 Hello everyone, this is financial author Amit Dan of amitdan.com on this channel you'll find financial travel and more videos just like the one you're watching right now. If you like what you see, please give it a thumbs up and consider subscribing. Hello everyone, this is financial author Amitdan of amitdan.com. Today I'll have another episode of unboxing and review video and today I'll be presenting Scotia Passport Visa Infinite Great Card. This is a new great card and it was actually just released last Monday which was March 12th and I called Scotia and asked them to send me one and I received it yesterday which was March 17th. So they were very fast sending me this card and today I'll be opening up this card and I'll talk about all the benefits and features. Stick to the end of the video because I'll be talking about how does this card compare with the BMO World Elite MasterCard and whether it should be keeping this card which is the Scotia Visa Infinite Passport Card or it should be keeping the BMO World Elite MasterCard. So let's start with the unboxing. So this is the full package or envelope I received from Scotia and this is the back side of the envelope and let's take out the whole thing. So I'll just take out everything from here and as you can see that it's empty, there's nothing here. So let's just put this aside here. So this is the introductory letter which should have the great card inside here. So I'll just set it aside for now and let's take a look at other literature or brochure what they have. So I'm gonna start from the bottom and here we just have a revolving great agreement. So there's not much in here. It just tells you about all the agreements and everything you have with this card like the credit limit, applying your payment and changing your address and all sorts of stuff. So we don't need to go through it. So I'll just put it here and then we have here compliant resolution. So this is what to do in case you have a complaint or you have a complaint or you have anything and it just spills out everything step by step. So there's not much in here. So I'll just set it aside for now. Let's put it here and then looks like we have the literature itself and let's go through the literature because we need to check a lot of things, what type of benefits and features this card is offering. So the name of the card is Scotia Bank Passport Visa Infinite and here's the front page. So this is packed and loaded with travel benefits and rewards. Thank you for choosing Scotia Passport Visa Infinite. Scotia has another credit card which is the Scotia American Express Gold Travel Credit Card. So this card Scotia Passport Visa is in direct competition with that card and I have a feeling that most people would prefer this card because of the features which I'll talk about very shortly. So some of the main features which they are pointing out right away is that it gives you airport lounge access, no foreign currency conversion markup and rewards on everyday purchases. 24 of 7 customer support and you have to activate your card. So let's look at the reward structure which is right here. So with this card you are going to earn 2 points on every dollar spent on eligible grocery, dining, entertainment and daily transit purchases which includes buses, subways, taxes and more. So you are getting double point or one extra point which is 2 cents per dollar return on this selected category which is okay. It's not a big deal. Many other cards will give you 2 points and the one point you will be earning on everything else which is a short of giving you points because you can see the contrast here that this is a travel credit card and it's not giving you any bonus points on travel expenses so that's a reason you may not want to even use this for travel spending which I will explain you if you don't do that what is the point of keeping this card. So now here they are just telling you about everything else. Now as you may have noticed here that this card has airport lounge access which the American Express Scotia Gold Card doesn't have. It just gives you discounted annual membership fee not even the full membership fee but this card is giving you the annual membership fee free plus 6 lounge passes. So there should be more information inside here which I will talk about it. Let's just take a look here. So here it talks about that if you are spending 40,000 in purchases annually then you are going to be receiving 10,000 bonus points. So it's just for each additional 10,000 in purchases in the same year you will earn 2,000 bonus points. It's not a lot you know if you are spending 40,000 dollars on one card then you should be getting more than that it's not 10,000 bonus points it's not much it's not a lot you know it's like 100 dollars. So I wouldn't you know this is not that great feature to keep customers hold on to this card just for spending just to make people spending money on this card instead of other cards. So here let's take a look at some other features here so you can apply points to travel feature and you can book. Okay so this feature Scotia has same as with the other credit card which is the Scotia Gold American Express and I like this feature it gives you freedom. So what it means that let's say you can either purchase directly from using your card or you can purchase using your points offsetting your cost of the purchase. Let's say if you have purchased using your card then you pay the bill and then later on you can use your points to you know to pay back those purchases. So you will get back money for the travel expenses using plus so you can do it either before or after. So that's a good feature to have because you know it doesn't force you to use only points or only specific websites to spend your travel money or spend your real points. So you can use real points to buy something or to book a travel or you can use a credit card to book a travel and then later on you can offset your cost using your points. So that's a very good feature to have and it has other some other options for example take advantage of our brand name merchandise viewers. Okay so that's nothing important here. One of the features this card is offering that you can convert your points to SIM points. You can transfer Scotia's points to SIM points so if you like movies then maybe you can do that. So it's up to you. It's another you know freedom or another feature or another flexibility you have. Now here's the most important thing for which this card has created a buzz on the Canadian credit card market. No foreign currency conversion markup. With your Scotia Bank passport visa infinite card you will not be charged a foreign currency conversion markup on international foreign currency purchases online or outside of Canada. Only the exchange rate applies. Okay in Canada we don't have that many no fee foreign transaction fee cards. Marriott has pulled out of Canadian market so Marriott viewers visa credit card is no longer available and there's another foreign currency no zero foreign currency conversion card. We used to have is the Amazon card Amazon visa credit card or Chase Amazon credit card which is no longer in Canada as well. So by offering this no foreign currency credit card from for Canadians Scotia Bank is the first major bank in Canada offering this feature. So for example if you look at TD, RBC, BMO or any other banks that do not have any travel credit card which has zero foreign transaction fee. So what happens when you use other cards to buy something online using other currency than Canadian or if you go and travel you pay a 2.5% foreign currency conversion fee and there is a currency exchange rate markup. So that means they're going to charge you higher than what you're supposed to be charged. The markup can be high enough to make your foreign currency fee cost 3.5% or 3% in addition to the fee you're already paying. So let's say you're paying 2.5% fee and then due to the markup you're going to be ending up paying like 3% or 3.5% in total. So this is where this card stands out comparing to other travel credit cards offered by the major Canadian banks because we don't have any other foreign currency, no zero foreign currency card in Canada. Now there's another feature which makes this card stands out comparing other credit cards which is right here. Complimentary airport lounge access. So this card is giving you actually priority pass membership and it's giving you actually 6 visits per year. It's not even 4 visits. If you look at the BMO World Elite MasterCard that card gives you the annual membership plus 4 visits per year. On this card it's giving you 6 visits per year so plus the annual membership. So it's giving you priority pass annual membership and 6 visits and that makes it going higher than the BMO World Elite MasterCard. So that's another reason I like this card than the other card which is the BMO World Elite MasterCard. And here we have 4 complimentary snacks. Okay so they're talking about airport lounges and AVS preferred pass membership for those who like to rent a car from AVS but I don't do that. And then here's other features for being AVS. Now this is a Visa Infinite credit card. So what it means that you're going to have access to all Visa Infinite benefits and you can use your Visa Infinite Concierge services to make them look for something, book your travel or basically anything you want. And if you have any other Visa Infinite credit card then you can use the same profile. You don't have to create a different profile for another Visa Infinite credit card. So having any Visa Infinite credit card would give you this access and this is a great feature to have. I use this Visa Infinite Concierge a lot. They book lots of my trips and they coordinate and arrange lots of my trips and many other things. So definitely if I'm having a credit card or a physical credit card I always make sure that there is a Concierge service attached to it. And if that's Visa Infinite then that's really great. So let's move on to here. So here they're just talking about Visa Infinite more which I just told you a little bit and what they can do. And then there's other Visa Infinite hotel collection benefits. So I'm going to go through all these and Visa Infinite dining services, Visa Infinite wine country program. Okay so I don't need to go through all these. Now let's talk about insurance. So this card is giving you lots of insurance. Trip cancellation, emergency travel, trip interruption, flight delay, delayed and lost baggage, hotel motel burglary, rental car, collision loss damage, common carrier, travel accident. Now all these insurance benefits they sound good. They look good on paper. But you have to always look for the provider whenever you're dealing with any travel insurances. For this provider, for this credit card and also Scotia's other credit card is the Scotia Gold American Express card. The provider is American Bankers Association of Florida. And this provider, if you just do a research online, they have lots of complaints and bad reviews when it comes to fulfilling the claims and everything. So for that reason, I wouldn't use this provider for my travel insurance purposes. So all these insurance benefits, they may look very good. But once you really have to submit the claims or once you need the claim or need the benefit, then it's going to have a hard time getting anything from the provider. Because they have bad reputation or bad reviews of not fulfilling the claims. If you just do some research, I don't remember seeing anyone or comments by anyone mentioning that they have got their claims from this provider. So I avoid this provider. If you are wondering which provider to go for, I would say go for providers like, you know, which are reputable and big Canadian providers. For example, RBC and then RSA, TD, this kind of provider. But with these providers, which have lots of bad ratings and bad reviews, always be careful. So for that reason, all these insurance benefits, I don't see any points of having them because I'm not going to be using them. And if you're using them, use them at your own risk. Because if something happens and in terms, you know, if you need to go through the claim, then you're going to have a lot of difficulty with this provider. So now we have a Scotiabank privacy agreement. I don't need to go through that. Then we have some other insurance service or some other information. I'm not going to go through those in terms of conditions. There's no need to go through that. And some other hard reading point and no travel viewers transferring points. Okay. So it looks like there's some other information which I don't need to go through all of these. Okay. So, so here's the insurance certificate and everything. And let me just take a look here if you can find something here. Okay. For example, what I was telling you just before is that the name of the insurance company, American Bankers Insurance Company of Florida. So this is a company they're in contract with for this credit card. And this company actually has many other Canadian credit cards providing lots of benefits. And the reason these credit cards are choosing this provider because they are very cheap, you know, they don't have to pay them a lot. But the fact of the matter is that the reason they can give all these benefits so cheap because, you know, it's very hard to get anything out of them. If you have to submit a claim and if you need to make go through the process, it's going to be really difficult. Okay. So here they're talking about all the insurances and everything. I'm not going to go through these. And let's take a look here. Trip cancellation, trip interruption, travel accident, medical emergency. Okay. So it looks like there's nothing much in here. All of these are insurance certificates and everything. So I'm going to set this aside here for now. And let's go to our main introductory letter. So this is the main letter you're going to get from Scotia. So Scotia Passport Visa Infinite Card. Welcome to your Scotia Visa membership. And then here just, you know, they're talking about again, you earn grocery, dining, entertainment and daily transit, two points and other eligible one points. And let's take a look here. The card is right here inside. I'm going to go back to the other section of the card. So there's not much information here. It's just giving you things we already know. Just one important thing right here, which is the annual fee $139 and $0 for one additional card. So for Scotia BMO World Trade Card, the annual fee is $150. You're getting four lounge passes. And here you're paying $139 and you're getting six lounge passes. And then the Scotia BMO World Elite MasterCard has 2.5% foreign currency conversion fee. And this card has no foreign currency conversion fee. So these are the features most people would love to have this card. And then let's take a look at our card here. Okay, I'm going to just go check inside what we have in here. Okay, so it looks like here there's not much in here. It's just, you know, the things they're mentioning again. So let's go back to our card. So I'm going to take out this card just one second. Okay, so here we have the Scotia Bank Passport Visa Infinite Trade Card. So here's the Visa Infinite logo. And this is a black looking trade card. And it's kind of, it has the world, the picture of the world right here. And basically that's what the card looks like. Okay, so I'll set it aside here. I'll put it in here. And I can keep it this way. Okay. Okay, so now I have the BMO World Elite MasterCard which I pay $150 per year. I get priority pass free membership plus four lounge accesses. But I pay four, I pay 2.5% foreign currency conversion fee. Now with this card, I'm going to be getting six lounge accesses plus free priority plus membership. And also the lounge, the foreign currency conversion fee or foreign transaction fee is zero plus no markup. So definitely it makes sense for me to keep this card and cancel the Scotia BMO World Elite MasterCard. Now my BMO World Elite MasterCard actually renews in November. So by November, I'm going to have to make a decision. But as of right now, my decision is to keep this and cancel BMO World Elite MasterCard. The only thing BMO World Elite MasterCard is different is that their concierge services is provided by third party concierge service. But this is a Visa Infinite concierge service. In terms of concierge service, Visa Infinite offers one of the best concierge services across the globe among all other credit cards. So it makes sense to keep this credit card because of its features. However, for points accumulation or to generate points, I'm not going to be using this card for daily purchases or everyday purchases. But I'll be using this card when I go on a trip due to zero foreign currency transaction fee. Because there are other credit cards to generate points if you are doing transactions within Canada. So for that reason, this is not going to be my everyday credit card in Canada or outside Canada. I'll be taking this credit card. If you have been watching this channel, you know that I have lots of videos on credit cards and points. So if you'd like to know more about which credit cards or whatever points, then just subscribe to this channel. And if you like what you see, please give it a thumbs up and consider subscribing. So that will conclude our unboxing and review of the Scotia Bank Passport Visa Infinite credit card. The card just came out five days ago and this is a very new card. And this is creating a lot of buzz on the Canadian credit card market due to the fact that this is the first time a Canadian credit card is offering. Major Canadian Bank is offering a credit card with no foreign transaction fee and six launch accesses or six launch passes which we have never seen before. So this is a good thing for the customers because that means there will be more competition. And I hope to see more credit cards are doing the same thing. And hopefully there will be something even better than this credit card. And there's going to be another new credit card with zero foreign transaction fee which is called the Bream World Elite MasterCard. And hopefully they're coming out soon. I do have another videos on that and once I have that card, I'll do more videos on that. So that's all for now. Thank you for watching and I'll see you shortly.