Important Notice of Changes
Changes to Scotiabank American Express Credit Card Accounts
Effective July 1, 2022
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Scotiabank® Platinum American Express®* Card Account
Frequently Asked Questions
Effective July 1, 2022, we are making changes to the annual interest rates, foreign currency conversion fee, Scene+™ Points Earn Rate and insurance benefits that are included with your Account as detailed below:
- Preferred Annual Interest Rates: The Preferred Annual Interest Rate on Purchases is changing from 19.99% to 9.99%. The Preferred Annual Interest Rate on Cash Advances (including balance transfers, cash-like transactions and Scotia® Credit Card Cheques) is also changing from 22.99% to 9.99%.
See Question #4 for more details.
- Standard Rates: The Standard Rate on Purchases is changing from 24.99% to 19.99%. The Standard Rate on Cash Advances (including balance transfers, cash-like transactions and Scotia® Credit Card Cheques) is also changing from 27.99% to 19.99%.
See Question #5 for more details.
- Foreign Currency Conversion Fee: The foreign currency conversion fee for your Account is changing from 2.50% to 0.00%.
See Questions #7 - #9 for more details.
- Scene+ Points Earn Rate Changes: The Accelerated Earn Rates on purchases1 in certain existing merchant categories (grocery, dining, gas and entertainment) are changing from 4 Scene+ Points for each $1.00 charged to your Account to
2 Scene+ Points for each $1.00 charged to your Account in these accelerated rate merchant categories.
Earn Rates on all other eligible purchases are changing from 1 Scene+ Point for each $1.00 charged to your Account to 2 Scene+ Points for each $1.00 in purchases charged to your Account.
See Questions #10 - #13 for more details.
There are no changes to redemption rates for Scene+ Points you can redeem under the Scene+ Program.
- Insurance: Mobile Device Insurance will now be added to your insurance coverage on your Account.
See Question #14 and #15 for more details.
All changes are effective as of July 1, 2022. Changes will automatically be made to your Account; no action is required on your part.
We regularly review the features and benefits offered on our credit cards, including pricing. In some cases, this means fees and rates or the features and benefits that are included may change. This allows us to ensure that our products and services remain competitive and continue to provide value to our customers.
The Preferred Annual Interest Rates on Purchases is changing from 19.99% to 9.99%.
The Preferred Annual Interest Rates on Cash Advances (including balance transfers, cash-like transactions and Scotia® Credit Card Cheques) is also changing from 22.99% to 9.99%.
Note: The revised new Preferred Annual Interest Rates on Purchases of 9.99% and Cash Advances of 9.99% will be applied effective the first day after your July 2022 statement date. For example, if your statement date is July 15, 2022, then the revised new Interest Rates will apply to your Account starting as of July 16, 2022.
TIP: To avoid paying interest on new purchases you make each month, please ensure that we always receive payment of your entire balance in full by the payment due date that appears on your statement. You can set up pre-authorized payments for your Account to help you with that. Contact us if you wish to discuss that option.
See your Disclosure Statement for your Account for more information about Annual Interest Rates on your Account.
The Standard Rate on Purchases is changing from 24.99% to 19.99%.
The Standard Rate on Cash Advances (including balance transfers, cash-like transactions and Scotia® Credit Card Cheques) is also changing from 27.99% to 19.99%.
The Standard Rate on Purchases and Cash Advances only applies if we do not receive your Minimum Payment by the payment due date on your statement two or more times in any consecutive 12-month period.
If your Account is part of the Scotia® Total Equity Plan, these higher Standard Rates do not apply to your Account.
If the Standard Rate on Purchases and/or Cash Advances applies to your Account at the time the change takes effect, the revised Standard Rate on Purchases and Cash Advances of 19.99% will be applied effective the first day after your July 2022 statement date. For example, if your statement date is July 15, 2022, then the revised new Standard Rates will apply to your Account starting as of July 16, 2022.
TIP: To avoid paying interest at the Standard Rate on Purchases, ensure we receive your Minimum Payment (or more), by your payment due date to avoid missing two or more minimum payments in any consecutive 12-month period.
You can set up pre-authorized payments for your Account to help you with that. Contact us if you wish to discuss that option.No, there is no change to the annual fee for your Account as a result of these changes. Currently the annual fee is $399.00 for the primary card and $99.00 for each additional card.
The “Foreign Currency Conversion Fee” is the fee (or “mark-up”) that is charged on transactions that are made on a Scotiabank credit card Account in a foreign currency. This could happen when you buy something while traveling abroad, or by placing an online order with a foreign merchant. It could also happen for a cash advance at an ABM in another country. Most major banks in Canada charge a 2.50% foreign currency fee (plus the exchange rate applies).
Effective as of July 1, 2022, we will no longer charge the 2.50% Foreign Currency Conversion Fee (the markup) that is typically charged on foreign transaction purchases on your Scotiabank Platinum American Express Card Account. Only the exchange rate will continue to apply.
See your Disclosure Statement for your Account for more information about Foreign Currency Conversion on your Account.
For transactions that you request to convert into Canadian dollars with a merchant located outside of Canada:
- Before July 1, 2022, the Foreign Currency Conversion Fee will be charged to the Account on that transaction when converted into Canadian dollars, which is 2.50%.
- After July 1, 2022, this fee will no longer be charged by Scotiabank. Only the exchange rate will continue to apply.
See Questions #7 and #8 for more details.
You are awarded two (2) Scene+ Points for every eligible $1.00 in purchases of goods and services charged and posted to the Scotiabank Platinum American Express Card Account.
All dollar amounts are in Canadian currency unless otherwise stated.
No, there is no cap. You will earn points at the earn rate of two (2) Scene+ Points for every $1.00 on all eligible purchases charged to the Account.
If you make a purchase on the Account on or before June 30, 2022 (based on the transaction date that appears on your statement), you will be awarded four (4) Scene+ Points for every eligible $1.00 purchase in grocery, dining, gas and entertainment and you are awarded one (1) Scene+ Point for every $1.00 in all other purchases of goods and services charged and posted to the Scotiabank Platinum American Express Account.
Note: Any refunds or credits applied to the Account will be refunded at the original Accelerated Earn Rate.
Purchases that are made on the Account on or after July 1, 2022 (based on the transaction date that appears on your statement) will earn the new earn rate as detailed in Question #10).
There are no changes to how you redeem Scene+ Points or the redemption values as a result of these July 1, 2022, changes.
You will continue to redeem Scene+ Points the same way that you do today.
There are no changes to redemption rates for the Scene+ Points program. For full details please visit www.sceneplus.ca
We are adding Mobile Device Insurance.
Mobile Device Insurance (New): You will have Mobile Device Insurance† for new cellular phones, smartphones or tablets purchased on or after July 1, 2022, when you charge the full cost of your new mobile device to your Card or charge all of your wireless bill payments for such device to your Card when you fund such purchase through a plan. You may be covered for up to $1,000 in the event your cell phone, smartphone or tablet is lost, stolen or accidentally damaged or experiences mechanical failure.
The current insurance coverages on your Account are not changing. You will continue to have coverage for:
- Travel Emergency Medical Insurance†
- Trip Cancellation/Trip Interruption Insurance†
- Flight Delay Insurance†
- Rental Car Collision/Loss Damage Insurance†
- Delayed and Lost Luggage Insurance†
- Common Carrier Travel Accident Insurance†
- Hotel/Motel Burglary Insurance†
- Purchase Security & Extended Warranty†
If you have any questions, please contact the administrator by calling 1-877-391-7507.
No, if Scene+ Points were used towards the purchase of a Mobile Device you will not be eligible for coverage.
If you have any questions, please contact the administrator by calling 1-877-391-7507.
Questions or Concerns?
Should you have questions or if you do not agree with these changes, you must notify us within
30 days of the effective date of the changes. We can discuss an alternative product for you and if you still wish to close your Account, we will do so, without cost or penalty, and discuss payment options for any outstanding balance owing on your Account. If you have any further questions, please visit your local branch or call us at 1-888-999-7185 and we would be happy to assist you.LEGAL FOOTNOTESAll fees, rates and other features and benefits of Scotiabank credit card Accounts are subject to change.1Scene+ Points are not awarded for cash advances, balance transfers, Scotia® Credit Card Cheques, returns, refunds or other similar credits, payments, fees, interest, or other charges on the Account. Cash advances include cash-like transactions which are monetary transactions posted to your Account and include wire transfers, foreign currency, travelers cheques, money orders and gaming chips.†Under all insurance coverages or services, certain limitations, restrictions and exclusions apply, including a pre-existing condition exclusion for certain benefits. Please see the Certificates of Insurance for full coverage details. Coverages are underwritten by The Manufacturers Life Insurance Company and its wholly owned subsidiary First North American Insurance Company. The Bank of Nova Scotia is not an insurer. All insurance claims must be forwarded to the insurance providers.®Registered trademarks of The Bank of Nova Scotia.®*American Express is a registered trademark of American Express. This credit card program is issued and administered by The Bank of Nova Scotia under license from American Express.™Registered trademark of SCENE IP LP, used under license.
- Preferred Annual Interest Rates: The Preferred Annual Interest Rate on Purchases is changing from 19.99% to 9.99%. The Preferred Annual Interest Rate on Cash Advances (including balance transfers, cash-like transactions and Scotia® Credit Card Cheques) is also changing from 22.99% to 9.99%.
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Scotiabank® American Express®* Card Account
Frequently Asked Questions
Effective July 1, 2022, we are making changes to the Scene+™ Points Earn Rate and insurance benefits that are included with your Account as detailed below:
- Scene+ Points Earn Rate Changes:
You will earn a new Accelerated Earn Rate of two (2) Scene+ Points for each $1.00 charged to the Account in purchases1 made on your Account for specific merchant categories in “grocery, dining and entertainment, gas, daily transit and select streaming services”.2
For all other eligible purchases, you will only earn one (1) Scene+ Point for each $1.00 charged to your Account.
See Questions #4 - #7 for more details.
There are no changes to redemption rates for Scene+ Points you can redeem through the Scene+ Program.
- Insurance:
Travel Emergency Medical Insurance, Trip Interruption Insurance, Common Carrier Travel Accident Insurance and Rental Car Collision/Loss Damage Insurance will be removed while Mobile Device Insurance will now be added to your insurance coverage on your Account.
See Question #8 and #9 for more details.
All changes are effective as of July 1, 2022. Changes will automatically be made to your Account; no action is required on your part.
We regularly review the features and benefits offered on our credit cards, including pricing. In some cases, this means fees and rates or the features and benefits that are included may change. This allows us to ensure that our products and services remain competitive and continue to provide value to our customers.
New Accelerated Earn Rate
You are awarded two (2) Scene+ Points for every eligible $1.00 purchase in grocery, dining, entertainment, gas, daily transit and select streaming services (as described below) charged and posted to the Scotiabank American Express Card Account (the “Accelerated Earn Rate”)
2x Eat In & Eat Out: Earn 2x points for every $1 spent on eligible grocery stores, restaurants, fast food, and drinking establishments, including popular food delivery and food subscriptions.
2x Watch & Cheer: Earn 2x points for every $1 spent on eligible entertainment purchases, including movies, theatre and ticket agencies.
2x Ride & Drive: Earn 2x points for every $1 spent on eligible gas and daily transit, including rideshare, buses, taxis, subway and more.
2x Listen & Stream: Earn 2x points for every $1 spent on eligible select streaming services.
You are awarded one (1) Scene+ Point for every $1.00 in all other purchases of goods and services charged to the Scotiabank American Express Account (the “Regular Earn Rate”).
All dollar amounts are in Canadian currency unless otherwise stated.
Yes, there is a new cap on the Accelerated Earn Rate.
The Accelerated Earn Rate (2x) will apply to the first $50,000 in purchases charged annually on the Account, at merchants qualifying for the Accelerated Earn Rate, which will be calculated from January 1 to December 31 each year. Once you exceed this threshold, you will continue earning points at the Regular Earn Rate of one (1) Scene+ Point per $1.00 in purchases.
If you make a purchase on the Account on or before June 30, 2022 (based on the transaction date that appears on your statement), you will be awarded one (1) Scene+ Point for every eligible $1.00 in purchases of goods and services charged and posted to the Scotiabank American Express Account.
Note: Any refunds or credits applied to the Account will be refunded at the original Accelerated Earn Rate.
Purchases that are made on the Account on or after July 1, 2022 (based on the transaction date that appears on your statement) will earn the new earn rate as detailed in Question #4 and #5.
There are no changes to how you redeem Scene+ Points or the redemption values as a result of these July 1, 2022, changes.
You will continue to redeem Scene+ Points the same way that you do today.
There are no changes to redemption rates for the Scene+ Points program. For full details please visit www.sceneplus.ca
Travel Emergency Medical Insurance, Trip Interruption Insurance, Common Carrier Travel Accident Insurance and Rental Car Collision/Loss Damage Insurance will no longer be included on your Account. Insurance claims on your Account, related to these travel insurance coverages, may be made if they meet the eligibility requirements on any eligible transaction charged to your Account until and including July 1, 2022.
For Travel Emergency Medical Insurance, Trip Interruption Insurance, Common Carrier Travel Accident Insurance, you must report your claim within 90 days and send us all proof within 1 year.
For Rental Car Collision/Loss Damage, you must call the administrator immediately if the vehicle sustains any damage. You must submit your claim within 90 days and send us all proof within 1 year.
Should you be interested in a credit card that offers this insurance coverage, you may want to consider the Scotiabank* Gold American Express®* Card. For details, please visit: www.scotiabank.com/amexgold
Mobile Device Insurance will now be added to your insurance coverage on your Account. You will have Mobile Device Insurance† for new cellular phones, smartphones or tablets purchased on or after July 1, 2022, when you charge the full cost of your new mobile device to your Card or charge all of your wireless bill payments for such device to your Card when you fund such purchase through a plan. You may be covered for up to $500 in the event your cell phone, smartphone or tablet is lost, stolen or accidentally damaged or experiences mechanical failure.
If you have any questions, please contact the administrator by calling 1-800-263-0997.
No, if Scene+ Points were used towards the purchase of a Mobile Device you will not be eligible for coverage.
If you have any questions, please contact the administrator by calling 1-800-263-0997.
Questions or Concerns?
Should you have questions or if you do not agree with these changes, you must notify us within
30 days of the effective date of the changes. We can discuss an alternative product for you and if you still wish to close your Account, we will do so, without cost or penalty, and discuss payment options for any outstanding balance owing on your Account. If you have any further questions, please visit your local branch or call us at 1-888-999-7185 and we would be happy to assist you.LEGAL FOOTNOTESAll fees, rates and other features and benefits of Scotiabank credit card Accounts are subject to change.1Scene+ Points are not awarded for cash advances, balance transfers, Scotia® Credit Card Cheques, returns, refunds or other similar credits, payments, fees, interest, or other charges on the Account. Cash advances include cash-like transactions which are monetary transactions posted to your Account and include wire transfers, foreign currency, travelers cheques, money orders and gaming chips.2Purchases must be made at merchants classified through the American Express network with a Merchant Category Code (“MCC”) that identifies them in the American Express network in the “grocery”, “dining”, “entertainment”, “gas”, “daily transit” or “streaming services” category. Purchases at merchants where these categories are not their primary business do not qualify. Some merchants may (i) provide other goods or services; or (ii) have separate merchants located on their premises that may not be classified with an MCC under the Accelerated Earn Rate categories and such purchases will not earn the Accelerated Earn Rate as applicable.†Under all insurance coverages or services, certain limitations, restrictions and exclusions apply, including a pre-existing condition exclusion for certain benefits. Please see the Certificates of Insurance for full coverage details. Coverages are underwritten by The Manufacturers Life Insurance Company and its wholly owned subsidiary First North American Insurance Company. The Bank of Nova Scotia is not an insurer. All insurance claims must be forwarded to the insurance providers.®Registered trademarks of The Bank of Nova Scotia.®*American Express is a registered trademark of American Express. This credit card program is issued and administered by The Bank of Nova Scotia under license from American Express.™Registered trademark of SCENE IP LP, used under license.
- Scene+ Points Earn Rate Changes: