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TheStreet Open House

Now Arriving: Scotiabank American Express Travel Rewards Cards Land In Canada

Stocks in this article: BNS

A recent Scotiabank poll underscores the value that Canadians place on rewards when selecting their credit card:

  • the large majority of Canadians (79 per cent) have a loyalty credit card;
  • over half (57 per cent) say collecting rewards or points is the most compelling reason to use their credit card;
  • 61 per cent of Canadians listed travel rewards as an important reason when selecting their credit card; and
  • 69 per cent of Canadians said they would consider switching credit cards if a loyalty program which better matched their needs or lifestyle became available.

"We're listening to our customers and to Canadians more broadly and understand that people are looking at the value that they get from their credit cards when it comes to rewards and that they would consider switching cards based on an offer that better meets their needs," said Mike Henry, Scotiabank Senior Vice President and Head of Retail Payments, Deposits and Lending. "This suite of cards is a new opportunity for individuals to turn routine purchases from gas stations, grocery stores, dining and entertainment into relevant and meaningful travel rewards."

"We've worked closely with Scotiabank to help bring new innovative products and greater benefits and choice to their customer base," said William Stredwick, Senior Vice President and Head of American Express Global Network Services - North America. "The cards that we have launched today with Scotiabank offer an excellent way for Scotiabank's customers to quickly earn travel rewards and enjoy the privileges and benefits associated with the American Express brand," added Stredwick.

This new suite of travel-oriented cards joins Scotiabank's broader package of credit and debit cards designed for Canadian savvy savers, movie lovers, hockey fans and travel enthusiasts.

Canadians interested in learning more about the Scotiabank American Express suite of cards can visit their local Scotiabank branch or go to Scotiabank.com/4xfaster.

About the polling data The Scotiabank Mega Poll was conducted online using Harris/Decima's panel. A total of 2,013 completed surveys were collected from a random sample of panel members across Canada. The study was conducted from June 18th to 28th, 2012. A probability sample of this size has a margin or error of 2.2 percentage points, 19 times out of 20.

About Scotiabank Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 81,000 employees, Scotiabank and its affiliates serve some 19 million customers in more than 55 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets of $670 billion (as at July 31, 2012), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

About American Express American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/companies/american-express, twitter.com/americanexpress, and youtube.com/americanexpress. Since 1996, American Express has been pursuing a strategy of opening its merchant network and card product portfolio to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, American Express has established more than 140 partnerships in 159 markets across the world. Learn more at www.americanexpress.com/gns.

Scotiabank Scotiabank.com/4xfaster American Express

BACKGROUNDER: Scotiabank American Express Suite of Cards

Feature highlights:

Scotiabank American Express Card

  • 2 points for every dollar spent on the card at gas stations, grocery stores and on dining and entertainment, 1 point for all other purchases with the card
  • No blackouts, no points expiry, no seat restrictions and no booking fees
  • Full-service travel agency and online booking tool to book flights, hotels, rental cars, cruises and vacation packages
  • Ability to redeem points at or after booking for travel including airfare, hotel, car rental, cruise and vacation packages. Points can also be redeemed for merchandise, and credits to Scotiabank investment and credit products
  • Highly competitive insurance benefits, such as Travel Emergency Medical (including travelers age 65+) and Rental Car Collision insurance
  • $39 annual fee. Additional card annual fee is $15 and the interest rates are 19.99% on purchases and 21.99% on cash advances, balance transfers and Scotia Credit Card cheques

Scotiabank Gold American Express Card

  • 4 points for every dollar spent on the card at gas stations, grocery stores and on dining and entertainment, 1 point for all other purchases with the card
  • No blackouts, no points expiry, no seat restrictions and no booking fees
  • Travel service with access to global concierge specialists
  • Ability to redeem points at or after booking for travel including airfare, hotel, car rental, cruise and vacation packages. Points can also be redeemed for merchandise and credits to Scotiabank investment and credit products
  • Highly competitive insurance benefits, such as Travel Emergency Medical (including travelers age 65+) and Rental Car Collision insurance
  • $99 annual fee (among the most competitive fee for a premium travel reward card currently on the market). Additional card annual fee is $29 and the interest rates are 19.99% on purchases and 21.99% on cash advances, balance transfers and Scotia Credit Card cheques

Scotiabank Platinum American Express Card

  • 4 points for every dollar spent on the card at gas stations, grocery stores and on dining and entertainment, 1 point for all other purchases with the card
  • No blackouts, no points expiry, no seat restrictions and no booking fees
  • Travel service with integrated travel and lifestyle booking concierge
  • Ability to redeem points at or after booking for travel including airfare, hotel, car rental, cruise and vacation packages. Points can also be redeemed for merchandise and credits to Scotiabank investment and credit products
  • VIP Pass, airport lounge access, car rental benefit
  • Highly competitive insurance benefits, including Travel Emergency Medical (including travelers age 65+) and Rental Car Collision insurance
  • $399 annual fee. Additional card annual fee is $99 and the interest rates are 19.99% on purchases and 21.99% on cash advances, balance transfers and Scotia Credit Card cheques

SOURCE Scotiabank - Products & Services

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