ScotiaGold Passport VISA review

Not to be confused with the Scotiabank Passport Visa Infinite Card, the ScotiaGold Passport VISA is another Scotiabank travel rewards credit card that comes with one feature that will really appeal to travellers.

 

That being said, I don’t think that highly of this card since the additional benefits being offered are not exactly great. Read my ScotiaGold Passport VISA card review now for the full details.

ScotiaGold Passport VISA review

ScotiaGold Passport VISA card benefits

  • $110 annual fee
  • 5,000 Scotia Rewards points ($50 value) after your first purchase
  • 5% in cash-back when booking travel through the Scotia Rewards Travel Service
  • Earn 1 Scotia Rewards point per $1 spent on all purchases
  • Save up to 25% off base rates at participating AVIS and Budget locations in Canada

Of all the benefits offered, only the 5% in cash-back when booking travel through the Scotia Rewards Travel Service is appealing. That’s the highest amount in cash-back you can earn from any credit card in Canada when making travel purchases. Of course, you need to factor in the $110 fee so that means you would need to spend a minimum of $2,200 on travel just to break even.

Even though you get the sign up bonus of 5,000 Scotia Rewards points after your first purchase, those points are only worth $50 which doesn’t even offset the annual fee of $110.

The earn rate of 1 Scotia Rewards point per $1 spent on all purchases is not terrible, but it’s also not great when you compare it to some of the best travel credit cards in Canada.

Despite the fact that I think the benefits offered by the card are weak,  this card doesn’t fall under the Infinite line of Visa’s so there’s a lower income requirement to qualify for the card.

How it compares to other cards

The most comparable card is the Scotiabank Passport Visa Infinite card since they are similar in look and name. The Scotiabank Passport Visa Infinite Card is a much stronger card since it has additional benefits such as no foreign exchange fees, six airport lounge passes, a higher signup bonus. Although the Scotiabank Passport Visa Infinite card has a higher annual fee of $139, the benefits are clearly much better.

Now let’s assume you don’t meet the income requirement for the Scotiabank Passport Visa Infinite card, are there any other cards that are comparable? I honestly think you’re better off getting a cash-back card such as the American Express SimplyCash Preferred card or the Tangerine Money-back card.

With the Amex SimplyCash Preferred card, you pay an annual fee of $99 but you’ll earn 5% cash-back on purchases for the first 6 months (up to $300) and 2% on all purchases after your promotional period ends.

The Tangerine money-back card earns you 2% cash-back on up to three categories of your choice and 0.5% in cash-back on all other categories. Best of all, there is no annual fee for this card.

Final thoughts

My ScotiaGold Passport VISA review is negative. The benefits offered for the price of the annual fee just doesn’t seem worth it to me. If you have a higher income, you’re better off applying for one of the best travel credit cards in Canada. Even if you don’t meet the income threshold, there are cash-back cards that give you a better return.

By |2018-10-09T10:40:07+00:00October 9th, 2018|Credit cards, Personal Finance, Travel|

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