No-Fee Scotiabank Value Visa Card Review

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Get a low interest rate on cash advances and purchases made with No-Fee Scotiabank Value Visa Card.

The No-Fee Scotiabank Value Visa Card offers a low-interest rate of 16.99% on outstanding balances instead of cash back or rewards.


Purchase Interest Rate


Annual Fee

3.99% for the first 6 months (then 16.99%)

Balance Transfer Rate


Product NameNo-Fee Scotiabank Value Visa Card
RewardSave with a low interest rate and no annual fee
Welcome OfferOffers a 3.99% introductory interest rate on balance transfers with 0% transfer fee for the first 6 months. Ends March 1, 2020.
Purchase Interest Rate16.99%
Cash Advance Rate16.99%
Balance Transfer Rate3.99% for the first 6 months (then 16.99%)
Interest Free Period Up to 21 days
Minimum Credit Limit$500
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More Info

30-second take

  • Get this card if you want a low interest rate on daily purchases but don’t want to pay an annual fee.
  • Choose something else if you’re looking for a cashback or rewards program.
  • You must have a minimum annual income of $12,000 to qualify for this card.

The basics

If you’re having trouble paying your monthly minimum payments or you’re looking to finance a medium-to-large purchase on your credit card, then the No-Fee Scotiabank Value Visa Card might be the right fit for you. Save up to hundreds of dollars per year with a lower-than-average interest rate (16.99%). If you’re looking to consolidate debt onto one card, you can also take advantage of a 3.99% introductory balance transfer offer.

Optional Balance Transfer Offer

Qualify to transfer all of your existing credit card balances over to this low-interest card and pay only 3.99% on these amounts in your first 6 months with 0% transfer fee. When the 6 months is up, your interest rate will go up to 16.99% on amounts left unpaid.

The perks

  • No annual fee. Provides a zero-charge service in exchange for a low interest rate on all purchases and cash advances. You can also request an additional card at no extra charge.
  • Quick pay. Pay for purchases in a flash when you use Visa payWave. Keep an eye out for the payWave logo to make payments using this service where available. You can also securely make payments on your purchases through Apple Pay.
  • Optional insurance coverage. Pay $1.09 per $100 of average daily balance on your credit card and receive financial protection from a range of life events, including disability, job loss, critical illness and loss of life.
  • Save on car rentals. Book with AVIS and Budget car rental locations in Canada and the U.S. and save up to 25% when you pay with your No-Fee Scotiabank Value Visa Card.
  • World class service. Reach out to customer service 24/7 by calling the number on the back of your card. You can 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

  • No rewards or cashback. The low interest rate replaces a rewards or cashback return as the main incentive.
  • No purchase insurance or warranty coverage. Purchases made with this card are not covered for loss, damage or additional warranty protection.
  • No travel insurance. The card does not offer complimentary travel or health insurance coverage.

What do other customers say?

The No-Fee Scotiabank Value Visa Card is a good alternative for customers who don’t want to pay an annual fee in return for a low interest rate. Some customers feel that the even lower 12.99% interest rate offered on the No-Fee Scotiabank Value Visa Card (which comes with a $29 annual fee) is a better deal. This card is not a good fit for those customers looking to make cash bonus or reward points on purchases and cash advances.

What should I know before I apply

How to apply

  1. Click Go to site on this page to be securely directed to your No-Fee Scotiabank Value 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 No-Fee Scotiabank Value Visa Cardoffers a no-frills low-interest rate card with no annual fee. This card boasts a 16.99% interest rate and an introductory balance transfer rate of 3.99%. If you would prefer to have an even lower interest rate on your credit card, you might like to check out the Scotiabank Value Visa Card to qualify for better benefits.

Frequently asked questions about the Scotiabank Value No-Fee Visa Card


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