Wednesday Oct 22, 2014

Introducing the Scotiabank American Express Line-Up!

24 September 2012

Today is a big day for Canadian banks (in my opinion), Scotiabank has announced today that they have launched a new line of credit cards – the Scotiabank American Express Cards. This marks a new strategic card issuing alliance between Scotiabank and American Express.

The new line-up of credit cards are designed for travel enthusiasts as you can imagine.

Scotiabank has expanded their network very smartly in my opinion. As it stands, there are many people who love what AMEX has to offer, and now that they are linked together with Scotiabank, we can expect to see some pretty big things from them.

What are the new credit cards in the new Scotiabank American Express Card lineup?

The new Scotiabank American Express line-up includes 3 new credit cards:

  • img amex details en 300x227 Introducing the Scotiabank American Express Line Up!The Scotiabank American Express Card
    • Earn travel rewards, up to 2x faster
    • Earn a first purchase bonus of 8,000 Scotia Rewards
    • $39 annual fee
  • img amexgold details en 300x227 Introducing the Scotiabank American Express Line Up!The Scotiabank Gold American Express Card
    • Earn travel rewards, up to 4x faster
    • Earn a first purchase bonus of 20,000 Scotia Rewards
    • $99 annual fee

Screen Shot 2012 09 24 at 3.40.45 PM Introducing the Scotiabank American Express Line Up!

  • The Scotiabank Platinum American Express Card
    • Earn travel rewards, up to 4x faster
    • Earn a first purchase bonus of 40,000 Scotia Rewards
    • $399 annual fee

These new credit cards will allow cardholders to earn points quickly, which will be turned into travel benefits.

As you can see, these 3 tiers of the Scotiabank American Express line-up holds an increased rewards rate as you use one of the higher cards – although there is an increased annual fee as well.

You may have noticed that the Scotiabank Platinum American Express Card has an annual fee of $399. That is the actual annual fee and although the travel rewards rate is the same as the Scotiabank Gold American Express Card, the features are far from being the same (more info on this to come soon).

As it stands, I am liking what I have seen so far from the Scotiabank American Express Cards, and cannot wait to dive into it and see how they compare to the current travel credit cards on the market.

What do you think of the new Scotiabank American Express Line-up?

 

 

 

 

About the Author

Sensei

My favorite weapon of choice is the samurai sword. I use it to cut my chicken during dinner, cut my hair and periodically carve my name into stone when I am bored. I love meditating on top of a 15ft high pole and eating those sushi’s with smoked salmon on top. I love everything there is about Canada and everything financially related to Canadians. I write deily posts from Canadian Banks to Credit Card information.

Comments (3 )



Ben Wrote:

if you are good at redeeming points, the GoldAmex is probably the best everyday card around. It is an Amex though so you’ll probably want an additional VISA/MC for those small shops that don’t take Amex

[Reply]

Doug Wrote:

The interesting thing worth noting is I believe American Express not only issues its credit cards but holds and services the credit card receivables, so presumably, the same would apply to the Scotiabank credit cards – with Scotiabank only a co-branded affinity partner akin to a Costco Wholesale. So, their income will be pretty much only fee-based, presumably American Express paying them an ongoing commission to sell their credit cards and a percentage of the annual fee revenue. The actual interest paid would go to American Express.

As well, I would’ve preferred to see Scotiabank become a MasterCard issuer for the above-noted reasons (i.e., actually “owning” a customer’s debt) but also because American Express is NOT widely accepted. Try getting cash overseas from your American Express card at an ATM. :)

Cheers,
Doug

[Reply]

N Singh Wrote:

The Gold Amex really looks like the next card I’ll be getting. A 4% return on ALL grocery, gas, dining and entertainment is amazing. And with the $200 bonus sign up, it renders itself free for 2 years.

I’d use my TD Infinite Visa for all other shopping and non-amex purchases.

[Reply]

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