Scotiabank Platinum American Express® Card Review

The Scotiabank Platinum American Express card is extremely versatile, primarily due to its flat rate of points on all eligible purchases.

It tops off this flexible rewards program with tons of insurance protections geared towards travellers and shoppers alike.

For some, the best part is the benefits. These perks provide plenty of airport lounge access, upgrades, and no foreign transaction fees (which is rare). For others, the main benefit might be the low interest rates that this card provides.

Anyone can take advantage of this particular credit card, whether they’re a frequent traveller or a constant spender.

For more information on this well-rounded Amex option, take a look at this review.

How You Earn Rewards with the Scotiabank Platinum American Express Card

For starters, let’s take a look at the rewards program – which is pretty straightforward. With the Scotiabank Platinum American Express Card, you’ll earn the same amount of Scene+ points per dollar spent on all eligible purchases. This gives cardholders the flexibility to earn solid rewards on multiple categories – catering to shoppers of all kinds.

Redeeming your Rewards with the Scotiabank Platinum American Express Card

While there’s only one all-encompassing spend category, there are plenty of specified redemption categories with the Scotiabank Platinum American Express Card.

Let’s break down all of the redemption categories, ranked from most valuable to least valuable:

• Entertainment and Experiences: when you redeem your points towards entertainment experiences like going to the movies, shows, or any eligible concerts.
• Travel: when travel is booked through partnered platforms using points for eligible flights and/or vacation packages.
• Groceries (at Sobeys): when you redeem your points towards grocery or gas purchases at eligible merchants, for example, Sobeys.
• Restaurants: when you use your points to front the bill at eligible restaurants.
• Merchandise: when you redeem your points to purchase eligible everyday items.
• Gift Cards: when points are turned into eligible gift cards.
• Statement Credits: when you transform your points into cash towards your credit card statement balance.

While there are multiple ways to make use of your Scotiabank Platinum American Express’s Scene+ points, as you can see from the above list, the best ways to redeem these points are through entertainment, travel, and everyday purchases like gas and groceries. These are the categories in which you’ll receive the most credit. The lower the category on the list, the less point value you’ll have when redeeming.

8 Benefits of the Scotiabank Platinum American Express Card

There are a bunch of benefits worth noting with the Scotiabank Platinum American Express Card.

Here are some of the top perks you can expect:

A Substantial Sign-up Bonus

Signing up for a credit card always feels better when there’s a welcome bonus involved. With the Scotiabank Platinum American Express Card, you can expect an intro offer of extra Scene+ points when you hit a specified spending cap on everyday eligible purchases in the first few months of membership. Additionally, you can earn even more points when you spend a specific amount in everyday eligible purchases in your first 14 months of membership. That’s two exciting ways to collect tons of Scene+ points right from the start.

No Foreign Transaction Fees

Perhaps one of the biggest perks of the Scotiabank Platinum American Express Card is that it has no foreign transaction fees. This means that you can shop internationally without incurring any extra charges (which on other cards is typically about 2.5%). This particular perk is rare, and extremely valuable for travellers and online shoppers. 

Airport Lounge Access

The Scotiabank Platinum American Express Card grants you 10 visits to Priority Pass and Plaza Premium lounges, plus 4 visits for supplementary cardholders. Note that after you use up these complimentary visits, you will be subject to a fee.

To gain entry at participating Priority Pass lounges, you’ll need to present your Priority Pass Membership Card or Digital Membership Card to reception. 

To visit Plaza Premium lounges, provide reception with your Scotiabank Platinum American Express Card.

With this access, you’ll be able to visit more than 1200 Airport VIP lounges across the globe – no matter which class or airline is on your ticket. Once inside, enjoy a soothing atmosphere stocked with complimentary snacks and refreshments, internet, and conference spaces.

Extensive Insurance

With 13 comprehensive coverage categories, it’s safe to say that the Scotiabank Platinum American Express Card allows you to travel and tap your card with peace of mind. These categories include valuable protections like emergency medical over 65, trip interruption and trip cancellation coverage, plus mobile device insurance. You’ll also notice generous coverage values across most categories.

Relatively Low Interest Rates

Compared to other credit cards on the market, the Scotiabank Platinum American Express Card is equipped with low interest rates for both cash advances and purchases. These rates are about half the value of some of the interest rates you'll see (on average) on other cards.

Switching to a low-interest credit card like the Scotiabank Platinum American Express Card is optimal for those who worry about needing to carry a balance from time to time. This way, you can catch up on your payments without collecting many large extra charges along the way.

Hertz #1 Club Gold Member Status Lift

At over 8,500 locations spread across 147 countries, the Scotiabank Platinum American Express Card allows you to reap the benefits of becoming a Hertz #1 Club Gold Member.

This membership provides prompt services (by bypassing the rental counter), minimal paperwork, and other premium privileges (like rental car pre-selection) at participating Hertz rental car locations. 

Concierge Services

Whether you need a last-minute restaurant reservation, tickets to a nearly sold-out show, or help picking out an epic anniversary gift – there’s a credit card concierge service for that.

The Scotiabank Platinum American Express Card gives you access to 24/7 support that specializes in travel and lifestyle bookings. 

As long as you’re prepared to pay the bill, your concierge is ready to do all the planning.

Flexible Travel Rewards

Instead of being tied to specific travel platforms like you are with other points loyalty programs, Scene+ points allow you to make flexible travel arrangements through any travel provider. 

Here’s how to secure a covered booking:

• Book your eligible trip using your Scotiabank Platinum American Express Card.
• Keep an eye out for when your trip expense is posted to your card.
• Once you see your trip on your statement, log into sceneplus.ca.
• Tap “Apply Points to Travel” to cover any eligible trip costs within 12 months of the date of the purchase.

3 Downsides of the Scotiabank Platinum American Express Card

An informed decision is one that’s made with all the facts. That’s why we’re also including some of the Scotiabank Platinum American Express Card’s shortcomings.

Here are a few aspects of the card to look out for:

High Annual Fee

The Scotiabank Platinum American Express Card’s annual fee certainly sits on the higher end of the spectrum. To get the most out of this fee, you’ll need to make sure you’re prepared to take advantage of all the card’s perks.

Limited Premium Perks

Speaking of annual fees and perks, for such a high yearly cost, it can be argued that the Scotiabank Platinum American Express Card could come with more premium perks like free checked baggage, travel credits, and priority boarding (benefits offered by competitors of a similar price-range).

Amex Acceptance Rate

Compared to other credit card networks like Mastercard or Visa, American Express is less widely accepted as a source of payment – specifically in places across Europe or small-scale retailers.

Comparison to other Scotiabank No-Foreign-Transaction-Fee Travel Credit Cards

The next step in this review process is to supply you, our readers, with a comprehensive comparison between the Scotiabank Platinum American Express Card and other similar credit cards on the Canadian market.

Here are a couple of other Scotiabank no-foreign-transaction-fee travel credit cards that may also interest you depending on your spending habits and financial needs:

Scotia Platinum vs Scotiabank Gold American Express Card

It’s a valid question: should you go platinum or gold?

Similar to the Scotiabank Platinum American Express Card, the Scotiabank Gold American Express Card offers extensive insurance, no foreign transaction fees, and a nice Scene+ rewards program.

Starting with the rewards program, while the Scotiabank Platinum American Express Card has one standard earn rate for all eligible purchases, the Scotiabank Gold American Express Card breaks things down a little bit further. You can earn more points per dollar spent at partnered grocers like Sobeys and Foodland, followed by points per dollar spent on eligible dining, other grocery stores (not partnered with the card), and entertainment. There are also solid earn categories for transit and eligible streaming services – categories that also earn you more than the standard points offered by the Scotiabank Platinum American Express Card. Other than the Scotiabank Gold American Express Card’s specialized categories, there is a base rate that earns you a Scene+ point per dollar on all other eligible purchases, whereas the Scotiabank Platinum American Express Card still holds onto its higher flat rate.

In terms of coverage, the Scotiabank Platinum American Express Card and the Scotiabank Gold American Express Card offer cardholders the same 13 insurance categories. That said, the Scotiabank Platinum American Express Card includes insurance categories with higher coverage amounts, just take a look at the coverage on categories like emergency out of province medical, emergency medical over 65, plus trip interruption and trip cancellation insurance.

Both cards share some of the same benefits, particularly no foreign transaction fees (as mentioned), concierge services, discounts on Priority Pass memberships, and the standard American Express Experiences. However, the Scotiabank Platinum American Express Card goes on to offer many more benefits like extra points on specified travel bookings, the Hertz #1 Club Gold Member status lift, and airport access through Priority Pass and Plaza Premium lounges.

The two cards also have similar income requirements, but the Scotiabank Gold American Express Card luckily has a lower annual cost that’s also completely waived in the first year – making it much more budget-conscious.

Ultimately, if points are more important to you, then the Scotiabank Gold American Express Card has you covered with multiple high-earn categories. Alternatively, if benefits are a priority, then the Scotiabank Platinum American Express Card is clearly the better choice.

Scotia Platinum vs Scotiabank Passport Visa Infinite Card

If you’re worried about the lower Amex acceptance rate, Scotiabank also has a Visa credit card that’s travel-oriented and equipped with no foreign transaction fees. 

When compared to the Scotiabank Platinum American Express Card, the Scotiabank Passport Visa Infinite Card will earn you more points per dollar spent at partnered grocers like Sobeys and Foodland, plus similar points per dollar spent on eligible dining, other grocery stores, entertainment, and transit purchases. Aside from these specialized categories, the Scotiabank Passport Visa Infinite Card will earn you one point per dollar spent on everything else – which of course is lower than the Scotiabank Platinum American Express Card’s flat rate on all eligible purchases.

Regarding insurance, the Scotiabank Passport Visa Infinite Card features nearly as many coverage categories as the Scotiabank Platinum American Express Card, except its list is missing mobile device insurance. Not to mention, some sought-after categories, like trip interruption and trip cancellation insurance, are more valuable.

The two cards share benefits like the obvious but rare no foreign transaction fees perk, concierge services, and status lifts (except the Scotiabank Passport Visa Infinite Card offers an Avis status lift rather than a Hertz status lift). Other than that, the Scotiabank Passport Visa Infinite Card boasts Visa Infinite Exclusive Benefits over Amex Experiences, and 6 complimentary visits through the Dragon Pass – which isn’t as many visits as you’ll get with Priority Pass and Plaza Premium lounges on the Scotiabank Platinum American Express Card. 

The Scotiabank Passport Visa Infinite Card also has a lower annual fee than the Scotiabank Platinum American Express Card, but it does have higher income requirements.

Overall, you might pick the Scotiabank Passport Visa Infinite Card over the Scotiabank Platinum American Express Card if you want to spend less for some higher points on partnered grocery purchases, and still have extensive coverage and solid benefits whilst avoiding Amex given it's less accepted. Otherwise, especially if you don’t meet the income requirements and can afford a higher annual fee, the Scotiabank Platinum American Express Card is the superior option in terms of coverage, benefits, and overall flexible point earnings.

Comparison to the American Express Platinum Card

On top of our comparison to other Scotiabank no-foreign-transaction fee cards, we'd like to compare platinum to platinum.

Let's compare the Scotiabank Platinum American Express Card to the American Express Platinum Card:

Scotia Platinum vs Amex Platinum

The best way to start off this comparison is to observe the benefits section between the two cards.

While both cards offer concierge services and standard American Express Experiences, the American Express Platinum Card's status lifts are hotel-focused rather than rental-car-focused and the extra points perk is earned on Amex Travel Online purchases as opposed to Scene+ Travel. The benefits list for the Amex Platinum Card is also more extensive, offering perks like a travel and dining credit, unlimited airport lounge access through the American Express Global Lounge Collection (as opposed to a handful of visits through more limited networks), a NEXUS Program rebate, and Priority Travel advantages. Keep in mind, however, that if you came here looking for a no-foreign-transaction-fee credit card, the Amex Platinum Card does include foreign transaction fees, unlike the Scotiabank Platinum American Express Card.

The rewards programs are similar, but if you're tapping your Amex Platinum Card on purchases other than dining and eligible travel, the base rate for all other purchases is much lower than the flat rate offered by the Scotiabank Platinum American Express Card. Still, the American Express Platinum Card's American Express Membership Rewards points are generally worth more than the Scotiabank Platinum American Express Card's Scene+ points.

As far as insurance goes, the coverage on the Scotiabank Platinum American Express Card is slightly better in certain categories (like trip interruption and emergency out of province medical insurance), plus this platinum card comes with extra coverages like mobile device insurance and emergency medical over 65 insurance.

There are still a few other aspects to consider, like how the annual fee of the American Express Platinum Card is about twice the cost of the annual fee of the Scotiabank Platinum American Express Card. That said, if you take advantage of all of the perks the American Express Platinum Card offers, you can offset this annual expense. Unlike the Scotiabank Platinum American Express Card, the American Express Platinum Card has no income requirements, but the income requirements for the Scotiabank Platinum American Express Card are minimal.

Overall, if you want the platinum card with the most perks (or the credit card with the most perks in general), the American Express Platinum Card should be your go-to. On the other hand, if you still want good perks, more coverage, and no foreign transaction fees – all for half the annual cost, the Scotiabank Platinum American Express Card should still be your top contender.

How to apply for the Scotiabank Platinum American Express Card

After going over some alternatives, if you’re still intent on applying for the Scotiabank Platinum American Express Card, here’s how the application process works:

1. Go to the Scotiabank official website.
2. Select “Credit Cards” from the drop-down menu, then “Card types.”
3. After “Card types” you’ll want to choose “Travel & lifestyle credit cards,” then scroll until you see the Scotiabank Platinum American Express Card.
4. Click or tap the card details link to review all the card information directly from the source. Once you’re satisfied with everything, press “apply now.”
5. First, you’ll need to agree to some terms and conditions.
6. Next, provide your personal details like your name, phone number, and email address.
7. You’ll then be asked to create a username and password for your Scotiabank account.
8. After that, verify your identity.
9. At some point, you’ll also be asked to include your financial information like your employment details and income.
10. Once each section has been properly filled out and reviewed, submit your application.

Skip the navigational part of this process by hitting the “apply now” button beneath the Scotiabank Platinum American Express Card at the top of this review.

Final Verdict

If you’re willing to pay the higher annual fee, the Scotiabank Platinum American Express Card could be a great option for smart spenders and frequent travellers who want to earn competitive flat-rate points on all eligible purchases, pocket extensive and comprehensive insurance, and bask in tons of travel-friendly benefits.

Some standout features of this card are its low interest rates, flexible rewards, and no foreign transaction fees. While some other credit cards offer the rare no foreign transaction fees perk (as mentioned in our comparison section), these cards typically don’t have as many benefits, or as valuable of coverage as the Scotiabank Platinum American Express Card.

If you want even more benefits and don't mind spending more annually, the Amex Platinum Card provides better value overall and all the perks you could ask for.

Frequently Asked Questions

Is the Scotiabank Platinum American Express Card worth it?

If you can afford the annual fee and you plan on optimizing all of the Scotiabank Platinum American Express Card’s perks, then the credit card could be worth it. Its value to you will all depend on your overall spending habits.

What are the income requirements of the Scotiabank Platinum American Express Card?

The Scotiabank Platinum American Express Card only has a personal income requirement of $12,000.