In the sphere of credit cards, searching for an ideal credit card that would incorporate all the necessary perks, freedoms and rewards is challenging to say at least. Introducing the Scotiabank Gold American Express Card; a card that will entail more values to your financial life while giving you a list of organizational bonuses that addresses the needs of the day.
Whether the setting you find yourself in is a restaurant, supermarket or booking your next holiday this card guarantees you that you will be earning valuable points. Now let’s take a closer look at the features which make this card rather appealing to the smart shoppers.
Main features of the Scotiabank Gold American Express card
The Scotiabank Gold American Express Card is one of the flags, from Scotiabank an internationally recognized financial institution from Canada. This card is suitable for anyone in need of a secure and financially productive means of payment for regular and frequent expenses. This card offers great value for people who appreciate dining, entertainment, and travel as that is how Scotiabank has marketed the card.
Major advantages that many make consumption throughout the day enjoyable and fulfilling. The earning point max can go up to six times the reward points on the groceries, dining and entertainment in Canada. It has no foreign transaction fees as well, making it a great travel buddy especially for those who shop online internationally. The card also comes with a comprehensive insurance plan for those times when you need it most.
Understanding the annual fee
Another crucial aspect that must be looked at is the manner that the Scotiabank Gold American Express features its annual fees. The card has an annual fee of $120 that is however scrupulously offered for the first year on a free basis. This means that there is no cost on the rewards and the perks for the first one year of the program.
Deciphering credit limits
Scotiabank considers your credit score, income, and credit capacity after you have applied for the card, and then sets a limit on it. Normally, the credit line offered for this card is at least $5,000. Thus, depending on your favourable financial situation, you could be qualified for a higher limit.
Advantages of the Scotiabank Gold American Express card
- Scene+ Points: Get 6X points on meals, 5X points on dining, 3X points for groceries, gas and public transit, and 1X point for all other purchases.
- No Foreign Transaction Fees: Save 2.Copy 2. ; 5% on foreign currency purchases, making it perfect in travelling or buying products online.
- Insurance Coverage: These includes travel emergency medical, trip cancellation and rental car insurance.
Standout advantage
However, the Scotiabank Gold American Express Card has a spectacular coming in the form of great rewards. The idea of earning from up to six time the Scene+ Value Points on the most common purchases including the grocery bills, restaurants and movie theaters is indeed marvelous.
Addressing potential drawbacks
- Annual Fee: There is an annual fee of $120 for the credit card though this can be done away with for the first year only.
- Interest Rates: The card also has a higher rate of interest at 20 percent. Sixty nine percent on purchases and twenty-two percent on cash advances, respectivly. 99% on cash advances which is expensive if one is in the habit of rolling over the balances.
- Specific Spending Categories: The high rewards rates apply to only groceries, dining and entertainment which are not necessarily the spending tendencies of everyone who is using the card.
Standout disadvantage
The disbenefit characterized the Scotiabank Gold American Express Card as having the highest interest rate. At 20. For purchases it is 99% and for cash withdrawals 22. This can be costly very fast as the interest rate is 99% for cash advances when you carry a balance on this card.
Eligibility criteria
Applying for Scotiabank Gold American Express Card is quite easy, although there is a set of requirements one has to fulfill. The applicants are required to be residents of Canada and should be above the age of majority from their province or territory.
To get one you will need to have a credit score rating that is above average and a regular income. Other personal information must also be provided, as well as details on income and employment, among other things, by the applicants to Scotiabank.
How to apply for the Scotiabank Gold American Express card
It is easy to obtain Scotiabank Gold American Express Card and the options are the following: All the methods are created to correspond to the preference and thus, it will not be complicated for you to select the one which you prefer most. Check to know more:
Via website
Online application of the Scotiabank Gold American Express Card is simple and easy since it only requires the completion of an online form. Go to the Scotiabank official site, go to the credit cards category and choose the Scotiabank Gold American Express Card.
This means that when filling the online application form, one will have to fill his/her person data, family details, and other financial details among others. After filling the form, you will receive a confirmation email of application submission and the application will be processed as soon as possible.
Through the mobile application
One of the features that makes the Scotiabank credit card unique is the mobile application where you can conveniently apply for the credit card you want. Open the application, sign in or signup and locate the credit card application category.
Go through the displayed instructions about the entries to complete the fields containing your personal and financial data. The application status is updated in real time hence letting the client be informed all the time.
Through the store/branch
For big consumers who prefer a face-to-face engagement and would prefer getting personal attention, applying in-branch is ideal. Please see one of the Scotiabank branches and meet with one of the specialists.
They will help you fill in the application form and find answers to your questions as well as describe the main features of the card. Coaxing is more comforting due to the possibility of receiving a prompt response and help, during the process.