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Updated: January 05, 2024

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Quick overview

If you fancy yourself a jet setter who enjoys the finer things in life, the Scotiabank Platinum American Express Card might be the choice for you. With it, you get extensive travel insurance and don’t have to pay foreign exchange fees. And, the best part, in this humble writer’s opinion? Access to over 1,200 Priority Pass and Plaza Premium airport lounges with 10 free visits a year (which is more than the standard four to six free passes most other cards provide). Rounding out the premium services are access to a concierge and exclusive access to events. You’ll also earn two Scene+ points on every dollar spent, which you can redeem for travel, dining and more. That’s a lot of value packed into one tiny credit card.

However, it’s not all jet planes and caviar. The $399 annual fee will turn off many would-be globetrotters. If you don't travel often or spend enough to take full advantage of the rewards, this fee might not outweigh the benefits. Also, keep in mind that American Express isn't accepted everywhere, especially outside major urban areas. Still, if you're looking to make use of the card’s premium travel perks and can justify the fee, it's a great choice.

Compare Scotiabank American Express credit cards

Scotiabank American Express credit cards Scotiabank American Express® Card Scotiabank Gold American Express® Card Scotiabank Platinum American Express Card
Card Scotiabank American Express® Card Scotiabank Gold American Express® Card Scotiabank Platinum American Express Card
Annual fee $0 $120 $399
Welcome bonus Earn up to 7,000 bonus Scene+ points within your first year (that’s up to $70 towards travel). Earn up to $650* in value in the first 12 months, including up to 40,000 bonus Scene+ points. Earn 20,000 bonus Scene+ points by making at least $1,000 in everyday eligible purchases in your first 3 months. Earn a 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year. Earn up to $2,100 in value in the first 14 months, including up to 60,000 bonus Scene+ points.
Earn rate 3 Scene+ points per $1 at Sobeys, Safeway, FreshCo, and more; 2 Scene+ points for every $1 you spend on restaurants, fast food, bars, "other" grocery stores, food delivery & subscriptions, eligible entertainment from movies and theatres to ticket agencies, gas and transit, and select streaming services. 6X Scene+ points for each $1 charged to your account on all eligible purchases at partner grocery stores; 5X Scene+ points points for every $1 spent on other eligible grocery, dining and entertainment purchases; 3X Scene+ points for every $1 CAD spent on eligible gas, daily transit and select streaming services; 1X Scene+ point for every $1 spent on every other purchase. 2X the Scene+ points for every $1 spent on all eligible purchases; 3 Scene+ points per $1 spent on hotel and car rental bookings through Scene+ Travel.
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Read more: Best Scotiabank credit cards

Who is this card for?

This card is designed for you, the frequent traveler who indulges in luxury while seeing the world. If you're jet-setting across borders regularly, you'll benefit from the waived foreign transaction fees and the comfort of over 1,200 VIP airport lounges. The comprehensive travel insurance adds a layer of security to your adventures. You're the type who will make the most of the Scene+ points, racking them up with your travel and everyday purchases, and redeeming them for more travel, dining out, or entertainment experiences.

If your calendar is marked with frequent international trips and you enjoy the exclusivity of premium services, this card is tailored for you. It's for the discerning spender who sees the annual fee as an investment into a lifestyle of convenience and luxury, ensuring each dollar spent brings you closer to your next getaway or experience. However, if your travels are infrequent or you're more conservative with your spending, you might find a better fit with a lower fee card.

Scotiabank Platinum American Express Card pros and cons

Pros

Pros

  • The card offers a competitive low interest rate on purchases, cash advances, and balance transfers

  • Comprehensive insurance coverage

  • Complimentary Airport lounge access

  • No foreign transaction fees

  • Ideal for travelers as it has no foreign transaction fees

  • Offers a substantial welcome bonus that can be worth up to 60,000 Scene+ points

  • Enjoy premium perks like Hertz #1 Club Gold membership and concierge services.

Cons

Cons

  • High annual fee: At $399, the annual fee is steep, which could offset the rewards and benefits for some cardholders

  • Below average rewards rate: Lower compared to other cards with similar or lower annual fees

  • Limited American Express acceptance: Especially outside major cities

  • Rewards potential: The net rewards potential is relatively low when considering the high annual fee

  • Non-transferable points: Scene+ points cannot be transferred to other rewards programs

Welcome bonus

  • Earn up to $2,100 in value in the first 14 months, including up to 60,000 bonus Scene+ points. Offer valid November 1, 2023 - October 31, 2024.

How to earn points

  • Earn 2X the Scene+ points for every $1 spent on all eligible purchases.
  • No maximum earning cap mentioned for the 2X points on purchases.
  • Earn three Scene+ points per Canadian dollar spent on hotel and car rental bookings through Scene+ Travel.

Key benefits

  • No foreign transaction fees on any foreign currency purchases, including online shopping and when traveling abroad.
  • 10 complimentary airport lounge passes per year.
  • Access to Scene+ Travel for booking and redeeming travel with no restrictions.
  • Premium concierge services for various personal assistance tasks.

Insurance coverage

  • Travel emergency medical insurance: 31 days of coverage for those under 65, and 10 days for 65 and over up to $2 million per insured person per trip.
  • Travel accident insurance: Up to $500,000 per insured person, $1,000,000 per occurrence.
  • Trip cancellation: $2,500 per insurance person, maximum $10,000 per trip.
  • Trip interruption: $5,000 per insurance person, maximum, $25,000 per trip.
  • Lost/delayed luggage insurance: Up to $1,000 per trip.
  • Hotel/motel burglary insurance: Up to $1,000 per burglary occurrence.
  • Rental car insurance: 48 days for vehicles up to $65,000.
  • Purchase security insurance: Up to 120 days post purchase, maximum $60,000 lifetime. 
  • Extended warranty insurance: Up to 2 years, maximum $60,000 lifetime
  • Flight delay: Up to $1,000 per insured person per trip for eligible expenses.
  • Purchase security: Coverage for 120 days from the date of purchase, up to $60,000 per lifetime.
  • Mobile device: Up to $1,000 coverage for new mobile devices against loss, theft, accidental damage, or mechanical failure.

Extras

  • Access to exclusive American Express offers and invites.
  • Access to VIP events.
  • Hertz #1 Club Gold Membership.

How this card compares

Scotiabank Platinum American Express Card vs. The Platinum Card by American Express

The Scotiabank option has a lower annual fee of $399 compared to $799 for the Amex Platinum. While both cards offer generous welcome bonuses, the Amex Platinum's 100,000 Membership Rewards points surpass the 60,000 points offered by Scotiabank, albeit with a higher spending requirement to unlock the full bonus.

In terms of earning points, the Scotiabank card provides a flat rate of two points per $1 spent on all purchases, while the Amex Platinum offers two points on dining, food delivery and travel spending and one point on all other spending. The Scotia card is less limiting than the Platinum Amex in terms of rewards. 

Both cards offer extensive insurance coverage, however, it's worth noting that the Amex Platinum doesn’t provide travel medical coverage for cardmembers over the age of 65, which is a significant consideration for older travelers. The Amex Platinum also boasts superior travel perks such as access to over 1,300 airport lounges worldwide, a $200 annual travel credit, elevated hotel services and a $100 Nexus rebate – which are tailored for the frequent and luxury-focused traveler.

Scotiabank Platinum American Express Card vs. TD Aeroplan Visa Business Card

The Scotiabank Platinum American Express Card is designed for those who seek premium travel benefits and rewards, offering a range of perks such as travel insurance and access to airport lounges. 

On the other hand, the TD Aeroplan Visa Business Card is for business owners who frequently travel and are members of the Aeroplan program. With an annual fee of $149, it’s a more affordable option than the Scotia card, but its interest rate of 14.99% on purchases and 22.99% on cash advances are higher.With the TD Aeroplan card, the annual fee is waived in the first year and you can get a bonus of 65,000 Aeroplan points. The point structure is a little more confusing with the TD card as well: You’ll earn two points for every dollar spent with Air Canada; 1.5 points for every dollar spent in travel, dining and business categories; and one point for all other spending.  

Both the Scotiabank Platinum American Express and the TD Aeroplan Visa Business Card offer valuable benefits for travelers and business owners. Have a look at the benefits and the point structures to see if one is better suited than the other.

Scotiabank Platinum American Express Card Vs. Scotiabank Passport Visa Infinite Card

Both cards are designed with the traveler in mind, but they cater to slightly different needs and spending habits. You know all about the Scotia American Express by now, so let’s look at the Passport Infinite Visa.

It offers a more tiered approach, with two Scene+ points per dollar spent on groceries, dining, entertainment and daily transit, and an increased rate of three Scene+ points at certain grocery stores. 

Both cards offer attractive travel benefits, but the Scotiabank Passport Visa Infinite costs less at just $150 per year. Though it comes with only six lounge passes per year, compared to the Amex’s 10. Ultimately, the choice between the two will depend on individual spending patterns and travel habits.

Is the Scotiabank Platinum American Express Card worth it?

If you're a frequent traveler who enjoys the finer things in life, this card could be a perfect match. With its comprehensive travel insurance package, you're covered on multiple fronts, from emergency medical to trip cancellation. You'll love the comfort of access to over 1,200 airport lounges worldwide, ensuring your travel starts on a luxurious note. The no foreign transaction fees save you money with every purchase abroad, making this card a savvy choice for international spending. However, weigh these perks against the $399 annual fee, which could be justified if you take full advantage of the card's benefits.

Now, consider your spending habits and rewards potential. You earn two Scene+ points for every dollar spent, which can accumulate quickly if you're a high spender. The points you earn can unlock a world of travel, entertainment and more, but it's crucial to assess if your spending will earn enough rewards to offset the annual fee. If you're not a big spender or a frequent traveler, the card's benefits might not outweigh the costs. In that case, you might want to look for a card with a lower fee and a rewards structure that better aligns with your lifestyle. 

FAQs

  • What are the main benefits of the Scotiabank Platinum American Express Card?

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    The card shines for travelers, offering no foreign transaction fees, comprehensive travel insurance and VIP lounge access with Priority Pass. You'll also earn Scene+ points on purchases, enjoy premium concierge services and get exclusive access to events and luxury hotels.

  • How does the Scene+ rewards program work with the Scotia Amex Platinum?

    +

    Earn Scene+ points for every dollar spent on eligible purchases. These points are redeemable for travel, dining and entertainment, with no earning cap. Points don't expire, and you can boost your balance through promotions and travel bookings via Scene+ Travel.

  • Is the Scotia Platinum Amex's annual fee worth it?

    +

    The card's value hinges on your lifestyle. Frequent travelers and those who spend abroad could find the fee worthwhile, thanks to the travel perks and savings on foreign transaction fees. If your spending is modest or travel is infrequent, a card with a lower fee might be more beneficial.

About our author

Justin da Rosa
Justin da Rosa, Freelance Writer

Justin is a writer and editor who has been covering personal finance for over 10 years. He's written for companies such as KOHO, Ratehub, BMO, Zoocasa, and Questrade, among others. Justin also created a course in Content Creation, which he taught at York University for four years. When not writing, Justin can be found at a live concert, on the golf course, riding a motorcycle, or sailing.

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