Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this2:15 pm
October 11, 2015
Offline
Hi everyone:
I was at a Scotiabank branch today and lots of news to report.
Firstly, the new credit card: It will officially launch on Monday, March 12, 2018. It is a $139 annual fee card. It offers the following:
-no foreign transaction fee
-complimentary airport lounge access (Priority Pass . I will quote "Cardmembers can access over 1,000 airport lounges around the world--regardless of what airline or class of service they're flying. The Primary cardmember will have complimentary Priority Pass membership, plus 6 free visit can be used by cardmember and/or to cover the cost of the lounge visit(s) of anyone travelling with them. Once they have used up their 6 free passees, each lounge visit will be charged at $27 USD per person.
-2 scotia rewards points for $1 spent on eligible grocery store, dining, entertainment, and daily transit purchases (which is a NEW category that includes buses, subways, taxis, and more), up to a maximum of $50,000 in purchases.
-earn 1 scotia rewards point on every $1 spent on all other eligible purchases
-***HERE IS THE IMPORTANT POINT WHEN COMPARING CARDS:
5,000 points =$50
-no transaction fees
-insurance: automatic travel emergency medical insurance
-trip interruption and trip cancellation insurance
-flight delay insurance
-delayed and lost luggage insurance
-price protection
-auto rental collision/loss damage insurance
-hotel/motel burglary insurance
-common carrier travel accident insurance
-purchase security insurance
-extended warranty insurance
-optional Scotia Credit Card Protection
** the CSR told me that the card is FREE, however in the paperwork it states:
"for annual fee and supplementary cards, see Annual Fees; I just looked online and they are not showing the card yet online.
Update: card has launched and website is here
2:22 pm
May 15, 2007
Offline
Perhaps there will be a first year free offer? There's a RedFlagDeals thread that states there will be a $139 annual fee.
8:39 am
October 11, 2015
Offline
Yes, I just saw that posting too, Peter. Perhaps they offer it to some clients who have certain accounts? I never paid for my other Scotia Gold Passport.
11:13 am
February 17, 2013
Offline
Hopefully the no FX fee will become more popular
9:11 pm
January 3, 2013
Offline
This is great news but the annual fee is a No No! why would anyone pay $139 for a card who just pays 2 points (2%) up to $50K? And I assume $50K is the life time not just per year or maybe I am wrong. I don't really see anything else special (other than no FX fee) to justify the annual fee. I would consider if it is $39 but $139 is too much unless you spend a lot more than $5550 / year considering normal FX fee is 2.5%.
I am still waiting for my Home Trust Visa decision. It has been 3 weeks with no news yet. If that doesn't work, Fido would be my next option.
9:48 pm
February 17, 2013
Offline
Save2Retire@55 said
I am still waiting for my Home Trust Visa decision. It has been 3 weeks with no news yet. If that doesn't work, Fido would be my next option.
Mine took about a month. I think they may have an influx of applications after the Amazon.ca card announced they were folding.
7:29 am
October 11, 2015
Offline
Update: the website is up and running
In reading the fine print: 5000 points = $50 (not as originally posted 2500 points)
therefore: 1000 points = $10
Currently i use a BMO World Elite Mastercard, which was recently changed. I tried to do a calculation of points: 1000 BMO points=$7 but you get 1 points for each dollar used=$14
So 1000 Scotia=$10 and 2000 (which is equivalent) BMO =$14.
I guess i'm sticking with the BMO:(
However, the NO FOREIGN TRANSACTION fee is still a nice feature.
The Scotia card is listed at $139 annual fee. Not sure if they will waive this for certain customers.
7:41 am
May 15, 2007
Offline
Sign-up bonus is 25,000 points after $1,000 of purchases in the first 3 months.
Here's the web link, which I'll add to the original post: http://www.scotiabank.com/ca/e.....-card.html
They definitely beat Brim Financial (https://www.highinterestsavings.ca/forum/credit-card-reward-programs/brim-financial-credit-card-no-forex-fee/) out of the gate!
1:41 am
May 3, 2015
Offline
Nice to see an FX-free card, but the annual fee defeats the whole purpose of it, unless you spend over $6000 a year in foreign currencies. Perhaps other benefits of the card is worth paying the fee for some people. I personally do not care for any card that has an annual fee.
But the good news is that maybe these 3-4 new entrants will get the ball rolling and other banks will start introducing fee-free no-FX cards.
I'm still dumbfounded that Tangerine upped its FX fee to 2.5%. If any card should be FX-free, its this one! So much for saving its clients money!
6:58 am
September 30, 2017
Offline
Save2Retire@55 said
... I am still waiting for my Home Trust Visa decision. It has been 3 weeks with no news yet. ...
I applied during the last week of Jan, still no news. When I finally called yesterday, they do acknowledged there was an influx of application. Mine was yet to be processed. . . . it appears there is a strong demand for the no-forex-fee feature.
5:30 pm
January 3, 2013
Offline
Rick said
Mine took about a month. I think they may have an influx of applications after the Amazon.ca card announced they were folding.
Yeah I am reading the Reddit posts and it is 4 - 6 weeks. I have 6 weeks to my next trip. If I don't hear back from them by end of the month, I will apply for Fido.
5:32 pm
January 3, 2013
Offline
hwyc said
I applied during the last week of Jan, still no news. When I finally called yesterday, they do acknowledged there was an influx of application. Mine was yet to be processed. . . . it appears there is a strong demand for the no-forex-fee feature.
Oh wow! This is crazy. They should stop doing things manually and get some kind of automation. The other bad news I heard was that you can't change the PIN!
5:35 pm
January 3, 2013
Offline
Peter said
Sign-up bonus is 25,000 points after $1,000 of purchases in the first 3 months.
25000 points would be $250 applied to travel credits. They offer you $250 but then deduct $139 / year? They could at least waive the first year like their other promotions for CCs with high fees.
5:45 pm
January 3, 2013
Offline
Peseta said
I'm still dumbfounded that Tangerine upped its FX fee to 2.5%. If any card should be FX-free, its this one! So much for saving its clients money!
I have been a loyal customer since the beginning with Tangerine but never considered their credit card. I prefer something like Amazon even if there is no return. Just don't get 2.5% out of my pocket to put in yours.
7:47 am
December 1, 2016
Offline
Rick said
Mine took about a month. I think they may have an influx of applications after the Amazon.ca card announced they were folding.
I applied just shy of 5 weeks now and still haven't heard back anything. When I called in, they said that I would receive an email with my answer. Is that what you got?
9:38 am
February 17, 2013
Offline
moneyhelp said
I applied just shy of 5 weeks now and still haven't heard back anything. When I called in, they said that I would receive an email with my answer. Is that what you got?
Nope...never did get an email. Secondary card showed up on a Friday 4 weeks after I applied and the primary card the following Tuesday. I think I was ahead of the rush of applications after Amazon announced they were folding.
Please write your comments in the forum.