Scotiabank Platinum American Express credit card stands up to its premium card tag, with up to 60,000 bonus Scene+ points for new cardmembers. The core benefits of the card include a flat 2x earn rate on ALL purchases (including foreign transactions, no limits), no foreign transaction fees (typically 2.5%), and an impressive 10 free lounge visits with Priority Pass membership, including Plaza Premium lounges around the world.

The 60,000 bonus applies to new accounts opened by October 31, 2022, and is split in two portions – cardmembers get 50,000 Scene+ points with the first $3,000 spend in everyday eligible purchases within the first 3 months. An additional 10,000 Scene+ points for $10,000 spend in everyday eligible purchases on the account in first 14 months of cardmembership.

These benefits combined with the ease of redeeming Scene+ points, the card can yield a potential value of $2000+ in a 14 month period. Let’s look at the core features, followed by the valuation of the benefits;

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Scotiabank Platinum American Express

Scotiabank Platinum American Express

  • Annual Fee:
    • Primary Card: $399/year
    • Supplementary Card: $99/year
  • Welcome Bonus:
    • 60,000 bonus Scene+ points (Apply by Oct 31, 2022);
      • 50,000 bonus Scene+ points by making at least $3,000 in everyday eligible purchases in your first 3 months
      • 10,000 Scene+ point bonus when you spend at least $10,000 in everyday eligible purchases in your first 14 months
  • Earning Rate:
    • 2X Scene+ points for every $1 spent on ALL eligible purchases
  • Other Key Benefits:
    • No FX mark up: Foreign Currency Conversion Fee of 0%
    • Airport Lounge Access – Priority Pass™ and Plaza Premium lounges
      • Primary cardholders get 10 free visits per year from the date of enrolment
      • Supplementry cardholders get 4 free visits per year from the date of enrolment
    • Comprehensive Travel and shopping Insurance coverage
      • Travel Emergency Medical Insurance
      • Trip Cancellation / Trip Interruption Insurance
      • Flight Delay Insurance
      • Rental Car Collision Loss/Damage Insurance
      • Delayed and Lost Baggage Insurance
      • Travel Accident Insurance
      • Hotel/Motel Burglary Insurance
      • Mobile Device Insurance
      • Purchase Security & Extended Warranty Protection
  • Redeeming Scene+ points
    • Book directly through Scene+ Travel Service (full-service travel agency): 1 cent a piece, 10,000 points for $100 and so on..
    • Book with ANY Travel Provider:  Apply points at 1 cent a piece (10,000 points = $100)
    • Redeem as Statement Credit: Redemption value can range from 0.6-0.8 cents per point
    • Redeem for gift cards, prepaid cards or other merchandise

Detailed list of benefits and perks of the card are listed here

Valuation of card features and benefits

Assuming a nominal monthly spend of $2500 on the Scotiabank Platinum Amex card, in 14 months the card earns a whopping 130,000 points, or $1300 CAD in travel redemption;

    • 2X earn: 70,000 points (5000 points each month)
    • Welcome Bonus: 60,000 points

The Annual Priority Pass membership costs USD 299 or $391 CAD, and is a primary benefit of the card, which yields a total of $1691 CAD in overall value.

Take Away

One of the strongest features of Scene+ points is the ability to book travel with any provider, and apply points towards that expense (1000 points = $1). Scotiabank Platinum American Express cardmembers can easily leverage $2000 or more in travel value from this card, annually. The historic high bonus of 60,000 points, with an impressive lounge access program, and insurance coverage – the $399 annual fee is well accounted for. Make sure to apply by October 31, 2022 to leverage the full potential the card.