Scotiabank American Express Platinum Card Review

A step up from its no-annual-fee counterpart, the Scotiabank American Express Platinum Card brings a multitude of travel perks and insurance benefits, along with the opportunity to earn 2x the Scene+ points on almost every purchase.

This Scotiabank American Express Platinum Card review covers the benefits, how to apply, an overview of the Scene+ rewards program, a few downsides, and alternative travel rewards cards.

Scotiabank American Express Platinum Card At a Glance

• $399 annual fee
• Up to 60,000 bonus points ($600 value)
• 9.99% interest rate on purchases and cash advances
• Minimum credit limit of $10,000
• 0% foreign currency conversion fee
• Earn 2 Scene+ points for every $1 spent on all eligible purchases with no limit
• Book and redeem travel rewards with Scene+ Travel
• Get access to airport lounges, concierge services, and more
• Comprehensive travel insurance coverage

Scotiabank Platinum American Express Card Benefits

New cardholders can earn 50,000 bonus Scene+ points when they spend at least $3,000 within the first 3 months of opening an account.

An additional 10,000 points are awarded if you spend at least $10,000 in everyday eligible purchases in your first 14 months, for a total of 60,000 points in the first year (valued at up to $600).

Some other Scotiabank American Express benefits include the following.

Earn and Redeem Scene+ Points

On every eligible purchase, earn 2 Scene+ points for every $1 spent, with no spending limit.

Your Scene+ points can be redeemed on travel bookings, shopping and gift cards, select restaurants, Cineplex, the Rec Room, and Playdium. You can also redeem your points to receive a statement credit on your card.

Scene+ Travel Program

Through Scene+ Travel, earn 3 Scene+ points for every $1 spent on hotel and car rental bookings using your Platinum card.

Easily redeem your Scene+ points, either fully or partially, on car rentals, hotels, and flights.

You can make travel arrangements with any operator or site, then use the “Apply Points to Travel” option to use your points and cover your travel costs within a year of the travel purchase. 

Travel Insurance Coverage

With the Scotiabank Platinum American Express Card, you get 7 types of travel insurance plus mobile device insurance.

Travel Emergency Medical Insurance – get up to $2 million in emergency medical coverage in the event of an unexpected illness or accidental injury while travelling outside your province/territory or outside Canada. Those under 65 get coverage for up to 31 days, while those over 65 get coverage for up to 10 days.

Trip Cancellation/Trip Interruption Insurance –when you charge at least 75% of your trip costs to your card, get up to $2,500 of coverage per person for travel expenses if your trip gets cancelled and up to $5,000 per person for travel expenses if your trip is interrupted.

Flight Delay Insurance – when you charge at least 75% of your flight cost to your card, get up to $1,000 in coverage for expenses like hotel accommodations and meals if your flight is delayed.

Rental Car Collision Loss/Damage Insurance – when you rent a car and charge the full cost to your card, get automatic coverage if the vehicle is stolen or damaged.

Delayed and Lost Baggage Insurance – when you charge the full ticket cost to your card, get up to $1,000 in coverage if your baggage is delayed or lost.

Travel Accident Insurance – when you charge at least 75% of your ticket cost to your card, get up to $500,000 of coverage in the event of accidental loss of life or dismemberment while on a common carrier.

Hotel/Motel Burglary Insurance – when you stay at any hotel or motel in Canada or the US, get up to $1,000 in coverage against theft of personal items if your room is broken into.

Mobile Device Insurance – charge the full purchase or all wireless bill payments of a new cell phone, smartphone, or tablet to your card and get up to $500 in coverage if your mobile device is stolen, lost, accidentally damaged, or experiences mechanical failure.

Other Rewards

The Scotiabank Platinum American Express Card offers access to premium 24/7 concierge services, complimentary airport lounge access with Priority Pass, and special offers and experiences with American Express.

No FX fees mean you can avoid the 2.5% foreign transaction fee that applies each time you spend money abroad.

Scotiabank offers cardholders optional Scotia Credit Card Protection to help them, or their families pay off the credit card if an unexpected life event occurs.

You also get Purchase Security & Extended Warranty Protection, so most items purchased with your card are insured against damage, loss, or theft for 90 days.

Downsides of the Scotiabank Platinum American Express Card

A downside of the Scotiabank Platinum American Express Card is that you’ll only earn 2 Scene+ points for everyday purchases. There is no longer an accelerated earn rate; before, you could earn 4 Scene+ points for every $1 spent in eligible categories.

This American Express travel credit card also has a high annual fee of $399, with each additional card costing $99 per year.

How To Apply for the Scotiabank American Express Platinum Card

If you’re a new customer, you can apply here.

Those new to Canada within the past three years must visit a branch to apply.

To be eligible, you must:

• Be a Canadian citizen or permanent resident
• Have reached the age of majority in your province or territory
• Have a minimum annual personal income of $12,000
• Have not declared bankruptcy within the last 7 years

What is the Scene+ Rewards Program?

With Scene+, members can earn and redeem Scene+ points on dining, movies, entertainment, travel, shopping, and banking.

You can earn 2 Scene+ points for every $1 charged to your Scotiabank American Express Platinum Card and redeem points for things like movie tickets, hotel bookings, gift cards, products at Apple and Best Buy online stores, and a percentage off your meals at select restaurants.

How To Redeem Your Scene+ Points

Redeem your Scene+ points by logging into your account at sceneplus.ca. Go to Your Rewards and select Redeem Now. Then, select how you want to use your points.

You can also redeem your Scene+ points, either fully or partially, on car rentals, hotels, and flights. Just select the “Apply Points to Travel” option to use your points and cover your travel costs within 12 months of the travel purchase.

Alternatives to the Scotiabank American Express Platinum Card

To compare, below are a few alternate travel credit cards in Canada.

Scotiabank American Express Platinum Card vs Scotiabank Gold American Express Card

The Scotiabank Gold American Express credit card has an annual fee of $120, with an interest rate of 19.99% on purchases and 22.99% on cash advances.

You earn:

• 5x Scene+ points for every $1 spent on eligible dining, grocery, and entertainment purchases
• 3x Scene+ points for every $1 spent on eligible transit, gas, and streaming subscription services
• 1x Scene+ point on all other purchases

You also pay 2.5% less on all foreign transaction fees.

Scotiabank American Express Platinum Card vs Scotiabank Passport Visa Infinite Card

This travel credit card has an annual fee of $150 and a minimum credit limit of $5,000. It has an interest rate of 19.99% on purchases and 22.99% on cash advances.

You’ll earn 2 Scene+ points for every $1 spent on dining, entertainment, grocery, and transit purchases, and 1 Scene+ point on everything else.

Scotiabank American Express Platinum Card vs American Express Cobalt Card

With a low monthly fee of $12.99 and no cost for additional cards, the American Express Cobalt Card has an interest rate of 20.99% on purchases and 21.99% on cash advances.

You earn AMEX points instead of Scene+ points. For every $1 spent, you’ll get:

• 5 points at eligible restaurants, cafes, bars, and food delivery in Canada
• 3 points on eligible streaming subscriptions in Canada
• 2 points on eligible travel, transit, and gas purchases in Canada
• 1 point on everything else

You can redeem your points towards card purchases, flight tickets, Amazon purchases, gift cards, and merchandise.

This card also comes with extensive travel insurance benefits.

Scotiabank American Express Platinum Card vs Scotiabank American Express Card

The Scotiabank American Express card is one of the best American Express credit cards with no annual fee. It has an interest rate of 19.99% on purchases and 22.99% on cash advances.

It doesn’t offer many of the same travel insurance benefits, but you can access Scene+ Travel with this card and earn 1 or 2 Scene+ points for every $1 spent on eligible purchases.

Is the Scotiabank American Express Platinum Card For You?

So, is the AMEX Platinum a good card for you? The Scotiabank American Express Platinum Card is one of the best travel rewards credit cards.

For a $399 annual fee, you get many travel insurance benefits and the ability to earn 2x the Scene+ points on almost every purchase. If you can afford the annual fee, it is a step up from the regular Scotiabank American Express Card.

However, if you’d prefer to earn more Scene+ points, you may want to look into a card like the Scotiabank Gold American Express Card, which allows you to earn as much as 5 Scene+ points on every dollar spent.

All in all, if you spend a lot and like to travel, this card might be the one for you.