Notification of Changes - American Express Credit Cards

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.

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.

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.

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.

Important Notice of Changes

Changes to Scotiabank American Express Credit Card Accounts
Effective July 1, 2022

Scotiabank^®Platinum American Express^®* Card Account

Scotiabank^® American Express^®* Card Account

Scotiabank^®Platinum American Express^®* Card Account

Frequently Asked Questions

Scotiabank^® American Express^®* Card Account

Frequently Asked Questions

Important Notice of Changes

Changes to Scotiabank American Express Credit Card Accounts Effective July 1, 2022

Frequently Asked Questions

1. What are the changes on the Scotiabank® Platinum American Express®* Card Account (“Account”)?

2. When are the changes effective to the Account?

3. Why are these changes being made to the Account?

4. What are the changes to the Annual Interest Rates for the Scotiabank® Platinum American Express®* Card Account?

5. What are the changes to the Standard Rates for the Scotiabank® Platinum American Express®* Card Account?

6. Is the card’s annual fee impacted as a result of these changes?

7. What is a Foreign Currency Conversion Fee?

8. What is the change to the Foreign Currency Conversion Fee?

9. What happens if I select Canadian currency when I’m travelling abroad?

10. What are the new earn rates on Scene+ Points for the Account effective July 1, 2022?

11. Are there any caps on the earn rates for the Scene+ Points for my Account?

12. Will purchases that are made to the Account up to June 30, 2022, earn the previous earn rate?

13. Are there changes to how I redeem my Scene+ points?

14. What are the changes to the Insurance that is included with my card?

15. If I redeem my Scene+ Points to purchase a new Mobile Device through the Scene+ Apple or Best Buy Catalogues, will I be eligible for Mobile Device Insurance coverage?

Frequently Asked Questions

1. What are the changes on the Scotiabank® American Express®* Card Account (“Account”)?

2. When are the changes effective to the Account?

3. Why are these changes being made to the Account?

4. What are the new earn rates on Scene+ Points effective July 1, 2022?

5. Are there caps on the Accelerated Earn Rate for the Scene+ Points for my Account?

6. Will purchases that are made to the Account up to June 30, 2022, earn the previous earn rate?

7. Are there changes to how I redeem my Scene+ Points?

8. What are the changes to the Insurance that is included with my card?

9. If I redeem my Scene+ Points to purchase a new Mobile Device through the Scene+ Apple or Best Buy Catalogues, will I be eligible for Mobile Device Insurance coverage?

Changes to Scotiabank American Express Credit Card Accounts
Effective July 1, 2022