Scotiabank® Value Visa® Card

When a person applies for a credit card, they want a reasonable annual interest rate, a low annual fee when there is one, and they want a card they can easily understand. The Scotiabank Value Visa credit card is a card that has all of those things. It is ideal for balance transfers because of its low-interest rate and it even has an introductory rate to save even more money for the first 6 months.

The fees associated with the account are rather straightforward, as they include an over-limit fee, foreign transaction fees, statement copy fees, dishonored cheque fees, and more. If payment is made late, then a penalty APR could be assessed. Payment has to be late twice in a row for the penalty APR to be assessed or late three times in a 12 month period. To keep the introductory rate intact, it is important to make payments on time. When the account is in good standing, such things as credit line increases can occur.

As for the monthly payment, it is broken down into a minimum dollar amount, plus fees, plus interest. Interest on purchases can be avoided if paid off within the 21-day grace period. The grace period is increased to 25 days until a payoff occurs. Once a payoff occurs, it reverts back to the 21-day period.

Overall, the goal of this card is to help cardholders pay their balances down quickly rather than putting their money into fees and interest. When a balance can be paid down quickly, cardholders are able to get more out of their cards.