Scotiabank GM Visa Card Review

Scotiabank GM Visa Card
Scotiabank GM Visa Card
  • $0 annual fee.
  • Car rental discounts.
  • Earn GM points to reduce the cost of purchasing a new vehicle.
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Get top-of-the-line discounts on vehicle purchases with the Scotiabank GM Visa Card.

The Scotiabank GM Visa Card can earn up to 5% in GM Earnings on purchases. For every $1 in GM Earnings, you’ll get $1 off the purchase price or lease down payment of a new GM, Chevrolet, Buick, GMC, or Cadillac.

30-second take

  • Get this card if you want to use your GM points to reduce the cost of purchasing a new vehicle.
  • Choose something else if you’re looking for a more flexible rewards/cashback program.
  • You must have a minimum annual income of $12,000 to qualify for this card
Product NameScotiabank GM Visa Card
RewardGet up to 5% in GM Earnings on your initial spend of $5,000 in the first year.
Welcome OfferNo available introductory offer.
Required DepositN/A
Purchase Interest Rate17.99%
Cash Advance Rate17.99%
Balance Transfer Rate17.99%
Interest Free Period Up to 21 days
Minimum Credit Limit$500
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Annual Fee$0
Monthly Service FeeN/A
Over Credit Line Fee$29
Balance Transfer Fee$3.50
Penalty APR24.99%
Dishonoured Payment Fee$48
Foreign Currency Conversion Fee2.5%
Cash Advance Minimum Fee$3.50
Late Payment FeeN/A
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Credit Rating650+ recommended credit score
Minimum AgeAge of majority in province/territory of residence
Minimum Income$12,000
Household IncomeN/A
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The basics

If you’re in the market for a new car but aren’t interested in paying top dollar for the privilege, then you might like to think about applying for the Scotiabank GM Visa Card.

Earn up to 5% (around $250) in GM points on the first $5,000 of purchases, and 2% thereafter. This card comes with the added benefit of zero earning caps, no redemption limits and no expiration dates so long as you remain a cardholder.

The perks

  • No annual fee. Enjoy all the benefits of a GM points card without the annual fee. You can also request additional cards at no extra charge.
  • Purchase insurance. Most products purchased with your card are insured against theft, loss, or damage . Many also come with an extended warranty.
  • Save on car rentals. Book a rental car with AVIS or Budget and get a 25% discount when you pay with your card.
  • Optional coverage. Pay $1.09 per $100 of average daily balance on your credit card and receive monthly payments to help cover your your credit card bills. This covers you in case of events like disability, job loss, critical illness or loss of life.
  • World class service. Reach out to customer service 24/7 by calling the number on the back of your card. Use this service to report cards missing or stolen, request additional cards, file complaints or resolve issues by speaking directly to an agent.

What to watch out for

  • Limited designs. This deal only applies to Chevrolet, BUICK, GMC or Cadillac cars.
  • Less rewards. This card offers less rewards than the Scotiabank GM Visa Infinite Card (which gives a 5% return on purchases up to $10,000.
  • No travel insurance. This card does not offer a comprehensive travel insurance policy.

What do other customers say?

Customers who are in the market for a new vehicle are pleased with the perks and benefits on offer from the Scotiabank GM Visa Card. For every $1 earned through the card, customers get $1 off their vehicle purchase. This card also comes with zero annual fee, which makes it a good option for those not willing to pay the $79 fee for the Scotiabank GM Visa Infinite Card. This card is not a good fit for those who want to purchase a make or model of vehicle that isn’t supported by the card.

What should I know before I apply

How to apply

  1. Click Go to site on this page to be securely directed to your Scotiabank GM Visa Card application.
  2. Read through the Disclosure Statement details and click Accept & Continue.
  3. Complete the application with details that include your name, email address, social insurance number and birth date.
  4. Review and submit your application.

Bottom line

The Scotiabank GM Visa Card offers big discounts on your next vehicle purchase with no annual fee. Dollar-for-dollar rebates add up quickly, with customers earning up to 5% back on their first $5,000 in purchases.

Frequently asked questions about the Scotiabank GM Visa Card


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