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Scotiabank

Scotiabank Gold AMEX $300 travel welcome bonus. First Year Fee Waived!

Member
User avatar
Oct 25, 2014
291 posts
245 upvotes
Boswell, BC
I was approved on May 17, and received an automated email yesterday from RSM.ca asking "Did YOU Miss A Step?" and prompting me to complete my application. I followed up with support asking if there was some problem with Scotiabank confirming my approval. They quickly replied, repeating that confirmation can take 4-8 weeks and to contact them again if status was still pending on June 17.

Anyways it seems like a strange procedure to send a nag email at the 2 week point if it is true that 4 weeks is the minimum confirmation delay.
Banned
Mar 13, 2017
332 posts
60 upvotes
Question: I just received this card. If I booked a hotel right now will I be able to get a $300 credit when the points come? And can this hotel booking be part of my minimum spend?
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Sep 19, 2004
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beatles89 wrote: Question: I just received this card. If I booked a hotel right now will I be able to get a $300 credit when the points come? And can this hotel booking be part of my minimum spend?
You get 30K pionts ($300) 5-6 months AFTER meeting the $750 spending (yes your hotel booking can count)
once you get the 30K points, you can redeem against your hotel booking spent ON THIS CARD
Which Credit Cards to sign up? >> Jerry's Mega Thread of Credit Cards Q&A
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Sep 19, 2013
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beatles89 wrote: Question: I just received this card. If I booked a hotel right now will I be able to get a $300 credit when the points come? And can this hotel booking be part of my minimum spend?
it'll definitely count towards min spend. no idea about when the credit will come, but few posters have reported it takes 3-4-5 months total.
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Banned
Mar 13, 2017
332 posts
60 upvotes
jerryhung wrote: You get 30K pionts ($300) 5-6 months AFTER meeting the $750 spending (yes your hotel booking can count)
once you get the 30K points, you can redeem against your hotel booking spent ON THIS CARD
Ah great so I can book the hotel on the card as my first purchase and then get the credit 5-6 months later? Not a bad deal then.
Member
Apr 17, 2016
358 posts
267 upvotes
Toronto
TorontoEh wrote: Anyone here has their online banking login broken for the Rewards section? Meaning I just got my first statement and I can't seem to see Points Balance in detail, it asks me to re-Login and kicks me out of the site.
I have the same issue. They first told me it is because I have two profiles that need to be merged and the issue will be resolved. Well, they merged them and I still have the same error. The two departments (scotiaonline and scotiarewards) don't like to talk to each other so they keep telling me to call the other department for a resolution. I will give them another call later today to see what's going on. I get error "[Error No. 1005] Invalid interface record" when I click on my rewards balance.
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Oct 25, 2005
3122 posts
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North Vancouver
5-6 months AFTER ? never seen any credit card offer credit that long :twisted:

do you have to book hotel from Scotiabank website or can from any website?

Scotiabank application system is broken, my wife first applied, denied, I took someone's advice apply 1 week later, pending, call in 10 days later, got approved but need go to branch to pick up card..................mine is pending, call 1 week later, send email link need upload driver license, call back after another 1 week, approve on the spot.

Overall during me and my wife 2 weeks application time frame, not a single call from Scotia bank, , I have no faith in their customer service, will cancel ASAP

jerryhung wrote: You get 30K pionts ($300) 5-6 months AFTER meeting the $750 spending (yes your hotel booking can count)
once you get the 30K points, you can redeem against your hotel booking spent ON THIS CARD
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Aug 8, 2012
10198 posts
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coolintheshade wrote: [/b]

Why? If you don't already have a ton of inquiries, 2 won't make a difference over 1.
Some people put far too much emphasis on credit pulls.
Because why not. 1 is better than 2.

Churners have "a ton of inquiries" and 'plan-to-be-a-churner' people plan to have a ton in the future.

1 avoided hit now is 1 extra bonus later that doesn't get declined.

I applied for the Scene Visa on the same day (minutes later) as Scotia Gold Amex to get $150 in gift cards instead of just $75. I space out my applications and save them for deals that are worth more than "just" $75 so I wouldn't have otherwise applied for the Scene Visa on its own when there are other better deals to go after.

But since I heard two apps on same day would only use one credit hit, I considered the 2nd app 'free' and used it just to juice the bonus for the Gold Amex :)

This really only matters for churning and spacing out apps.

I was considering applying for *3* from Scotia in the same day too but that seemed a tad excessive :) (one Amex and one Visa seemed 'justifiable' :))
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Member
Feb 2, 2012
238 posts
154 upvotes
Burnaby
Existing Scotia loan customer (no credit cards). Excellent credit. Auto decline online. Called in, was told that I was declined because I already have a very high unused limit on other non-Scotia revolving credit - a secured line of credit (which is a six figure unused limit). Dumb.
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Aug 8, 2012
10198 posts
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coolintheshade wrote: I wasn't assuming anything. I simply said if you haven't already got a ton of inquiries, 2 won't hurt any more than 1. That's not assuming anything.
You also said in the next sentence "Some people put far too much emphasis on credit pulls" in a direct quote of his post which many people would read as you passing judgement on him directly, which assumes that "some people" place too much emphasis even if they DO already have a lot of inquiries.
All these new cards with a new credit history and new to the country is just irresponsible of the issuers that gave them to you.
... and there's more assumptions and judgement calls.

You don't know his scenario. He could be a $200k/yr doctor or $1M/yr CEO. You don't know enough to say it is irresponsible. So you are assuming and passing judgment.

Some people are quick to assume and pass judgment.

Don't worry, see ... I said "some people" so that doesn't refer to you, or does it? ;)
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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Aug 8, 2012
10198 posts
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BC
jerryhung wrote:
You get 30K pionts ($300) 5-6 months AFTER meeting the $750 spending (yes your hotel booking can count)
once you get the 30K points, you can redeem against your hotel booking spent ON THIS CARD
ecgz88 wrote: 5-6 months AFTER ? never seen any credit card offer credit that long :twisted:
It's only 5-6 months "after meeting the spending" if you spend $750 on day 1.
If you spend $750 on day 90 it's 1-2 months "after".

They seem to wait til 3rd month to see if you hit the min... which makes some sense since you could spend then return.
do you have to book hotel from Scotiabank website or can from any website?
Once you try to redeem rewards it gives you a list of eligible "travel" charges you can redeem against. Like Cap1-style redemption, except 365 days of charges show up instead of just 90 days.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Fanatic
Oct 22, 2014
5433 posts
3907 upvotes
Richmond Hill
ecgz88 wrote: 5-6 months AFTER ? never seen any credit card offer credit that long :twisted:

do you have to book hotel from Scotiabank website or can from any website?

Scotiabank application system is broken, my wife first applied, denied, I took someone's advice apply 1 week later, pending, call in 10 days later, got approved but need go to branch to pick up card..................mine is pending, call 1 week later, send email link need upload driver license, call back after another 1 week, approve on the spot.

Overall during me and my wife 2 weeks application time frame, not a single call from Scotia bank, , I have no faith in their customer service, will cancel ASAP
That's not as bad as... I applied and got approved instantly online mid April. Radio silence for 2 weeks. Then I call and found that the card is frozen (Credit Karma shows card opened mid April and it was closed the next day, WTF), because they need me to come into a branch for identification and show paystub. I do this early May. After all done, I make sure to call and they said it's fully approved and card is sent out. Two more weeks later in May no card. Every call I make Scotia says just wait. Last week I called and Scotia said its ready at a branch. I go into branch but there is no card. I call again, and Scotia decided to re-issue a new card to send to branch, and promise me a rush-order. Five business days later (yesterday), I call and they said it's ready in branch. I goto branch and they cannot find it. The branch escalated this to a manager in the phone CSR department - obviously someone misled me (probably twice).

The manager at the Scotia branch was nice, as he helped me last week. And finally, I got a call from that branch manager today that it's in and ready for pick up. Fingers crossed!

Easy peasy - from mid April to June 1 to get the card. Then 5/6 more months to redeem the welcome bonus. Easy peasy!

This would be a perfect script for "how to troll a CC churner"
Deal Fanatic
Oct 22, 2014
5433 posts
3907 upvotes
Richmond Hill
ace604 wrote: Because why not. 1 is better than 2.

Churners have "a ton of inquiries" and 'plan-to-be-a-churner' people plan to have a ton in the future.

1 avoided hit now is 1 extra bonus later that doesn't get declined.

I applied for the Scene Visa on the same day (minutes later) as Scotia Gold Amex to get $150 in gift cards instead of just $75. I space out my applications and save them for deals that are worth more than "just" $75 so I wouldn't have otherwise applied for the Scene Visa on its own when there are other better deals to go after.

But since I heard two apps on same day would only use one credit hit, I considered the 2nd app 'free' and used it just to juice the bonus for the Gold Amex :)

This really only matters for churning and spacing out apps.

I was considering applying for *3* from Scotia in the same day too but that seemed a tad excessive :) (one Amex and one Visa seemed 'justifiable' :))
Your 2 app/1 hit approach saved 1 hard inquiry on your credit report but you are still opening up two tradelines. The tradelines stay on your credit profile longer than the inquiries. What is the difference?
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Aug 8, 2012
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echino wrote: Existing Scotia loan customer (no credit cards). Excellent credit. Auto decline online. Called in, was told that I was declined because I already have a very high unused limit on other non-Scotia revolving credit - a secured line of credit (which is a six figure unused limit). Dumb.
Might have something to do with two credit pulls last night too? :)

When I called in to get my 2nd (of two Scotia cards applied for in the same day) approved the guy mentioned he had to manually recheck my ratios. I pushed him and asked if that meant doing a credit hit. He said no, but that the new Scotia Gold Amex limit wasn't included in the calculation since I didn't have it yet (obviously) when they pulled the report for the app and that they use a certain % of your limit and add that to debt servicing cost to calculated your TDSR.

I forget if it was 3% or 1%. Doesn't matter if unused.

He said 'that's they way their bank does it, others may do it differently.'

So a $100k unused LOC might add $1-3k to your debt servicing per month and blow your ratios.

I posted about this in either this or the other Scotia Gold Amex thread.

I don't know if they do that for ALL revolving accounts or maybe just new ones? Not sure if LOCs or HELOCs get treated differently.

These two cards pushed me over 2x salary total credit limit so I'm guessing it was only 1% or not all existing revolving, otherwise 3%/month of 200% of salary x 12mo = 36% debt servicing alone right there without the numbers I had already given them for mortgage/housing costs which would push the number way over 50% and I'm guessing there threshold is more like mortgage approval around 42%?

Lots of guessing :)

I was ready to ask him to move some limit from the Amex to the Visa to approve it if it came to that since I requested a high limit on the Amex but just the min. $5k limit on the Scene Visa since I only got it for the $75 GC from GCR (and two free movies :))
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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Elfwood wrote: Your 2 app/1 hit approach saved 1 hard inquiry on your credit report but you are still opening up two tradelines. The tradelines stay on your credit profile longer than the inquiries. What is the difference?
Hits are temporary, negative, and countable. Some issuers may have strict criteria about how many recent ones they see.

Trade lines are also countable but having over a dozen of them doesn't seem to have mattered to anyone (yet) :D

Also the Visa is free, and I intend to keep it permanently so it will help my average age going forwards so that will mitigate the effect of adding the Amex and then cancelling it in a year ... although I have since decided I will likely convert this Amex to the free ScotiaRewards Visa to keep any points alive and also keep that trade line alive going forwards as well.

So I see these 2 trade lines as a permanent positive going forwards helping average age, say in 5 years I'll still have these two 5-yr old cards to help counter the lots of shorter-lived ones I get between now and then :)
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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Oct 22, 2014
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Richmond Hill
ace604 wrote: Hits are temporary, negative, and countable. Some issuers may have strict criteria about how many recent ones they see.

Trade lines are also countable but having over a dozen of them doesn't seem to have mattered to anyone (yet) :D

Also the Visa is free, and I intend to keep it permanently so it will help my average age going forwards so that will mitigate the effect of adding the Amex and then cancelling it in a year ... although I have since decided I will likely convert this Amex to the free ScotiaRewards Visa to keep any points alive and also keep that trade line alive going forwards as well.

So I see these 2 trade lines as a permanent positive going forwards helping average age, say in 5 years I'll still have these two 5-yr old cards to help counter the lots of shorter-lived ones I get between now and then :)
sounds like planting trees...

I don't know if you notice, some issuers do hard inquiry without your consent. I have noticed my most recently TD app. First online app had 1 hit, but it was on hold. Called in to approve and release it, the CSR insists I must start over and make a new app (which gives that CSR commission I guess) and requests for a hit - but I decline and hang up. I call again for another TD CSR, and they agree to help me to release the hold, DOES NOT SAY ANYTHING about hard hit - later I see a second hard hit from TD for this same card without my consent. What a scam.
Member
Feb 2, 2012
238 posts
154 upvotes
Burnaby
ace604 wrote: Might have something to do with two credit pulls last night too? :)

When I called in to get my 2nd (of two Scotia cards applied for in the same day) approved the guy mentioned he had to manually recheck my ratios. I pushed him and asked if that meant doing a credit hit. He said no, but that the new Scotia Gold Amex limit wasn't included in the calculation since I didn't have it yet (obviously) when they pulled the report for the app and that they use a certain % of your limit and add that to debt servicing cost to calculated your TDSR.

I forget if it was 3% or 1%. Doesn't matter if unused.

He said 'that's they way their bank does it, others may do it differently.'

So a $100k unused LOC might add $1-3k to your debt servicing per month and blow your ratios.

I posted about this in either this or the other Scotia Gold Amex thread.

I don't know if they do that for ALL revolving accounts or maybe just new ones? Not sure if LOCs or HELOCs get treated differently.

These two cards pushed me over 2x salary total credit limit so I'm guessing it was only 1% or not all existing revolving, otherwise 3%/month of 200% of salary x 12mo = 36% debt servicing alone right there without the numbers I had already given them for mortgage/housing costs which would push the number way over 50% and I'm guessing there threshold is more like mortgage approval around 42%?

Lots of guessing :)

I was ready to ask him to move some limit from the Amex to the Visa to approve it if it came to that since I requested a high limit on the Amex but just the min. $5k limit on the Scene Visa since I only got it for the $75 GC from GCR (and two free movies :))
Last night I had one equifax pull from Chase. Amex approved with soft pull as existing customer. Scotia pulled transunion so did not see any hard pulls for the last few months.

They explained to me by phone that they treat my HELOC the same way as a credit card, so a very high unused limit blows my ratios and therefore the application is denied.
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echino wrote: Last night I had one equifax pull from Chase. Amex approved with soft pull as existing customer. Scotia pulled transunion so did not see any hard pulls for the last few months.

They explained to me by phone that they treat my HELOC the same way as a credit card, so a very high unused limit blows my ratios and therefore the application is denied.
if someone is doing smith manuver, they wont be able to apply for credit cards. :rolleyes:
In the beginning the Universe was created. This has made a lot of people very angry and been widely regarded as a bad move. -- Douglas Adams
Member
Feb 2, 2012
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Burnaby
amitdi wrote: if someone is doing smith manuver, they wont be able to apply for credit cards. :rolleyes:
No Smith maneuver, HELOC is unused, it's there for emergencies. Scotia is the first who declined me for a credit card ever, even though they mailed me "pre-approved" credit card personalized ads. I am sure others do not use the limit on unused HELOC in debt service ratio calculations.
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amitdi wrote: if someone is doing smith manuver, they wont be able to apply for credit cards. :rolleyes:
Just Scotia or anyone one else who uses this criteria. It's not necessarily universal.

... and only if it blows your ratios :)
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)

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