Menu Toggle
Search
  1. Home
  2. Credit Cards
  3. Scotiabank Platinum American Express Card Review 2024: Is It Worth It?
Published January 31, 2024
Reading Time
7 minutes

Scotiabank Platinum American Express Card Review 2024: Is It Worth It?

The Scotiabank Platinum American Express Card earns Scene+ points and comes with airport lounge passes, insurance coverage and no foreign transaction fees.

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

4.5

NerdWallet Rating

Best for travel enthusiasts looking for flat-rate rewards and robust travel insurance.

If you often spend money overseas and want to earn rewards points with flexible redemption options, the Scotiabank Platinum American Express Card may be a practical choice.

Learn more about how we evaluate cards.

    The Scotiabank Platinum American Express Card is a low-interest rewards credit card that earns Scene+ points. Cardholders earn points for each eligible dollar spent, with accelerated rates on purchases made through the Scene+ Travel portal.

    Scotiabank Platinum American Express® Card

    Scotiabank Platinum American Express® Card
    • Annual Fee
      $399
    • Interest Rates
      9.99%
    • Rewards Rate
      2x Points
    • Intro Offer
      Up to 60,000 Points
    Card details
    • Earn up to $2,100* in value in your first 14 months, including up to 60,000* bonus Scene+ points. Offer ends October 31, 2024.
    • You will not pay 2.5% foreign transaction fees on any foreign currency purchases, including online shopping and when travelling abroad. Only the exchange rate applies.
    • Earn 2X Scene+™ points for every $1 CAD you spend on all your eligible purchases.
    • Scene+ points can be redeemed for travel purchase, merchandise and other non-travel rewards such as gift cards and prepaid cards.
    • You must redeem a minimum of 5,000 points per travel-related rewards redemption, equivalent to $50 in travel savings. Points must be redeemed within 12 months of the purchase date.
    • $399 annual fee.
    • Redeem points for any flight, any time through Scene+ Travel, a full-service travel agency. Plus, take advantage of a best price guarantee on airfare.
    • Get a Hertz #1 Club Gold membership for special privileges and rental car benefits at over 8,500 locations in 147 countries.
    • Enjoy culinary events and experiences, entertainment, luxury fashion, tours, and more through American Express benefits, including American Express Invites, Platinum VIP offers and access to 24/7 premium concierge services for restaurant reservations, show tickets, and gift purchases.
    • Lounge access at over 600 VIP airport lounges around the world with a complimentary Priority Pass membership, which includes 10 free visits per year.
    • 12 types of insurance provided, including 31-day travel medical benefits — up to $2 million in coverage — for you, your spouse and any dependent children under the age of 65. 10-day coverage available for those over the age of 65.
    • Preferred rates: 9.99% for purchases, 9.99% for cash advances.
    • To be eligible, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
    • Terms and Conditions Apply. Click ‘Apply Now’ for complete details.

    Scotiabank Platinum American Express Card full review

    If you like to travel and want to earn rewards points with flexible travel redemption options, the Scotiabank Platinum American Express Card may be a practical choice.

    Benefits of the Scotiabank Platinum American Express Card

    Drawbacks of the Scotiabank Platinum American Express Card

    Who should get the Scotiabank Platinum American Express Card?

    Travel bugs that frequently spend money overseas will be best positioned to take advantage of this card’s benefits, such as its comprehensive travel insurance, free airport lounge passes and no foreign transaction fees. 

    Is the Scotiabank Platinum American Express Card worth it?

    The Scotiabank Platinum American Express Card costs $399 annually, so you need to extract at least that much value from the card for it to be worthwhile. According to NerdWallet analysis, one Scene+ point is worth around one cent. So, earning two Scene+ points per $1 CAD spent, you’d need to spend roughly $19,950 in a year ($1,663 per month) to earn 39,900 points, which equals $399. 

    Something else to consider: this card’s lower interest rate can help offset the annual fee, especially if you’re working to pay down credit card debt or typically carry a balance on your card.

    Scotiabank customer ratings

    Scotiabank Platinum American Express Card eligibility

    Who qualifies for the Scotiabank Platinum American Express Card?

    You must be a Canadian resident and at least the age of majority for your province or territory to be eligible for the Scotiabank Platinum American Express Card. You’ll also need to have a minimum annual income of $12,000 and no history of bankruptcy in the past seven years. 

    Approximate credit score needed for approval

    Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. However, higher scores generally mean better chances of approval, and that’s true regardless of the type of credit you’re applying for.

    Want to learn more? Visit our “What Credit Score is Needed for a Credit Card?” page.

    Scotiabank Platinum American Express Card rewards

    Welcome offer
    Ongoing rewards
    Card value

    Earn up to 60,000 Scene+ points in the first 14 months of card ownership. 

    • Earn 50,000 Scene+ points when you spend at least $3,000 on eligible purchases in the first three months.
    • Earn 10,000 Scene+ points when you spend at least $10,000 on eligible purchases in the first 14 months. 

    Offer expires Oct. 31, 2024.

    • 3x Scene+ points on hotels and car rentals when you book through the Scene+ Travel platform.  
    • 2x Scene+ points on everyday purchases.

    Scotiabank suggests the combination of its welcome offer, ongoing Scene+ rewards and the card’s perks, like no foreign transaction fees and airport lounge passes, provide up to $2,187 in value for new cardholders in the first 14 months, depending on how they use the card. 

    According to Scotiabank, the $2,187 breaks down as follows:

    • $600 in points from the card’s welcome offer (60,000 Scene+ points). 
    • $141 in savings from zero foreign transactions fees. 
    • $742 in travel rewards by using the card for everyday spending. 
    • $704 in savings by using the complimentary airport lounge passes. 

    The Scotiabank Platinum American Express Card comprehensive travel insurance that could be worth thousands, should you ever need to put it to use.

    Point value breakdown

    The value of Scotiabank Scene+ points may vary based on the redemption method you choose, but you can expect to get around one cent per point on travel, movies, dining, entertainment, banking, and retail, pharmacy and grocery shopping.

    How to apply for the Scotiabank Platinum American Express Card

    You can complete the Scotiabank Platinum American Express Card application from Scotiabank’s website:

    1. Select the Apply now button from the Scotiabank Platinum American Express Card’s page on Scotiabank’s website.
    2. Review the card’s terms and conditions and select ‘Agree’ to continue.
    3. Enter your personal details, including your full name, phone number and email address.
    4. Create a username and password for your Scotiabank account.
    5. Verify your identity. 
    6. Provide any required personal and financial information, such as employment status and annual personal income.
    7. Submit your application. 

    Scotiabank Platinum American Express Card vs Scotiabank Gold American Express Card

    Both of these Scotiabank credit cards earn Scene+ points, but their annual fees, earn rates and interest rates vary significantly.

    Scotiabank Platinum American Express CardScotiabank Gold American Express Card
    Annual fees$399.$120.
    Interest rates9.99% on purchases and cash advances.20.99% on purchases. 22.99% on cash advances.
    Reward rate

    • 3x Scene+ points per $1 spent on travel when you book through the Scene+ Travel platform.

    • 2x Scene+ points per $1 spent on everyday purchases.


    • 6x Scene+ points per $1 spent at eligible grocery stores.

    • 5x Scene+ points per $1 spent on dining, food delivery and eligible grocery stores.

    • 5x Scene+ points on entertainment purchases like movie tickets.

    • 3x Scene+ points per $1 spent on gas and daily transit options.

    • 3x Scene+ points on eligible streaming services.

    • 1x Scene+ point per $1 spent on all other everyday purchases.

    Benefits

    • No foreign transaction fees.

    • 10 complimentary airport lounge passes through Priority Pass (membership not included), and complimentary access to Plaza Premium Lounges.

    • Access to VIP events, such as New York Fashion Week and Pebble Beach golf course.

    • Extensive travel insurance coverage.


    • No foreign transaction fees.

    • Discounted membership to Priority Pass.

    • Access to Amex Front Of The Line’s presale tickets and reservations.

    • Extensive travel insurance coverage.

    Reasons you might want a different card

    The Scotiabank Platinum American Express Card may not be suitable if:

    » MORE: Best American Express credit cards

    Scotiabank Platinum American Express Card facts

    Scotiabank Platinum American Express Card
    Card typeRewards credit card.
    Fees and interest rates
    Annual fee$399.
    Regular/purchase APR9.99%.
    Penalty APR19.99% if you miss two payments within 12 months. This penalty APR will stay in place until you’ve made 12 consecutive payments on time.
    Cash advance APR9.99%.
    Cash advance fee$5 to $7.50 per transaction.
    Balance transfer APR9.99%.
    Balance transfer fee3% promotional rate (minimum $5).
    Foreign transaction feeNo foreign transaction fees.
    Rewards and benefits
    Intro offerEarn up to 60,000 Scene+ points in the first 14 months of card ownership.

    • Earn 50,000 Scene+ points when you spend at least $3,000 on eligible purchases in the first three months.

    • Earn 10,000 Scene+ points when you spend at least $10,000 in the first 14 months.


    Offer expires Oct. 31, 2024.
    Reward earn rates

    • 3x Scene+ points on hotels and car rentals when you book through the Scene+ Travel platform.

    • 2x Scene+ points on everyday purchases.

    Other perks

    • No foreign transaction fees.

    • 10 complimentary airport lounge passes through Priority Pass (membership not included), and complimentary access to Plaza Premium Lounges.

    • Access to VIP events, such as New York Fashion Week and Pebble Beach golf course.

    • Extensive travel insurance coverage.

    Insurance coverage
    Travel accidentUp to $500,000 per insured person, up to a maximum of $1 million per occurrence.
    Travel medicalUp to $2 million per insured person per trip.
    Flight delayUp to $1,000.
    Trip cancellation and interruptionUp to $2,500 per person up to $10,000 per trip for costs that arise from a cancelled trip from a covered cause.

    Up to $5,000 per person up to $25,000 per trip covers expenses that arise from having to cancel the remainder of a trip in progress from covered causes.
    Baggage delayUp to $1,000.
    Lost or stolen baggageUp to $1,000 of coverage per trip for all insured persons.
    Hotel burglaryUp to $1,000.
    Rental car theft/damageFor up to 48 days.
    Extended warrantyUp to one additional year.
    Purchase Protection90 days.
    Mobile Device ProtectionUp to $1,000.

    Rating Methodology

    NerdWallet Canada rates credit cards according to overall consumer value and their suitability for specific kinds of consumers. Factors in our evaluation methodology include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as airline or hotel perks or the ability to transfer points.

      Frequently asked questions about Scotiabank Platinum American Express Card

      What is the minimum income for the Scotiabank Platinum American Express Card?

      A minimum annual income of $12,000 is required to qualify for the Scotiabank Amex Platinum Card.

      What is the minimum credit limit of the Scotiabank Platinum American Express Card?

      There is a $10,000 minimum credit limit for the Scotiabank Platinum American Express Card.

      Is the Scotiabank Platinum American Express Card the same as the Scotiabank American Express Platinum?

      The Scotiabank Platinum American Express Card and Scotiabank American Express Platinum Card are the same product. Scotiabank refers to the credit card on its site both ways.

      Article Sources

      Works Cited
      1. J.D. Power, “J.D. Power 2023 Canada Credit Card Satisfaction Study,” accessed October 16, 2023.

      DIVE EVEN DEEPER

      25 Best Credit Cards in Canada for March 2024

      25 Best Credit Cards in Canada for March 2024

      NerdWallet Canada’s picks for the best credit cards include top contenders across numerous card categories. Compare these options to find the ideal card for you.

      Credit Card Interest Calculator

      Credit Card Interest Calculator

      Interest charges don’t need to be a mystery. Use our credit card interest calculator to see how much interest you’d owe if you carry a credit card balance.

      Best American Express Cards in Canada

      Best American Express Cards in Canada

      Among the best Amex credit cards in Canada are options for travel, cash back, business and more. Cardholders can earn Aeroplan, Marriott Bonvoy and American Express Membership Rewards points.

      Scotiabank Value Visa Card Review 2024: Is It Worth It?

      Scotiabank Value Visa Card Review 2024: Is It Worth It?

      The Scotiabank Value Visa Card is a low-interest credit card with a low annual fee. But it doesn’t offer rewards or insurance coverage.

      Back To Top