Scotiabank currently has a higher than usual signup bonus at 4,000 points on the Scotiabank Scene Visa Card that is equivalent to 4 free movies. Below are the highlights of the credit card:
- No annual fee
- Earn 4,000 sign up bonus points (if you apply before
October 31, 2014)
- Earn 5 points for every $1 spent at Cineplex Entertainment theatres (including movie ticket, popcorn, drinks, etc.)
- Earn 1 point for every $1 spent on all other purchases
I find Scene points very valuable if you are a fan of going to the movies. Aside from the credit card, every time you watch a movie, regardless of which time of the day, you will earn 100 points. Even if you did not have the credit card, after 10 movies, you get the 11th one free because you can redeem a movie for 1,000 points.
Normally, the sign up bonus is only 2,000 points, but if you sign up before October 31, 2014, you can get 4,000 sign up bonus points.
To qualify for the full 4,000 points, you need to make a purchase within 60 days of opening the credit card account for the first 2,000 bonus points. The additional 2,000 points will be awarded within 2 statement cycles of the first bonus.
What is valuable is that if you go on Tuesday nights, for $5.50 a night, after 10 movies, you would earn:
- $5.50 x 10 (movies) = $55
- $5.50 x 5 points (credit card spend) = 275 points
- 10 (movies) x 100 points = 1,000 points
After spending only $55, you already have a free movie (total: 1,275 points). You can then use 1,000 points on a 3-D IMAX movie which retails for at least $15. Then, $15 / $55 = 27% return on your spending, which I think is great value.
If you are a fan of going to the movies, this no annual fee credit card is a no brainer.