Scotiabank is one of the best financial institutions in Canada to get a credit card from. And, with 13 cards currently on offer, there’s plenty to choose from, too. They have cards with premium travel rewards, cash-back, no annual fees and even two student credit cards. Plus, most of their cards earn Scene+ points, which means there’s likely free movies, entertainment and travel up for grabs, too. To help you find the card best suited to you, we’ve rounded up the best Scotiabank credit cards in Canada.
When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With the best Scotiabank credit cards the scoring model used takes into account factors such as, but not limited to, cash-back rates or reward rates and categories, fees, welcome bonus, and other rewards and features. Keep in mind, what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.
The Scotiabank Gold American Express Card boasts excellent travel rewards, no foreign exchange fees and comprehensive insurance coverage.
Rewards: Earn 6 Scene+ points per dollar spent at participating grocers, 5 Scene+ points per dollar spent at other grocers, restaurants, food delivery and entertainment, 3 Scene+ points per dollar spent on gas, daily transportation and streaming services and 1 Scene+ point per dollar spent on everything else.
Welcome Offer: 40,000 Scene+ points (Earn 20,000 points by making at least $1,000 in the first three months, get 20,000 points when you spend at least $7,500 in your first year). Must open card by July 1, 2024 to qualify.
Annual Fee: $120
Other Benefits and Drawbacks: The Scotiabank American Express Gold Card is one of the best credit cards for casual travellers. It offers excellent insurance coverage and there are no foreign transaction fees. The only drawback to this card is the American Express badge, which makes it less likely to be accepted than alternatives from Visa and Mastercard.
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The Scotia Momentum Visa Infinite Card is an ideal credit card for daily use, paying up to 4% cash back on purchases and offering very good travel insurance.
Rewards: Earn 4% cash back on groceries and recurring payments, 2% cash back on gas and daily transit and 1% cash back on everything else.
Welcome Offer: New customers pay no annual fee in the first year and receive 10% cash back for three months or $2,000 in spending. Must apply by October 31, 2024 to qualify.
Annual Fee: $120
Other Benefits and Drawbacks: The Scotiabank Momentum Visa Infinite Card is one of Canada’s best cash back credit cards with no limit on the rewards you can earn. It also offers perks like mobile device insurance and travel emergency medical insurance. The only drawback is its high income requirement of $60,000.
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The Scotia Momentum Visa Card pays up to 2% cash back on purchases and is a good choice for balance transfers with an introductory offer of 0% interest on balance transfers for the first six months.
Rewards: Earn 2% cash back when you use your card at grocery stores, gas stations and pharmacies, as well as for recurring payments. All other purchases earn 1% cash back.
Welcome Offer: None.
Annual Fee: $39
Other Benefits and Drawbacks: The Scotia Momentum Visa Card’s introductory balance transfer offer allows you to pay no interest for the first 6 months, but the interest rate jumps to 22.99% after that. Unlike many other cards, the annual fee is not waived in the first year. This card also lacks travel insurance coverage and has very limited benefits other than cash-back rewards.
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The Scotiabank American Express Card offers better rewards than most no-annual- fee credit cards in Canada and offers an eye-catching welcome bonus.
Rewards: Earn 3 Scene+ points per dollar spent at participating grocery stores and 2 Scene+ points per dollar spent on other categories including other grocers, restaurants, food delivery (including meal kits), drinking establishments, entertainment, gas, daily transportation and streaming services. Earn 1 Scene+ point per dollar spent on everything else.
Welcome Offer: Welcome bonus of 7,500 Scene+ points within your first 3 months (that’s up to $75 towards travel). Must open account by July 1, 2024.
Annual Fee: $0
Other Benefits and Drawbacks: In addition to its generous welcome bonus and rewards, The Scotiabank American Express Card comes with more perks than most no-annual-fee credit cards. If you use your card to buy a new mobile device, you’ll automatically get insurance coverage for up to $500. And most purchases are eligible for purchase security and extended warranty protection. The only drawback is that American Express cards aren’t accepted as widely as Visa or Mastercard.
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If your credit is only okay, the Scotiabank SCENE+ Visa card has easier approval criteria than other cards on this list and offers Scene+ rewards on every purchase.
Rewards: Earn 2 Scene+ points per dollar spent at select grocery stores, home buy and Cineplex theatres. Earn 1 Scene+ point per dollar spent everywhere else.
Welcome Offer: Welcome bonus of 7,500 bonus Scene+ points within your first 3 months. Must open account by July 1, 2024.
Annual Fee: $0
Other Benefits and Drawbacks: The Scotiabank SCENE+ Visa Card is more forgiving than most when it comes to credit scores. While you won’t be approved if you’ve had serious credit problems in the past, you may be approved with a credit score in the “fair” range of 560 to 659.
The benefits end there for the Scotiabank SCENE+ Visa Card, which offers little in the way of cardholder benefits and no insurance coverage.
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If you like to be rewarded but can’t stand the notion of an annual fee, the Scotia Momentum No-Fee Visa Card has a generous welcome offer and cash back rewards with a titular no-annual-fee promise.
Rewards: Earn 1% cash back when you use your card at gas stations, grocery stores and drug stores, as well as for recurring payments. Earn 0.5% cash back on all other categories.
Welcome Offer: Welcome bonus of 5% cash back for the first 3 months (up to $2,000 in total purchases).
Annual Fee: $0
Other Benefits and Drawbacks: The Scotia Momentum No-Fee Visa Card makes good on its no-annual-fee promise but offers little else beyond an enticing welcome bonus. There’s no insurance coverage included, and the only additional benefit is a discount on car rentals.
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The Scotia Momentum Mastercard has an introductory interest rate of 7.99% for the first six months making it a good choice for short-term financing, especially if you have a major purchase in mind.
Rewards: Earn 1% cash back at gas stations, pharmacies, grocery stores and on recurring payments. Earn 0.5% cash back on all other purchases.
Welcome Offer: None
Annual Fee: $0
Other Benefits and Drawbacks: The introductory purchase interest rate on the Scotia Momentum Mastercard is 7.99% for the first six months, after which it jumps to 20.99%.The jump makes this card a poor choice if you want to carry a balance on an ongoing basis, but makes sense for an immediate purchase you want a bit of time to pay off. If you’re looking for a credit card to travel with, better options are available as this card has no travel insurance coverage and charges a foreign exchange fee.
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The Scotiabank Platinum American Express Card is a serious card for serious travellers, offering complimentary airport lounge passes and no foreign exchange fee.
Rewards: Earn 2 Scene+ points per dollar spent using the card across all categories.
Welcome Offer: Welcome bonus of 60,000 bonus Scene+ points (get 50,000 points by spending at least $3,000 in your first 3 months and 10,000 Scene+ point bonus when you spend at least $10,000 in your first 14 months). Must open account by October 31, 2024.
Annual Fee: $399
Other Benefits and Drawbacks: One would expect excellent benefits from a card with an annual fee of $399, and the Scotiabank Platinum American Express Card delivers. Travellers benefit from comprehensive insurance coverage, 10 complimentary airport lounge passes per year and an included Hertz Gold Membership, as well as zero foreign transaction fee. The included concierge service is available to help with travel arrangements, reservations, and similar errands. New mobile devices are insured up to $1,000 and American Express perks like Front Of The Line are included. The glaring drawback is this card’s monster annual fee of $399. This fee more than covers the cost of the included airport lounge passes but isn’t worth it if you’re only an occasional traveller.
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If you’re enrolled in post-secondary education, the Scotiabank Scene+ Visa Card for Students can help you establish credit history and earn rewards while you’re at it.
Rewards: Earn 2 Scene+ points per dollar spent responsibly on groceries, including at budget grocer FreshCo, as well as at Cineplex. Earn 1 Scene+ point per dollar spent everywhere else.
Welcome Offer: Earn 1,250 Scene+ points when you make your first purchase.
Annual Fee: $0
Other Benefits and Drawbacks: Student credit cards are a great way to establish a credit history in Canada and the Scotiabank Scene+ Visa Card for Students makes an excellent case for itself. In addition to its generous reward categories, Scene+ rewards points are ideal for students as they can be used for movies, gift cards, bill credits and more.
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Scotiabank Passport Visa Infinite Card earns rewards points at a solid rate, plus offers no foreign exchange fees and other travel perks.
Rewards: Earn 3 Scene+ points per dollar spent at grocery stores owned by Sobeys (including Safeway, Foodland and IGA) as well as 2 Scene+ points for dining and other grocery stores, entertainment (movie, theatre and concert tickets) and transit (rideshares, public transit and taxis).
Welcome Offer: Get 25,000 Scene+ points when you spend at least $1,000 in the first three months and an additional 10,000 points when you spend at least $40,000 in the first year for a total of 35,000 points (a $350 value).
Annual Fee: $150
Other Benefits and Drawbacks: The benefits of this card are plentiful. Aside from rewards, cardholders will get free membership to the Visa Airport Companion program, which includes six complimentary visits to more than 1,200 lounges. There’s also free Avis Preferred Plus membership, which provides you with discounts on car rentals. And there’s a lot of insurance coverage, including travel emergency medical, trip cancellation/interruption, flight delay, lost and delayed baggage, rental car collision loss/damage, hotel/motel burglary and travel accident insurance. Another uncommon perk is that it charges no foreign exchange fees (most cards charge 2.5%). The main drawback to this card is that it requires you to spend more than $40,000 a year in order to get the full value of the welcome bonus. The slightly above-average $150-a-year fee is also worth noting, too.
Credit card research and data analysis conducted by Tia Duncombe, Debra Toews and Jack Choros.
There are many great credit cards available in Canada, and Scotiabank has some great products available. In particular, the Scotiabank Momentum Visa Infinite Card, for instance, is one of the top cash-back credit cards in Canada and the Scotiabank Gold American Express is one of the few cards in Canada to offer no foreign transaction fees.
Scotiabank cards typically offer a solid rate of return on your spending, whether that’s in Scene+ point, which can be redeemed in a variety of ways, or in straight cash back.
Many Scotiabank cards also include travel insurance, ranging from out-of-province emergency medical and travel accident insurance to hotel/motel burglary and lost/delayed baggage. This typically depends on the level of card you’ve chosen or qualified for. Many Scotiabank cards also include consumer protection like mobile device insurance, purchase protection and extended warranty.
With the exception of their premium cards, Scotiabank offers a number of card with no annual fee. In fact, there are six on this list. Even many of their cards with annual fees tend not to exceed $120 per year.
There are different income requirements for different Scotiabank cards, some as low as $12,000 per year.
There are a number of Scotiabank cards that currently don’t offer a welcome bonus. That said, there are plenty that do, so it depends on when you apply and what card you are aiming to get.
The standard interest rate on a Scotiabank card hovers around 19.99% and 20.99%. There are a select number of cards with low interest rates, though.
If you want to apply for a Scotiabank credit card, you’ll have to meet the same requirements as basically any other credit card.
Age: You’ll need to be the age of majority in your province or territory and a resident of Canada.
Credit Score: Most Scotiabank cards need you to have a “good” credit score of at least 660. However, they have a card on offer that requires a “fair” score of 560 to 659. Its premium cards may require a higher score, closer to 700.
Income: You’ll need to provide proof of income, as well as your employment history. This could include:
Each credit card has its own minimum income requirement. For example, while the Scotiabank Passport Visa Infinite card and the Scotia Momentum Visa Infinite card both have posted minimum income requirements of $60,000 ($100,000 for a household), other cards have much lower thresholds.
Personal Information: Your credit card application will involve providing additional information, including your name, birthday, social insurance number and your address.
If you’re looking for an easy way to earn cash back, or want to earn Scene+ points, a Scotiabank credit card can be a good option. Also, if you already bank with Scotiabank and would like to keep your financial products in one place, it makes sense to get a Scotiabank credit card.
Scene+ Rewards. These points can be collected at Sobeys-owned grocery stores and through various other partners and can be redeemed for anything from free movie tickets to discounts at restaurants and at events, along with free flights and hotel stays.
Travel. These cards may be in the Scene+ program and you may be able to use your Scene+ points for flights through the program’s affiliation with Expedia, but they also have other travel-related benefits like travel insurance, no foreign transaction fees, rental car insurance and access to airport lounges.
Cash back. Mostly tied to Scotiabank’s Momentum line of credit cards, these cards give you a percentage of your purchases back in the form of statement credit or a cash deposit into a Scotiabank bank account held by the primary cardholder.
Student. These are credit cards that require no credit score or credit history to qualify for, but they do require you be enrolled in a post-secondary institution. They are meant to help students start their credit journey and establish credit for the rest of their lives.
Newcomer. Just like the credit cards available for students, there are also cards offered by Scotiabank to newcomers to Canada to help them establish a credit history and a credit score in Canada without huge barriers for entry.
Low interest. These are cards that have low interest rates on purchases, cash advances or balance transfers either for a permanent or promotional length of time.
U.S. Dollar. These are cards that must be paid back in U.S. dollars and the balance available presents in U.S. dollars. They are best for people who do business in or travel to the U.S. quite often.
Business. These cards are meant for entrepreneurs or corporate employees to cover business expenses. Some business cards even offer rewards for your business spending, giving points or cash back for recurring bill purchases, office supplies and travel.
When looking for the best Scotiabank credit card to suit your spending and lifestyle, you should consider the following for comparison.
Scotiabank offers both cash back and rewards through its Momentum Line of cards for cash back and its Scene+ Rewards for reward points. The cash back offering is fairly straightforward, but Scene+ Rewards provide a different value depending on what you are redeeming for. The value of Scene+ Rewards breaks down according to the chart below.
The Scotiabank Gold American Express card tops this list as the best Scotiabank card in Canada. It ranks consistently as one of the best rewards cards in Canada and earns generous amounts of Scene+ points on all purchases. However, if you prefer cash to points, go with the Scotiabank Momentum Visa Infinite, which also has plenty of perks and offers cash back.
The Scotiabank SCENE Visa Card has the lowest credit score requirement and you may be approved with a “fair” credit rating of 560 to 659.
The Scotiabank Platinum American Express Card is Scotiabank’s most prestigious offer, catering to frequent travellers with high income, excellent credit and who are willing to pay the $399 annual fee.
Most Scotiabank credit cards require a “good” credit score of at least 660. Scotiabank’s premium cards, like the Scotia Momentum Visa Infinite Card, may require a score closer to 700.
Scotiabank doesn’t display the maximum credit amount you can get on a credit card with them. However, they do offer personal lines of credit up to $75,000.
Scotia Rewards and Scene+ points are the same thing. However, Scene+ replaced the now defunct Scotia Rewards in 2021. With this change, Scotia Rewards were transferred to Scene+ points at a 1:1 ratio.
You can call your issuer to see if they will waive your annual fee. There are also a number of cards on this list that waive the fee the first year and plenty of no-annual-fee credit cards on this list, as well.
Scotiabank’s StartRight Program aims to help newcomers to Canada who may have a difficult time getting a credit card or other loans due to their lack of Canadian credit history. This program offers those new to Canada a variety of credit cards, some of which offer a $15,000 credit limit with no credit history required.
You can request an increase in your credit card limit online by selecting “Increase Your Credit Card” under “Additional Services” on the credit card in question. You will typically need to confirm your income, and then the bank will perform a hard credit check to confirm your eligibility. You can also call the bank or visit a branch.
If you have a positive payment history, Scotiabank may offer to extend your credit limit. In this case, the bank does not do a hard credit check.
It may be possible to get two Scotiabank credit cards, especially if they serve different purposes, such as offering different rewards or if one is a personal account and the other a business credit card. However, keep in mind that banks have a low tolerance for credit card churning, or opening a new account just for the welcome bonus, and may decline a second card and/or withhold the welcome bonus.
