Scotiabank in Canada has started issuing cards on the American Express (AXP) network, the companies said on Monday.
Scotiabank, the only major Canadian bank to offer an American Express-branded card, is now issuing three kinds of American Express cards: a basic card for a $39 annual fee, a gold card for a $99 annual fee and a platinum card for a $399 annual fee.
Customers can receive extra rewards points if they use the cards at such retailers as gas stations, grocery stores or restaurants. They can redeem those points in exchange for airplane tickets, hotel stays and other travel rewards or in exchange for merchandise and or discounts on Scotiabank investment accounts or statement credit on credit cards.
Anatol von Hahn, Scotiabank's Head of Canadian Banking, said in the release that such travel rewards "are particularly important to Canadians."
American Express has spent much of the past decade trying to convince more banks to use its credit card network, after a court decision in 2004 allowed it and Discover (DFS) to compete with Visa (NYSE: V) and MasterCard (MA) for banks' business. It has had limited success finding bank partners in the United States, although companies including Citigroup (NYSE: C) now issue some cards on the American Express network.