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[PROMOTION] 30,000 Sign Up Bonus Points with the Scotiabank Gold American Express Card (expired on October 31, 2014)

With the Scotiabank Gold American Express Card, you earn Scotia Rewards points that will be used for travel expenses. The highlights of the credit card are as follows:

  • $99 annual fee
  • $29 for additional cardholders
  • Earn 30,000 sign up bonus after your first purchase (accounts need to be opened before October 31, 2014)
  • Earn 4 points for every $1 you spent on gas, grocery, dining and entertainment purchases
  • Earn 1 point for every $1 spent on all other purchases

The 30,000 sign up bonus points essentially wipes out the $99 annual fee, because 30,000 points gives you $300 in travel expenses. This essentially gives you a $201 net ($300 – $99)

Previously, the promotion was that the $99 annual fee was waived, but only 15,000 sign up bonus. As a result, you were getting a $150 net. So the current promotion is actually more lucrative, except that you have to pay $99 up front, before you can redeem your points. If you can take advantage of using the points, then this is a great time to sign up for the credit card.

Your points need to be redeemed on travel expenses, which also includes any taxes and/or fuel surcharges that you may pay. The reason is because your points are redeemed against your overall purchase.

Earning 4 points for every $1 spent on gas, groceries, dining and entertainment can be very lucrative and the points can add up in a hurry. The reason I still hesitate to get such a credit card is because to make this credit card worthwhile, you need to continually hang on to the credit card to earn enough points for a reward redemption. That means you have to continually pay the $99 fee every year.

I still prefer the Capital One Aspire World MasterCard. Maybe one day I will switch over, but not at the moment.

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Pointshogger aims to provide analysis and updates on earning loyalty reward points and maximizing the value of your points. We hope to inspire our readers to experience the joy of travel and make the most out of what they've already got!

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