Just as we were lamenting the demise of Marriott Visa, along comes Scotiabank with a card that has some cool features.
Scotiabank just recently announced a brand new visa card called the Scotiabank Passport Visa Infinite card.
Lets look at what it offers and I will summarize how it stacks up.
First off, you earn 25,000 bonus points with your first $1,000 in everyday purchases in the first 3 months.
Going forward, you can earn 2 Scotia Rewards® points on every $1 you spend on eligible grocery stores, dining, entertainment purchases, and daily transit purchases (including buses, subways, taxis and more) and earn 1 Scotia Rewards point on every $1 you spend on all other eligible purchases.
Next, you enjoy Complimentary Airport Lounge Access. Note there is a limitation – you enjoy a complimentary Priority Pass membership, plus 6 only free visits per year from the date of enrolment.
The first additional card comes with no annual fee.
It also comes with a complimentary Avis® Preferred Plus membership.
And finally, this is the only benefit that interests me personally – No FX Mark-Up. You will not be charged a Foreign Currency Conversion mark-up on international foreign currency purchases made online or outside of Canada. Only the exchange rate applies.
Now, let me explain why I feel the benefits mentioned above are not worth it in my opinion.
Scotia Reward Points:
The initial 25, 000 points seem to be worth a mere $175, and going forward, 14,000 points earned through purchases are worth $100. Thats a lot of spend. I would rather spend on my Amex Cobalt to get 5X or on Amex SPG or on MBNA Alaska Mastercard as I can redeem them for flights.
Complimentary Airport Lounge Access:
Getting a complimentary Priority Pass is pointless if you need to pay for every visit beyond the 6th visit. This is not ideal if you travel with your family. Amex Platinum comes with a complimentary Priority Pass and unlimited visits for you and a guest or you and your family.
Annual Fee:
I didnt expect it to be free with the perks it is offering, but with an annual fee of $139, it would have been nice if it was First Year Free or 50% of the annual fee for the first year.
So, in conclusion, I would be inclined to get this card only for the No FX markup, but cant really justify paying $139 annually just for that feature.
Thanks Scotiabank but I’ll pass.