Scotiabank Value Visa Card review
- Welcome Offer
- 0.99% on balance transfers for 9 months
- Rewards
- N/A
- Annual Fee
- $0 annual fee for the first year ($29 thereafter)
- Purchase Interest Rate
- 13.99%
- Cash Advance Rate
- 13.99%
Our verdict
Get an ultra-low interest rate on everyday purchases with the Scotia Value Visa Card.
If you're struggling to make your monthly minimum payments or want to finance a medium-to-large purchase with your credit card, then the Scotiabank Value Visa Card might be just the ticket. You can save up to hundreds of dollars per year with the low 13.99% purchase interest rate on your credit card balance, not to mention an introductory balance transfer offer.
Best for: Those who are struggling to pay down their existing credit card balance.
Pros
-
Introductory balance transfer offer of 0.99% for 9 months
-
Low ongoing 13.99% rate for purchases & cash advances
-
Save up to 25% on eligible AVIS & Budget car rentals
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Free additional cards
Cons
-
You'll pay an annual fee of $29
-
You won't earn rewards points or cash back
-
No travel insurance coverage
The perks
- Welcome offer. Get a 0.99% introductory interest rate on balance transfers for the first 9 months. Plus, pay no annual fee in the first year. Apply by October 31, 2026.
- On-going low rates. Get an on-going low interest rate of 13.99% on eligible purchases.
- Quick pay. Simply wave your Scotiabank Value Visa Card or your smartphone at checkout for quick and easy payments with Visa payWave. You can also securely make payments on your purchases through Apple Pay and Google Pay.
- Save on car rentals. Get a discount of up to 25% at participating Budget and AVIS car rental locations in Canada and the US.
- Free additional cards. Add a supplementary cardholder to your Scotiabank Value Visa Card with no annual fee.
- World class service. Tap into world-renowned customer service 24/7 if you have issues with your card by either visiting your Scotiabank branch or calling the number on the back of your Visa.
What to watch out for
- Annual fee. Pay $29 per year to maintain your Scotiabank Value Visa Card.
- No rewards or cash back. The low interest rate you get with the Scotia Value Visa replaces a rewards or cash back return as the main incentive.
- No purchase insurance or warranty coverage. There is no extended protection for products purchased with this card.
- No travel insurance. The card does not offer complimentary travel or health insurance coverage.
Scotiabank Value Visa interest rates
| Interest Type | Interest Rate |
|---|---|
| Purchase interest rate | 13.99% |
| Cash advance rate | 13.99% |
| Standard balance transfer rate | 13.99% |
What should I know before I apply
Application criteria
- Canadian citizen or permanent resident
- Age of majority in the province/territory of residence
- Have an annual gross income of at least $12,000
Required documents and information
- Your name, residential status and contact information.
- Your social insurance number (SIN) and date of birth.
- Your email address and phone number.
How to apply for the Scotiabank Value Visa Card
- Visit Scotiabank’s website to start your Scotiabank Value Visa Card application.
- Read through the Disclosure Statement details and click Accept & Continue.
- Complete the application with details that include your name, email address, social insurance number and birth date.
- Review and submit your application.
Canadian borrowers choose credit cards over other loan products
We asked Canadians about their plans to borrow money in the first quarter of 2025. Among those that were, credit cards were the loan type of choice (12%), followed by lines of credit (11%) and car loans (6%). On the other end of the spectrum, payday loans (4%), debt consolidation loans (3%) and business loans (3%) received the least number of votes.
Bottom line
The Scotiabank Value Visa Card is a no-frills low-interest rate card with a low $29 annual fee. This card boasts a low balance transfer offer as well as a low, ongoing interest rate on purchases and cash advances.
If you would prefer to have a no-fee credit card, you might like to check out the No-Fee Scotiabank Value Visa Card to qualify for similar benefits.
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