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TheStreet Open House

Ability To Earn Points Quickly Top Reason For Choosing A Travel Rewards Credit Card: Scotiabank Survey

Stocks in this article: BNS

Other findings on how Canadians are using their travel rewards program:

  • 74% of travel reward credit card holders who redeemed points in the past 12 months redeemed for travel while 27% redeemed for non-travel rewards
  • Two-thirds of travel rewards program members (64%) flew in the past year
  • Nearly half of travel rewards program members (46%) redeemed points within the past year.
  • 84% of flights taken by travel rewards program members in the past 12 months were for personal reasons and included other family members, while only 16% were for business travel.

The Scotiabank American Express suite includes three cards: the Scotiabank American Express Card, the Scotiabank Gold American Express Card and the Scotiabank Platinum American Express Card. With these cards, cardmembers can earn points that can quickly be turned into travel benefits with no blackout periods. The Scotiabank Gold American Express Card, for example, carries one of the best levels of value in the market, providing up to four points for every dollar in purchases at gas stations, grocery stores and on dining and entertainment and carries a $99 annual fee, one of the most competitive fees in its class. For more information on the Scotiabank suite of American Express cards please visit scotiabank.com4xFaster

About the polling data For this survey, TNS conducted interviews online among 1,002 English speaking Canadians aged 25 to 55 with annual household income of $50,000 or more and who belong to a travel rewards program . The survey was conducted between June 4 th and 10 th, 2013.

About Scotiabank Scotiabank is a leading multinational financial services provider and Canada's most international bank. With more than 83,000 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. In December 2012, Scotiabank became the first Canadian bank to be named Global Bank of the Year and Bank of the Year in the Americas by The Banker magazine, a Financial Times publication. With assets of $754 billion (as at April 30, 2013), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

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

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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