ScotiabankGold

3751 008987 86959

VALID THRU 07/31SAM RIVERA

brown wallet — Photo: Stephen Phillips - Hostreviews.co.uk / Unsplash

Rewards Cards · Canada

Scotiabank Gold American Express Card

4.6 / 5 editorial rating

Best for: Diners and grocery shoppers who also spend abroad

Reviewed by the CreditCardCompare editorial team · Fees and rates checked September 2026 — confirm on the issuer's site before you apply

Annual feeC$120/yr

IssuerScotiabank

NetworkAmex

Purchase APR21.99% on purchases (see Sco…

Foreign transaction fee0% on foreign currency purch…

Credit neededGood to excellent credit

Pros

Top-tier earn rate on food and entertainment spending
Skipping the FX fee is an uncommon perk for travellers
Comes with solid insurance coverage

Cons

Carries an annual fee
Amex is accepted at fewer places than Visa or Mastercard
Approval depends on meeting an income threshold

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Rates and offers change. Confirm today's terms on the issuer's official site before applying. Independent comparison — not financial advice.

Our take on the Scotiabank Gold American Express Card

The Scotiabank Gold American Express is the best choice for a Canadian who spends heavily on groceries, dining and entertainment and also spends in other currencies, because it pairs 5x Scene+ points on those categories with no foreign transaction fee, as of September 2026. Shopping at Sobeys, Safeway, FreshCo and other stores in that family earns 6x.

The accelerated rates apply to the first $50,000 in purchases each year, a generous ceiling for most households. At a conservative 1 cent per Scene+ point, 5x is 5% back, so the $120 fee is covered by about $250 a month in the 5x categories compared with a 1% card. Scotiabank also waives the fee with some of its bank accounts, which settles the question for existing clients.

The missing foreign exchange markup matters most to people who shop online in U.S. dollars or travel several times a year: on $5,000 of foreign purchases, avoiding a 2.5% fee saves $125. The main drawback is that American Express is still refused at some Canadian merchants. The $12,000 minimum income makes it one of the easier premium rewards cards to qualify for.

Good fit if

You spend $800 or more a month on groceries, restaurants and entertainment combined
You shop at Sobeys, Safeway, FreshCo or related stores
You buy in U.S. dollars online or travel abroad several times a year

Skip it if

Your usual grocery store or other key merchants don't take American Express
You want cash back rather than points

Worked example

Suppose you spend $500 a month at Sobeys, $400 on restaurants and entertainment, $150 on gas and transit, and $700 on everything else. Sobeys earns 36,000 points a year at 6x; restaurants and entertainment earn 24,000 at 5x; gas and transit earn 5,400 at 3x; other spending earns 8,400. That is 73,800 Scene+ points, worth $738 at a conservative 1 cent each. After the $120 fee you keep $618, and total spending of $21,000 stays well under the $50,000 cap.

How it stacks up

The American Express Cobalt Card earns 5x on restaurants and groceries too, but its monthly fee totals $155.88 a year, so the Scotiabank card is cheaper and better for travellers. If you want Visa acceptance with no foreign transaction fee, the Scotiabank Passport Visa Infinite+ earns Scene+ as well, at lower rates of 3x at Sobeys-family stores and 2x on dining.

This is the card to beat for Canadians who eat out, buy groceries and travel, because the 0% foreign transaction fee is rare and the 5x on food categories is genuinely strong. On CAD 12,000 of grocery and dining spend that's 60,000 Scene+ points a year, and the no-FX-fee perk alone can save you the CAD 120 fee if you spend a few thousand abroad. The catch is Amex acceptance, which is thinner than Visa at smaller Canadian merchants, so keep a backup; verify the earn caps and fee on Scotiabank's site.