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Scotiabank More Rewards Visa

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  • Jan 10th, 2019 1:13 pm
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May 9, 2018
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Scotiabank More Rewards Visa

I was looking closer at the Scotiabank More Rewards Visa. It looks like each point is worth 0.42 cents when redeemed for travel on their site. At 4x the points for all purchases, that's a 1.68% return. Use at More Rewards partners for 6x the points and a 2.52% return.

For a no annual fee card that seems really good. Anyone have any experience with this card or the More Rewards program in general?
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jonmac547 wrote:
Jan 7th, 2019 1:15 pm
I was looking closer at the Scotiabank More Rewards Visa. It looks like each point is worth 0.42 cents when redeemed for travel on their site. At 4x the points for all purchases, that's a 1.68% return. Use at More Rewards partners for 6x the points and a 2.52% return.

For a no annual fee card that seems really good. Anyone have any experience with this card or the More Rewards program in general?
I have been using the program for years and cashed in on hotel stays and flights if their travel agency does not charge more then booking direct. It is a great secondary program. I do not use their card because I earn Amex Cobalt points at a much higher multiplier and are more versatile (e.g. I can transfer via SPG/Marriott to many different airlines). I don't mind paying the monthly fee for the card because of the value you get. YMMV however.
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jonmac547 wrote:
Jan 7th, 2019 1:15 pm
Use at More Rewards partners for 6x the points and a 2.52% return.
It seems most of these partners are Vancouver or BC specific. I find it strange that Scotia runs two separate travel reward programs (the other one is similarly called Scotia Rewards!)

I feel Scotia Rewards is a better value, especially for non-West coasters. You can also obtain SR points from more sources - Scotia Passport VISA, Scotia Gold Amex, and ScotiaONE back account. And you can redeem the points outside of the portal if you want at 1:1 ratio.
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[OP]
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May 9, 2018
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quanta wrote:
Jan 8th, 2019 10:30 pm
It seems most of these partners are Vancouver or BC specific. I find it strange that Scotia runs two separate travel reward programs (the other one is similarly called Scotia Rewards!)

I feel Scotia Rewards is a better value, especially for non-West coasters. You can also obtain SR points from more sources - Scotia Passport VISA, Scotia Gold Amex, and ScotiaONE back account. And you can redeem the points outside of the portal if you want at 1:1 ratio.
If I did get the card, aside from Petro Can it would be my only way to get points. The base earn rate on the card looks great. I have the TD Cash back Visa Infinite to earn 3% on gas, grocery & bills, plus I don't pay the annual fee as I have the bank account. I think it would be a good card for some extra earnings and bank some free travel rewards.
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jonmac547 wrote:
Jan 9th, 2019 7:51 am
If I did get the card, aside from Petro Can it would be my only way to get points.
How about getting the Rogers World Elite instead? You get 1.75% cashback on everything. You don't have to be a Rogers Wireless/TV/etc. customer. They just recently announced they will set up a system for cardholders to redeem the cash monthly. So instead of having to accumulate points to redeem on a portal, you can get straight cash. If the income requirement is too high, there's the Rogers Platinum with 1.5% cashback.
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quanta wrote:
Jan 9th, 2019 8:27 am
How about getting the Rogers World Elite instead? You get 1.75% cashback on everything. You don't have to be a Rogers Wireless/TV/etc. customer. They just recently announced they will set up a system for cardholders to redeem the cash monthly. So instead of having to accumulate points to redeem on a portal, you can get straight cash. If the income requirement is too high, there's the Rogers Platinum with 1.5% cashback.
Rogers Platinum is 1.25%
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The big benefit of the More Rewards program is not the value of the points you collect, but the member-only instant discounts you get at the partner grocery stores. Sometimes these are super deals. The points are a nice bonus, and you can link More Rewards to Petro Points, so Petro-Canada fillups get you points in both programs. That said, I wouldn't get the More Rewards credit card. I have a Visa that earns me 4% at all grocery stores, so better value even after paying the $99 annual fee. And More Rewards partner stores tend to have higher prices than other stores anyway, which eats in to your savings all the more.
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quanta wrote:
Jan 8th, 2019 10:30 pm
It seems most of these partners are Vancouver or BC specific. I find it strange that Scotia runs two separate travel reward programs (the other one is similarly called Scotia Rewards!)

I feel Scotia Rewards is a better value, especially for non-West coasters. You can also obtain SR points from more sources - Scotia Passport VISA, Scotia Gold Amex, and ScotiaONE back account. And you can redeem the points outside of the portal if you want at 1:1 ratio.
Scotia doesn't "run two separate travel rewards programs". More Rewards is a program of the Save-On-Foods group - Scotia simply offers a co-branded credit-card that earns points in the More Rewards program - Scotia has nothing to do with the operation of More Rewards.
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robsaw wrote:
Jan 9th, 2019 12:14 pm
Scotia doesn't "run two separate travel rewards programs". More Rewards is a program of the Save-On-Foods group - Scotia simply offers a co-branded credit-card that earns points in the More Rewards program - Scotia has nothing to do with the operation of More Rewards.
Hey I don't necessarily disagree with you as the fine print says "The More Rewards customer loyalty program (the 'More Rewards Program') is administered by the Overwaitea Food Group Limited Partnership ('OFG')" and "he Bank of Nova Scotia (Scotiabank) is not responsible or liable for the More Rewards Program or the use of the More Rewards loyalty card."

But the fact of the matter is, the cards say Scotiabank on them. You apply for them on the Scotiabank website. I suppose we can debate as to what is the definition of "running", but it sure looks like Scotia at least has a hand in part of it.
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quanta wrote:
Jan 9th, 2019 4:42 pm
Hey I don't necessarily disagree with you as the fine print says "The More Rewards customer loyalty program (the 'More Rewards Program') is administered by the Overwaitea Food Group Limited Partnership ('OFG')" and "he Bank of Nova Scotia (Scotiabank) is not responsible or liable for the More Rewards Program or the use of the More Rewards loyalty card."

But the fact of the matter is, the cards say Scotiabank on them. You apply for them on the Scotiabank website. I suppose we can debate as to what is the definition of "running", but it sure looks like Scotia at least has a hand in part of it.
In comparison, BMO has Air Miles credit cards, but they don’t run the loyalty system behind it.
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quanta wrote:
Jan 9th, 2019 4:42 pm
Hey I don't necessarily disagree with you as the fine print says "The More Rewards customer loyalty program (the 'More Rewards Program') is administered by the Overwaitea Food Group Limited Partnership ('OFG')" and "he Bank of Nova Scotia (Scotiabank) is not responsible or liable for the More Rewards Program or the use of the More Rewards loyalty card."

But the fact of the matter is, the cards say Scotiabank on them. You apply for them on the Scotiabank website. I suppose we can debate as to what is the definition of "running", but it sure looks like Scotia at least has a hand in part of it.
No debate - I'm right - there are numerous similar examples of co-branded loyalty programs and credit/charge cards:
AMEX with Aeroplan, SPG(Marriott), and AIR MILES
SCOTIA with MORE REWARDS, GM (SCENE is an exception as it IS co-managed by Scotia and CINEPLEX)
BMO with AIR MILES
CIBC with AEROPLAN
RBC with Westjet, BA, Cathay
etc, etc

NONE of these financial institutions operate, manage or control those co-programs - they are earning "partners" at best - no different than earning Air Miles at Safeway/Sobeys. You don't call-up Scotia to complain about a redemption problem with MORE Rewards. You do call-up AMEX to complain about a redemption with MR. There is a functional distinction.

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