Scotiabank Value® Visa* Card
Not yet rated
Balance transfer
Card highlights
Interest saving potential
Based on transferring $5,000 vs. keeping it on a 21.99% card
Ratehub’s review
Natasha Macmillan
The Scotiabank Value Visa stands out as an excellent balance transfer credit card for students and newcomers to Canada, offering a favourable 0.99% introductory interest rate on balance transfers for the first 9 months. With no minimum income requirement and a low 12.99% interest rate, this card is a great option for consolidating debt. However, it’s important to consider that there are no rewards or additional perks with this card.
Pros
- Annual fee waiver: Waived annual fee if you have a Preferred or Ultimate banking package with Scotiabank
- Rental car discount: Get a 25% discount on rental cars at participating Avis locations
- Installment payment option: Pay off purchases of $100 or more with no-interest monthly installments as part of the Scotia SelectPay program
Cons
- No rewards or cash back: This card does not offer any rewards or cash back earning potential
- No additional perks or features
Balance transfer savings potential
See how much interest you could save by moving your debt.
Promo structure
0% for 9 months then 13.99% after.
Balance transfer fee of 1%
Your savings potential
Interest saved
Based on transferring $5,000 vs. keeping it on a 21.99% card
Debt-free by
$5,038 total payments to clear debt
Perks & insurance
Perks and insurance coverage included with the card.
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| No foreign exchange fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Extended warranty | Not included | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Not included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
| Insurance | Details | |
|---|---|---|
| Travel accident insurance | Not included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Not included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Not included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Not included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Not included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Not included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Not included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Not included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Not included | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
Details & eligibility
Fees
- Annual fee
- $0 for the first year, then $29 per year after
- Balance transfer fee
- 1% of transferred balance
Rates
- Purchase interest
- 13.99%
- Balance transfer rate
- 0.00% for 9 months, then 13.99%
- Cash advance rate
- 13.99%
Type
- Provider
- Scotiabank
- Card type
- Low interest
- Payment network
- VISA
Eligibility
- Minimum personal income
- $12,000
- Minimum household income
- N/A
- Minimum credit score
- 725+