Scotiabank Gold American Express® Card vs RBC ION Visa: Which one is better?
Scotiabank Gold American Express® Card
4.9
RBC ION Visa
2.7
Welcome Bonus*
Earn 20,000 bonus Scene+ points by making at least $2,000 in everyday eligible purchases in your first 3 months. Plus, for a limited time, you are eligible to earn a 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year.
Welcome Bonus
Get 6,000 Avion points upon approval
Our Cash Offer
$100 Cash Rebate offer from FinlyWealth
Our Cash Offer
N/A
Rewards Breakdown
Annual Rewards
$644.5
Scene+
First Year Bonus Value
+
$400
Scene+
Annual Fee
-
$120
Finly Rebate
+
$100Exclusive Offer
First Year Value
$1,024.5
$524.5 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$258.39
RBC ION Avion
First Year Bonus Value
+
$35
RBC ION Avion
Annual Fee
-
$0
First Year Value
$293.39
$258.39 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
How to Earn Rewards*
- Earn 6x Scene+ points on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
- Earn 5x Scene+ points for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions.
- Earn 5x Scene+ points for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
- Earn 3x Scene+ points for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
- Earn 3x Scene+ points for every $1 CAD you spend in Canada on eligible select streaming services
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 4x Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
How to Earn Rewards
- 1.5 points for every dollar in grocery, rides, gas, electric vehicle charging, streaming, digital gaming, subscriptions and more
- 1 point for all other purchases
Insurance Included*
Extended Warranty
Up to 1 year
Purchase Protection
90 days
Lost or Stolen Baggage
$500/person, $1000/trip
Baggage Delay
$500/person, $1,000/trip After 4 hours.svg)
Car Rental Damage & Theft
$65K up to 48 days
Travel Accident
$500K/person, $1M/occurrence
Mobile Device Insurance
$1,000
Hotel Burglary Insurance
$1000/occurrence
Emergency Out of province Medical
$1M, Up to 25 daysEmergency Medical Over 65
$1M, Up to 3 days
Trip Cancellation
$1500/person, $10000/trip
Trip Interruption
$1500/person, $10,000/tripFlight Delay
$500/person
Insurance Included
Extended Warranty
Up to a yearPurchase Protection
90 days
Extra Benefits*
No Foreign Transaction Fees
Avoid the 2.5% foreign transaction fees incurred when spending in non $CAD.svg)
Concierge Services
Discount
Discount on PriorityPass Membership
American Express® Experiences
Extra Benefits
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Gas Discount
save 3¢/L on fuel and always earn 20% more Petro-Points at Petro-Canada
Extra points
50 Be Well points for every $1 spent on eligible products at Rexall
Interest Rates*
Purchase:
20.99%
Cash Advance:
22.99%
Balance Transfer:
22.99%
Interest Rates
Purchase:
20.99%
Cash Advance:
22.99%
Annual Fee*
$120
Annual Fee
$0
Income Required*
Min Personal Income:
$12,000
Min Household Income:
$12,000
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Loyalty Program*
Loyalty Program
Point Redemption Options*
Travel
1¢ / point
Merchandise
0.76¢ / point
Gift Cards
0.74¢ / point
Statement Credits (Cash)
0.7¢ / point
Entertainment
1¢ / point
Groceries (Sobeys)
1¢ / point
Restaurants
1¢ / point
Point Redemption Options
Gift Cards
0.72¢ / pointMerchandise
0.7¢ / pointTravel
0.6¢ / pointStatement Credits (Cash)
0.58¢ / pointMost Optimal
Transfer to WestJet
1¢ / point
Financial Products
0.83¢ / point
Is this card worth it?
The Scotiabank Gold American Express® Card is one of our favorite cards. It has a very solid rewards program, earning one of the highest rewards among all credit cards in Canada. In addition, it offers comprehensive travel benefits, including the rare and valuable no foreign transaction fee benefit, making it a great and balanced credit card in terms of both rewards and benefits. The first-year annual fee waiver is the cherry on top, providing even greater value to cardholders.
Is this card worth it?
We actually don't like this card. It neither offers great benefits nor rewards, even for a free card. It's a very average card with many better and worse alternatives, both paid and free.
Pros
- No foreign transaction fee saves you 2.5% on all non-CAD purchases.
- Rewards cover all high-spending categories, including food, groceries, entertainment, and gas.
- Comprehensive coverage of all travel insurance.
Pros
- Good savings on gas if you are a regular petro-Canada gas customer.
Cons
- The card network is American Express, which might not be widely accepted in some countries, making it a bit harder to use the no foreign transaction fee benefit.
- Having a lounge pass would have made this card even more perfect, but there is access to a discount code for lounge access pass purchases.
Cons
- Insurance coverage is the most basic.
- Reward categories are not the best.
- Avion reward points are generally less valuable.
- Many other cards with no annual fee are available that are all-around better cards than ION Visa.
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