Scotiabank gold American Express card


A great card for travel insurance for those with income under $60k



in free travel

of Welcome Bonus alone
($1,000 minimum spend in 3 months***)

via Scotiabank secure application

Flytrippers                    Opinion

There’s no valid excuse for not having great insurance coverage for free, because almost all are eligible for this card that does not require a high income (only $12,000).

Some would even say that paying for a flight with a card that does not have insurance for the delay is frankly stupid. This card offers doesn’t offer a huge signup bonus but it has an excellent earn rate on your purchases in certain categories, especially food that now earns 5X the points!

The card has a new benefit: no foreign transaction fee, which is an amazing deal.

Our Flytrippersvaluation of the Welcome Bonus is a net of $140, one of the best Scotiabank offers we’ve seen recently in Canada, but it can even go higher if you spend more. We both have this card because it also has very interesting Air Canada benefits, including priority boarding and an annual lounge pass.

Read our Scotiabank Gold American Express Card review or scroll down for our point-by-point analysis.

Our Flytrippers Highlights

(read our detailed analysis below)

  • ≈ $140 in free travel
  • Additional spend bonus offered as well
  • High potential value of Scotia Points
  • Good category bonus on earn rate
  • Excellent insurance coverage
  • One annual AC Lounge pass

Scotiabank Gold Official Highlights

(read full details on the Scotiabank Gold website)

  • Make every day more rewarding with Amex Offers. With offers for shopping, dining, travel, and more, there’s something for everyone. Adding offers to your card is quick, easy, and best of all, incredibly rewarding
  • Cardmembers can purchase Front Of The Line presale tickets to some of the most in-demand concerts, theatre productions, restaurants, and special events before the general public
  • Enjoy a variety of special offers and events created just for you. From advance screenings of blockbuster movies, to weekend getaway packages and special online and in-store shopping deals, it’s never been easier to have an experience you’ll never forget
  • Book and redeem any flight for any time through Scotia Rewards Travel Service, a full-service travel agency. Plus, take advantage of the Best Price Guarantee on airfare. Reward yourself and choose from a wide selection of merchandise and gifts by visiting Scotia Rewards
  • Complimentary concierge services – Whether you need help booking your restaurant reservations or scoring tickets for a show, our concierge service is happy to assist you 24/7
  • Airport lounge access – Be confident that you’ll have a place to relax or catch up on business. Enjoy a preferred discount on the Priority Pass membership and access over 1200 VIP lounges around the world as a Scotiabank Gold American Express Cardholder
  • Save time at the checkout – Tap your Scotiabank Gold American Express Card on your smartphone for quick easy payments
  • Sponsored advertising

Rates & Fees

(read why you should skip this section)

  • Interest (Purchases): 20.99%
  • Interest (Cash Advances): 22.99%
  • Annual fee: $120
  • Authorized Users: $29
  • Certain conditions apply*

Our Detailed Analysis

Who This Card Is For


Welcome Bonus

This card has a two-part Welcome Bonus. The first part requires $0 minimum spend and is a bit less valuable, but since most cards usually require an easy $1,500 in 3 months, I’ve covered that easy to reach scenario in the next section, along with the even higher potential of the additional spend bonus.

Unlocking the TD Aeroplan Visa Infinite Card’s Welcome Bonus will earn you ≈ $90 in free travel per our Flytrippersvaluation.

Here’s the breakdown:

Singup Bonus of 20,000 Scotia Points Rewards:

= $200 (fixed value of 1.0¢/pt) Points earned on the $1,000 minimum spend
+ $10 (minimum amount) Card fee 
– $120 (deducted from free travel total)

≈ $90 in free travel (fixed value) + all points earned with regular purchases

How to unlock the Welcome Bonus:

  • There is a $1,000 minimum spend in 3 months requirement to unlock this Welcome Bonus; you will get it after your first purchase
  • The annual fee will be charged then credited back
  • See next section for second part of the Welcome Bonus

Additional Spend Bonus

Usually, what we call Additional Spend Bonuses aren’t very lucrative, because of the opportunity cost of putting a lot of spend on one card. But this one is good, especially since the regular “basic” Welcome Bonus requires no minimum spend. TD calls this second part the “Welcome Earn Bonus”.

You can earn an additional spend bonus of up to 15,000 Aeroplan Miles (worth another ≈ $225) thanks to an increased earn rate in the first 3 months, but you have to spread it out evenly in each month to maximize it (it’s capped at 5,000 Miles per month).

You get an extra 5 Aeroplan Miles per dollar. So you will earn 6.5 Aeroplan Miles on grocery, gas, drugstore and purchases (bonus categories) and 6 Aeroplan Miles everywhere else (non-bonused categories). 

Let’s first look at a scenario where you would spend $1,500 in 3 months like you would for most cards, and entirely in the bonused categories (easy with our tips, it’s barely over $100 a week). You can also max it out with a combination of bonused and non-bonused spend. That would be $1,500 multiplied by 6.5 Miles, for a total of 9,750 Miles (5 Bonus Miles and 1.5 Miles regular earn rate).

Here’s the full breakdown of your free travel then:

≈ $225 (Welcome Bonus of 15,000 Aeroplan Miles worth ≈ 1.5¢ per Mile)
≈ $112 (Additional Spend Bonus of 7,500 Aeroplan Miles worth ≈ 1.5¢ per Mile)
≈ $34 (Regular earn rate of 2,250 Aeroplan Miles worth ≈ 1.5¢ per Mile)
– $0 (Annual Fee waived the first year)

≈ $371 in free travel


You could also unlock the full Additional Spend Bonus by spending $3,000 in the bonused categories in 3 months ($1,000 every month).

That would give you one of the most lucrative Welcome Bonuses possible:

≈ $225 (Welcome Bonus of 15,000 Aeroplan Miles worth ≈ 1.5¢ per Mile)
≈ $225 (Additional Spend Bonus of 15,000 Aeroplan Miles worth ≈ 1.5¢ per Mile)
≈ $68 (Regular earn rate of 4,500 Aeroplan Miles worth ≈ 1.5¢ per Mile)
– $0 (Annual Fee waived the first year)

≈ $518 in free travel

You can read our detailed analysis to see if this additional spend bonus makes sense for you.

Regular Earn Rate

After your ≈ $140 sign-up bonus (Welcome Bonus and additional spend bonus), for each dollar you spend you will earn:

  • 1 pt (1.0%) per $ everywhere
  • 3 pts (3.0%) per $ in gas stations, transit, and streaming services
  • 5 pts (5.0%) per $ in grocery stores, restaurants, and in entertainment
You can read our article about maximizing earn rates on your spending.

How To Use Scotia Points

Scotia Points are fixed-value Points and can be applied to travel expenses as a credit, so they are extremely flexible but can not give you more for your money.

More details coming soon in the Travel Hacking section.


You will easily get nearly 25,000 Aeroplan Miles with the easy scenario and then you can easily get another 5,000 or 10,000 (and more) with your regular spending.

Aeroplan Miles are variable-value points, which means that how you use them will determine how much value you’ll get out of them. It is a complex program but you can find amazing redemptions if you understand how the program works. Keep in mind it will be entirely revamped in Q3 2020.

We estimate the 25,000 Miles to be worth $375. Like other variable-value points with award charts, you’ll get the best value out of Aeroplan Miles by using them when cash prices are expensive. You’ll also get the best value if you live in cities served by Star Alliance airlines other than Air Canada.

Here are just a few great uses of your Aeroplan Miles:

  • 25,000 Miles: roundtrip flight to anywhere in North America (≈ $100 taxes on United; ≈ $200 taxes and surcharges on Air Canada)
  • 25,000 Miles: roundtrip flight to the US for only $14 in taxes by departing from a US airport (on United)
  • 25,000 Miles: multi-destination flight in North America with 2 cities (≈ $100 taxes on United; ≈ $200 taxes and surcharges on Air Canada)
  • 15,000 Miles: roundtrip flights to short-haul destinations (≈ $200 taxes and surcharges; discounted short-haul pricing is only on Air Canada)
  • 30,000 Miles: one-way flight to anywhere in Europe (≈ $70 taxes on select Star Alliance carriers; ≈$130 taxes and surcharges on Air Canada)
  • 20,000 Miles: one-way flight to anywhere in Mexico or the Caribbean (≈ $100 taxes on select Star Alliance carriers; ≈ $100 on Air Canada)
  • 55,000 Miles: one-way business class flight to Europe (≈ $130 on Star Alliance carriers; ≈$200 taxes and surcharges on Air Canada)

You can read our detailed articles about the Best Aeroplan Miles Uses and How To Maximize The Value Of Aeroplan Miles.

Air Canada Benefits

You get Air Canada travel benefits only when you travel using an Aeroplan Flight Reward redeemed from your Aeroplan account and only when you travel on flights operated by Air Canada®, Air Canada Rouge® or under the Air Canada Express® banner.

The benefits are:

  • One annual One-Time Guest Access Benefit to an Air Canada Maple Leaf Lounge™
  • Priority check-in and priority boarding
  • One complimentary first checked bag
You can read our review of the TD Aeroplan Visa Infinite Air Canada benefits.

Insurance Coverage

This card has very good coverage, and to be insured for my Aeroplan flights I use this card to pay for taxes.

You get extensive travel insurance coverage:

  • 25-day Medical travel insurance (64 years and under)
  • Flight delay insurance ($500, 4hr minimum)
  • Car rental insurance
  • Baggage & personal effects insurance
  • Trip cancellation insurance
  • Travel accident insurance
  • Hotel burglary insurance
  • Purchase protection and extended warranty 

You also get the standard retail protections:

  • Purchase Security (90 days)
  • Extended Warranty (up to 1 additional year)
You can read our detailed article about credit card insurance coverage.

Other Benefits

You get benefits exclusively for Scotiabank Gold cardholders:

  • Complimentary Scotiabank Gold Concierge
  • Scotiabank Gold Luxury Collection Hotels
  • Scotiabank Gold Food and Wine Experiences

Complete Card Benefits Table

Download our Flytrippers comprehensive data table with 50+ lines of facts about the Scotiabank Gold American Express Card.

Eligibility Requirements

Income requirement: $12,000 annual income.

Restriction: if you have opened a Scotiabank account in the last 6 months, you will not be eligible for this offer.

Get the Scotiabank Gold American Express Card and earn Scotia Points

via Scotiabank secure application

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Here are our other articles about the Scotiabank Gold American Express Card:

  •  Scotiabank Gold American Express Review


Here are our other articles about the  Scotiabank Gold American Express Program:

  • Ultimate Guide: Scotiabank Gold American Express Program
  • Best Scotia Points Uses
  • How To Maximize The Value Of Scotia Points
  • How To Earn Scotia Points

Other Travel Rewards Resources

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