Overview
The Scotiabank American Express Platinum Card is a unique premium card that combines features you rarely find together: a flat 2x earn rate on all purchases, no foreign transaction fees, 10 airport lounge passes, a 9.99% interest rate, and one of the strongest insurance packages available on a Canadian credit card — all with only a $12,000 personal income requirement.
At $399/year, it's not cheap. But for travellers who carry a balance occasionally, want lounge access, and value simplicity over category-tracking, the Platinum Amex fills a niche that no other Canadian card quite covers.
The current welcome offer delivers up to 80,000 bonus Scene+ points (worth $800 in travel value) — enough to offset two full years of the annual fee.
Earning Scene+ Points
The Scotiabank Platinum Amex has the simplest earn structure in the Scotiabank lineup:
- 2 Scene+ points per $1 on all purchases — no categories, no caps, no tracking
That's it. Every dollar you spend earns 2 points, regardless of merchant category. At 1.0¢/point, that's a flat 2% return on everything.
Simplicity vs. Maximization
The flat 2x rate means you never have to think about which card to pull out. Every purchase earns the same rate. Compare this to the Gold Amex, which earns 1–6x depending on category — if you find category-optimizing tedious, the Platinum card removes that friction entirely.
However, the trade-off is that the Gold Amex ($120/year) earns significantly more on bonus categories like groceries (5–6x) and dining (5x). On a $3,000/month spend split across typical categories, the Gold Amex earns approximately $882/year in rewards versus $720/year on the Platinum. The Platinum card's value proposition comes from its other features — lounge access, low interest, and insurance — rather than raw earn rate.
Real-World Earning Example
On $3,000/month in total spending, you'd earn 72,000 Scene+ points per year — worth $720 in travel. That more than covers the $399 annual fee, before counting lounge access, FX savings, and the welcome bonus.
Redeeming Scene+ Points
Scene+ points offer flexible redemption across multiple categories:
Top-Value Redemptions (1.0¢/point)
- Any travel via Scene+ Travel (Expedia) — Flights, hotels, car rentals, vacation packages
- Any travel from any provider — Book however you want, apply points as a statement credit
- Cineplex theatres — Movie tickets and concessions
- Recipe Unlimited restaurants — Swiss Chalet, Harvey's, Montana's, The Keg, and more
- Eligible grocery stores — Pay with points at Sobeys, Safeway, Foodland, IGA, FreshCo, and participating locations
- Home Hardware — In-store redemption
Lower-Value Redemptions
- Statement credits — 0.8¢/point
- Apple & Best Buy merchandise — 0.77¢/point
- Gift cards — 0.74¢/point (avoid)
At the 2x earn rate, the effective return when redeeming for travel is a flat 2% on everything — simple and predictable.
Welcome Bonus Breakdown
The welcome offer is one of the largest among Scotiabank cards:
| Tier | Requirement | Bonus |
|---|---|---|
| Tier 1 | Spend $3,000 in the first 3 months | 60,000 Scene+ points |
| Tier 2 | Spend $10,000 in the first 14 months | 20,000 Scene+ points |
| Total | 80,000 Scene+ points |
The bonus offer ends July 1, 2026. At 1.0¢/point, the 80,000 points are worth $800 in travel — more than covering the first two years of the annual fee.
Low Interest Rate: 9.99%
This is where the Platinum Amex truly stands apart. While most Canadian rewards cards charge 20.99% on purchases, this card charges just 9.99% on:
- Purchases — 9.99%
- Cash advances — 9.99%
- Balance transfers — 9.99%
If you occasionally carry a balance, the savings are substantial. On a $5,000 carried balance, you'd pay approximately $500/year in interest on the Platinum Amex versus $1,050/year on a standard 20.99% card — a saving of $550, which more than covers the annual fee by itself.
That said, we always recommend paying your balance in full each month to maximize the card's value. But life happens, and having a safety net of 9.99% interest is genuinely valuable.
No Foreign Transaction Fees
Like the rest of the Scotiabank travel card lineup, the Platinum Amex charges 0% on foreign currency purchases. Combined with the flat 2x earn rate (which applies to all purchases including international ones), this card is a strong choice for international spending.
Unlike the Gold Amex — which drops to 1x on foreign currency — the Platinum Amex maintains its full 2x rate on every purchase regardless of currency.
Airport Lounge Access
The card includes 10 complimentary Priority Pass and Plaza Premium lounge visits annually, with access to 1,200+ global lounges. Adding a supplementary cardholder ($99/year) unlocks 4 additional passes, for a total of 14 lounge visits per year.
This is more generous than most Canadian premium cards at this price point:
| Card | Annual Lounge Passes | Annual Fee |
|---|---|---|
| Scotiabank Platinum Amex | 10 (+ 4 supplementary) | $399 |
| Scotiabank Passport Visa Infinite Privilege | 10 | $599 |
| Scotiabank Passport Visa Infinite | 6 | $150 |
| TD First Class Travel Visa Infinite | 4 | $139 |
Insurance & Benefits
The Platinum Amex's insurance package is excellent — 12 types of coverage with limits that rival the $599 Passport Visa Infinite Privilege:
Travel Insurance
- Travel emergency medical insurance — Up to $2,000,000 for 31 days per trip (10 days if over 65)
- Travel accident insurance — $500,000
- Trip cancellation insurance — Up to $2,500
- Trip interruption insurance — Up to $5,000
- Flight delay insurance — Up to $1,000
- Baggage delay insurance — Up to $1,000
- Lost or stolen baggage insurance — Up to $1,000
- Hotel burglary insurance — Up to $1,000
- Car rental collision/loss damage waiver — Decline the rental company's coverage
Purchase & Device Protection
- Mobile device insurance — Up to $1,000
- Purchase protection — 120 days (longer than most Visa Infinite cards at 90 days)
- Extended warranty — 2 additional years
Insurance Comparison
| Coverage | Platinum Amex ($399) | Gold Amex ($120) | Passport Visa Infinite ($150) |
|---|---|---|---|
| Emergency medical | $2M / 31 days | $1M / 25 days | $1M / 25 days |
| Over 65 medical | 10 days | 3 days | 3 days |
| Trip interruption | $5,000 | $1,500 | $1,500 |
| Trip cancellation | $2,500 | $1,500 | $1,500 |
| Purchase protection | 120 days | 90 days | 90 days |
| Extended warranty | 2 years | 1 year | 1 year |
Additional Perks
- Complimentary Hertz #1 Club Gold membership — Priority service and vehicle upgrades
- Amex Offers — Targeted discounts and cashback from participating merchants
- Amex Front Of The Line — Early access to concert and event ticket sales
Who Should Get This Card?
The Scotiabank American Express Platinum Card is ideal if you:
- Want a simple flat-rate card — 2x on everything means no category tracking
- Occasionally carry a balance — 9.99% interest saves hundreds versus standard rates
- Travel frequently and want lounge access — 10 passes per year at $399 is competitive
- Value strong insurance — 31-day medical, $5K trip interruption, 120-day purchase protection
- Don't meet high-income requirements — only $12,000 personal income needed
- Spend internationally — no FX fees with the full 2x rate maintained on foreign purchases
Who Should Look Elsewhere
- If you want maximum earn rates — the Gold Amex earns more per dollar on bonus categories
- If Amex acceptance concerns you — carry a Visa or Mastercard backup
- If you never carry a balance — the 9.99% interest advantage becomes irrelevant
- If you want a companion voucher — look at WestJet RBC World Elite Mastercard instead
Bottom Line
The Scotiabank American Express Platinum Card is a unique card in the Canadian market. No other card combines a flat 2x earn rate, 9.99% interest, 10 lounge passes, no FX fees, and premium insurance at a $12,000 income requirement. It's built for people who want a single, simple card that does everything well — especially those who occasionally carry a balance and want to avoid punishing 20%+ interest rates.
At $399/year, it requires meaningful spending to justify the fee. But with the 80,000-point welcome bonus, lounge access, FX savings, and potential interest savings, the math works out for frequent travellers and high spenders who value simplicity over category optimization.
