Our Verdict
The Scotiabank Gold American Express Card earns strong marks for delivering one of Canada's best rewards structures for everyday spending, particularly with its market-leading 6x points at select grocery stores. The elimination of foreign transaction fees, typically 2.5% on most cards, adds exceptional value for international travelers and online shoppers, while the generous welcome bonus and first-year fee waiver make it easy to test the card's benefits risk-free. The comprehensive insurance package rivals cards with much higher annual fees, providing genuine peace of mind for travelers. The card loses points primarily due to American Express acceptance limitations, which can be frustrating when your highest-earning card isn't accepted at many retailers. The grocery rewards, while generous, are restricted to Empire-owned stores, limiting flexibility for shoppers who prefer other chains. Additionally, while Scene+ points offer good flexibility, their redemption value can vary significantly depending on how you use them, and they generally don't match the premium redemption options of travel-focused programs. Despite these limitations, for Canadian households that shop at Sobeys or its affiliated stores and value rewards on everyday purchases, this card delivers outstanding value that easily justifies its modest annual fee.
8.1 / 10
- Earn up to 6x points per $1 spent
- Earn a welcome bonus of 50,000
- No foreign transactions fees
- Travel perks and insurance
- You'll pay an annual fee of $120
- Amex is not as widely accepted as Visa and Mastercard
Requirements
Be a Canadian citizen or permanent resident. Be at least 18 years old, or the age of majority in your province or territory. Have an annual gross income of at least $12,000.
Additional Details
- Balance Transfer APR: 22.99%
- Currency Conversion Fee: 2.5%
- Minimum Credit Score: 700+
- Minimum Deposit to Open: $0
Categories: No Foreign Transaction Fee, Airline Lounge Access, Scotiabank, Featured, Rewards, Travel, Lost Luggage
