Scotiabank is one of the top five banks in Canada. So, it’s no wonder many Canadians not only trust Scotiabank with their savings but also with their spending. They offer a wide selection of credit cards that feature rewards, cash back, low balance transfers, and a full suite of insurance coverages, as well as a variety of complimentary services.
For your benefit, we’ve compiled a list of the top six Scotiabank credit cards in Canada.
See below for details.
The Scotiabank® GM®* VISA* Infinite Card offers GM, GMC, Chevrolet, Buick, and Cadillac fans the chance to earn money off the purchase price or lease down payment of their next vehicle. Although this card is exclusive to these five brands, it earns money quickly at a rate of 5% on everything you buy up to the first $10,000 annually. Plus, there are no earning caps or redemption limits. It also offers a full suite of travel insurance options.
According to our Best of Finance methodology, the average Canadian will see a whopping $1289.00 in GM Earnings in the first two years.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for at least six years. You've had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven't opened a new credit card account, loan, or line of credit in the last nine months. You've made the minimum payments on my existing credit cards for the past three months.
Annual fee:
$79
Each additional supplementary card has a $39 annual fee.
Limited time offer/bonus:
Sign-Up Bonus Expiry Date: March 1, 2020
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 24-month period.
Rewards earned over a 24-month period = $1368.00 GM Earnings
Annual fee (x2 for 24-month period) = $79
Total earned over a 24-month period (rewards minus annual fee) = $1,289.00
*Annual fee is waived for the first year.
You can redeem your points for:
Insurance:
Other perks:
The Scotiabank®* Gold American Express® Card is great for travellers looking to use their rewards to book their next vacation or make purchases abroad. This card is one of the few to offer no foreign transaction fees. So, you won’t get dinged for making purchases on your trip (the foreign exchange rate still applies). Earn five times the rewards at the grocery store, when you dine out or make entertainment purchases. Collect three times the rewards at the gas station, on public transit, rideshare, or streaming services. Make one point per dollar on everything else.
Based on our Best of Finance methodology, the average Canadian can earn $1,141.59 in Scotia Rewards points within the first two years of card membership.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for at least six years. You've had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven't opened a new credit card account, loan, or line of credit in the last nine months. You've made the minimum payments on my existing credit cards for the past three months.
Annual fee:
$120
Each supplementary card has a $29 annual fee.
Limited time offer/bonus:
Sign-Up Bonus Expiry Date: March 1, 2020
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 24-month period.
Rewards earned over a 24-month period = 138,158.72
Monetary value = $1,381.59
Annual fee (x2 for 24-month period) = $240.00
Total earned over a 24-month period (rewards minus annual fee) = $1,141.59
You can redeem your points for:
Insurance:
Other perks:
Apply for the Scotia Momentum® Visa Infinite* Card earn 10% cash back on all buys for the first three months, up to $2,000 in total purchases. After you reach the spend cap, earn 4% back on groceries, recurring bill payments, and subscription purchases. Collect 2% back on gas and daily transit, including buses, taxis, and rideshare services. Make 1% back on everything else. You could have an extra $849.86 in your wallet within 24 months, according to our Best of Finance methodology.
Credit score requirement for approval:
Excellent: You've had a credit card or loan for at least 10 years. You've had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven't opened a new credit card account, loan, or line of credit in the last nine months. You've made the minimum payments on your existing credit cards for the past six months.
Annual fee:
$120
Each supplementary card has a $50 annual fee.
Limited time offer/bonus:
Sign-Up Bonus Expiry Date: April 30, 2020
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 24-month period.
Rewards earned over a 24-month period = $969.86
Annual fee (x2 for 24-month period) = $120.00
Total earned over a 24-month period (rewards minus annual fee) = $849.86
*The annual fee is waived for the first year. Assumes the cardholder spends $20 a month on subscription purchases.
You can redeem your points for:
Insurance:
Other perks:
Apply for the Scotiabank PassportTM Visa Infinite* Card and receive 25,000 bonus Scotia Rewards points when you make your first $1,000 in purchases within the first three months. Earn two points per dollar on grocery, dining, entertainment, and daily transit purchases. Collect one point per dollar on everything else. Cardholders can also access an array of Visa Infinite exclusive offers and collections, as well as a full suite of travel services. Not only that, this card offers no foreign transaction fees and several complimentary memberships to help make travel more convenient and comfortable.
According to our Best of Finance methodology, the average Canadian could see a return of over $556.82 within the first two years of card membership.
Credit score requirement for approval:
Excellent: You've had a credit card or loan for at least 10 years. You've had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven't opened a new credit card account, loan, or line of credit in the last nine months. You've made the minimum payments on your existing credit cards for the past six months.
Annual fee:
$139
One free supplementary card. Each additional supplementary card has a fee of $50 per year.
Limited time offer/bonus:
Sign-Up Bonus Expiry Date: March 1, 2020
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 24-month period.
Rewards earned over a 24-month period = 83,482 Scotia Rewards points
Monetary value = $834.82
Annual fee (x2 for 24-month period) = $278.00
Total earned over a 24-month period (rewards minus annual fee) = $556.82
*Assuming $20 a month is spent on entertainment.
You can redeem your points for:
Insurance:
Other perks:
The SCENE®* VISA* Card rewards devoted moviegoers with free movies and merchandise when they make everyday purchases. Earn five SCENE points per dollar spent at Cineplex theatres and cineplex.com. Make one SCENE point everywhere else you shop.
Including the welcome bonus and according to our Best of Finance methodology, the average Canadian can save $505.00 in SCENE points over the first two years. That is roughly 40 general admission tickets!
Credit score requirement for approval:
Good: You’ve had a credit card or loan for at least six years. You've had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven't opened a new credit card account, loan, or line of credit in the last nine months. You've made the minimum payments on my existing credit cards for the past three months.
Annual fee:
$0
Limited time offer/bonus:
Sign-Up Bonus Expiry Date: March 1, 2020
Rewards:
*A maximum of 300 points can be earned per transaction, up to a daily maximum of 600 points. When redeeming SCENE points at the theatre, additional SCENE points are earned, up to a maximum of one adult ticket and two child tickets per transaction and two transactions per day.
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 24-month period.
Rewards earned over a 24-month period = 50,500 SCENE points
Monetary value: $505.00
Annual fee (x2 for 24-month period) = $0
Total earned over a 24-month period (rewards minus annual fee) = $505.00
*Assuming you spend $100 a month at Cineplex or Cineplex.com each month.
You can redeem your points for:
Insurance:
Other perks:
*This card is no longer available. Compare credit cards using the RATESDOTCA credit card marketplace to find your match.
For a limited time, the No-Fee Scotiabank Value® VISA* Card offers cardmembers a 3.99% introductory interest rate on balance transfers made within the first six months. When the promotion expires, cardholders access a preferred interest rate of 16.99% on purchases, cash advances, balance transfers, and Scotia Credit Card Cheques. If used in combination, the introductory interest rate on balance transfers and the low preferred interest rate can be useful to those looking to consolidate their balances from higher interest rate credit cards.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for at least six years. You've had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven't opened a new credit card account, loan, or line of credit in the last nine months. You've made the minimum payments on my existing credit cards for the past three months.
Annual fee:
$0
Limited time offer/bonus:
Sign-Up Bonus Expiry Date: March 1, 2020
Rewards:
Although there are no rewards points or cash back features on this card, it has a great introductory balance transfer interest rate, as well as a low-interest rate on purchases, cash advances, and Scotia Credit Card Cheques.
Insurance:
Other perks: