Scotia Rewards is the loyalty program of Scotiabank, one of Canada’s leading financial institutions. The program is designed to reward customers with points based on the amount of the purchase price of any purchase they make using their Scotiabank credit card.
With a range of credit cards that earn Scotia Rewards Points, this program allows you to earn points on your everyday purchases, which can then be redeemed for travel, merchandise, gift cards, and more.
This Scotia Rewards Points review explains everything you need to know about the loyalty program, how it works, and how to redeem them.
What is the Scotia Rewards Program?
The Scotia Rewards Points Program is a free reward program that offsets a portion of the purchasing costs of Scotiabank cardholders.
The program is similar to rewards programs offered by other big banks in Canada, like RBC and BMO. It is available for every good-standing Scotia cardmember holding an eligible Scotiabank card, such as:
- Rewards Visa Card
- Passport Visa Card
- Platinum American Express Card
- American Express Card
- Passport for Business Visa Card
- Gold American Express Card
- ScotiaCard Debit Card
- Passport Visa Infinite Card
- Passport Visa Infinite Business Card
If you have more than one Scotiabank card, you can combine your points by transferring them from one card to another.
However, the forthcoming Scotiabank Scene+ Points automatically combines all your reward points into one account.
How Does the Scotia Rewards Program Work?
The Scotiabank points program works like other reward programs. You earn points for making purchases using an eligible Scotiabank card.
How many points you earn depends on your card type and purchase. When you purchase items with your card, you accumulate points based on the value of the purchase and then redeem the points for rewards when they have accumulated enough.
You can redeem your accumulated points for merchandise, gift cards, experience packages, airfare, hotels, and other travel-related rewards. Scotia rewards offer more flexibility when booking travel, unlike its competitors.
However, you can’t earn Scotia points on interest, returns, cash advances, payments, Scotia Credit Card Cheques etc.
How to Earn Scotia Rewards Points
Chances are you’ve already accumulated enough Scotia points worth hundreds of dollars. But if you’re just starting, you can earn reward points with your Scotia program card.
It’s essential to note that the amount of points you earn depends on the card you hold and the type of purchase.
That said, the following highlights Scotia points per different Scotia cards:
- 1 point = per every $1.00 purchase using the ScotiaGold Passport for Business Visa Card or the ScotiaGold Passport Visa Card account.
- 1 point = per every $2.00 purchase using the Scotiabank Rewards Visa Card account.
- 5 points = per every purchase using the Scotiabank Passport Visa Infinite Business Card account.
- 2 points = per every $1.00 purchase on dining, grocery, daily transit, and entertainment using the Scotiabank Passport Visa Infinite Account.
- 1 point = per every other $1.00 purchase using the Scotiabank Passport Visa Infinite card.
Furthermore, Scotiabank offers bonus points for Scotiabank Passport Visa Infinite cardholders. The following is a breakdown of Scotia bonus points:
- 10,000 points = per initial $40,000 purchases annually.
- 2,000 points = per additional $10,000 purchases after reaching the initial $40,000 purchases annually.
What are Scotia Rewards Points Worth?
The value of Scotia points depends on the type of redemption. While some redemption categories have fixed values, others have variable values.
Here are some of the redemption categories of Scotia redemption and their values:
Redemption Category | 1 Point Value |
Travel | $0.01 |
Cashback and statement credit | $0.008 |
Gift cards | $0.00781 |
Charity | $0.00735 |
As you can see, 1 cent is the value of every 1 Scotia point on travel. This is one of the highest points values in the industry. All you need is to earn 10,000 points to get 100 Canadian dollars.
You can increase the value of your Scotia points by transferring them to SCENE points. These points give you free access to meals, movies and more.
As a result, it’s essential to do value calculations when trying to get the best out of your reward points.
How to Redeem Scotia Rewards Points
You must accumulate 5,000 points ($50) before redeeming your Scotia points.
Scotia points are redeemable for different redemption categories, such as:
- Travel Booking: You can book travel with your points through the Scotia Rewards Travel Service. This allows you to enjoy competitive travel rates, up to 25 hours Best Price Guarantee on Airfare, discounts, etc. Furthermore, you can redeem it for hotel discounts, flights, cruises, car rentals and more.
- Book Travel With Apply Points to Travel: This feature allows you to book travel with your desired travel service provider using your reward points for up to 12 months.
- Apple and Best Buy Merchandise: You can redeem your points at Apple and other top merchandise for prepaid cards, physical cards, accessories and more.
- Credit: You can redeem your Scotia points as a credit statement sent directly to your Scotia card through the “Point for Credit” feature.
- SCENE Points: Converting or transferring your Scotia points to SCENE will maximise the value of your points. SCENE points give you access to free meals, movies and more.
However, you must have a good-standing Scotiabank credit card or bank account to redeem or transfer your points.
You’re responsible for any applicable taxes on your redeemed points. Where applicable, you must report the reward points in your annual tax income return.
Update on Scotia Reward Points Value
Scene+ replaced the Scotia points and SCENE programs on December 31, 2021. This development will bring major changes to earning reward points and redemption categories.
The Scene+ aims to simplify earning and redemption for Scotia cardholders with access to new partners and brands.
Be ready for more earning opportunities and redemption for dining, shopping, banking, travel and more.
You don’t have to worry about anything with the Scene+ launch. Your current points will be automatically transferred to your Scene+ account at the same value once you’re a SCENE or Scotia points member before December 31, 2021.
How to Transfer SCENE Points to Scotia Rewards
Transferring your reward points to SCENE points will increase the value of your points by giving you free access to meals, movies and more.
However, SCENE points don’t have the same value as Scotia points. But you can transfer SCENE points to Scotia points and vice versa to get your desired value.
All you need to transfer SCENE points to Scotia points is to log in to the Scotia Rewards website and:
- Navigate to the Redeem Now section
- Click “Points Conversion”
- Select the option of converting SCENE Points to Reward points
- Verify your SCENE Card and choose a qualified Scotiabank Program Card
- Type the number of points you want to transfer
- Review and confirm your transfer
The transfer will appear on your account immediately after confirming it. However, you can’t reverse or cancel a submitted transfer.
How to Maximize Your Scotia Rewards Points
You need to maximise your reward points to get the most out of your Scotia card. Here are quick steps on maximising Scotia points:
- Register for both a Scotiabank Credit Card and a Scotiabank Debit Card account.
- Make everyday purchases with your program card.
- Set your program card as your default payment method on your favourite online retailers and apps.
- Set a recurring payment on your monthly bills (phone, cable, utilities, etc.).
- Register supplementary cards for your family members to make purchases and collect points for you (you will be liable for the annual card fees and all charges on the cards).
Besides the above steps, here are two long-term tips for maximising your Scotia points:
1. Social Rewards Travel Redemption
As mentioned previously, the value of Scotia points depends on the type of redemption, making it essential to do value calculations to determine the best value.
Accordingly, 1 cent is the value of every 1 Scotia point on travel. This is one of the highest points values in the industry.
You can book travel with your points through the Scotia Rewards Travel Service. This allows you to enjoy competitive travel rates, up to 25 hours Best Price Guarantee on Airfare, discounts, etc. You can also redeem for hotels, flights, cruises, car rentals and more.
Furthermore, with the Apply Points to Travel feature, you can book travel with your desired travel service provider using your reward points for up to 12 months.
That said, 5,000 points is the minimum redemption point for travel, equal to $50 in value.
2. Scotia Rewards Bonus
Earning a reward bonus is one of the long-term strategies for maximising your Scotia points. You can earn the following reward bonuses with your Scotiabank Passport Visa Infinite card:
- 10,000 points = for initial $40,000 purchases annually.
- 2,000 points = an additional $10,000 in purchases after reaching the initial $40,000 in purchases annually.
You can get all the above reward bonuses if you use your Scotiabank Passport Visa Infinite card for everyday purchases and recurring bill payments.
Scotia Rewards Alternatives for Canadians
Scotiabank is not the only provider of reward points in Canada. Canada has different reward programs with competitive programs depending on your spending habit.
The following are some alternatives to the Scotia reward points program in Canada:
1. BMO Air Miles World Elite Mastercard
- Annual Interest Rate on Purchase: 20.99%
- Annual Fee: $120
- Earning Rewards: 1 mile per every $12 spent on a credit card and 3 miles per every $12 eligible purchase.
The BMO Air Miles World Elite Mastercard offers miles for making eligible purchases. Also, the card provides a 15% discount on all North American AIR MILES flights.
Even though the BMO Air Miles World Elite Mastercard charges an annual fee, it waives it when you reach 2,000 AIR Miles Bonus Miles and allows pop-up information.
This card requires an average of $80,000 annual personal income or $150,000 a household.
2. American Express AIR MILES Platinum Credit Card
- Annual Interest Rate on Purchase: 20.99%
- Annual Fee: $120
- Earning Rewards: 1 mile per $5 spent on food and drink, gas, and local transit; 1 mile per $10 spent elsewhere
The American Express AIR MILES Platinum Credit Card also rewards cardholders with miles upon making eligible purchases.
Unlike other credit cards, this card offers a welcome bonus of 2,000 miles when you spend $1,500 during your first three months.
3. TD Reward Points Visa Card
- Annual Interest Rate on Purchase: 19.99%
- Annual Fee: $0
- Earning Rewards: 2 points for every $1 eligible purchase
The TD Reward Points Visa Card is one of Canada’s top alternatives to Scotia rewards. This card offers 2 points for every $1 eligible purchase.
Furthermore, this card offers 15,152 points by keeping your account active, open and in good standing during your first 90 days of card membership.
Overall, you will earn up to 150,152 a year when you spend up to $10,000 with the TD Reward Points Visa Card.
When you apply for the card by May 29, 2022, you will get a 6-month 9.99% promotional interest rate on purchases without an annual fee. This is one of the industry’s lowest that will help you save more on interest and fees.
4. RBC Rewards+ Visa
- Annual Interest on Purchase: 19.99%
- Annual Fee: $0
- Earning Rewards: 1 point for every $1 spent on groceries, gas, and drug store. 1 point for every other $2 purchase.
The RBC Rewards+ Visa is another top alternative to Canada’s Scotia reward points program, offering rewards without an annual fee.
What I like about the RBC Rewards+ Visa card is its multiple reward-earning options. You can earn RBC reward points by:
- Spending a minimum of $1 on grocery gas and drug store = 1 point
- Making every other $2 purchase = 1 point
- Welcome bonus = 1,500 points
- Earn 1,500 points as a welcome bonus
- Going digital during your initial 60 days of membership = a maximum of 3,500 points
Several earning opportunities with the RBC Rewards+ Visa card make it a worthy alternative to Scotia rewards.
5. BMO Rewards Mastercard
- Annual Interest on Purchase: 19.99%
- Annual Fee: $0
- Earning Rewards: 1 point for every $1 purchase
The BMO Rewards Mastercard is a no-fee Mastercard offering reward points for making eligible purchases.
This card offers up to 10,000 reward points as a welcome bonus when you spend $1,000 during your initial three months of card membership.
Furthermore, the card offers a 9-month 1.99% balance transfer interest rate with a 1% transfer fee. This will help you pay off your high-interest debt fast and cost-effectively.
6. CIB Aventura Visa Card
- Annual Interest on Purchase: 20.99%
- Annual Fee: $0
- Earning Rewards: 1 point for every eligible purchase
The CUV Aventura Visa Card is another alternative to Scotia rewards in Canada, offering reward points without an annual fee.
Even though this card charges a 20.99% annual interest rate on purchases, it compensates with multiple rewards earning opportunities. You can earn rewards eth this card by:
- Making your first purchase = 7,500 points
- Making any eligible purchase = 1 point
- Completing all activities within 60 days of approving your card = 2,500
Besides that, this card offers a 90-day Purchase Security Insurance and free customized travel booking and trip planning.
7. MBNA Rewards Platinum Plus Mastercard
- Annual Interest Rate on Purchase: 19.99%
- Annual Fee: $0
- Rewards: 4 points on all $1 eligible purchases
The MBNA Rewards Platinum Plus Mastercard also deserves mention in the list of Scotia rewards alternatives in Canada.
This card offers introduction rewards of 4 points on all $1 eligible purchases without an annual fee for your first 99 days of membership and 2 points after.
Besides that, the card offers a birthday bonus of 10% of all your first-year rewards points.
8. Marriott Bonvoy Bold Credit Card From Chase
- Annual Interest Rate on Purchase: 15.99%
- Annual Fee: $0
- Rewards: Variable
There’s no complete mention of the top alternatives to Scotia rewards without the Marriott Bonvoy Bold Credit Card from Chase.
This card offers one of the industry’s lowest interest rates on purchases (15.99%) without charging an annual fee.
When you spend $1,000 during your first three months of membership, you will get 30,000 bonus points.
Here are ways you can earn reward points with the Marriott Bonvoy Bold Credit Card from Chase:
- Spend at least $1 at Marriott Bonvoy partner hotels = 14x points
- Use Marriott Bonvoy Bold Credit Card = 3x points
- Qualify for Marriott with Silver Elite Status = 1x points
- Make other travel purchases = 2x
- Make every other purchase = 1x
Besides the multiple reward-earning opportunities, low-interest rate and no annual fee, this card doesn’t charge foreign transaction fees. It had a 120-purchase protection for up to $50,000.
Scotia Rewards Vs. American Express Membership Rewards
The American Express Membership Rewards (MR) points program is one of the competitors of the Scotia points program.
MR has various redemption options, including travel, airline transfers, hotel transfers, cash credit, Ticketmaster, gift cards, Merchandise, and Amazon.
Like eligible Scotia cardholders, Amex personal and business credit cardholders earn 1 point for every $1 spent using an eligible American Express Card.
However, the American Express Membership Rewards (MR) has a slightly higher reward points value than the Scotia program.
While 1 cent is the maximum reward value of Scotia points, the MR program offers up to 2 cents value of 1 point on airline transfers.
Furthermore, the MR program allows you to buy extra points for redemption. This option is not available in the Scotia point program.
MR has more competitive reward and redemption options than the Scotia program.
However, you can quickly maximise your Scotia points by accumulating reward bonuses annually and using your program card for everyday purchases.
Final Thoughts on Scotia Rewards Point Review
Scotia Rewards is a free loyalty program that rewards Scotiabank cardholders with points for every purchase they make with their eligible card.
These points can be redeemed for travel, merchandise, gift cards, and more. The points’ value depends on the redemption type, but Scotia Rewards points offer more flexibility in travel bookings than its competitors.
You can earn bonus points using the Scotiabank Passport Visa Infinite card and combining points from different cards.
To redeem points, you need to accumulate at least 5,000 points, and you can use them for travel booking, merchandise, credits, or transfer them to SCENE points.
Scotia Rewards is a beneficial program for customers who want rewards on their everyday purchases. This Scotia Rewards Point review is positive.
FAQs on Scotia Rewards Point Review
What are Scotia Rewards Points Worth?
Scotia points vary in value according to the redemption category. However, 1 cent is the value of 1 point value for travel. This is the highest value point of the Scotia points program.
What is the Best Way to Use Scotia Rewards?
The best way is to redeem your Scotia points for travel to receive the higher value of 1 cent. Qualifying for Scotia reward bonuses will also increase your points in no time.
Overall, using your program card for everyday purchases and recurring bill payments is a quick way of maximising your Scotia points.
Are Scotia Rewards Transferable?
You can’t transfer Scotia points to another person but can transfer them between your Scotia program cards.
For example, you can transfer your Scotia points to SCENE points and vice versa.
What Does Scotia Rewards Get You?
Scotia points get you cash and statement credit, gift cards, travel deals, the latest techs, prepaid cards, discounts, Apple and best buy merchandise, etc.
Furthermore, you can convert your reward points to SCENE points to get free access to meals, movies and more.
Do Scotia Rewards Points Expire?
Scotia points have no expiry date. However, you can’t earn or redeem points if your account is not in good standing.
That said, you only have 60 days to redeem all your points when you close your account.
If you have more questions or concerns about this review, kindly drop them in the comment section.
