Scotiabank® Value Visa® Card

Will save you hundreds of dollars a year on interest charges

Updated: Dec 30, 2022

Advertiser Disclosure

The Scotiabank Value Visa credit card gives cardholders some flexibility, low rates, competitive fees, and some leeway in the way of late payments and the time it takes for a penalty interest rate to be assessed. It is a card that is transparent, can be used anywhere in the world Visa is accepted, and gives its cardholders spending power.







43 User Ratings

Scotiabank® Value Visa® Card

This card is not available through MarketProSecure Canada.

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Introductory APR


Intro APR Period

6 months on BT

Recommended Credit


Key Features

  • 0% introductory interest rate on Cash Advances for the first 6 months (12.99% after that; annual fee $29).1 Plus no annual fee in the first year.1 Offer ends 30 April 2023.
  • Save up to hundreds of dollars a year on interest
  • Low interest rate of 12.99%
  • Pay down higher interest rate balances faster
  • Transfer higher rate balances and save even more

Our Take

The Scotiabank Value Visa card is a credit card that has a lower interest rate than most other cards. With this card, you can build your credit score without paying a high interest rate every month. At its highest, the Scotiabank Value Visa card’s interest rate is around 13%, unlike other cards with 20% or more.

Scotiabank Value Visa Card is the Best for

  • Big purchases (such as houses, cars, etc.);
  • When you want a low-interest rate;
  • When you want a low annual fee;
  • And, seeking a low minimum credit limit.

What Are Scotiabank Value Visa Advantages

The Scotiabank Value Visa card can be beneficial for some people; let’s look at the good sides of this credit card.

Low Interest rate

This card was made for those who don’t want to pay a high-interest rate. The interest rate this card offers is 12.99%. However, if you are a new Scotiabank Value Visa card user, you can use your credit card without an interest rate for six months. After these six months, you will have to pay the percentage mentioned above.

Annual fee

Although some credit cards on the market require no additional fees, this card’s annual fee is still reasonably low. On an annual basis, you will have to pay $29, which doesn’t amount to a lot in one year. However, when you first get the card, you won’t have to pay a fee for a year; this is a welcome bonus Scotiabank offers to new clients. Additionally, you won’t have to pay to get supplementary cards. See No Annual Fee Cards.

High credit limit

Sometimes, we see a card with all the benefits we need, only to find that the minimum credit limit1 is high. However, this card’s minimum credit limit is only $500. Adding up the interest rate, you will actually save money using this card.


With the low interest this card offers, you can save hundreds of dollars on a yearly level. Depending on the amount of money you deposit, you can calculate how much you can save each month or year. You can also transfer higher rate balances to your Scotiabank Value Visa card and save on interest each month.

Big purchases

When you buy something large with a credit card, you might feel overwhelmed by the amount of money you need to pay to cover the monthly interest rate. However, if you use this card, you will spend much less than you normally would. Whether your monthly expenses are high or you plan on making a more significant purchase, you will feel more at ease with a low-interest rate.


Scotiabank, Visa, and AVIS have made a deal to provide their customers with the best possible service. These companies understand that renting a car can be a bit too much. Therefore, with this card, you can save up to 25% on car rentals, but that only applies to AVIS locations across Canada and the US.

Mobile banking

Sometimes, we cannot wait in line to pay our bills, pay for groceries, etc. Luckily, with mobile banking, it only takes seconds to transfer money from one account to the other. The Scotiabank Value Visa card has a mobile banking service; you can save a lot of time with this feature.


Scotiabank offers the option of getting insurance for yourself and your family members. There are two options to choose from – Basic Protection and Comprehensive Protection. The coverage of these two is similar, as they cover Life insurance, Critical Illness benefits, etc. The Comprehensive Protection offers a few more insurances.

Are There Any Disadvantages?

Although this card is perfect for those who don’t want to pay a high interest rate, some things could be changed to improve the card.


Scotiabank is known for its cashback features. While most of the credit cards this bank issues have a cashback feature, this card doesn’t. Cashbacks can mean a lot, especially for purchasing everyday items you need.

The price of insurance

You have to pay an additional fee to get the insurance. An account with coverage is considered a premium account, and all premium accounts require a fee. The insurance fee is calculated according to every $100 you have in your account. For Basic Protection, this rate is $0.89 per $100, and for Comprehensive protection, this rate is $1.09.

What Makes Scotiabank Value Visa Card Different

Comes with Low APR. The Scotiabank Value Visa card is a unique option on the market currently. With this card, you can pay a lower interest rate than you normally would. In Canada, the interest rate is around 20%, but with this card, you will only have to pay around 13% interest rate.

Make for large purchases. The card is designed for those who don’t want to pay much for what they have spent. Additionally, this card is an excellent option for those planning to make bigger purchases, such as cars or houses, or for those who generally spend a lot on everyday items.

Free supplementary cards. Another unique feature this card has is that, unlike other cards, you won’t have to pay to get a supplementary card. You can always request to get another card and not have to pay a fee for that.

Attractive insurance package. Scotiabank is one step ahead when it comes to insurance. This bank offers a lot of insurance options to choose from, which is a unique feature. However, you will have to pay for a premium account to get insurance with this card.

How Can I Get Scotiabank Value Visa Card?

To get the Scotiabank Value Visa card, you can apply online using the link available on this page. Once you are directed to the secure online application form, you will have to fill in the information the bank requests, and you will soon be notified about whether or not you are approved and what is your credit limit.

Competing Offers and Alternatives

Bottom Line

The Scotiabank Value Visa card is a low-interest credit card that can help you build your credit and not pay a tremendous amount on interest rates. Overall, this card is best for those who want to make more significant purchases and don’t want to pay high-interest rates. However, this card is just about that. This card doesn’t have the benefits other cards have. This card might be perfect for you if you are only interested in getting a low interest rate. If, on the other hand, you want more benefits, this card might not be what you are looking for.

Frequently Asked Questions

Reference Index

  1. What Is a Credit Limit? Capital One
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Basic Information
Issuer: Scotiabank
Network: VISA
Category: Consumer (Regular)
Best Used For:
  • Instant Decision
  • Low Interest
Rewards: No
Rates & Fees
Introductory APR (%): 0%
Applied Towards:
  • Cash Advance
Intro Period: 6 months on BT
Regular APR: 12.99%
Regular APR Type:
Annual Fee: $29
Balance Transfer: Yes
APR on Cash Advances: 12.99%
Grace Period: See Terms
Other Fees:
  • Foreign Currency Conversion: 2.5%
  • Dishonored Payment Fee: $48

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Additional Information & Comments

Ongoing Annual Fee: $29/ year, Each supplementary Card $0/year

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

Non-Affiliate Offer Disclosure
*The information provided for Scotiabank® Value Visa® Card is believed to be accurate at the time of evaluation and has been collected independently by MarketProSecure® Canada. The card issuer did not provide the details, nor it is responsible for their accuracy.

Scotiabank® Value Visa® Card

Reviews - (1 User Reviews)
Share your experience and rate the Scotiabank® Value Visa® Card
January 18, 2021
Rayne (26-35) - Cardholder
Income on Application
Credit Score
Excellent (740-850)
Credit Limit
Filed for Bankruptcy

Great intro rate allowed me to pay down balance faster and save cash

The interest rate on my old card was too high for me to keep up with down payments. I wanted a chance to pay off my debt as fast as I could with as little interest as possible. Scotiabank VISA proved a perfect solution. With an intro APR of only 0.99% I managed to pay down the balance transfer, saving the cash I would’ve spent on interest rates with the previous card. The card comes with a very affordable annual fee which came as a surprise. I also love that it has an extended grace period for down payments. The 21 days grace period allows me to skip down payments from time to time. The only downside is that it doesn’t offer any rewards or loyalty programs.
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Scotiabank® Value Visa® Card

Scotiabank® Value Visa® Card

Rec. Credit Score: Good

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