New Scotiabank Credit Card Offers for Spring 2021

With travel on the horizon again as the COVID-19 vaccine slowly but surely gets distributed, travel credit cards are catching that wave of excitement and starting to offer bigger and better welcome bonuses.

Between the Aeroplan relaunch, WestJet matching their competitor, and the ever-present Amex Offers, (almost) the whole industry is trending up and looking for new customers to apply for credit cards.

Now Scotiabank has entered the fray, with improved offers on their core credit cards:

In This Post

Scotiabank Gold American Express Card: 40,000 Points

The Scotiabank Gold American Express Card is offering up to 40,000 points for new applicants, broken down as follows:

  • Earn 30,000 Scotia Rewards points when you spend $1,000 in the first three months after opening the credit card
  • Earn an additional 10,000 Scotia Rewards points when you spend $7,500 in the first year with the credit card

I remember when Scotiabank tweaked the category earn rates on this card, and heavily promoted a signup bonus totalling 30,000 points to celebrate the rebranding. Needless to say, this new offer blows the old one out of the water, setting a new standard by which we’ll compare this card.

Scotiabank typically has very achievable spending requirements: only $1,000 for the bulk of the bonus. But even $7,500 to earn an additional bonus component is lower than we’ve seen on other cards.

Consider that the industry standard to earn an anniversary bonus is usually $10,000. Or look at CIBC’s current offers, which stipulate a high monthly spend for the entire first year to unlock the full bonus. I much prefer not only a lower spend, but the flexibility to hit that target whenever I want.

Even if you don’t go for the full bonus, 30,000 points is still an improvement over the previous offer of 25,000 points or the standard offer of 20,000 points.

However, if you spend a lot on the card’s bonus categories, I’d say it’s well worth going for the second spend threshold. The Scotia Gold Amex earns 5 points per dollar spent on groceries. For $7,500 spent at the proper merchants, you’d earn up to 37,500 points on everyday spending, in addition to the full 40,000 points with the signup offer!

In case you spend in other categories, you might earn a bit less, but the rewards can still be quite plentiful:

  • 5 Scotia Rewards points per dollar spent on groceries, dining (including restaurants, bars, and delivery), and entertainment tickets
  • 3 Scotia Rewards points per dollar spent on gas, transit, and streaming services
  • 1 Scotia Rewards point per dollar spent on everything else

The card does have a $120 annual fee, which is not waived for the first year. Instead, you can have the annual fee rebated if you have a premium Scotiabank chequing account

With the 40,000 Scotia Rewards points valued at a fixed 1 cent per point (cpp) and easily redeemable against any travel expense, you’re looking at a net gain of at least $280 here.

As before, the card has no foreign transaction fees – always a nice touch on a lifestyle card marketed to travellers. And although the card isn’t issued by American Express (it merely runs on the Amex payment network), it’s still eligible for Amex benefits like Front of the Line event tickets, or offers and credits for cardholders including Shop Small.

This offer is available until August 31, 2021, so you have lots of time to decide if you’re interested, or where this card will fit into your big-picture strategy.

Scotiabank Passport Visa Infinite: 30,000 Points

The new offer on the Scotiabank Passport Visa Infinite Card has also improved. You’ll earn 30,000 Scotia Rewards points when you spend $1,000 in the first three months after opening the credit card.

This bonus is up from 20,000 points previously, bringing the offer back to its all-time high.

(You can also earn an additional 10,000 Scotia Rewards points when you spend $40,000 per year. Unfortunately, this is a prohibitively steep threshold. With a return on spend of just 0.25% on this component, you’d be much better off putting that spend on other cards.)

Everyday earn rates aren’t as strong as the Scotia Gold Amex, so I prefer this card for the welcome bonus rather than for ongoing spending. Still, you may benefit if you shop at merchants that don’t take American Express cards:

  • 2 Scotia Rewards points per dollar spent on groceries, dining, entertainment, and transit
  • 1 Scotia Rewards point per dollar spent on anything else

The card has an annual fee of $139, rebated in the same ways as the Scotia Gold Amex card via premium chequing. With the fixed 1cpp redemption rate, you’re looking at a net gain of at least $161.

As always, the card has no foreign transaction fees. It also offers a Priority Pass membership with six annual free lounge visits, a nice perk that’s usually only seen at the higher Visa Infinite Privilege tier. And unlike the membership that comes with cards issued by American Express, these vouchers allow you to visit Priority Pass restaurants as well.

This offer ends sooner than Scotia Gold Amex offer: July 1, 2021. You’ll still have a while to hem and haw over which you’d prefer, or if you have room in your wallet for both!

Scotiabank Momentum Visa Infinite: $200 + First Year Free

The Scotiabank Momentum Visa Infinite Card remains unchanged. New cardholders will earn 10% cash back on purchases made in the first three months after opening the credit card, up to a maximum of $2,000 spent.

The card is also maintaining the first-year annual fee waiver, making the overall offer worth an easy $200. 

In this case, a lack of change is good. This offer was already at its all-time high, equal to the industry standard on all Visa Infinite cash back cards. The deadline for this bonus has been extended to August 31, 2021, but I wouldn’t be surprised to see it get extended again.

As a reminder, here are the card’s regular earning rates:

  • 4% cash back on groceries and recurring payments
  • 2% cash back on gas and transit
  • 1% cash back on everything else

Also, before you panic about where your rewards have gone, remember that Scotiabank distributes the welcome bonus cash back separately from regular rewards. 

For example, if all of your purchases during the welcome bonus period are made at grocery stores, here’s how you’d receive your rewards:

  • 4% regular cash back awarded on the normal schedule, immediately or on your next statement
  • 6% promotional cash back awarded within seven months

Cash back rewards are accumulated for 12 months starting from your December statement, and issued as a credit on your November statement each year.

Therefore, if you don’t plan on holding this card long-term, now is actually the best time of year to apply. If you hit the maximum welcome bonus spend before the end of April, you’ll have seven months for the bonus cash back to marinate and be paid out before the second-year annual fee hits.

If you do choose to keep the card into its second year, the annual fee is $120, and can be rebated in the same ways as Scotiabank’s other credit cards.


In the wake of a season of strong offers from their competitors, Scotiabank has come to play for this cycle. Any of these offers would be very appealing if they fit your rewards goals.

The Scotiabank Momentum Visa Infinite Card is maintaining its all-time high, the Scotiabank Passport Visa Infinite Card is returning to its all-time high, and the Scotiabank Gold American Express Card is setting a new all-time high! I can’t think of a better time to get started with Scotiabank if you haven’t already.

Scotiabank is known for having low minimum spend requirements compared to the size of the bonuses. If you’re a low spender, these offers are a great way to maximize your return on spend and earn flexible travel rewards more quickly.

If your income is lower, definitely consider the Scotiabank Gold American Express Card first, as it has a much lower minimum income requirement than the Visa Infinite cards. In any event, I’d say it’s the best of the bunch.

If you’re interested in these cards, consider supporting the Prince of Travel website by applying through any of our affiliate links below: 

Alternatively, you may also consult the various cash back websites out there to see if any of their offers pique your interest.

  1. Avatar

    FYI the annual fee for seniors for the Scotiabank gold AE is $79.00.

  2. Avatar
    Mohammad Khan

    Scotia Amex’s have been eligible for Shop Small promo’s in the past?? Are we sure about that? I had no idea

    1. Avatar

      There are a lot of offers its eligible for. It’s a good idea to keep checking.

    2. Josh

      You have to register manually, and not all Amex Offers work, but yes!

  3. Avatar

    GCR makes these offers so much more attractive too. No need to get the premium cheqing account.

  4. Avatar

    In the legal footnotes, it mentions that “Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank retail credit card in the past 2 years … are not eligible for the Offer.” Anyone knows how strict is this policy being implemented?

    1. Avatar

      As strict as typical verbiage for ccs.

  5. Avatar

    What about gcr?

    1. Avatar

      My thinking is that most, perhaps even all, the people visiting this site, know about GCR. Since this site, which you now visited, is a business needing to make money, they have every right to put in their links and ignore other channels. Can’t remember every seeing an ad for The Bay saying you can find the product cheaper at Walmart.


Your email address will not be published. Required fields are marked *

Have an Account? Click here to Login