Scotiabank MAGNA Mastercard

Credit Card
Rewards

Scotiabank MAGNA Mastercard

Welcome offer
Receive a J$1,500 Spend Bonus, Plus J$500 Additional Card Bonus
Features
  • Earn Rewards Points on everyday purchases
  • Earn extra points with family & friend cards
  • Double Dip Points! MAGNA Cards + MAGNA Merchants = More Points
Annual Fee
J$ 4,738.21
Purchase
Interest Rate
49.75%
Cash
Advance Rate
49.75%
Minimum
Payment
5.00%
Learn more
  • Welcome Bonus & Cashback: Get a head start on your MAGNA rewards with a $1,500 welcome bonus when you spend $30,000 in the first 3 months.
  • Double Dip at Partner Stores: Earn double the points whenever you use your MAGNA credit card along with your MAGNA Rewards card at MAGNA merchants including supermarkets, pharmacies, hardware stores and more!
  • Earn Extra Points with Family & Friends: Extend your rewards earning by adding supplementary cards for family or friends. Everyone can contribute to your points balance!
  • Free Personalized Checks: Enjoy the ease and flexibility of using free, personalized checks for purchases, bill payments, or even to access cash at tellers.
  • 24/7 Emergency Support: Have peace of mind with access to emergency services through Mastercard Global Service, available any time, anywhere in the world.
  • Purchase Protection: Shop with confidence knowing your purchases are covered against theft or accidental damage (up to US$100 per occurrence).
  • Optional Credit Life Protection: Provide an extra layer of security for your family with optional, low-cost Credit Life Protection (up to US$25,000).
  • Know Your Fees Upfront: The Scotiabank MAGNA Card comes with easy-to-understand fees. For a complete breakdown, visit the Scotiabank Credit Card Rates & Fees Schedule.

Investment Disclosure - Managed Funds

Please note that past performance of managed funds, including unit trusts and mutual funds, does not guarantee future results. While historical performance can provide valuable insights into a fund’s track record and management capabilities, it should not be the sole basis for making investment decisions.

Managed funds are subject to market fluctuations, economic conditions and various other factors that may affect their performance. Investors should carefully consider their investment objectives, risk tolerance and financial situation before investing in any managed fund.

Additionally, it’s essential to conduct thorough research and consult with a qualified financial advisor to ensure that the selected managed fund aligns with your individual investment goals and preferences.

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Fixed Income Investment Disclaimer:

  • Interest Rate Risk: The value of your fixed income investment may decline if interest rates rise. As rates go up, investors may be able to earn higher returns on new investments, potentially making your existing fixed-rate investment less attractive.
  • Credit Risk: There is always the possibility that the issuer of a fixed income security, like a CD, may default on their obligation to repay your principal or interest. This risk is generally lower with government-backed securities but can be higher with corporate bonds.
  • Market Volatility: Even fixed income investments can experience some price fluctuation, especially in secondary markets where they may be sold before maturity.
  • Early Withdrawal Penalties: Some fixed income investments, like CDs, may impose penalties if you withdraw your funds before the maturity date.

Before investing in any fixed income product, carefully consider your investment goals, time horizon, and risk tolerance. It’s important to understand the specific features and risks associated with each type of investment. Consider consulting with a financial advisor to ensure these investments align with your overall financial plan.

This information is for general purposes only and does not constitute financial advice.

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Last Updated: March 8, 2024. 

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