Scotiabank Platinum American Express Card Review (Feb 2023)

January 14, 2023
Reviews
scotiabank

The Scotiabank Platinum American Express Card is a premium travel credit card that comes with comprehensive travel and medical insurance and one of the most generous welcome bonuses; you can earn up to 70,000 Scene+ points within your first year plus 2 Scene+ points on all eligible purchases.

The Scotiabank Platinum American Express Card has an annual fee of $399 and includes American Express exclusive benefits like 10 complimentary airport lounge passes every year, and access to premium concierge services and American Express Invites. Frequent travelers can also take advantage of its 0% foreign exchange fees.

What Is The Scotiabank Platinum American Express Card?

The Scotiabank Platinum American Express Card is a premium travel credit card issued by Scotiabank, one the largest banks in Canada. With this credit card, you will earn 2 Scene+ points per $1 spent on eligible purchases and up to 70,000 Scene+ points in the first 12 months. The Scotiabank Platinum American Express Card has an annual fee of $399, and it doesn't charge foreign exchange fees when purchasing abroad or online.

The Scotiabank Platinum American Express Card comes with exclusive American Express benefits like 10 complimentary airport lounge passes every year, premium concierge services, and American Express Invites. Additionally, it offers comprehensive travel and medical insurance in Canada and abroad.

Scotiabank Platinum American Express Card Features

#1 Earn Up To 70,000 Scene+ Welcome Bonus Points

The Scotiabank Platinum American Express Card comes with a very generous welcome bonus – of up to 70,000 Scene+ points – that you can earn in your first 12 months as a cardholder. Here's the breakdown:

  • 50,000 Scene+ bonus points if you spend $3,000 on daily qualifying purchases in the first three months of card membership
  • 20,000 Scene+ bonus points if you spend $10,000 on everyday qualifying purchases in the first 14 months of card membership

#2 Earn 2x The Scene+ Points From Eligible Purchases

The Scotiabank Platinum American Express Card offers 2x the points you'd earn with any other Scotiabank credit card. You will earn 2 Scene+ points for every $1 spent on eligible purchases.

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#3 No Foreign Transaction Fees

The Scotiabank Platinum American Express Card doesn't charge foreign transaction fees when making purchases abroad or when making online purchases. Just by using this card, you will save 2.5% on foreign transaction fees.

#4 Earn And Redeem Various Rewards Options Using Your Scene+ Points

The Scene+ rewards program of Scotiabank allows Scotiabank Platinum American Express Card holders the option to redeem points for travel-related purchases. You can earn 3 Scene+ points from spending on hotels and car rental bookings. You can also redeem your points for gift cards, entertainment, dining, and more. 

#5 Access To Exclusive American Express Benefits 

The Scotiabank Platinum American Express Card works as a pass to access exclusive American Express benefits. Some of these benefits include access to the American Express Invites program, which comes with special offers and access to exclusive tickets for dining, theatre, fashion, film, shopping, and music events.  

#6 Comprehensive Medical And Travel Insurance

Scotiabank Platinum American Express Cardholders are entitled to comprehensive travel and purchase insurance coverage. Terms and conditions apply. Here are the coverages you can get:

  • Travel Emergency Medical Insurance offers up to $2,000,000 in emergency medical coverage. The coverage period is based on the age of the dependent.
  • Rental Car Collision Loss/Damage Insurance automatically covers your rented vehicle if it is damaged or stolen
  • Purchase Security & Extended Warranty Protection covers eligible purchases 90 days from the purchase date and doubles the manufacturer’s warranty for another year
  • Flight Delay Insurance offers a limit of $1,000 coverage per insured individual if the delay lasts for four hours or more
  • Trip Cancellation / Trip Interruption Insurance provides $2,500 (maximum of $10,000 for each trip) per individual for trip cancellation and $5,000 per individual (maximum of $25,000 for each trip) for trip interruption
  • Delayed and Lost Baggage Insurance offers $1,000 for lost or stolen covered luggage and $1,000 for insured individuals if the baggage is delayed
  • New Mobile Device Insurance offers up to $1,000 coverage if the eligible device is stolen, lost, experienced mechanical failure, or accidentally damaged
  • Hotel/Motel Burglary Insurance would offer a $1,000 reimbursement if someone broke into your room
  • Travel Accident Insurance provides $500,000 coverage (up to $1,000,000 per occurrence) for accidental loss of life or dismemberment

#7 10 Complimentary Airport Lounge Passes

Frequent flyers or travelers get ten annual complimentary airport lounge access with American Express Priority Pass. By presenting your Scotiabank Platinum American Express Card, you can access more than 1,200 VIP lounges worldwide, including the Plaza Premium Lounges. You will be charged $32 per lounge visit if you have already used your 10 annual lounge passes. 

Scotiabank Platinum American Express Card Pros And Cons

Pros 

  • No foreign transaction fees
  • High welcome bonus (up to 70,000 Scene+ bonus points)
  • Double the points in every eligible purchase
  • Get ten annual complimentary airport lounge access
  • Comprehensive travel and purchase insurance coverage
  • Access American Express Exclusive benefits

Cons

  • High annual fee worth $399 each year
  • American Express credit cards are not widely accepted

Pricing

Scotiabank Platinum American Express Card has a high annual fee but a lower interest rate than other travel credit cards. Before you get this credit card, you should consider the fees typically paid for transactions. Some of these are the following:

FeesCost/Rate
Primary Card$399/year
Supplementary Card$99/each per year
Interest Rate9.99% on purchases
9.99% on balance transfers, Scotia Credit Card Cheques, and cash-like transactions
Minimum Credit Limit$10,000
Dishonoured Payment$48
Non-sufficient Funds $48
Overlimit $29
Balance Transfer $5
Cash Advance counter fee (any financial institutions in Canada)$5
Cash Advance counter fee (any financial institutions outside Canada)$7
Cash Advance fee (including cash-like transactions)$5

In Summary

The Scotiabank Platinum American Express Card is a premium travel credit card that comes with comprehensive travel and medical insurance and one of the most generous welcome bonuses; you can earn up to 70,000 Scene+ points within your first year plus 2 Scene+ points on all eligible purchases.

The Scotiabank Platinum American Express Card has an annual fee of $399 and includes American Express exclusive benefits like 10 complimentary airport lounge passes every year, and access to premium concierge services and American Express Invites. Frequent travelers can also take advantage of its 0% foreign exchange fees.

Scotiabank Platinum American Express Card FAQs

How much does the Scotiabank Platinum American Express Card cost?

The Scotiabank Platinum American Express Card has an annual fee of $399. Other fees include $99 annually for supplementary cards, an over-limit fee of $29, and a dishonoured payment fee of $48.

Is the Scotiabank Platinum American Express Card worth it?

Yes, the Scotiabank Platinum American Express Card is worth it because it comes with many insurance coverages and a high welcome bonus. It is also determined as a premium credit card that offers various outstanding benefits. 

Is the Scotiabank Platinum American Express Card safe?

Yes, the Scotiabank Platinum American Express Card is safe. Scotiabank and American Express guarantee secured transactions of the credit cards and their systems. 

Is the Scotiabank Platinum American Express Card legit?

Yes, the Scotiabank Platinum American Express Card is legit. Many Canadians have used it, and it is issued by Scotiabank, a reliable and one of the big banks in Canada. 

What credit score do you need for an Amex Platinum credit card in Canada?

The minimum credit score to apply for an Amex Platinum credit card is around 750; the higher the score, the more likely your application will be approved. 

Is American Express Platinum Card a luxury credit card?

Yes, the American Express Platinum Cards offer various luxurious rewards. It is an excellent partner for travelers seeking exclusive access to some benefit programs. 

Is the Amex Platinum worth it in Canada?

Yes, the Amex Platinum Cards are worth it in Canada. It is recognized as one of the outstanding travel credit cards in the country. 

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