earning or redemption caps
For people who love to eat and drive, the Scotia Momentum VISA Infinite Card is the best rewards credit card with a fee. It provides an unrivaled 4% cash back on food and gas along with 2% on recurring payments and drugstore purchases, and 1% on the rest. On top of that, this card also comes with comprehensive insurance benefits and concierge benefits.
Great reasons to get this card for your everyday purchases
Earn 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on supplementary cards. A welcome offer value of $350*.
• 4% on eligible recurring bill payments and grocery store purchases
• 2% on eligible gas station and daily transit purchases
• 1% cash back on all other eligible everyday purchases
• Complimentary Concierge Services 24/7
• Visa Infinite Dining Series
• Visa Infinite Music Series
• Wine Country Wonders
• Luxury Hotel Privileges
• Comprehensive Travel Insurance & New Mobile Device Insurance coverage
Students who are serious in building their credit history may find the L'earn Visa Card to their liking. It has no annual fee, gives 1% cash back and has easy-approval requirements. While this student credit card has no bells and whistles in terms of rewards, the straightforward cash back structure offers enough rebates for you to save cash when you shop and delivers the advantages of a credit card minus the high-income requirement.
Why We Like It:
Students can now get a VISA card that was designed with students in mind. The L'earn VISA card offers a Moneyback reward program and a host of other great benefits.
7.99% introductory interest rate on purchases for the first 6 months
Although it comes with no bells and whistles, the Scotia Momentum MasterCard Credit Card has an attractive low balance transfer promotion that may be appealing for people looking to pay off their debt. This no-fee cashback credit card also has solid features enough to make it ideal for people who want to build their credit.
Why We Like It:
Scotia Momentum Mastercard Credit Card review
•7.99% introductory interest rate on purchases for the first 6 months (19.99% after that)
• Cash back on everyday spending with no annual fee
• 1% cash back on eligible gas station, grocery store and drug store purchases and recurring bill payments
• 0.5% cash back on all other eligible everyday purchases
• Rates, fees and other information are effective as of August 1, 2019. Subject to change.
Make everyday purchases quickly and safely with just a tap of your contactless-enabled Mastercard or device
0.99% introductory interest rate on balance transfers for the first 6 months
The Scotia Value Visa is aimed at individuals looking for a good balance transfer credit that offers decent privileges and a lower interest rate beyond the introductory promo period. Although it comes with a minimal fee, customers who cannot pay their balance in full can take advantage of the low post-promotional rate of 12.99%. Plus, if you regularly rent cars from Avis, then you might get the best value out of this card.
Why We Like It:
Scotiabank Value® Visa* Card review
Great reasons to get this card for your everyday purchases
Save up to hundreds of dollars a year on interest
Pay down higher interest rates balances faster
Transfer higher rate balances and save even more
The best way to get a Scotiabank credit card is to either apply online or at branch. The first step would be to review the credit card options available and choose one that meet your needs. You can review our article on the top Scotiabank credit card by category
If you visit the branch, please bring the following items with your completed application.
The Scotiabank does not have a secure credit card. One great option for a secure credit card is Refresh Financial, read our review here.
The minimum payment due for Scotiabank credit card is 3% of your outstanding balance. Please review your online banking account or credit card statement to confirm the amount and payment due date.
Can you go over your credit card limit Scotiabank?
First and foremost, it is not recommended to go over your credit limit since it could impact your credit card utilization rate and your credit score.
If you go over your credit limit, there are 2 potential scenarios:
Perhaps it might be worth applying for a credit limit increase.
If you would like to submit a request to increase to your credit limit, you have three options:
Mohamed Konate is a personal finance expert, blogger, and marketing consultant based out of Toronto. He is a former financial services professional who worked for many years at major Canadian financial institutions where he managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor in Business Administration from the University of Quebec (Montreal) and a Master in International Business from the University of Sherbrooke (Quebec).He is also the author of the Canadian Credit Card Guidebook.
