The Scotiabank Passport® Visa Infinite* Card is one of the most talked-about travel cards in Canada, offering numerous benefits for frequent travelers. Designed for those who enjoy seamless international transactions, it stands out as a top choice due to its no foreign transaction fees, extensive rewards program, and luxury travel perks.
This card is aimed at individuals looking for a versatile credit card that not only supports day-to-day purchases but also provides exclusive privileges, from airport lounge access to robust insurance coverages.
Key information about the credit card
How does the annual fee work?
The Scotiabank Passport® Visa Infinite* Card has an annual fee of $150, which is quite competitive considering the range of travel-related benefits it offers. For those looking to maximize their rewards and travel perks, this annual fee can easily be outweighed by the value you’ll receive.
While some other cards may offer no annual fee, the inclusion of perks like no foreign transaction fees and extensive travel insurance make this card worth the cost. Additionally, your first supplementary card comes with no annual fee for the first year, providing extra value for families or couples who share expenses.
How is the credit limit determined?
Scotiabank determines the credit limit for the Passport Visa Infinite* Card based on the applicant’s creditworthiness, income level, and financial history. With a minimum credit limit of $5,000, this card is geared towards those with higher financial stability, and Scotiabank takes into account factors such as annual income, household assets, and credit score during the application process.
If you meet the required income or asset thresholds, you may qualify for a higher limit, which is beneficial for both everyday spending and larger travel-related purchases.
Advantages of the credit card
- No foreign transaction fees: This is a major highlight, especially for international shoppers and travelers. You’ll save 2.5% on every foreign transaction you make.
- Scene+ points system: Earn points across multiple categories like groceries, dining, entertainment, and more. The flexibility of this rewards program means you can redeem your points for travel, shopping, and experiences.
- Complimentary airport lounge access: With six complimentary visits each year, this perk makes your travel experience much more comfortable, especially during long layovers.
- Extensive travel insurance: The Scotiabank Passport® Visa Infinite* Card comes with comprehensive insurance coverage that includes travel medical insurance, trip cancellation, and baggage insurance, ensuring you’re protected on your journeys.
- Avis Preferred Plus membership: Save on car rentals and enjoy priority services with this complimentary membership.
Standout advantage
One of the most notable advantages of the Scotiabank Passport® Visa Infinite* Card is its no foreign transaction fees. For individuals who frequently shop online from international retailers or travel abroad, avoiding the standard 2.5% foreign exchange fee can lead to significant savings over time. This feature alone makes the card stand out from many competitors in the travel credit card market.
Disadvantages
- Annual fee: At $150, this may be a deterrent for those who are not frequent travelers or do not fully utilize the card’s benefits.
- Higher interest rates: With a purchase interest rate of 20.99% and a cash advance rate of 22.99%, carrying a balance on this card can become costly.
- Income requirements: The minimum annual income requirement of $60,000 may exclude some potential applicants who otherwise would benefit from the card’s features.
A standout disadvantage
The main disadvantage of the Scotiabank Passport® Visa Infinite* Card is its high income requirement. With a minimum annual income of $60,000 or household income of $100,000, this card targets individuals in a higher income bracket. For those who do not meet this criterion, the card and its rewards become inaccessible, limiting its availability to a broader audience.
Who can apply for this card?
To apply for the Scotiabank Passport® Visa Infinite* Card, applicants must meet specific eligibility requirements. The minimum income requirement is one of the most notable, as individuals need to have an annual personal income of at least $60,000, or a household income of $100,000.
Additionally, applicants can qualify by having a minimum of $250,000 in assets under management. Beyond financial qualifications, applicants must be at least 18 years old, have a stable credit history, and be a resident of Canada. While the card is not designed for those with poor credit, it does offer ample benefits for those who meet the required financial thresholds.
How to apply for the Scotiabank Passport® Visa Infinite* Card
For the website
The most convenient way to apply is through the Scotiabank website. Simply navigate to the credit card section, find the Scotiabank Passport® Visa Infinite* Card, and click “Apply Now.” From there, you’ll be asked to provide personal details such as your name, address, employment information, and income.
Once submitted, Scotiabank will conduct a credit check to determine your eligibility. This online process typically takes a few minutes, and you’ll receive a response shortly after. If approved, you’ll be able to start earning Scene+ points almost immediately upon receiving your card.
Through the app
You can also apply for the Scotiabank Passport® Visa Infinite* Card directly through the Scotiabank mobile app. After logging into your account, simply head to the credit card section and follow the prompts to submit an application.
The app offers the added convenience of managing your card, checking your rewards, and even making payments, all in one place. Plus, if you’re already a Scotiabank customer, applying through the app could streamline the process, as some of your information will already be pre-filled.
At the branch
For those who prefer a face-to-face interaction, you can visit a local Scotiabank branch to apply for the Passport® Visa Infinite* Card. When you arrive, speak with a banking advisor who can guide you through the application process and answer any questions you may have.
This method might be particularly beneficial for individuals who are new to Scotiabank or those who prefer to review the card details and perks in person. Be sure to bring any necessary documentation, such as proof of income and identification, to ensure the application process is smooth and efficient.
