Is Travel Credit Card Scotiabank Gold American Express Now A Cash Back Credit Card As Well?

Scotiabank Gold Amex Credit Card Offers New Feature

First Published Date: November 26, 2016

Scotiabank Gold American Express travel credit card is known for its mega proprietary points offer on selected categories, beating any other cards. For example, 4 points for every $1 spent at eligible gas, grocery, dining, and entertainment purchases in Canada. You can read my full review here: The ScotiaBank Gold American Express Card Review. However, a recent change made on Scotia Rewards Program, starting November 6, 2016, makes Scotiabank Gold Amex Credit Card as a Cash Back credit card as well.

Author/Copyright: Ahmed Dawn www.adawnjournal.com

In the past, Scotiabank Gold Amex card members were only allowed to redeem points for travel purchases, as it’s a travel rewards credit card. But to make the use of this credit card more flexible and attractive, Scotiabank is now allowing you to redeem points for statement credit on any purchases. This change of feature makes this card basically a travel credit card that works as a Cash Back credit card as well.

However, this change puts Scotiabank Gold Amex card in direct competition with Scotia’s own cash back credit card, the Scotia Momentum Visa Infinite Card, which offers 4 percent on gas + grocery and 2 percent on pharmacy + recurring bills. Read my review on this card here Scotia Momentum Visa Infinite Card review if you need to decide which one to choose.

There is another travel credit card, the MBNA World Elite Rewards MasterCard, which offers a flat 2 points per dollar on all spending and allows you to redeem points for cash back.

I consider this cash back option offered by Scotiabank Gold Amex travel credit card as a positive change, as it provides greater flexibility for customers.

How Much Do Rich People in Canada Need to Retire?

Retirement Amount for Canada’s Wealthy

First Published Date: January 27, 2017

A recent poll done by BMO Harris Private Banking found out how Canada retirement would look like through the eyes of affluent people in Canada. The number stands at a staggering amount of $2.3 million.

Further, rich people are more confident than average people reaching their retirement goals. 95 percent of the wealthy said they are more confident in reaching their goal. On the other hand, only 69 percent of average people are confident in reaching their goals.

However, don’t let these numbers deter you from reaching your own goals. Your personal retirement amount can be totally different than any other person. As there are many unique factors that play a role in determining each person’s retirement needs, it is possible to retire with a much smaller amount than the amount for the wealthy ($2.3 million) or the average Canadian amount (about $900,00.00).

A Dawn Journal has a retirement section featuring lots of retirement articles and I encourage you to go through it.

Real Estate In Palm Island Dubai

Properties In Dubai Palm Islands

First Published Date: December 2, 2016

The Palm Islands in Dubai are artificial, man-made islands in the Persian Gulf and one of the most ambitious and talked about modern-day real estate projects. It is considered as the 8th wonder of the world and visible from space like the Great Wall of China. The Palm Island project is made of three Palm islands (Palm Jumeriah, Palm Jabel Ali, and Palm Deira) and there are varieties of apartments, villas, and houses available for real estate investors to explore.

Author/Copyright: Ahmed Dawn www.adawnjournal.com

The Palm Islands were the idea of Sheik Mohammed Bin Rashid Al Maktoum, the king of Dubai. State-owned property developer Nakheel Properties is behind the development of this artificial archipelago with the help of Belgian and Dutch construction companies. It is estimated that nearly 53 million pounds of sand and 12 million pounds of rock were used to construct these islands from the ocean floor.

The Palm Islands have 60 hotels, 4000 beachside villas, 1000 water homes, 5000 shoreline apartments with other facilities such as shopping malls, marinas, water parks, sport facilities, a ski resort, and so on. Residents can access these islands via bridges, boats, or monorail system.

Apartments in the Palm Islands can range from 1 bedroom to 4 or more bedrooms. Each apartment can have a view of the landscaped gardens or the Persian Gulf sea view. Price range can be from lower $300 thousands to over $2 million dollars US. A villa can cost from less than 1 million US$ to 10 and above million US$ depending on location and what type of view it offers. The amenities available in one of the apartments or villas make you feel like are living in an upscale ocean resort – not in a residential unit.

Although residential property prices have slumped in Dubai right after the financial crisis in 2009, there have been steady upward trends in prices since then. Villa and apartment prices have gone up 20 and 7 percent annually since then. Many new projects have been announced in 2012. Multibillion dollar project Mohammed Bin Rashid City is one of the new projects to raise investors’ curiosity across the globe. It is expected to feature the largest mall in the world – with a park which is 30 percent bigger than Hyde Park in London.

Looking forward in 2013, Dubai’s property is expected to be one of the strongest performers due to its increased demand. Professionals relocating from Asian and western countries are expected to rise and push up the demand for luxury homes. Barring any drastic slowdown in global economy, we should see more high-end projects to keep up with its demand in the future years.

Credit Card Bonus Rewards Points Shrinking

Several Credit Cards Change Bonus Rewards Points

First Published Date: December 5, 2016

In the past few weeks, I found out that several credit cards are changing their rewards points options. In my last article, I talked about Scotia Amex Gold Rewards. Today I will talk about two other credit cards that have instituted negative changes, unlike Scotia.

MBNA Rewards Platinum Plus MasterCard

This is a free rewards credit card that used to give 1000 bonus points every year on the anniversary date. However, MBNA recently sent a notification mentioning it will no longer provide any anniversary points starting January 1, 2017.

This does not come as a surprise to me, as I was expecting various cutbacks on points and features since TD Bank Group purchased MBNA. MBNA used to offer several cash back and rewards points credit cards with generous rewards and features. However, TD is terrible with its own rewards credits cards and it’s no wonder they will make all MBNA credit cards like their own (with reduced rewards and features). MBNA is no longer the choice for low-annual fee and no-fee credit cards since TD starting axing its benefits. There are other credit card companies that offer better deals for low annual fee and no-fee credit cards.

MBNA Rewards World Elite MasterCard

This card is no longer providing first year free. Before the $89 annual fee was waived for the first year.

BMO World Elite MasterCard

BMO was one of the few banks in Canada that allowed you to receive introductory bonus points on credit cards when you switch one account to another. For example, the BMO World Elite MasterCard gives 30,000 points (see below) if you apply and get approved. However, if you are already an existing different cardholder at BMO and switched to this card, you would still get 30,000 intro points. A couple of days ago I switched my BMO Air Miles World Elite MasterCard and as such I will receive 30,000 points. However, a BMO rep mentioned that starting January 1, 2017 these intro bonus points on switching one card to another will be discontinued. So if you are an existing cardholder and plan to get the BMO World Elite MasterCard, this is the time to do it.

BMO World Elite MasterCard is also reducing its 30,000 intro bonus points to 20,000 and increased minimum income requirement from $70,000 to $80,000.

When one door closes, another door opens. Always keep an eye open for new opportunities for credit card rewards and A Dawn Journal is here to provide you unbiased information because unlike most other sites, I do not promote any credit cards and I do not receive commissions from credit card companies.

2017 Starts With Optimism in Global Real Estate

Recent International Real Estate Highlights

First Published Date: January 31, 2017

Toronto Luxury Real Estate Sales Up

As Vancouver slaps a 15 percent foreign buyer tax on its real estate market, Toronto’s luxury real estate is benefiting and on the rise. Sotheby’s International Realty Canada reports that Toronto is leading Canada in high-end residential real estate sales for the third consecutive year with an increase of 77 percent from 2015.

Factors that are playing a role in the growth are low interest rate, high employment, and high confidence. Sotheby’s International points out that Toronto enjoys natural boundaries like the lake and the Greenbelt – giving it less land to develop and leading to lower supply, which increases demand.

Also, foreign buyers are rushing to Toronto to grab a piece before the city starts putting restrictive measures in place to discourage foreign buyers from grabbing more real estate in the one of the world’s best places to live.

U.S. Cities Still Offer Tremendous Value in Real Estate

U.S. cities, especially in the south like Texas and Florida, offer tremendous opportunity in real estate. According to a report from Forbes and Local Market Monitor, Dallas is on the top of the list of investor-friendly places with a projected 31 percent growth rate. Cities like Jacksonville, Orlando, Seattle, and West Palm Beach are also on the hot growth list.

Dubai Real Estate Rising

Suffering from a sluggish growth since mid-2014, Dubai is on the move again. According to a report released by JLL Chicago, Dubai real estate is poised to rise in 2017. There are various factors favouring the growth. Stabilizing oil price and hosting the EXPO 2020 are some of the main factors.

However, Abu Dhabi (UAE capital) could face further declines in real estate in 2017 because of its less diversified economy and less expenditures on projects.