Scotiabank is Canada’s third-largest bank and offers a good number of credit cards from the three main players – Visa, Mastercard, and American Express.
Whether you are looking for the best cash back credit cards, travel rewards cards, no-annual-fee cards, or business credit cards, you can find a Scotiabank credit card that suits your needs.
Read on to see what I have on my list of the best Scotiabank credit cards in Canada.
1. Scotiabank Gold American Express
The Scotiabank Gold Amex has earned its place among the best travel rewards cards in the country. It offers the following:
- 25,000 bonus Scotia Rewards points ($250 value) when you spend $1,000 in the first 3 months
- Earn 4 Scotia Rewards points on every $1 you spend on groceries, dining, and entertainment
- Earn 3 points for every $1 you spend on gas, daily transit and streaming services
- No foreign transaction fees (i.e. the 2.5% fee is waived on foreign currency purchases)
- Earn 1 point per $1 on all other purchases
- 35% discount on Priority Pass membership with VIP lounge access
- Enjoy comprehensive travel insurance with 7 different coverage’s including travel medical emergency, trip cancellation/trip interruption, flight delay, travel accident, rental car collision loss/damage, hotel/burglary, delayed and lost baggage insurance
- Purchase security and extended warranty
- Complimentary concierge services
- Get an additional 5,000 bonus Scotia Rewards points when you make at least $10,000 in eligible purchases in your first year
The Scotiabank Gold AMEX has a $120 annual price tag. Its bonus offer, 4% rewards rate on groceries, entertainment, and dining, and comprehensive travel insurance easily cover its cost.
If you prefer a travel rewards card with no annual fees, check out the Scotiabank American Express card.
2. Scotiabank Passport Visa Infinite
The Scotiabank Passport Visa Infinite has two main highlights: it is an excellent travel rewards card and one of only a few credit cards in Canada with no foreign transaction fees.
- Get 25,000 bonus Scotia Rewards points ($250 value) after spending $1,000 in the first three months
- No foreign transaction fees (2.5% savings)
- Earn 2 points on every $1 you spend on grocery, dining, transit, and entertainment purchases
- Earn 1 point per $1 spent on all other purchases
- Priority Pass membership and complimentary airport lounge access with 6 free visits per year
- Comprehensive travel insurance with coverage for travel emergency medical, trip cancellation/trip interruption, flight delay, travel accident, rental car collision loss/damage, hotel/motel burglary, delayed and lost baggage insurance
- Purchase security, price protection, and extended warranty
The Scotiabank Passport Visa infinite card offers up to $350 in bonus rewards – 25,000 points when you spend your first $1,000 and an additional 10,000 points if your annual spending is up to $40,000.
Add in the zero-FX markups, the approximately $262 benefit in Priority Pass membership/lounge access, plus the wide variety of insurance coverage, and this card stands out even with its $139 annual fee.
3. Scotia Momentum Visa Infinite Card
The Scotia Momentum Visa Infinite is one of the top cash back credit cards in Canada and is great for saving on grocery and gas purchases.
- Earn 4% cash back on your grocery purchases and recurring bill payments
- $0 annual fee in year one (waived) and $120 in subsequent years
- Earn 2% cash back on gas and daily transit purchases
- Earn 1% cash back on all other purchases
- Comprehensive travel insurance consisting of travel emergency medical, trip interruption, flight delay, rental car collision loss/damage, travel accident, delayed and lost baggage insurance
- Mobile device insurance (smartphones and tablets) for up to $1,000
- Up to 25% discount at participating AVIS and Budget locations in Canada and the U.S.
- Purchase security and extended warranty
- Visa Infinite concierge service
The first year fee waiver on the Scotia Momentum Visa Infinite card is worth $120. Add in the base 2-4% rewards earning rate, and you have yourself a winner!
I like that this card offers ‘real’ cash back that you can spend as you wish. For no-fee cash back card options, you can check out the Scotia Momentum No-Fee Visa (0.50 – 1% cash back) or Tangerine Money-Back Credit Card (up to 2%).
4. Scotiabank SCENE Visa Card
The SCENE Visa card is one of the best credit cards for individuals or students who are just starting to build a credit score. It is also a great card if you want to earn points for free movie tickets at Cineplex theatres.
- Earn 2,500 bonus SCENE points (2 free movies) when you spend $500 in the first 3 months
- Earn 1 SCENE point per $1 spent
- Earn 5 SCENE points per $1 spent at Cineplex
- Get up to 25% discount at AVIS and Budget locations in Canada and the U.S.
- $0 annual fee
The Scotia SCENE Visa card is a decent startup card when you want to build a credit score as you do not need a credit history to qualify for it. Redeem your rewards points at 1,250 points for a general admission ticket or get $10 off per 1,000 points at participating restaurants.
5. Scotiabank GM Visa Card
If you already own a GM car or plan to own one, the Scotiabank GM Visa‘s rewards offers are noteworthy at up to 5%.
- $0 annual fee
- Earn 5% in GM Earnings on your first $5,000 annual spending
- Earn 2% in rewards on all purchases after $5,000 with no caps
- Purchase protection and extended warranty
- 20% discount on car rentals at AVIS/Budget locations in Canada and the U.S.
This card is not your run-of-the-mill credit card. if you are looking to buy or replace your Chevrolet, Buick, GMC, or Cadillac vehicle, it is easier to achieve with $1 in GM Earnings (points) being equivalent to $1 off the purchase price or lease of a new GM vehicle.
Scotiabank also has a premium version of this card, Scotiabank GM Visa Infinite Card, that has a $79 annual fee (waived in year 1) and comes with comprehensive travel insurance and 5% earnings on up to $10,000.
6. Scotiabank Value Visa
This card is Scotiabank’s low-interest card that works well for consolidating credit card debt at a lower rate.
- 0.99% interest rate on cash advances and balance transfers (first 6 months) and 12.99% after
- $29 annual fee
Compared to the going rate of up to 29.99% on cash advances and 19.99% on your credit card balance, the promotional 0.99% offered by the Scotiabank Value Visa for 6 months can save you a lot in interest fees.
To make the most use of the card, plan to pay off your balance within the 6 months promo period.
Scotiabank also has a no-fee option of this card, the No-Fee Scotiabank Value Visa card which offers a 3.99% promotional rate on balance transfers for 6 months.
7. Scotia Momentum Mastercard
The Scotia Momentum Mastercard is a no-annual-fee card that offers a 7.99% promotional rate for 6 months and gives you access to more merchants worldwide who accept Mastercard, including Costco.
This card also offers:
- 1% cash back on gas, grocery and pharmacy purchases, plus on recurring bill payments
- 0.50% cash back on all other purchases
- $0 annual fee
It is worth noting that the Scotia Momentum Mastercard has no insurance coverage. In addition, its cash back offers are not the best in the no-fee category. Better options include:
- Tangerine Money-Back Credit Card ($0 annual fee)
- Triangle World Elite Mastercard ($0 annual fee)
- MBNA Rewards Platinum Plus Mastercard ($0 annual fee)