Scotiabank® Value Visa® Card

Updated: May 11, 2021

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.

ANNUAL FEE

$29

ONGOING APR

12.99%

INTRO APR

0.99%

43 User Ratings

Scotiabank® Value Visa® Card

at Scotiabank Secured website

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Introductory APR

0.99%

Intro APR Period

6 months on BT

Minimum Credit Score

Fair

Key Features

  • 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
  • Pay down balances faster
  • Simplify your monthly payments

Our Take

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.

Pros

  • Low interest rate
  • Visa payWave feature
  • Free supplementary card
  • Additional savings and discounts

Cons

  • Annual fee
  • Foreign transaction fee

Value Visa Credit Card FAQs

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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 (%): 0.99%
Applied Towards:
  • Balance Transfer
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

Scotiabank® Value Visa® Card Alternatives


Scotiabank® Value Visa® Card

Scotiabank® Value Visa® Card

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Annual Fee

$29

Regular APR

12.99%

Intro APR

0.99%

Min. Credit Level

Fair

IMPORTANT
*The information provided for Scotiabank® Value Visa® Card is believed to be accurate at the time of evaluation or recent update on May 11, 2021. 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.

Scotiabank® Value Visa® Card

Reviews - (1 User Reviews)
Share your experience and rate the Scotiabank® Value Visa® Card
(Good)
January 18, 2021
Rayne (26-35) - Cardholder
Income on Application
$59864
Credit Score
Excellent (740-850)
Credit Limit
$10000
Filed for Bankruptcy
No

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.
Fees & Charges:
4/5
Features & Benefits:
5/5
Customer Support:
4/5
Application Process:
3/5
Comment (0)

Scotiabank® Value Visa® Card

Scotiabank® Value Visa® Card

Min. Credit Required: Fair

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