Which has the lower annual fee, Scotiabank Gold American Express or Visa EXPLORE?

The Visa EXPLORE has a $95 annual fee, while the Scotiabank Gold American Express charges $120/year.

Which card is better for groceries, Scotiabank Gold American Express or Visa EXPLORE?

The Scotiabank Gold American Express earns 4x on groceries, while the Visa EXPLORE earns 0.5x. The better choice depends on your grocery spending and the specific merchants you shop at.

Is the Scotiabank Gold American Express accepted everywhere in Canada?

The Scotiabank Gold American Express runs on the American Express network, which is not accepted at some Canadian retailers like Costco and Loblaws. Visa and Mastercard have broader acceptance in Canada.

Scotiabank Gold American Express vs Visa EXPLORE — Which Is Better? | Churnr

Header Quick Take Value Earn Rates Merchants Wallet Bonus FX Benefits Eligibility Perks Downgrade Verdict

Scotiabank Gold American Express wins by $1,173/yr — strongest in groceries

Scotiabank Gold American Express earns $447 more on groceries
Scotiabank Gold American Express earns $68 more on gas
$450 welcome bonus advantage

Groceries: +$447Gas: +$68Entertainment: +$34

Scotiabank Gold American Express: $30/yr in foreign transaction fees

Scotiabank Gold American Express (Amex) — not accepted at Costco, Loblaws, No Frills, Walmart

Visa EXPLORE: $30/yr in foreign transaction fees

Showing Year 1 analysis

Dollar Value

Winner

$1,222

/first year

2.9% effective$102/mo

vs 1% no-fee card: +$803

Annual rewards earned+$802

Welcome bonus+$450

First-year fee waiver+$120

FX costs−$30

Annual fee−$120

$48

/first year

0.1% effective$4/mo

vs 1% no-fee card: −$370

Annual rewards earned+$173

FX costs−$30

Annual fee−$95

Best for your spendingScotiabank Gold American Express—$1,222Year 1 value

+$1,173 more than Visa EXPLORE

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The Bottom Line

Scotiabank Gold American Express wins by $1,173/yr — strongest in groceries

Scotiabank Gold American Express earns $447 more on groceries
Scotiabank Gold American Express earns $68 more on gas
$450 welcome bonus advantage

Groceries: +$447Gas: +$68Entertainment: +$34

Showing Year 1 analysis

Scotiabank Gold American Express wins in both Year 1 and Year 2+ — consistent long-term value.

Data Sources

Issuer terms & conditions (verified Mar 2026)

Merchant MCC verification (239 merchants)

Insurance certificates (PDF review)

Reward program documentation

User-reported acceptance data

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