Personal Finance

Is the Scotiabank Amex Gold any good?

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  • Aug 17th, 2015 3:41 pm
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Member
Mar 14, 2015
242 posts
25 upvotes
Winnipeg, MB

Is the Scotiabank Amex Gold any good?

I'm trying to decide what CC I should apply for. I'm looking for something with a good return as either cash back or travel along with some degree of insurances for travel. I currently will be grossing around 60k which I believe limits me slightly in regards to what I am able to apply for.

I am ok with annual fees, obviously prefer something with signup bonuses or FYF. Most places (but not all) around me seem to take amex, and the points structure seems good. Is there anything comparable or better that I should look at and apply for?

fwiw, I am already a scotiabank customer, but also have cards with MBNA (smartcash world and platinum plus)
26 replies
Deal Addict
User avatar
Apr 15, 2011
1484 posts
380 upvotes
It's a great card. The insurances on it are some of the best travel insurances of ANY card including Platinum cards.

You get 4 percent back on movie tickets, sports tickets, festivals, restaurants, bars, ANYWHERE you eat or drink. Night clubs! Lol.

And same 4 percent return on groceries and gas.

It's the best card and my go to.
Newbie
Apr 16, 2010
72 posts
18 upvotes
Vancouver
I might also suggest the Scotia Momentum Infinite, it won't give you 4% cash back to restaurants, but it does give 2% to drug store and reoccurring payments. I think it has the same insurance as the Amex Gold (I haven't read the whole policy). I like the infinite more because it also has a tap feature has have the first year waived. The gold has a 99 dollar fee but has a welcome bonus if you spend a certian amount within the first few months or something.

Here's the link to the Visa http://www.scotiabank.com/ca/en/0,,86,00.html
Member
Mar 14, 2015
242 posts
25 upvotes
Winnipeg, MB
gabe22400 wrote: I might also suggest the Scotia Momentum Infinite, it won't give you 4% cash back to restaurants, but it does give 2% to drug store and reoccurring payments. I think it has the same insurance as the Amex Gold (I haven't read the whole policy). I like the infinite more because it also has a tap feature has have the first year waived. The gold has a 99 dollar fee but has a welcome bonus if you spend a certian amount within the first few months or something.

Here's the link to the Visa http://www.scotiabank.com/ca/en/0,,86,00.html
I looked at both, trying to think what I would use more. The recurring bills would be nice to get 2% on, however the drug store would rarely get kicked in. I'm also in a phase where for the foreseeable future I'd likely get a good kickback out of the entertainment and dining out assuming everywhere I go accepts the amex (otherwise I have my other cards)
Deal Addict
Oct 7, 2012
2005 posts
696 upvotes
Montreal
Great cc. Cashback is incredible, and usually their first year offers for new applicants is amazing.
Only draw back is it's the worst acceptance versus MC and Visa
Jr. Member
Aug 23, 2008
171 posts
48 upvotes
Richmond Hill
Good card. Combine with your gas station loyalty card and buy gift cards to use at establishments that would otherwise only get you one percent.
Deal Addict
User avatar
Aug 5, 2011
2313 posts
192 upvotes
YF
GTA_CFP wrote: Good card. Combine with your gas station loyalty card and buy gift cards to use at establishments that would otherwise only get you one percent.
like what? never thought of that!
Member
Mar 7, 2011
285 posts
286 upvotes
Ontario
I've had this card since January... other than some merchants not accepting AMEX, this card's been wonderful. Extremely easy to redeem points - you just match it with any travel expenses you charge to your card and they'll credit your balance (in any amount over $50, up to the charged amount). Personally, I'm averaging about 2.2% actual return with this card.. It makes a big difference how much you spend that redeems 4% vs 1% rewards though.

The RBC Infinite Avion and BMO World Elite MasterCard are 2 other cards I've seen which are comparable for insurances. Scotia Momentum is good too actually. But take into consideration the higher annual fee (higher acceptance rate however), and a potentially lower rewards rate.
Deal Addict
Jun 21, 2008
2995 posts
413 upvotes
Toronto
GTA_CFP wrote: Good card. Combine with your gas station loyalty card and buy gift cards to use at establishments that would otherwise only get you one percent.
You saying that because you buy the gift cards at the gas station, you get the 4% on them?
Deal Addict
User avatar
Dec 8, 2010
2564 posts
992 upvotes
It's a great card, cheaper under STEP. Travel medical is longer than the VISA.
Deal Guru
Oct 3, 2006
10493 posts
793 upvotes
Toronto
My brother was offered this card for free for 3 years as part of his professional student LOC. Seems like an overall great card with excellent insurance coverage (rivals or beats Capital One Aspire Travel World MC) and generous cash back on several common categories. Only downside is fewer places accept AMEX.
Deal Addict
Jun 19, 2015
1294 posts
1512 upvotes
I've had the card for 2 years and absolutely love it. $50 minimum redemption, and you have 12 months from the purchase date to redeem points towards that purchase.

Go to your local gas station or grocery store that accepts Amex, and load up on gift cards for stores that either don't accept Amex, or would normally give 1% back. I find Safeway and Sobeys generally has the largest selection of gift cards.

Just to name a few off the top of my head.... Subway, A&W, Chapters, iTunes, Steam, Canadian Tire, Best Buy, Old Navy, Bath and Body Works, Winners, Gap, Home Depot, Home Hardware, Rona, Bed Bath & Beyond, Sport Chek, Sears, Claire's, La Senza, American Eagle, Forever 21, GameStop.

Really helps build up the points, and as mentioned, redeeming is a piece of cake.
Newbie
Apr 16, 2010
72 posts
18 upvotes
Vancouver
saberon2016 wrote: I've had the card for 2 years and absolutely love it. $50 minimum redemption, and you have 12 months from the purchase date to redeem points towards that purchase.

Go to your local gas station or grocery store that accepts Amex, and load up on gift cards for stores that either don't accept Amex, or would normally give 1% back. I find Safeway and Sobeys generally has the largest selection of gift cards.

Just to name a few off the top of my head.... Subway, A&W, Chapters, iTunes, Steam, Canadian Tire, Best Buy, Old Navy, Bath and Body Works, Winners, Gap, Home Depot, Home Hardware, Rona, Bed Bath & Beyond, Sport Chek, Sears, Claire's, La Senza, American Eagle, Forever 21, GameStop.

Really helps build up the points, and as mentioned, redeeming is a piece of cake.
The A&W and Subways don't take AMEX in vancouver, espcially if they are franchisee uses those TD machines. Tim Horton and 7-11 does the latter of which calls themselves "Grocery" stores so I can get my iTunes card for cheap - especially when the have those 10% off.
Deal Addict
Sep 2, 2010
1775 posts
823 upvotes
Bummer's Roost
Amex is not accepted as broadly as visa. You can sometimes see the proprietor wince when you pull out the Amex card as the fees are very high to the retailer.
Deal Addict
Jun 19, 2015
1294 posts
1512 upvotes
A&W and Subway at my city in Alberta don't accept Amex either. So i just run and grab a $10 GC...every little bit helps :)
Deal Fanatic
Aug 15, 2003
8946 posts
446 upvotes
Toronto
I can get this card free but I'm having a hard time figuring out how to spend $500 over 3 months for the 25,000 points for the AMEX Gold...
Jr. Member
Jan 5, 2012
157 posts
11 upvotes
GTA_CFP wrote: Good card. Combine with your gas station loyalty card and buy gift cards to use at establishments that would otherwise only get you one percent.
Good idea. My simply cash can also use it this way right? I can buy some gas gift cards before the end of 6 month and then get the 5% cash back, use gift cards later after 6 month, right? Thank you. I like this forum. :razz:

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