- 6x at Sobeys-family stores; 5x at other grocery stores, restaurants and entertainment; 3x on gas, transit and streaming; 1x on the rest
- No foreign transaction fee
- $120 a year
Scotiabank Gold American Express Review: Grocery Points With No Foreign Transaction Fee
Up to 6x Scene+ points on groceries, 5x on dining and entertainment, 3x on gas and transit, and no 2.5% charge on purchases in a foreign currency, for $120 a year. One of the few Canadian cards that earns well at home and costs nothing extra abroad.
01Who It Suits
The Scotiabank Gold American Express pays 6x Scene+ points at Sobeys, IGA, Safeway, FreshCo, Foodland, Thrifty Foods, Voila, Co-op and the chain's other banners, 5x at other grocery stores, restaurants, food delivery and on movies, theatre and tickets, and 3x on gas, transit, ride share and select streaming. Those rates cover the first $50,000 of spending in them each calendar year, which few households reach.
It is also one of the few Canadian cards with no foreign transaction fee: purchases in another currency are converted at the exchange rate without the usual 2.5%. That makes it worth carrying abroad as well as at the grocery store, wherever American Express is taken. Scene+ points are worth 1 cent off groceries at partner stores or off travel, but less as an account credit, so the card pays best for people who shop where Scene+ can be spent.
02Rewards and Costs
| Points | 6x at Sobeys-family stores (Sobeys, IGA, Safeway, Foodland, FreshCo, Voila, Thrifty Foods, Les Marches Tradition, Rachelle Bery, Co-op); 5x at other grocery stores, on dining, food delivery and entertainment; 3x on gas, transit, ride share and select streaming; 1x on everything else; up to 4x on hotels and car rentals booked through Scene+ Travel. The 6x, 5x and 3x rates apply to the first $50,000 of those purchases each calendar year, then 1x |
| Welcome offer | 40,000 bonus Scene+ points after $2,000 in purchases in the first 3 months and 25,000 more after $7,500 in the first 12 months, for accounts opened from November 2, 2026 to January 3, 2027; not open to anyone who held a Scotiabank personal credit card in the last 2 years |
| Annual fee | $120; $29 for each extra card. Scotiabank's Ultimate Package rebates up to $150 of it each year, but the package costs $30.95 a month unless you keep $6,000 in it every day of the month or hold $100,000 across eligible Scotiabank accounts, so it only saves money if you would meet one of those anyway. Since June 22, 2026 the Preferred Package gives a $40 rebate instead, from the first anniversary, in years with at least $15,000 of purchases on the card; it does not cover the first year |
| Eligibility | A minimum personal income of $12,000 a year; credit limit of at least $5,000 |
| Interest | 21.99% on purchases; 22.99% on cash advances and balance transfers |
| Purchases abroad | No foreign transaction fee; purchases in a foreign currency earn 1x |
| Redeeming | 1,000 points = $10 off eligible groceries or travel; 3,000 points = a $20 account credit (about 0.67 cents a point); also Cineplex, Home Hardware and other Scene+ partners |
| Insurance | Travel emergency medical up to $1 million for 25 days (under 65; 3 days at 65 and over); trip cancellation and interruption up to $1,500 a person and $10,000 a trip, when at least 75% of the trip is charged to the card; flight delay up to $500 when at least 75% of the ticket is charged; delayed or lost baggage up to $1,000 when the full ticket is charged; rental car collision and loss when the full rental is charged and the rental company's cover is declined; hotel burglary up to $1,000; mobile device up to $1,000; purchase security for 90 days and extended warranty. Every condition is in the certificate of insurance |
| Extras | Priority Pass discount; Avis and Budget discounts; Shell fuel discounts with a linked Shell Go+ account; Amex Experiences |
From Scotiabank's own pages, checked November 14, 2026. Offers and rates can change; Scotiabank's page has the current terms.
03On Your Spending
Put in what you spend in a normal month and choose how you would use the points. The calculator counts each card's points, its caps, its fees and what it charges on purchases in a foreign currency, then puts a dollar value on the points the way you would redeem them.
| Card, on the same spending | Points a year | Normal year, after fees | First year, with the welcome offer |
|---|
Figures assume you pay the full balance every month; interest is not counted. Rates are for purchases in Canada. Welcome offers are counted as if all your card spending, purchases in a foreign currency included, were spread evenly through the year: Cobalt's needs $750 of purchases in every billing month and Scotiabank's $2,000 in the first 3 months and $7,500 in the first 12. A year with a few big months and many small ones can earn less than shown; if your spending is lumpy, untick the offer and count only the months you know you will reach. Over a cap, the capped amount is shared across its categories in proportion to spending. Hotel and car bookings through Scene+ Travel (up to 4x) and Amex Travel Online (an extra 1x) are left out, as are both cards' insurance and perks. Both are American Express cards: spending at stores that do not take Amex goes on another card and does not belong here.
04What the Headline Leaves Out
- The welcome offer has an end date: accounts opened after January 3, 2027 get whatever Scotiabank offers then.
- Scene+ points are worth 1 cent off groceries and travel but about two-thirds of a cent as an account credit (3,000 points for $20).
- It is an American Express card: Costco takes only Mastercard in Canada, and some grocery chains do not take Amex.
- The $120 fee is charged in the first year unless you have a Scotiabank Ultimate Package; the Preferred Package's $40 rebate starts only from the first anniversary. Both packages carry their own monthly fees unless you keep the required balances.
- Anyone who held a Scotiabank personal credit card in the last two years cannot get the welcome offer.
05The Closest Alternative
American Express Cobalt Card
The American Express Cobalt Card pays the same 5x at most grocery stores and restaurants, less elsewhere, and costs $191.88 a year, with free extra cards. Its Membership Rewards points are worth 1 cent against any purchase and can be moved to Aeroplan and other airlines, so it pays more if you would otherwise take Scene+ as account credits.
On the example budget, after fees: Amex Cobalt $522 a year; Scotia Gold Amex $718 with its points on groceries or travel, $439 with its points as account credits. Both cards side by side: Canadian credit cards.
06Questions
Is the Scotiabank Gold American Express worth $120 a year?
For most households that spend on groceries, dining or travel and will use Scene+ points on groceries or travel, yes. A household spending $1,000 a month on groceries and dining earns at least 5x on it, about $600 a year in points at 1 cent each, before counting gas, transit and purchases abroad with no foreign transaction fee. Taken as account credits the same points are worth about two-thirds as much.
Does the Scotiabank Gold American Express have a foreign transaction fee?
No. Scotiabank converts purchases in a foreign currency at the exchange rate without the usual 2.5% markup. Those purchases earn 1 Scene+ point a dollar.
Which grocery stores earn 6x Scene+ points?
Sobeys, IGA, Safeway, Foodland, FreshCo, Voila, Thrifty Foods, IGA West, Les Marches Tradition, Rachelle Bery and Co-op locations. Other grocery stores earn 5x.
What income do you need for the Scotiabank Gold American Express?
Scotiabank asks for a minimum personal income of $12,000 a year.
Is there a cap on Scene+ points?
The 6x, 5x and 3x rates apply to the first $50,000 a calendar year spent in those categories; after that they earn 1 point a dollar until January 1.
07Sources and Changes
- Scotiabank, Scotiabank Gold American Express Card (points, caps, fees, offer and dates, income requirement, interest, redemption values, insurance), checked November 14, 2026.
- Scotiabank, certificate of insurance, the Ultimate Package and the Preferred Package (monthly fees, balance waivers, card fee rebates), checked November 14, 2026.
- Milesopedia, which Canadian grocery chains take American Express, updated November 7, 2026.
Published November 14, 2026; verdicts rewritten the same day to follow the calculator's results for each way of using the points. Card terms are checked against Scotiabank's page every week; changes to figures are listed in this page's Corrections and Updates.
Corrections and Updates
| Date | What changed |
|---|---|
| November 15, 2026 | Corrected: the Preferred Package no longer waives the first-year fee. Since June 22, 2026 it gives a $40 annual fee rebate from the first anniversary, in years with at least $15,000 of purchases on the card. Added the Ultimate Package's $100,000 relationship-balance waiver. The verdict now applies to the example budget and points heavy spenders to the cards' different caps. |
| November 15, 2026 | Verdict now depends on how Scene+ points are used (groceries or travel at 1 cent, account credits at about 0.67 cents). Added the $12,000 minimum personal income, the Ultimate Package's own $30.95 monthly fee and $6,000 balance waiver, the conditions on the travel insurance (75% of the trip charged) and a link to the certificate of insurance. |
Every correction to a published figure on this site is logged on Sources and Methods.
Cite This Page
This page is free to cite and link. Its figures come from American Express Canada and Scotiabank card pages and terms; Milesopedia for transfer partners and which stores take Amex and are kept current, so please include the date you accessed it.
| Format | Citation | Copy |
|---|---|---|
| Plain | Dave Manuel, “Scotiabank Gold American Express Review: Grocery Points With No Foreign Transaction Fee,” DaveManuel.com, updated November 15, 2026, https://www.davemanuel.com/money/ca/credit-cards/scotiabank-gold-amex/ (accessed November 15, 2026). | Copy |
| APA | Manuel, D. (2026). Scotiabank Gold American Express Review: Grocery Points With No Foreign Transaction Fee. DaveManuel.com. Retrieved November 15, 2026, from https://www.davemanuel.com/money/ca/credit-cards/scotiabank-gold-amex/ | Copy |
| Chicago | Manuel, Dave. “Scotiabank Gold American Express Review: Grocery Points With No Foreign Transaction Fee.” DaveManuel.com. Accessed November 15, 2026. https://www.davemanuel.com/money/ca/credit-cards/scotiabank-gold-amex/. | Copy |
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Source data: American Express Canada and Scotiabank card pages and terms; Milesopedia for transfer partners and which stores take Amex. Updates: Weekly (card terms and offers). Page last updated November 15, 2026. How we build our data pages.