Today we continue our interview series with Brett Mooney, the Senior Vice President of Credit Cards at Scotiabank. He will share with us his thoughts on the changes to the Scotiabank Gold American Express® Card. Thank you for your time, Brett!
1) Please tell us about yourself. What is your role with Scotiabank?
I’m the Senior Vice President of Credit Cards and Unsecured Lending at Scotiabank and I’m responsible for the overall strategic direction and growth of this business.
2) Looks like there have been quite a few changes to the Scotiabank Gold American Express® Card, what prompted these changes?
These changes reflect the evolution of our customers’ needs. They told us they wanted to be rewarded for living their unique lifestyles. We responded by updating our card to meet their needs and wants.
3) What changes would you like people to pay close attention to?
One of my personal favourite changes to this card is removing foreign transaction fees – we are the only major bank in Canada to offer customers the 2.5% savings on their foreign transaction fees.
That’s a savings of $25 for every $1,000 spent abroad or online. On average, our customers save $150 a year on these fees by using this card.
We also have new accelerated earn categories. Our new eat in & out and watch & cheer categories offers 5x the points on groceries, restaurants, food delivery and meal subscription services – this is one of the highest earn rates in this category in the market. In addition, the new ride & drive and listen and stream categories reward customers with 3x the points on streaming services and on rideshares and daily transportation.
4) Can we expect other changes to this card in the near or medium future?
We’re always looking for ways to offer our customers more value and will continue to review our offerings to ensure we continue to win with our customers.
We’re excited about the changes we’ve made and know that our customers are too.
5) Can you give us a preview of what Scotiabank might be working on?
Scotiabank has an aspiration of becoming a top three player in credit cards in Canada and we’re really focused on delivering the best credit cards in the market. Not only have we refreshed our Scotiabank Gold American Express Card, but we have also made updates to our Scotia Momentum Visa Infinite Card which you will hear more about in the coming months. This year, we also launched what we believe is the single best small business credit card solution – the new Scotiabank Passport Visa Infinite Business Card. It’s the only small business credit card that offers customers 1.5 reward points on all purchases, no foreign exchange fees and 6 complimentary lounge passes.
And this is all in addition to our stellar Scotiabank Passport Visa Infinite Card which we introduced last year.
Our journey now is to continue to deliver the best value and rewards for our customers.
6) On a more general note, what advice would you give travelers and “Pointshoggers” out there?
Look at your lifestyle and determine what’s important to you and how you want to be rewarded. If you love to travel for example, saving the 2.5% on foreign transaction fees can represent a huge savings. So why not choose a card that can help you save while doing what you love?
7) Thank you for your time, do you have any closing thoughts?
The Scotiabank Gold American Express Card comes with some great advantages including the Scotia Rewards program, which is one of the most popular travel rewards programs within Canada, and offers one of the most flexible rewards programs with more choice in where and how customers can earn and redeem points on purchases.
In addition, our customers have the opportunity to take advantage of exclusive Amex benefits such as the Amex Invites and Front of the Line program. Card members can purchase Front Of The Line® presale tickets to some of the most in-demand concerts, theatre productions, restaurants, and special events before the general public.