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Scotiabank Value® VISA* Card

Scotiabank Value® VISA* Card

0.99% introductory interest rate on balance transfers for the first 6 months†

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Our Rating:
Annual Fee Interest Rate Balance Transfer Cash Advance Credit Score Good: -- I've had a credit card, or loan for 6+ years. I've had good credit for the last 7 years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). I haven't opened a new credit card account, loan, or line of credit in the last nine months. I've made the minimum payments on my existing credit cards for the past three months. Rewards Are all rewards created equal? From points, to miles, to cash back – how do you know how much you’re really getting? To help you find the best rewards card, we’ve created the Your Reward Return, an estimate on the dollar value of your rewards based on your monthly spend so that you can compare like for like. Now that’s wise thinking!
$29.00 11.99% 0.99% *11.99% after 6 months 11.99% Good -

Annual Fee

Interest Rate

Balance Transfer

Cash Advance

Credit Score Good: -- I've had a credit card, or loan for 6+ years. I've had good credit for the last 7 years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). I haven't opened a new credit card account, loan, or line of credit in the last nine months. I've made the minimum payments on my existing credit cards for the past three months.

Rewards Are all rewards created equal? From points, to miles, to cash back – how do you know how much you’re really getting? To help you find the best rewards card, we’ve created the Your Reward Return, an estimate on the dollar value of your rewards based on your monthly spend so that you can compare like for like. Now that’s wise thinking!

$29.00

11.99%

0.99% *11.99% after 6 months

11.99%

Good

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  • Card Details Details
  • Legal Legal
  • Our Review Review

Card Details


  • 0.99% introductory interest rate on balance transfers for the first 6 months (12.99% after that; annual fee $29)◊

  • Save hundreds of dollars in interest a year

  • Low 12.99% interest rate

  • Pay down balances faster

  • Simplify your monthly payments

  • Rates, fees and other information are effective as of February 1, 2019. Subject to change.


*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.

Features and Benefits

  • Purchase protection and extended warranty
  • Avis Rental Car Discount

Legal Details

◊ The introductory 0.99% interest rate applies only to cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions) (collectively "Cash Advances") subject to the conditions below (the "Offer"). This rate applies when the new Scotiabank credit card account ("Account") is opened by June 30, 2019 and will continue for 6 months from date of Account opening (the "Promotional Period"). This Offer cannot be used to transfer a balance from another Scotiabank Account, or to make a payment or deposit to another Scotiabank account. After the Promotional Period, the 0.99% interest rate on any promotional balance transfers (including any that remain unpaid after the Promotional Period ends) will increase to the preferred interest rate on Cash Advances (currently 12.99%). If you don't pay the minimum payment on your Account by the payment due date on your statement, two times in any consecutive 12-month period, you will lose the benefit of this promotional rate Offer and the interest rates that apply on any unpaid balance will increase to the standard annual interest rates that apply to your Account (currently 25.99% on purchases and 28.99% on Cash Advances). In general, if you make a payment that exceeds the minimum payment on your statement, we will apply your payment on a proportionate basis among each group of billed charges on your Account. We group charges based on the interest rate that applies to the group of charges.

Your payment cannot be applied to the balance(s) of your choice. See your credit card agreement for more information about how we apply payments to your Account.

A Balance Transfer fee of 0% of the amount of each Balance Transfer transferred during the Promotional Period applies to this Offer.

Former or current Scotiabank credit cardholders of any kind in the past 2 years, including those that transfer from an existing Scotiabank credit card account or re-open a closed Scotiabank credit card account, are excluded from this Offer.

The current annual fee is $29 for the primary card and $0 for each additional supplementary card.

The current preferred annual interest rates for the Account are: 12.99% on purchases and 12.99% on Cash Advances.

All rates, fees, features and benefits are subject to change. Offers may be changed, cancelled or extended and cannot be combined with any other offers.

RateSupermarket.ca's Review

Looking to pay off some credit card debt? There's no sense wasting hard earned money on interest payments (which often prevent you from making a serious dent in your principal!) when you could be paying as little as 1.99% on balance transfers. Many credit card consumers don't fully understand the concept of a balance transfer, but these credit cards can be excellent tools in the quest to be debt-free: transfer an existing balance from a higher interest rate credit card to the Scotiabank Value® VISA card and pay only 1.99% in interest for the first six months. On top of that, the ongoing interest rate for new purchases is only 11.99%, much lower than the average 19.99%. Plus, pay no hidden balance transfer fees! All with a low annual fee of $29. After your first six months are up and the introductory interest rate ends, you'll pay a low rate of 11.99%. To put this into perspective: if you're carrying a balance of $1,500 on another credit card with a 19.99% interest rate, you'll save $139.65 in the first six months alone by switching to the Scotiabank Value® VISA card.

Top Features About Scotiabank Value® VISA card

  • 1.99% introductory interest rate on balance transfers and cash advances for the first six months; only 11.99% thereafter
  • No hidden balance transfer fees
  • Ongoing purchase rate of 11.99%
  • Instant cash advances

Pros

  • Save money on interest with a 1.99% introductory interest rates on balance transfers and cash advances for the first 6 months
  • Ongoing interest rate only 11.99%
    •  

Cons

  • $29 annual fee
    •   
 

How We Did It: Balance Transfers

Ave. Canadian Credit Card Debt Amount Paid Monthly Debt Timeline
$3,277.33 Minimum Payment (varies) 24 Months

 

All interest totals include limited time interest rates, credits, bonuses and annual fees.

Rate, product information and rewards estimate are subject to change at any time and does not constitute financial advice. Please contact supplier for complete details

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