The 3 best travel rewards deals right now happen to be 3 cards with very similar names, so let’s look at each of them. It’s a great opportunity for you to understand the huge differences between how the only 2 types of rewards that exist work, but also between how the offers themselves can be structured, the card benefits, etc.
The key to traveling for less is really simple: take advantage of huge welcome bonuses regularly. You should know this if you’ve read our infographic with all the basics of travel rewards.
And right now, these 3 credit card deals are the best for 99% of travelers, all with $825 or more in free travel! Whichever you choose, at least get one! Stop wasting your spending by getting a terrible 1% or 2% rate if you’re not currently unlocking a welcome bonus. That’s the absolute worst thing you could do, especially when you know that having more cards improves your credit score, contrary to the very common (and very wrong) myth.
Here are the details of the best deals for August 2024.
Infographic about the 3 deals
Here’s an infographic that summarizes the 3 best deals.
Yes, all 3 are “Gold American Express” cards:
- Scotiabank Gold American Express Card
- American Express Gold Rewards Card
- American Express Business Gold Rewards Card (UPDATE: offer expired)
So this is also a great example of the importance of understanding that card names are often very similar.
(If only I would have gotten a dollar every time someone told me they had “the World Elite Mastercard” as if that was the name of a card… there are 20+ different World Elite Mastercards in Canada!!!)
As always, you can check out our credit card ranking and card resource pages for a lot more information.
But let’s take a look at each of the 3 cards to help you choose the one that’s best for you right now.
Scotiabank Gold American Express Card
It’s the best one right now for…
Everyone who wants more simple points (that can be used for any travel expense on any website).
In fact, the Scotiabank Gold American Express Card has one of the highest offers ever seen in Canada for simple points. It’s the highest offer seen on this card in a long time.
Flytrippers Valuation of welcome bonus
You’ll get 82,500 Scene+ points by unlocking the welcome bonus on the Scotiabank Gold American Express Card.
That’s worth a fixed amount of $825 for any travel expense on any website, or even $825 for groceries at Sobeys-affiliated stores (Safeway, FreshCo, IGA, Thrifty Foods, etc.) and other Scene+ partners.
Maximum value of welcome bonus
It’s $825. It could never be worth more.
As with everything in life, you either get more convenience or more value. These points are the most flexible and the easiest to use, so they can never give you outsized value.
Redemption options
Here is how you can redeem your rewards:
- $825: Any trips on any website
- $825: Any trips on the Scene+ website
- $825: Merchandise at participating stores
- ≈ $578 to $825: Gift cards
- ≈ $578: Merchandise online
- $578: Cash back as a statement credit
For more details, as always, you can check the tabs on our card resource page for the Scotiabank Gold American Express Card.
Math for the Flytrippers Valuation
You get $825 in rewards, and the first-year annual fee is waived.
So $825 minus $0 is $825.
Minimum spending requirement
To unlock the welcome bonus on the Scotiabank Gold American Express Card, you need to spend $1,000 in a maximum of 3 months (very easy) and an extra $6,500 in a maximum of 12 months (also very easy). These are 2 separate bonuses.
You do not need to renew the card to get the welcome bonus; you get the points as soon as you reach a total of $1,000 and $7,500 (the 3 months and 12 months are just your maximum timespan allowed). This particular deal is better if you spend in grocery stores, but you won’t get that much less if you spend elsewhere.
Effective percentage back
You get 11% back on $7,500 in spending ($825 on $7,500). A bit better than 1% or 2%, right?
Minimum income requirement
You must have a personal income of $12,000 or more to be eligible for the Scotiabank Gold American Express Card.
All cards issued by Amex Bank have no minimum income requirement, but this card is issued by Scotiabank even if it is indeed a card that runs on the Amex network (the same network as all Amex Bank cards). It’s a bit unique since Amex is both a bank that issues cards (like Scotiabank) and a card network (like Visa).
Welcome bonus eligibility restrictions
Scotia is the most strict bank in terms of welcome bonus eligibility rules. You must not have had any Scotia credit card in the past 2 years (and Scotia is the only bank that includes “joint” cards on someone else’s account).
These are the official rules… but they aren’t always enforced, and you might be lucky even if you’re technically not eligible. You can read more about welcome bonus eligibility rules.
Main benefits
The Scotiabank Gold American Express Card is one of only 5 credit cards in Canada that doesn’t charge the 2.5% foreign transaction fee on all your purchases made in a currency other than the Canadian dollar.
It’s a junk fee that so many people sadly don’t even know they’ve been paying.
Travel insurance
The Scotiabank Gold American Express Card has all the main types of travel insurance. The medical travel insurance is very good, with 25 days of coverage (for those aged 64 and under).
Earn rates highlights
Earn rates are way less important than just about everyone thinks they are, at least if you do travel rewards the right way with huge welcome bonuses.
But the Scotiabank Gold American Express Card does have a phenomenal earn rate of 5 pts/$ (5%) at all grocery stores or 6 pts/$ (6%) at Sobeys-affiliated grocery stores. That includes gift cards you can buy there for many other retailers and even prepaid credit cards to use at Costco and everywhere else. Just take the time to read a few warnings about the gift card and prepaid card trick.
Expiration
You have no time limit to use your points even if you close the Scotiabank Gold American Express Card, just like with almost every travel rewards currency (contrary to the very common myth).
Find out more
I did a video and text summary for this deal since it’s so good.
All the information is in the tabs on our card resource page for the Scotiabank Gold American Express Card, like with all cards.
American Express Gold Rewards Card
It’s the best one right now for…
Those who want points of the more lucrative type… but want fewer points, want to get them slower, and want to have to spend more than with the next card.
The American Express Gold Rewards Card is the highest offer in Canada right now in terms of pure valuation (apart from premium cards like the American Express Platinum Card), but it’s a great example that the details matter.
You really should get the next one instead, unless you really want a few lounge passes or NEXUS, or if can’t spend as much in the next 3 months.
Flytrippers Valuation of welcome bonus
You’ll get 72,000 American Express Membership Rewards points by unlocking the welcome bonus on the American Express Gold Rewards Card.
These points are worth a variable amount of ≈ $1080 conservatively, but they’re less flexible. You also get a $100 travel credit that you can cash out on day 1 with our pro tip (by applying it to a refundable hotel and then getting the hotel refunded).
Maximum value of welcome bonus
It’s literally unlimited. If you use the points well, they can be worth $1500 easily, even in economy class. In business class or first class, they can be worth $2000 easily.
That’s the beauty of travel rewards of the more lucrative type. You can get outsized value if you want to. The price in points is NOT tied to the price in cash.
Redemption options
Here is how you can redeem your rewards:
- ≈ $1,512 to UNLIMITED: Specific flights in premium cabins with airline price charts
- ≈ $1,080 to ≈ $1,512: Specific flights in economy class with airline price charts
- ≈ $1,080 to $1,440: Any flights with the Amex price chart
- ≈ $778 to UNLIMITED: Specific hotels with hotel price charts
- $720: Any trips on any website
- $720: Any trips on the Amex website
- $720: Cash back as a statement credit
For more details, as always, you can check the tabs on our card resource page for the American Express Gold Rewards Card.
Math for the Flytrippers Valuation
You get ≈ $1080 in rewards, and the net fee is $150 ($250 minus the $100 travel credit you can cash out).
So ≈ $1080 minus $150 is ≈ $930.
Minimum spending requirement
To unlock the welcome bonus on the American Express Gold Rewards Card, you need to spend $1000 per month for 12 months. Those are really 12 separate bonuses.
You do not need to unlock each one to get the others, but it’s obviously what you should do because getting all the points is better.
Effective percentage back
You get ≈ 7.8% back on $12,000 in spending (≈ $930 on $12,000). A bit better than 1% or 2%, right?
Minimum income requirement
You are eligible for the American Express Gold Rewards Card regardless of your personal income, as with all cards issued by Amex Bank.
Welcome bonus eligibility restrictions
Amex is also very strict when it comes to eligibility rules for the welcome bonus. You are not eligible for the American Express Gold Rewards Card’s welcome bonus if you’ve already had this specific card before.
These are the official rules… but they aren’t always enforced after a few years, and you might be lucky even if you’re technically not eligible. You can read more about welcome bonus eligibility rules.
Main benefits
The American Express Gold Rewards Card offers free access to VIP airport lounges, but it’s one of the most limited accesses. You can only access Plaza Premium lounges in Canada, but no lounges are included outside Canada. You get 4 passes per calendar year (so 4 in 2024 and 4 in 2025).
You also get a credit to get NEXUS for free to avoid almost all airport queues.
Travel insurance
The American Express Gold Rewards Card has all the main types of travel insurance, but no mobile device insurance.
Earn rates highlights
Earn rates are way less important than just about everyone thinks they are, at least if you do travel rewards the right way with huge welcome bonuses.
But the American Express Gold Rewards Card does have one of the best multiplier earn rates for travel expenses, with 2 pts/$ (≈ 3%).
Expiration
You have no time limit to use your points even if you close the American Express Gold Rewards Card, just like with almost every travel rewards currency (contrary to the very common myth).
Find out more
All the information is in the tabs on our card resource page for the American Express Gold Rewards Card, like with all cards.
American Express Business Gold Rewards Card (UPDATE: offer expired)
It’s the best one right now for…
Everyone who wants points of the more lucrative type.
The American Express Business Gold Rewards Card is a much better deal than the non-business version right now, and you do not need to have an incorporated business to get it (but you do need to follow special instructions).
It’s the best deal to get the biggest amount of points in the shortest timeframe for points of the more lucrative type!
Flytrippers Valuation of welcome bonus
You’ll get 75,000 American Express Membership Rewards points by unlocking the welcome bonus on the American Express Business Gold Rewards Card.
These points are worth a variable amount of ≈ $1,125 conservatively, but they’re less flexible.
Maximum value of welcome bonus
It’s literally unlimited. If you use the points well, they can be worth $1500 easily, even in economy class. In business class or first class, they can be worth $2000 easily.
That’s the beauty of travel rewards of the more lucrative type. You can get outsized value if you want to. The price in points is NOT tied to the price in cash.
Redemption options
Here is how you can redeem your rewards:
- ≈ $1,575 to UNLIMITED: Specific flights in premium cabins with airline price charts
- ≈ $1,125 to ≈ $1,575: Specific flights in economy class with airline price charts
- ≈ $1,125 to $1,500: Any flights with the Amex price chart
- ≈ $778 to UNLIMITED: Specific hotels with hotel price charts
- $750: Any trips on any website
- $750: Any trips on the Amex website
- $750: Cash back as a statement credit
For more details, as always, you can check the tabs on our card resource page for the American Express Business Gold Rewards Card.
Math for the Flytrippers Valuation
You get ≈ $1,125 in rewards, and the card fee is $199.
So ≈ $1,125 minus $199 is ≈ $926.
Minimum spending requirement
To unlock the welcome bonus on the American Express Business Gold Rewards Card, you simply need to spend $5000 in a maximum of 3 months.
Again, it’s literally the best offer right now to get a lot of points of the more lucrative type in a short time span.
Effective percentage back
You get ≈ 18.5% back on $5,000 in spending (≈ $926 on $5,000). A bit better than 1% or 2%, right?
Minimum income requirement
You are eligible for the American Express Business Gold Rewards Card regardless of your personal income, as with all cards issued by Amex Bank. Just follow the simple instructions if you don’t have an incorporated business.
Welcome bonus eligibility restrictions
Amex is also very strict when it comes to eligibility rules for the welcome bonus. You are not eligible for the American Express Business Gold Rewards Card’s welcome bonus if you’ve already had this specific card before.
The business card and non-business card are 2 completely separate cards; that’s not a problem. They’re different cards, so you can get the welcome bonus on each, even if their names are similar.
Main benefits
The American Express Business Gold Rewards Card has only the standard Amex benefits such as Amex Offers discounts, American Express Experiences access, and The Hotel Collection.
Another benefit for travel rewards pros is that this card is a charge card, meaning it doesn’t count towards the limit of only 4 Amex cards you can hold simultaneously.
Travel insurance
The American Express Business Gold Rewards Card has the main types of travel insurance except medical travel insurance and trip cancelation/interruption insurance.
Earn rates highlights
Earn rates are way less important than just about everyone thinks they are, at least if you do travel rewards the right way with huge welcome bonuses.
But the American Express Business Gold Rewards Card does have a simple flat base earn rate of 1 pt/$ (≈ 1.5%) everywhere.
Expiration
You have no time limit to use your points even if you close the American Express Business Gold Rewards Card, just like with almost every travel rewards currency (contrary to the very common myth).
Find out more
All the information is in the tabs on our card resource page for the American Express Business Gold Rewards Card, like with all cards.
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Summary
These 3 deals with American Express Gold cards are currently the best for 99% of travelers! As always, the welcome bonuses are the key to traveling for less: you get $825 or more in free travel whether you get the Scotiabank Gold American Express Card, the American Express Gold Rewards Card, or the American Express Business Gold Rewards Card. We’ve broken down each of them to help you choose the card that’s best for you according to the reward types that you prefer, the key benefits, etc.
What would you like to know about the 3 American Express Gold card offers for August? Tell us in the comments below.
See the flight deals we spot: Cheap flights
Discover free travel with rewards: Travel rewards
Explore awesome destinations: Travel inspiration
Learn pro tricks: Travel tips
Featured image: Cannon Beach, Oregon, United States (photo credit: GPA Photo Archive)
Valuation $825