8 Best Scotiabank Credit Cards in Canada for 2024

Scotiabank, also known as the Bank of Nova Scotia, is one of Canada’s largest banks. The financial institution offers credit cards that fit the needs of a range of customers, including business owners, students, travellers and everyday spenders. Some of Scotiabank’s credit cards earn rewards like cash back or its proprietary Scene+ points.

Scene+ points can be redeemed for various products and services like travel bookings, groceries, gift cards, account credits and more.

Best Scotiabank credit cards in Canada

Summary of the best Scotiabank credit cards

How Scotiabank credit cards work

The Bank of Nova Scotia, commonly known as Scotiabank, is one of Canada’s Big Six banks. Most Scotiabank credit cards are on the Visa or American Express networks and can be used anywhere those brands are accepted.

Some Scotiabank credit cards earn cash back, while others earn points through Scotiabank’s Scene+ rewards program. Scene+ points can be redeemed for travel, dining, groceries, entertainment, gift cards, general merchandise or account credits.

Types of Scotiabank credit cards

Scotiabank offers a wide selection of credit cards for both personal and business use. Most Scotiabank cards earn some form of reward, while others offer benefits like lower interest rates and can be used to build credit.

Scotiabank’s credit cards fall into the following general categories:

• Scotiabank Scene+ rewards cards. Rewards credit cards typically generate points to be used with a bank’s own loyalty program. In Scotiabank’s case, credit card users earn Scene+ points that can be redeemed for a variety of merchandise, including travel purchases. 

• Scotiabank travel credit cards. The bank’s travel cards combine the points-earning feature of many of its rewards cards with added travel perks, like lounge access and insurance coverage.

• Scotiabank cash-back cards. Cash-back credit cards earn cardholders a percentage of the amount spent on eligible purchases. Multiple Scotiabank cash-back cards have “Momentum” in their name.

• Scotiabank student credit cards. Student credit cards generally offer lower interest rates and fees, making them a good option for college and university students who may not have much income to work with. 

• Scotiabank low-interest credit cards. Cards that charge a lower-than-normal interest rate are an option for people who want to minimize debt or are concerned about the cost of carrying a credit card balance.

• Scotiabank U.S. dollar cards. Cards specifically intended for making purchases south of the border can help consumers avoid currency conversion fees. 

• Scotiabank business credit cards. Business credit cards typically offer higher credit limits than personal credit cards, helping business owners cover the cost of operations. Scotiabank’s business credit cards also allow business owners to earn cash back rewards or Scene+ points. 

• Scotiabank credit cards for newcomers. These cards are meant for new arrivals to Canada looking for an opportunity to build credit and get accustomed to the country’s credit card landscape.

Common features of Scotiabank credit cards

Brand affiliations

Most Scotiabank credit cards are either Visa or American Express cards, although the bank does currently provide one cash-back Mastercard.

Scene+ rewards program

Scene+ is Scotiabank’s proprietary rewards program, which it operates with movie theatre chain Cineplex Odeon. While Scene+ points can be collected and redeemed at Cineplex theatres, that’s only part of the program.

Scene+ points can also be earned at a variety of grocery stores and their associated pharmacies, including large national chains like Sobeys, Safeway, Foodland and FreshCo; and at restaurants like Harvey’s, Swiss Chalet and Montana’s. Rewards can also be earned by booking travel through Scene+ Travel and making online purchases with Scene+ Rakuten.

Scene+ points can be redeemed for merchandise, travel purchases, entertainment experiences and account credits.

Average interest rates

Most Scotiabank credit cards offer an interest rate of either 19.99% or 20.99% on purchases. But there are some low-interest rate cards that charge between 9.99% and 12.99%. Scotiabank also offers a card for businesses with a variable rate tied to the bank’s prime rate.

With the exception of its low-rate cards, Scotiabank’s credit cards charge an interest rate of 22.99% on cash advances.

Annual fees vary

Most Scotiabank credit cards charge an annual fee, which gets paid at the beginning of each year a card is used. Unlike Scotiabank’s credit card interest rates, the fees charged for each of its cards vary wildly.

Here’s how the annual fees break down for the cards included in this round-up.

• Scotia Momentum® Visa Infinite* Card: $120.

• Scotiabank Gold American Express® Card: $120.

• Scotiabank Platinum American Express® Card: $399.

• Scotiabank Passport® Visa Infinite* Card: $150.

• Scotiabank Red American Express® Card: $0.

• Scotiabank® Scene+™ Visa* Card: $0.

• Scotia Momentum® No-Fee Visa* card: $0.

• Scotia Momentum® for Business Visa* Card: $79.

Additional perks

Some of Scotiabank’s travel-focused cards offer fairly sweet travel perks, like lounge access and no foreign transaction fees. Their Amex cards, like all American Express cards, offer a unique suite of perks, like the Front of the Line program, that aren’t offered elsewhere.

Opportunities to earn rewards

Scotiabank’s credit cards earn two types of rewards: Scene+ points, which can be redeemed for a variety of products and experiences, and cash back.

Scotiabank’s Scene+ cards’ highest earn rates apply to grocery purchases. The Scotiabank Gold American Express® Card, for example, earns 6 Scene+ points per dollar spent at some of Canada’s best-known grocery chains.

Scotiabank’s cash-back cards, most of which have “Momentum” in their names, generally offer earn rates of 2% or lower once their introductory periods expire. One exception is the Scotia Momentum® Visa Infinite* Card, which offers 4% cash back on groceries, subscriptions and recurring bill payments, and 2% cash back on gas and daily transit purchases.

How to choose the best Scotiabank credit card for you

When choosing any credit card, one of the first things to watch out for are any eligibility requirements you may not be able to satisfy, including those related to age, location, income or your credit score.

You’ll also want to compare cards based on their:

• Annual fees. Fees vary wildly from card to card, from nothing to hundreds of dollars per year. Cards that charge annual fees tend to offer more valuable perks than those that don’t. You’ll have to decide if the perks and rewards offered justify a card’s annual fee.

• Interest rate. If you generally keep a balance on your card from month to month, it’s worth looking for a card with a lower interest rate.

• Rewards structure. If rewards are a priority when applying for a credit card, you’ll typically have to choose between collecting points or earning cash back. It’s important not to chase rewards by overspending. The interest you wind up paying could overwhelm the value of your rewards.

Who should consider a Scotiabank credit card?

Scotiabank has credit cards on the world’s largest credit card networks and offer a nice selection of reward structures, making them a worthy option for Canadians looking for a convenient way to cover their expenses and earn bonuses. And if you’re already a Scotiabank customer, applying for a card should be easier.

Because many of Scotiabank’s rewards are paid out in Scene+ points, they’ll be most valuable to people who shop at Scene+ partner brands and understand the ins and outs of the program.

How to get a Scotiabank credit card

1. To apply for a Scotiabank credit card, visit the Scotiabank website, find the card you’re interested in and click “Apply Now”. Applying online should take less than 10 minutes. 

2. Early in the application process, you’ll have to confirm that you are a Canadian resident at least the age of majority in your province and have not declared bankruptcy in the past seven years. You may also have to confirm that you meet a minimum income requirement. 

3. Review your card’s terms and conditions.

4. Enter your personal information. If you’re not already a Scotiabank customer, you’ll need to create a username and a password and verify your identity through your regular financial institution.

5. Provide Scotiabank with additional qualifying details, which typically include employment status and finances, including your annual personal income and monthly housing expenses.

6. Review the information you’ve submitted.

7. Submit your application.

» MORE: How to apply for a credit card

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