UPDATE- The part on the lounge access has been corrected
The 30,000 sign up bonus with the Scotiabank Gold American Express Card has ended, but there seems to be a better promotion going on now with the first year fee waived. The highlights of the new promotion:
- $99 annual fee (first year fee waived if you apply before
February 28, 2015)
- $29 for additional cardholders
- Earn 20,000 sign up bonus points when you spend $1,000 within the first 3 months
- 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
- Receive a 35% off the Priority Pass to access worldwide lounges.
What makes this credit card a no-brainer to get for at least a year is the first year annual fee waived. In the past, we’ve seen the $99 annual fee was waived with only 15,000 sign up bonus points. So this is one of the better promotions that we’ve seen. If you held of getting this credit card before because of the annual fee, now is the time to go for it.
Keep in mind that the points that you earn need to be redeemed on travel expenses only. So if you do not travel, then this is not the card for you. What I dislike about this credit card is that you are stuck with these points and you need to retain the credit card to use the points. Therefore, the $99 will eventually kick in if you plan to hold on to this credit card. Therefore I still prefer the Capital One Aspire World MasterCard. Maybe one day I will switch over, but quite yet.
The credit card also offers a discount on the Priority Pass membership. You only need to pay $65 USD (instead of the standard $99 yearly fee), and each lounge visit will cost an additional $27 USD. If you happen to want to purchase a Priority Pass lounge pass anyway, then be sure to take advantage of the discount.
As usual, do an analysis and calculation to determine whether this is the right card for you.