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Changes to the Scotiabank Gold American Express® Card

Scotiabank has revamped one of its top cards, the Scotiabank Gold American Express® Card. Today, we are doing to discuss the changes. I think that you will find some pleasant surprises below!

First off, let’s recap the previous and current highlights.

Previous Highlights

  • $99 annual fee
  • $29 annual fee for a supplementary cardholder
  • Earn 20,000 sign up bonus
  • Earn 4 points for every $1 spent on gas, grocery, dining and entertainment purchases (on the first $50,000 in purchases)
  • Earn 1 point for every $1 spent on all other purchases
  • Have at least $12,000 in personal annual income

Current Highlights

  • $120 annual fee
  • $29 annual fee for a supplementary cardholder
  • Earn 30,000 sign up bonus (earn 25,000 after spending $1,000 in the first 3 months and another 5,000 after spending $10,000 in an anniversary year) (if you apply before October 31, 2019)
  • Earn 5 points for every $1 spent on grocery, dining and entertainment purchases (on the first $50,000 in purchases)
  • Earn 3 points for every $1 spent on gas, transit, and select streaming services (on the first $50,000 in purchases)
  • Earn 1 point for every $1 spent on all other purchases
  • No foreign transaction fees
  • Have at least $12,000 in personal annual income

Annual Fee

The increase in annual fee is not welcomed, but as we continue with this post, you will see that there are enhanced benefits to justify this increase. The good news is that they did not increase the fee for supplementary cardholders, which is good, because they can enjoy the enhanced benefits without more costs.

Unfortunately, we have seen first year fee waived promotions previously, but there is none at the moment.

Sign Up Bonuses

The sign up bonus changes all the time, so it is very hard to compare this. For now, the current 30,000 sign up bonus is one of the highest we’ve seen with this card.

Earning Ratios

You may notice that the multiplier bonuses have been shifted around. Grocery, dining (includes fast food, drinking establishments, food delivery and food subscriptions) and entertainment (movies, theatre, and ticket agencies) increase from 4 to 5 points per dollar.

While gas was decrease from 4 to 3. However, transit (rideshare, buses, taxis, subway, ferries, passenger railways, limousines) and streaming services (Apple Music, Cineplex Digital Store, iTunes, Kindle, Kobo, Netflix, SiriusXM, Spotify) have been added.

Overall though, this was definitely a positive change. There is more value being offered.

Foreign Transaction Fees

This is the game changer with the gold card. The increase annual fee can be justified by the foreign transaction fee savings. If you look at the multiplier bonuses listed above, this card has really become a day-to-day travel expense credit card.

Conclusion

Overall, I think that Scotiabank has done a great job revamping this credit card.

What are your thoughts about the changes, please let us know in the comment section below!

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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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