TORONTO — Scotiabank has introduced a credit card feature that allows renters to earn rewards points on rent payments without incurring transaction fees, a shift that could make one of the largest monthly expenses more rewarding for consumers.
The offering, tied to the ScotiaGold Passport Visa Card, enables cardholders to earn Scene+ points on rent and condominium fee payments made through a partnership with the payments platform Casa, Yahoo Canada reported.
For many renters, housing costs represent their largest monthly expense, yet historically have not been eligible for credit card rewards without costly workarounds such as cash advances or third-party payment platforms that charge transaction fees.
How Program Works
Under the new program:
- Cardholders earn 1 Scene+ point per $1 spent on everyday purchases.
- Through Casa, users can pay rent or condo fees directly without the transaction fees typically charged on such payments with other Visa or Mastercard products.
- To qualify for rewards on housing payments, cardholders must spend at least $350 on everyday purchases in a given month.
- Once that threshold is met, rent and housing payments also earn 1 point per $1.
Bonus Points
New cardholders may also qualify for up to 10,000 bonus Scene+ points within their first three months, according to Yahoo Canada.
The potential rewards can be significant. A renter paying $2,000 per month who consistently meets the spending threshold could earn roughly 24,000 Scene+ points annually from rent payments alone, excluding additional points from everyday purchases.
The feature is expected to appeal primarily to renters and condominium owners who pay monthly fees and are current or prospective holders of the ScotiaGold Passport Visa Card. The benefit also extends to condo corporation fees, as Casa supports payments for residential owners, operators and property managers.
However, the no-fee advantage is limited to this specific card when used through Casa. Other Visa and Mastercard products on the platform continue to incur standard transaction fees, Yahoo Canada added.
