[REVIEW] Scotiabank Passport Visa Infinite Card
Scotiabank offers a very underrated travel credit card called the Scotiabank Passport Visa Infinite Card. Today, we are going to post a detailed review of some of the features of the cards and why I find it an underrated travel credit card.
Furthermore, there is a current promotion that expires in 5 days, so if you are looking to sign up for the card, now is as good a time as any!
Highlights of the Card
First off, let’s start with the highlights of the Scotiabank Passport Visa Infinite Card and then we break down the features.
- $139 annual fee (first year fee waived for applying before November 21, 2021)
- $50 annual fee for each supplementary card (first supplementary card free)
- Earn 30,000 Scotia Rewards sign up bonus points after spending $1,000 in the first 3 months (if you apply before November 21, 2021)
- Earn 10,000 Scotia Rewards bonus points after spending $40,000 in a calendar year
- Earn 2,000 Scotia Rewards bonus points after every $10,000 in addition to the first $40,000 in a calendar year
- Earn 5x the points on travel spending (up to $2,500 in spending, if you apply before November 21, 2021)
- Earn 2 points for every $1 spent on grocery, dining, entertainment and daily transit
- Earn 1 point for every $1 spent on all other purchases
- Receive 6 Priority Pass lounge passes
- No foreign transaction fees
- Have at least $60,000 in personal annual income, $100,000 in annual household income or $250,000 in assets under management
Annual Fee
The $139 annual fee may seem steep at first glance, but once we go through the benefits, it might not all that bad.
Either way, now that they are offering a first year fee waived promotion (expiring in 5 days, on November 21, 2021), now is a great time to give the card a try.
Furthermore, it is great that they do not have any annual fees on the first supplementary cardholder.
Sign Up Bonus
The 30,000 sign up bonus may seem temporary, but it has been the minimum sign up bonus since the card first launched.
We have yet to see something lower than that, however, we never know what they will do as their promotional period expires.
What I find valuable is the anniversary bonus.
Anniversary Bonus
The anniversary bonus is exactly the type of spending incentive that encourages clients to maintain their card year after year, while avoiding the frowned upon churning. The 10,000 bonus points can be converted into $100 value, which essentially brings down the annual fee from $139 to $39 ($139 – $100) upon renewal.
I like how they included a $40,000 spending bonus to qualify for the 10,000 bonus. I find this to be fair, because it allows Scotiabank to continue justifying to offer this annual bonus.
The additional 2,000 bonus points for every $10,000 of additional annual spending (above the $40,000 threshold) is just icing on the cake. That is an extra $20 in value at each increment, which can essentially nullify the annual fee.
Multiplier Spending Bonus
At the moment, they are offering a 5x bonus on travel spending. This will probably not be around for much longer, since it has been a fairly new bonus. Since travel is down anyway, it is easier for them to offer this bonus at the moment.
What is valuable is the 2x bonus for every $1 spent on grocery stores, dining, entertainment purchases, and daily transit purchases. Those are some valuable regular spending categories to capitalise on the bonus. The 2 points per dollar essentially comes out to 2% in value back.
Lounge Pass and Foreign Transactions
These two features are the key value as a travel card. The 6 lounge passes can more than justify / cover the $139 annual fee. So even if a cardholder does not reach the $40,000 in annual spending, as long as they can use and value all 6 lounges passes, the $139 annual fee is easier to swallow every year.
The waived foreign transaction fees is even more icing on the cake. So anyone who travels a lot and has large amounts of foreign spending. Not to mention get that much closer to the $40,000 annual spending threshold for the anniversary bonus.
Thoughts
In short, I find this card as an underrated travel credit card. The way the features are set up makes the card sustainable for Scotiabank. There is very little need to churn the card and there are enough incentive to maintain the card year after year.
It really is designed for people who travel frequently, as well as incur large annual spending (especially foreign transactions). There is definitely a lot of value to be had between the spending bonus, as well as the lounge pass and foreign transaction fee waiver.
As a final reminder, assuming that you meet the income requirements, the first year fee waived promotion expires in 5 days, so if you have been contemplating this card, now is the time to go for it!