Scotiabank · American Express · travel
Platinum American Express
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Terms read from Scotiabank's page on Oct 16, 2026.
Year 1, after fees
$1,205
Year 2+, after fees
$405
every year after
3 years, after fees
$2,215
Break-even
Month 2
Earn rate by category
Points at 1.00¢ each (cash or statement credit); published range 1¢ to 1¢. Source: Milesopedia points valuations, in effect since September 1, 2026.
All values are after each card's annual or monthly fee, and foreign transaction fees when you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime or Instacart+) aren't included.
Values for points and miles are estimates based on published redemption valuations; actual value depends on how you redeem.
On each spending preset
After fees; points at their cash value. "~" marks estimates.
| Spending | Year 1 | Year 2+ | 3 years | Break-even |
|---|---|---|---|---|
| Student ($985/mo) | −$163 | −$163 | −$288 | Never |
| Couple ($2,555/mo) | $1,014 | $214 | $1,643 | Month 2 |
| Family ($3,350/mo) | $1,205 | $405 | $2,215 | Month 2 |
| Frequent traveller ($3,880/mo) | $1,332 | $532 | $2,597 | Month 2 |
| Big spender ($7,960/mo) | $2,311 | $1,511 | $5,534 | Month 1 |
Who it suits
- People who want one flat rate on everything.
- Spending abroad: no foreign transaction fee.
Who should skip it
- Light spenders: on a student's $985 a month it doesn't earn back its $399 fee after year 1.
- Anyone below the published income minimum ($12,000 personal).
Fees and rates
- Annual fee
- $399
- Additional card
- $99
- Foreign transaction fee
- None
- Purchase APR
- 9.99%
Rewards
- 5x on hotels and car rentals on Scene+ Travel
- 2x on everything else
Eligibility and availability
- Income
- $12,000 personal
- Provinces
- All (no restriction stated)
Published requirements only. We don't estimate approval odds.
Assumptions
- Point value: Scene+ points at 1.00 cents each: no redemption style chosen, so cash or statement credit. Source: Milesopedia points valuations, in effect since September 1, 2026.
- Welcome bonus: 60,000 points after $5,000 in 3 months and 20,000 after $10,000 in 6 months. Your spending meets it in month 2.
- Travel portal: Portal-only rates aren't counted, since you book directly.
Perks, listed but not valued
- 10 lounge visits a year
- No foreign transaction fee
Earns more every year after year 1
On a family's spending, these keep more value from year 2 than this card's $405.
Scotiabank Gold American ExpressYear 2+ $940
American Express SimplyCash PreferredYear 2+ $936
CIBC Dividend Visa InfiniteYear 2+ $767
Frequently asked questions
Is the Scotiabank Platinum American Express worth it?
On a family's spending ($3,350 a month, points at their cash value), it's worth $1,205 in year 1 and $405 a year after that, after a $399 annual fee. It covers its fee by month 2.
What is the Scotiabank Platinum American Express welcome offer?
60,000 points after $5,000 in 3 months and 20,000 after $10,000 in 6 months. The issuer lists it until Nov 1, 2026.
Does the Scotiabank Platinum American Express charge foreign transaction fees?
No. The issuer states no foreign transaction fee.
What income do you need for the Scotiabank Platinum American Express?
Scotiabank publishes a minimum of $12,000 personal income. Approval depends on more than income, and we don't estimate approval odds.
Sources
Rates, fees and offers are set by the issuer and may change. Check the issuer's terms before you apply. We don't estimate approval odds.
Compare it with 39 other cards on the Canadian card comparison or read how cards are valued.