With more than 70 travel rewards credit cards available to Canadians, it’s hard to get excited when a new card gets introduced.

However, Scotiabank’s new line of American Express cards should capture the attention of travel rewards enthusiasts across the country.  Of the three new cards issued, the Scotiabank Gold American Express card is the best of the bunch.

Scotiabank Gold American Express

With the Scotiabank Gold American Express card, you’ll earn four points for every dollar spent on groceries, gas, dining and entertainment.  It comes with a $99 annual fee, but you’ll get 20,000 bonus points with your first purchase – worth $200 in travel rewards.

You can purchase travel on your card from any travel provider – not just through the Scotia rewards travel centre – and you can redeem points for a complete trip, including taxes and surcharges.

The flexibility and high earning potential make this card one of the best on the market today, comparable to the TD First Class Visa Infinite and the BMO World Elite MasterCard, but ranking slightly behind the Capital One Aspire Travel World MasterCard for the top travel rewards credit cards in Canada.

A couple of features really stand out with the Scotiabank Gold American Express card.

First is the chance to earn four times points, not only on groceries and gas, but also on dining and entertainment.  If you spend a lot on dining and entertainment, a card like this can come in handy for everyday use.

Related: Best Credit Cards For Groceries And Gas

You also have up to 12 months to redeem your eligible travel-related purchases for points.  That means you can enjoy your vacation now and still apply points toward your travel purchases up to a year later.

While there’s a lot to like about this card, there are some drawbacks to using it as your primary credit card.

You’ll only get one point for every dollar spent on travel, so if you spend a lot in this category, as many business people do, you’ll miss out on higher earnings you get with other top travel rewards credit cards.

Another downside with American Express cards is that they’re not as widely accepted as Visa and MasterCard, which can be frustrating when you’re trying to maximize your points.

Related: How To Use Your Non-Amex Rewards Card At Costco

That’s why it’s a good idea to carry three credit cards – a Visa, MasterCard and American Express – so you can take full advantage of the benefits of each card.

Whether you’re in the market for a top travel rewards card, or considering a rewards card for everyday use, Scotiabank’s Gold American Express is a competitive card that’s worth a look.

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