Best Scotiabank Credit Cards
Scotiabank is a Canada-based international bank that provides full banking and financial services to Canadian and international customers through over 900 branches, as well as an online banking platform. Along with top Scotiabank savings and chequing accounts, business banking, and wealth management, Scotiabank offers one of the biggest ranges of credit cards in Canada. Scotiabank credit cards include many kinds of reward cards and cashback cards from all three major processors in Canada: MasterCard, Visa, and Amex. The application process for Scotiabank credit cards is unusual because you don’t need to have any minimum credit score to qualify for a credit card – instead, Scotiabank bases its decision on your overall financial history.
To make life easier for you, we’ve compiled a list of the best Scotiabank cards for different kinds of Canadian consumers. Check out our assessment below and discover the best Scotiabank credit card for your needs, lifestyle and spending habits.
Summary of the Best Scotiabank Credit Cards 2019
|Scotiabank Credit Card||Bonus||Earn Rate||Annual Fee||Apply for Card|
|Scotiabank Gold American Express review||Up to 30000||5/3 points $1 on select categories, 1 pt / $1 on the rest||$120||Apply Now|
|Scotia Momentum Visa Infinite review||4% on gas and groceries|
2% on drug store purchases and bills
1% unlimited spend
First year free
|Scotia Momentum Visa review||2% on selected categories, 1% on the rest||$39||Apply Now|
|Scotia Value Visa review||$29||Apply Now|
|Scotia Scene review||2500||5 pts / $1 on Cineplex Odeon cinemas, 1 pt / $1 on the rest||$0||Apply Now|
|Scotia No Fee Value Visa review||3.99% balance transfer rate|
|16.99% purchase interest rate||$0||Apply Now|
|Scotiabank GM Visa Infinite review||5% GM Earnings on first $10,000|
2% after that
|Scotiabank Momentum Mastercard review||7.99% purchase interest rate (6 months)||1% on selected categories|
0.5% on the rest
|Scotiabank Passport™ Visa Infinite* Card||35000||2 pts / $1 spent on selected categories|
1 pt / $1 on the rest
|ScotiaGold Passport Visa review||5000||1 pt / $1|
5% on travel purchases
|Scotiabank American Express Platinum review||30000||4 pts / $1 on selected categories, 1 pt / $1 on the rest||$399|
Best Scotiabank Travel Rewards Card
The Scotiabank Gold American Express is one of the most lucrative and flexible travel rewards cards in Canada. It generates a very high rate of 5 points for every $1 spent on, groceries, dining, and entertainment at eligible merchants—a very large number of eligible categories compared to competing cards. 3 points for every $1 you spend at eligible gas stations and daily transit. All other spending outside these categories generates 1 point per $1. There’s a welcome bonus of 15,000 points when you charge $1,000 to the card in your first 3 months, which is a very low hurdle to clear.
You can redeem your points flexibly, too. Just book your travel using your Scotiabank Gold American Express and then apply your points to cover any or all of the cost, with 1 point worth about $0.01.
You’ll also get excellent travel insurance worth about $1,000 per year, purchase protection, and extended warranty coverage. The Scotiabank Gold American Express has a standard interest rate of 19.99% and a $120 annual fee.
You can learn more about the card by reading our complete Scotiabank Gold American Express card review.
Best Scotiabank Cash Back Card
The Scotia Momentum Visa Infinite is our favourite Scotiabank credit card for cash back. On top of a base rate of 1% cash back on all transactions, you can earn accelerated rates of 4% on gas and grocery spending and 2% on recurring bills and pharmacy transactions. The accelerated earn rates of 2% and 4% are capped at $25,000 annual spend, but the flat cash back rate is unlimited. Plus, Scotiabank is currently waiving the $99 annual fee for your first year of card membership (offer valid until October 31, 2019).
The card’s value proposition is boosted further by an introductory bonus of 10.00% cash back during your first three months, or until you collect $200 at the bonus rate (amounting to $2,000 in spending). On top of the annual fee waiver, that’s $299 in value that one will enjoy in their first few months–not to mention their regular rate of cash back earnings. This is currently one of the best bonus deals in the Canadian market and can only be acquired by applying via our link before the cutoff date.
On top of the excellent cashback scheme, Scotiabank Momentum Visa Infinite offers a travel insurance package that matches that of its premium cards. The interest rate is a standard 19.99%. To qualify, you’ll need $60,000 personal income or $100,000 household income, and it’s best for applicants with a good to excellent credit score.
You can learn more about the card by reading our complete Scotia Momentum Visa Infinite card review.
Although cashback earn rates on the Scotia Momentum Visa are lower than the Scotia Momentum Visa Infinite, they are still a respectable 2% on purchases from eligible gas stations, grocery stores, drug stores and for recurring bill payments, with the same 1% base rate for other transactions. It’s an excellent cashback card for applicants who can’t qualify for the Momentum Visa Infinite, since you only need a personal income of $12,000.
Scotiabank Momentum Visa also has a lower annual fee of just $39 and an introductory balance transfer rate of 2.99% for the first 6 months. While it doesn’t have the same insurance package as some other Scotiabank cards, it does offer purchase protection and extended warranty.
Best Scotiabank Low-Interest Card
If you’re looking for a low-interest credit card, try the Scotiabank Value Visa Card. It combines a low purchase interest rate of 11.99% with a low annual fee of $29. Balance transfers in the first 6 months have a very low interest rate of just 0.99%, and a low post-promotional rate of 11.99%. Typical post-promotional interest rates on balance transfer cards are upwards of 20%.
The Scotiabank Value Visa Card is best for applicants with a fair to good credit score, and there’s a minimum income requirement of $12,000. Along with the low-interest rate, cardholders get up to a 20% discount on Avis car rentals.
You can learn more about the card by reading our complete Scotiabank Value Visa Card review.
Best Scotiabank Student Credit Card
You’re not required to be a student to qualify for the Scotia Scene Visa, but the low minimum personal income requirement of $12,000, combined with no credit history requirements, a $0 annual fee, and movie rewards scheme, is great for students. You can earn 5 points per $1 spent at Cineplex Odeon cinemas and 1 point per $1 on all other transactions.
You can redeem about a 1,000 SCENE points at a time for a single movie ticket. The Scotia Scene Visa also offers a welcome bonus of 2500 points—the equivalent of 2 free movie tickets—when you spend $500 with your card in the first 3 months of membership.
You can learn more about the card by reading our complete Scotiabank SCENE Visa card review.
Best Scotiabank No Annual Fee Card
Scotiabank offers more than one no-fee credit card, but our favourite is the No-Fee Scotiabank Value Visa card. Although it doesn’t come with any rewards or cash back, it is a solid and practical card for anyone who wants to build credit via a simple, unsecured credit card with comparatively low interest rates.
Its purchase interest rate of 16.99% is relatively low compared to cash back cards. What’s more, there’s a 6-month introductory balance transfer interest rate of 3.99%, which reverts to a relatively low post-promotional interest rate of 16.99% after the promo period ends. You’ll also get a 20% discount on car rentals through Avis and the convenience of NFC payments, which basically means that you can pay for small purchases without having to swipe your card.
Best Scotiabank Lifestyle Rewards Card
The Scotiabank GM Visa Infinite card is ideal for anyone saving to buy a new car, since you can use it to earn 5% GM Earnings (rewards) on your first $10,000 spent each year and 2% after that. $1 of GM earnings equals $1 off the sticker price for any GM car, bringing you a significant discount on your next vehicle.
The Scotiabank GM Visa Infinite also offers a 20% discount on Avis car rentals, a useful raft of travel insurance coverage, and standard extended warranty and purchase protection. The annual fee of $79 is waived for the first year, and regular interest rates stand at a standard 19.99%. You’ll need a fair to good credit score to make the most of this card and a minimum personal income of $60,000 to qualify.
You can learn more about the card by reading our complete Scotiabank GM Visa Infinite card review.
Best Scotiabank Mastercard
The Scotia Momentum MasterCard brings all of the benefits of handpicked MasterCard experiences and MasterCard customer support together with no annual fee, up to 1% cashback, and a regular interest rate of 19.99%. MasterCard is also the only type of credit card that you can use at Costco.
The Scotia Momentum MasterCard lets you earn 1% cash back on gas, grocery, and drugstore purchases as well as recurring bills, with a base 0.5% earn rate on other purchases. There’s also a 7.99% introductory balance transfer rate option for the first 6 months of card membership and a reassuring zero liability fraud guarantee.
You can learn more about the card by reading our complete Scotia Momentum Mastercard review.
Best Scotiabank No Foreign Transaction Fee Card
The Scotiabank Passport Visa Infinite Card is an all-around great credit card for frequent travellers. Its standout feature is its lack of foreign transaction fees, which puts it in very limited company in the Canadian credit card market. Aside from that, it accumulates Scotia Rewards points at a rate of 2 points per $1 spent on eligible grocery stores, dining, entertainment, and daily transit transactions. All other purchases earn 1 point per $1.
You can also earn 10,000 bonus points every year that you make more than $40,000 in purchases on your card, with an extra 2,000 points for every additional $10,000 per year charged to your account, on top of your regular points. Beyond that, it provides cardholders with 6 free visits to a Priority Pass airport lounge per year and extensive travel insurance coverage.
The annual fee is quite high at $139, but that’s more than covered by the welcome bonus of 25,000 points when you spend $1,000 in your first 3 months of membership. This is an approximate cash value of $250, as 1 Scotia Rewards point equals about $0.01. You’ll need $60,000 personal income to qualify, and regular purchase interest rates are 19.99%.
Best Scotiabank Premium Credit Card
The ScotiaGold Passport Visa card is a premium credit card with an impressive travel insurance package that covers travel medical, accident, and cancellation insurance as well as rental car collision coverage. You’ll get a hefty 5,000 bonus points – equal to $500 in rewards – when you make your first purchase with your Passport Visa, and can continue to earn 1 rewards point per $1 spent.
When you book travel through the Scotia full-service travel agency, you can earn a high cashback rate of 5% on your travel purchases, and there are no restrictions or blackout dates when you redeem your Scotia points for travel offers. The annual fee for the Passport Visa is $110 with interest rates at 19.99% for purchases. You’ll need a minimum personal income of $12,000 to qualify.
Best Scotiabank Ultra-Premium Credit Card
For real luxury, try the Scotiabank Platinum American Express card. You’ll earn 4 Scotia Reward points per $1 spent at eligible gas, grocery, dining, and entertainment merchants and a welcome bonus of 30,000 points on your first purchase made within 60 days of opening your account. That’s the equivalent of $300 in travel rewards, just for using your card once. All other transactions earn 1 point per $1.
As well as redeeming your points for travel rewards through the Scotia travel agency service without restrictions, you’ll also access exclusive Scotia benefits. These include concierge services, airport lounges, special event invites, and comprehensive travel insurance, extended warranty, and purchase protection. The card comes with an annual fee of $399 with purchase interest rates at the standard 19.99% and a minimum $10,000 credit limit.