Scotiabank Value Visa
Built around a low interest rate rather than rewards, it suits anyone who expects to carry a balance sometimes.
Scotiabank’s Value Visa trades rewards for a lower interest rate: 13.99% on both purchases and cash advances.
The card suits people whose cash flow is uneven and who can end up carrying a balance. It has no points, so its appeal is cost.
Besides the rate, new eligible accounts get a first-year fee waiver and a 0% balance transfer period of 9 months.
Why is the Scotiabank Value Visa worth it?
Compare 13.99% with the 20% and higher rates of many rewards cards, and the difference on a carried balance adds up quickly. That gap is the reason this card exists.
Advantages
- Interest of 13.99% on purchases and cash advances alike
- $29 annual fee waived in year one (accounts opened July 2, 2026 to January 3, 2027)
- 0% on balance transfers for 9 months, then 13.99%
- Supplementary cards at $0 a year
- Shell fuel savings of up to 5 cents per litre and up to 25% off at Avis and Budget
Disadvantages
- No cash back, points or other rewards on purchases
- After the first year you pay $29 annually
- Transfers carry a 1% fee, minimum $5
- The offer is closed to anyone with a Scotiabank personal credit card in the last 2 years
Important notice: this content is informational and based on official sources. We do not act as a financial intermediary.
Inside the Scotiabank Value Visa
Scotiabank issues this Visa as part of its low-interest group of cards. Everything revolves around the pricing rather than around a rewards structure.
Purchases and cash advances use the same rate. Balance transfers are the only item with separate terms: 0% for 9 months, then back to 13.99%, up to a maximum of $49,999.99.
Key information
- Issuer and network: Scotiabank, Visa
- Fee: $29 per year, waived the first year with the offer
- Rate on purchases and cash advances: 13.99%
- Transfer rate: 0% for 9 months, then 13.99%
- Transfer cost: 1% of the amount, minimum $5
- Lowest credit limit: $500
- Extra cards: $0 per year
Last updated: 01/10/2026
Digital platform: Apple Pay, Google Pay and SelectPay
The card works with Apple Pay and Google Pay. Scotia SelectPay is an instalment option for purchases. The product page does not mention a dedicated app for this card.
Who is the Scotiabank Value Visa ideal for?
A good fit for borrowers who want predictable, lower-cost credit, such as someone paying off a purchase over several months or moving a balance from a pricier card.
Not a fit for people who clear their statement every month and want rewards, or for those who held a Scotiabank personal card within the last 2 years and want the promotion.
Common questions
Does this card give cash back?
No. It has no rewards program; the value is the lower interest rate.
Is there a fee after the first year?
Yes. The annual fee is $29, waived only for the first year of eligible accounts.
What is the balance transfer promotion?
0% for 9 months, then the standard 13.99%, with a 1% fee (minimum $5) on accounts opened between July 2, 2026 and January 3, 2027.
Is the Scotiabank Value Visa a good option?
A sensible pick if you will carry a balance and want to pay less for it. If you do not, the card gives you nothing in return for the $29 yearly fee after year one.
Visit the details page for requirements, application steps and contact information.
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