The review by Jerry is incorrect. This card is NOT affiliated with Scotiabank and there is no need to phone Scotiabank. I give this card four stars because if its very good earning ratio, and the flexibility of its rewards plan--Aeroplan or Avios miles at 1:1, other frequent flyer plans at lower ratios, or cash toward travel on any flight. The 25,000 point sign-up bonus and waiver of fee in the first year are what convinced me to sign up. I give this card 4 stars rather than 5 because it lacks trip cancellation insurance.
I suspect Jerry has the Scotiabank Gold American Express card, another very good card which DOES have trip cancellation insurance. With the Scotiabank card (I also have it), it is NOT necessary to phone Scotiabank to redeem points. You can book travel however you want and "apply points to travel" on the web site afterwards for reimbursement. On the other hand Jerry might have the Scotiagold Passport Visa, which does have the shortcoming he described.
|Annual Percentage Rate|
|Balance Transfer APR||N/A|
|Cash Advance APR||N/A|
|Annual Fee||No annual fee for the first year. A value of $150|
|Cash Advance Fee||N/A|
|Dishonored Cheque Fee||$25 each|
|Over the Credit Limit Fee||N/A|
|Foreign Transaction Fee||Charges in a currency other than Canadian dollars will be converted into Canadian dollars on the date we process the charge. If the charge is not in U.S. dollars, it will first be converted to U.S. dollars and then into Canadian dollars. If the charge is in U.S. dollars, it will be converted directly into Canadian dollars. Conversion rates are based on interbank rates selected from customary industry sources on the business day prior to the processing date, increased by a single conversion commission of 2.5% of each charge.|
|Rewards Type||Membership Rewards points|
|Issuer||Amex Bank of Canada|
|Network||American Express Canada|