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No-Fee Scotiabank® Value VISA® Card

Consumer Reviews, Credit Score, Fees, Application & Best Alternatives


Updated: Oct 29, 2020
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The No-Fee Scotiabank Value Visa card is a competitive card with no annual fee, low interest, an introductory period, fraud protection, online account management, and the ability to do everything you would expect to be able to do with a quality credit card, such as cash advances and balance transfers.

ANNUAL FEE:

$0*

ONGOING APR:

16.99% *

INTRO APR:

3.99%*

39 User Ratings No-Fee Scotiabank® Value VISA® Card

at Scotiabank Secured website

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Introductory APR
3.99%*
Intro APR Period
6 months on BT*
Minimum Credit Score
Good*

Key Features


  • 3.99% introductory interest rate on balance transfers for the first 6 months (16.99% after that)
  • A great low rate with no annual fee
  • Pay down balances faster
  • Simplify your monthly payments
$ 0 2020-12-01 InStock

Our Take


The No-Fee Scotiabank Value Visa credit card is straightforward in its rate, its fees, and how it breaks everything down for the cardholder. There is an introductory annual interest rate, a low default interest rate, and there is no annual fee. This is in addition to the fact that the fees for cash advances and balance transfers are highly competitive. Cardholders even have the option of using the card internationally where Visa is accepted without ...

The No-Fee Scotiabank Value Visa credit card is straightforward in its rate, its fees, and how it breaks everything down for the cardholder. There is an introductory annual interest rate, a low default interest rate, and there is no annual fee. This is in addition to the fact that the fees for cash advances and balance transfers are highly competitive. Cardholders even have the option of using the card internationally where Visa is accepted without having to pay large fees to do so. The extent of these fees extend to an overlimit fee, dishonoured Cheque fees, and penalty interest if two late payments are made in a row or three late payments are made in a 12 month period. The way the card breaks down the monthly payment helps the cardholder see what is going into that payment. It is broken down into fees, interest, and a minimum monthly amount. By minimizing fees, the payment can be controlled. Interest on purchases can be avoided by paying off the entire balance within the 21-day grace period. If the balance is not paid off in any given billing cycle, then the cardholder is given 25 days to pay off the account and avoid interest. Doing this again and again allows the cardholder to keep the account in good standing and get the most out of the credit limit that is on the card. This could even lead to credit line increases that allow the cardholder to have more spending power. These are just some of the options available. Others include fraud protection and online account management.


Pros

  • No annual fee
  • Intro rates

Cons

  • Slightly higher APR on purchases

Basic Information

Issuer: Scotiabank
Network: VISA
Category: Consumer (Regular)
Common Uses:
  • Instant Decision
  • Low Interest
Rewards: No
 

Rates & Fees

Introductory APR (%): 3.99%*
Applied Towards:
  • Balance Transfer
Intro Period: 6 months on BT*
Regular APR: 16.99%
Regular APR Type: N/A
Annual Fee: $0*
Balance Transfer: Yes*
APR on Cash Advances: 16.99%*
Grace Period: See Terms*
Late Payment Fee: N/A
 

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Additional Information & Comments

To apply for the card you must: - Be a Canadian Citizen or Landed Immigrant - Have reached the age of majority in your province/territory (18 years in AB, MB, ON, PE, QC, SK. 19 years in all others) - Not have declared bankruptcy in the past seven years - Have a minimum gross monthly income of $1,000 unless you are applying for a student VISA card Legal Promotion Notice: The introductory 3.99% interest rate applies to cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions) only (the "Offer"). This rate applies when the new Scotiabank credit card account ("Account") is opened by the defined date (the "Offer End Date") (See terms & conditions of the card) and will continue for 6 months from that date ("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 3.99% interest rate on any promotional balances (including any that remain unpaid after the Promotional Period ends) will increase to the preferred interest rate on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions) that applies on your Account. Offer applies only to new Scotiabank credit card accounts opened by the Offer End Date. Former or current Scotiabank credit cardholders that transfer from an existing Scotiabank credit card account or re-open a closed Scotiabank credit card account are excluded from this Offer. Offer may be changed or extended and cannot be combined with any other offer. The preferred annual interest rates for the Account are: 16.99% on purchases and 16.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions). Rates and fees are subject to change.



IMPORTANT
*The information provided for No-Fee Scotiabank® Value VISA® Card is believed to be accurate at the time of evaluation or recent update on October 29, 2020. However, we strongly advise visitors to review the card fees and Terms & Conditions on the issuer's website by following Apply Now link to verify the accurancy of the information posted prior to applying for this card offer.
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Min. Credit Required: Good*