I was invited to a round table by Scotiabank and I want to share some fun information that I learned. Please share your thoughts with us in the comment section below and I will be sure to pass on the information to Scotiabank!
Scotiabank offers its MoreScotiaRewards program that is currently a fixed rewards program. In other words, for every 1 point that you earn, you can redeem it for 1 cent worth. There is the option to redeem for merchandise, but be sure to redeem for more than 1 cent per point in value.
Unfortunately, there are not current plans to include any transferable like RBC Avion and American Express Membership Rewards. Hopefully this will change in the future.
What changes would you like to see to the MoreScotiaRewards program?
Airlines or Hotel Co-Branded Card
One of the burning questions that I had is whether Scotiabank has approached (or been approached by) airlines and hotel loyalty programs to offer a co-branded card. I understand that phone calls have been made, but not decisions have been made.
Personally, I would like to see them team up with at least one of American Airlines (AAdvantage), United Airlines (Mileage Plus), Hilton (HHonors), Hyatt (World of Hyatt) or Intercontinental Hotel Group (IHG Rewards Club).
Who would you like Scotiabank to team up with?
Some work is being done to consider other multiplier bonus categories with their cash back cards. It will not look like the Tangerine model, where you can choose 2-3 categories out of a list. So be on the lookout for that.
Personally, I like the Tangerine model where you can select categories of your choice to be more customized to personal spending.
In the meantime, what multiplier bonus category would you like Scotiabank to add into their cash back portfolio?