The Value of a Scotia Reward Point

The dollar value of 1 Scotia Reward Point is

Dollar value of 1 point Flexibility of points Can points cover taxes and fees?
$0.01 Strong Yes Recommends:

Scotiabank Gold American Express Card

  • 15,000 Scotia Rewards bonus points when you spend $1,000 within the first three months
  • Earn up to four points per dollar
  • Receive discounts and other special offers on hotels, airfare, car rentals, cruises and vacation packages

Scotia Rewards points are worth $0.01 each, and must be redeemed in increments of 5,000 at a value of $50 per 5,000 points. has calculated the value of a Scotia Reward point below.

5000 lowest redemption
÷ $50.00 value of
5,000 points
$0.010 value per point

Overall Flexibilty: Strong

Taxes and fees covered? Consistent value? Transferable to/from other rewards programs?
Yes Yes No
Yes, you can pay for taxes, fees, and surcharges using points Yes, points can be redeemed for travel in increments of 5000 points, worth $0.01 each. No, you cannot convert points to other loyalty programs
More than one airline involved in program? Can the points be used retroactively? Expiration date on points?
Yes Yes No
Yes, you can book on multiple airlines. Yes, Scotiabank allows you to pay off travel expenses with points at a later date (up to 12 months after charged to the card). No, there is no expiration date while you are an active member. Points expire 60 days after your account is closed however.

One of the unique features of the Scotia Rewards program is that you can make a travel purchase on your own, wait for it to show up on your online account and then apply your points towards the purchase. After you use your Scotia Rewards points towards a purchase, your account will be credited for the full cost in 7-10 days. The Scotia Rewards program also has a full service online travel agency, where you can use points to book travel.

Scotia Reward points can be used to cover taxes and fees.

Best Way to Use Your Scotia Reward Points

The best way to maximize how many Scotia Reward points you can earn is by using a Scotiabank credit card that rewards you more points for various purchase categories. For example, when using the Scotiabank Gold American Express Card, you receive 4 points for every dollar spent on gas, groceries, entertainment and restaurants, and 1 point for all other purchases.

Because of the program's felxibility, the best way to use your points would be to use a discount travel site (such as Kayak) to find the cheapest flight on the market and pay for it by applying your points to the purchase.

Lets take a look at an example below, to calculate the overall points earned per dollar spent, when using the Scotiabank Gold American Express Card.

Using the example spending profile below, we will calculate the total rewards earned a year.

Spend category Spending per month Spending per year Points per dollar Points earned per year
Groceries $300 $3,600 4 14,400
Gas $250 $3,000 4 12,000
Restaurants $200 $2,400 4 9,600
Entertainment $200 $2,400 4 9,600
Pharmacy $75 $900 1 900
Everything else $250 $3,000 1 3,000
Total $1,275 $15,300 49,500

The next step is to calculate the points earned per dollar spent:

49500 total points earned ÷ $15,300 total dollars spent =
3.2 points per dollar

In the above example, for every dollar spent, $0.32 were earned (3.2 points * $0.01) that can be used towards travel. A 3.2% return on a card is a great value.

However, the problem with this card is that it is an American Express card and many vendors will not accept it. If you are considering this card make sure the grocery stores and gas stations you go to accept American Express (for example Loblaws and Costco do not accept AmEx).

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