Scotiabank Gold American Express vs Wealthsimple Credit Card
The short answer: for most people the Scotiabank Gold American Express is the better overall card — we rate it 4.7/5 and it shines if you want grocery shoppers and travellers who want no foreign transaction fees. Choose the Wealthsimple Credit Card instead if your priority is no-fee, no-fx everyday cash back — especially for wealthsimple clients.
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| Our rating | 4.7 | 4.4 |
|---|---|---|
| Annual fee | $120/yr | No annual fee |
| Welcome bonus | ~$650 | None |
| Foreign transaction fee | None | None |
| Rewards type | points | cash back |
| Top earn rates |
|
|
| Purchase interest | 20.99% | 20.99% |
| Income required | None stated | None stated |
| Best for | Grocery shoppers and travellers who want no foreign transaction fees | No-fee, no-FX everyday cash back — especially for Wealthsimple clients |
| Apply now | Apply now |
Scotiabank Gold American Express
Our winnerA do-it-all rewards card: category-leading grocery earning, strong dining and entertainment multipliers, and no FX fee for when you travel or shop in USD.
Wealthsimple Credit Card
A standout no-fee card: a flat 1% with zero foreign transaction fees is rare, and Wealthsimple clients can push it to 2%. A no-fuss everyday and travel card.
Frequently asked questions
Is the Scotiabank Gold American Express or the Wealthsimple Credit Card better?
For most Canadians, the Scotiabank Gold American Express is the better overall pick (we rate it 4.7/5 vs 4.4/5). It's especially strong if you want grocery shoppers and travellers who want no foreign transaction fees. The Wealthsimple Credit Card can still win if you specifically want no-fee, no-fx everyday cash back — especially for wealthsimple clients.
Which card has the lower annual fee?
The Wealthsimple Credit Card has the lower annual fee (no annual fee vs a $120 annual fee).
Do either of these cards charge foreign transaction fees?
Scotiabank Gold American Express: no foreign transaction fee. Wealthsimple Credit Card: no foreign transaction fee.