Not all credit cards offer cashback and advantages for travelers. However, there are a handful of options that are highlighted by flexible rewards programs, as well as hefty introduction bonuses.
Among these is the Scotiabank Gold American Express Credit Card, which is considered to be a fantastic investment if you are always on the go. While there is an annual fee, the fact that you can cover it by redeeming points and reaching different milestones is quite excellent.
Is it a good option for you, though? That is something that you can find out by reading this article!
Fees and Interest
The Scotiabank Gold American Express Credit Card annual fee was set at $90 just a couple of months ago. Why did it change to $120, then? That is something that only the bank can give an answer to, but although that may sound like a lot, the innovative rewards program should make up for it.
In terms of the interest rate, it all depends on your credit score, as well as the prime market rate, but it is set anywhere between 19.99% and 22.99%. Although this rate applies to balance transfers and purchases, you will be released from paying foreign transaction fees when making purchases in a foreign currency.
Apart from the fact that the exchange rate will be applied, you won’t be subjected to any additional charges. Keep in mind that the minimum credit limit is $5,000 per year, but if you are a frequent traveler, you shouldn’t have an issue getting through this.
For information on how to economically plan your trip with the right credit card, we suggest the CareersPages blog, on which you are sure to find a number of trending topics.
How To Apply
Much like with most credit cards that are available to order online, the application process shouldn’t be anything complicated as long as you meet all the criteria. First and foremost, you need to be above the age of majority, which depends on the province that you live in. You must also be able to prove that you are a Canadian citizen or a permanent resident.
Along with that, you must meet a couple of requirements related to your finances. You can not have gone bankrupt in the past 7 years, and you must have a personal income of at least $12,000 on a yearly basis.
Last, but not least, if you want to have any chance of getting accepted for the Scotiabank Gold Amex card, you will need to give them permission to check your credit bureau report.
While you can apply in-person or over the phone, our personal recommendation is that you do everything through an online inquiry. It is the most efficient way, and the best thing is that you will get an instant decision, and a credit card will be sent to your address within a couple of business days if you get accepted.
Features and Benefits
One of the coolest parts of discussing any credit card is the advantages that you can potentially reap. In this case, most of it comes down to the cashback program.
For purchases in stores or food/drink establishments, you will get 5 Scotia Points for every Canadian Dollar that you spend. You will also get 3 Scotia Points for all ride and drive, as well as most of the streaming services purchases.
Lastly, anything that doesn’t belong to this sector will be awarded a single Scotia Point. Not to mention, you are looking at 25,000 of those fantastic bonus points as long as you make $1,000 in purchases in the initial 90 days.
Bank Contact Details
Among the most important points when it comes to banking services is that reliable customer support is offered. Thankfully, this is the case with Scotiabank.
Physical Address: Scotiabank, Scotia Plaza, 44 King Street West, Toronto, Ontario, Canada M5H 1H1
Phone Number: 1-800-4-SCOTIA; every day from 8 am to 11 pm
Twitter: @ScotiabankHelps; every day from 8 am to 11 pm
Nearest Branch: click here
Mailing Address: click here
Summary
It all comes down to whether you are in need of a credit card for travelers. If that is the case, then this Scotiabank Gold Amex card is a relevant choice, as it is highlighted by a fantastic rewards program and a friendly foreign transaction policy!
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.
