Personal Finance

Amex vs VISA: which (annual fees waived) credit card to get?

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  • Nov 6th, 2014 1:27 pm
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Newbie
Apr 20, 2012
6 posts
Saint-Laurent

Amex vs VISA: which (annual fees waived) credit card to get?

Hi guys,

I'm a student and Scotiabank is offering me a choice between their Scotiabank Gold Amex (20,000 bonus points; about $200; 4x points at certain locations) and ScotiaGold Passport VISA (5,000 bonus points ;) . I already have a no-frills MasterCard, but the one I choose will be my primary from credit card now on.

Which one should I take?
13 replies
Sr. Member
Sep 24, 2010
917 posts
65 upvotes
Toronto
I like the Amex option as long as you can plan your spending to offset the annual fee.
Deal Addict
User avatar
Oct 4, 2004
4349 posts
1588 upvotes
Vancouver
The Scotiabank Amex is a far better card with a far better sign-up bonus. Next year the card won't be free though.. If you have a no-frills credit card, perhaps the 1% you get "everywhere else" is still better than what you get now. Remember amex isn't accepted everywhere though.
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Sr. Member
Aug 14, 2013
548 posts
51 upvotes
Montreal, QC
Is this a professional program offered by Scotia?
the Amex Gold will bear an annual fee of 59$, and the Passport Gold will be free for professional students.
Amex is not widely accepted while Visa is accepted almost everywhere.
Sr. Member
Dec 22, 2013
930 posts
223 upvotes
EDMONTON
What is this nofrills mastercard you speak of? Do you mean the PC mastercard?
Newbie
Apr 20, 2012
6 posts
Saint-Laurent
MrAmex wrote: Is this a professional program offered by Scotia?
the Amex Gold will bear an annual fee of 59$, and the Passport Gold will be free for professional students.
Amex is not widely accepted while Visa is accepted almost everywhere.
Yes, it's part of their professional student package so it comes with the PSLOC. So to be clear these are my only choices, and both cards are free for me for the next 4 years (annual fees waived). How bad is Amex in terms of being accepted?
tsimpson76 wrote: What is this nofrills mastercard you speak of? Do you mean the PC mastercard?
Well it's not exactly no-frills. It's the BMO student mastercard. It has SPC and 0.5% cashback with no annual fee.
Sr. Member
Aug 3, 2006
764 posts
141 upvotes
Toronto
If you already have a MasterCard then I'd suggest you get the Amex. If your Amex gets turned down you can always fall back on your "no-frills" MasterCard while still being able to benefit from where it is accepted.
Deal Addict
User avatar
Jul 10, 2004
2256 posts
6076 upvotes
Vancouver
FYI: in Canada, many (most?) retailers do not accept AMEX.
Deal Addict
Feb 10, 2013
4782 posts
1324 upvotes
Richmond
as a student you may travel a lot. Some restaurants in the states only take amex. Take the amex. it's 4% back entertainment and groceries for travel
Deal Addict
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Jan 4, 2009
4191 posts
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on the links!
coolwasabi wrote: FYI: in Canada, many (most?) retailers do not accept AMEX.
FYI: this (most?) is not true
Sr. Member
Aug 14, 2013
548 posts
51 upvotes
Montreal, QC
I it were me, I would take Scotia Amex Gold. Passport is a bad travel card, while Amex Gold is an excellent travel card.
Amex Gold provides more insurances.
Deal Fanatic
User avatar
Mar 30, 2004
5302 posts
2996 upvotes
Durham Region
Amex Gold is a great card, if your spending habits align with Amex's acceptance.
Member
Oct 4, 2006
279 posts
88 upvotes
Sauerkraut wrote: FYI: this (most?) is not true
This.

I was on my FYF for my Amex Gold card and acceptance really wasn't a huge deal. Most restaurants took it, most big name retailers took it. The only ones that had an issue was the Loblaws group of companies and Asian restaurants/grocery stores.
Member
Oct 31, 2009
404 posts
156 upvotes
Vancouver
coolwasabi wrote: FYI: in Canada, many (most?) retailers do not accept AMEX.
How about some?
Many small retailers (cornershops) don't. Superstore and associated stores, and next year Costco are the big ones that come to my mind, but other than that it's fine.

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