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Scotiabank Value Visa Card Review

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Scotiabank is one of the most trusted banks in Canada, offering several varieties of chequing and savings accounts for customers at every stage of their financial life.

In fact, with favorable packages offered to both students and seniors, the bank is well known for providing perks to groups who may otherwise feel overlooked by many swanky promotions.

Scotiabank’s unexpected practical benefits are a theme that is continued with the Scotiabank Value Visa Card, its basic but advantageous credit card.

While the internet is full of accolades for this card, is the hype deserved? Let’s get down to the nitty-gritty in this Scotiabank Value Visa Card review.

Scotiabank Value Visa

Scotiabank Value Visa Card

Rated 4.6/5 stars.

  • Welcome Offer 0% interest on Cash Advances for first 6 months
  • Annual Fee $29
  • Regular APR Purchases: 12.99%, Cash Advances: 12.99%
  • Recommended Credit 560 - 659

A Scotiabank Value Visa Card Review for 2024

The Value Visa Card is Scotiabank’s answer to a basic no-frills credit card.

With a 0.99% introductory interest rate and no balance transfer fee, this is more than just a simple balance transfer credit card.

This promotional rate and low balance transfer fee make the card a viable option for anyone looking to save on interest payments by shifting balances between cards.

The Scotiabank Value Visa Card is also a great option for those who do not have the exceptional credit scores that are often required by high reward cards. Those who cannot guarantee that they will pay off their credit card balance in full every cycle could benefit from the low interest rate too.

As a bonus, while most value credit cards will offer nothing in the way of rewards programs or promotions, this card does throw in one great perk for frequent travelers.

Balance Transfer Perks

The Scotiabank Value Visa is a solid balance transfer credit card that allows cardholders to pay no balance transfer fees at the time of transfer. Its current balance transfer offer is 0.99% interest for the first six months.

However, what sets this card apart is its unusually low regular APR with an interest rate of 12.99%. You’d be hard-pressed to find a lower interest rate as most credit cards hover around the 19.99% mark.

Low-Interest Rates

Even if you are not successful in paying off your balance in the first six months, you can still benefit from a low-interest rate.

This may help ease some of the panic for those going down the balance transfer route as they won’t be drowning in debt brought on by a high APR — often, it’s the unforgiving interest rates that make it so hard to crawl out.

Scotiabank Value Visa cardholders can also take advantage of this low-interest rate on cash advances and credit card cheques. 12.99% is the lowest interest rate available on a Scotiabank credit card.

Car Rental Discounts

While the card does not come with shiny travel rewards or cashback offers, it does grant you a way to save on car rentals. Cardholders can save up to 25% (a percentage that can certainly add up if you do a lot of traveling!) at participating Avis and Budget car rental locations.

Eligibility Requirements and Practical Info

The Scotiabank Value Visa Card carries an annual fee of $29 and has a minimum credit limit of $500.

Qualifying applicants will need to have a credit score that is fair (think mid-600s) or above, and they must have a minimum annual income of $12,000.

As mentioned earlier, the balance transfer offer of 0.99% interest lasts for six months, after which the regular 12.99% interest rate kicks in.

Cardholders can request a supplementary card at no extra cost if they would like to add a secondary cardholder such as a child or spouse.

Scotiabank Value Visa Card Pros & Cons


  • Low 12.99% interest rate on cash advances, credit card cheques, and balances

  • No balance transfer fee

  • Relatively low qualifying requirements (fair credit score and minimum annual income of $12,000)

  • Free supplemental card

  • Enables the use of the Scotiabank mobile banking app for quick checkout at participating retailers


  • Carries an annual fee (only $29 though)

  • Lack of rewards or perks

  • The six-month promotional period for the balance transfer rate is relatively short

Our Final Thoughts

This low-interest card can be a huge burden lifter to anyone struggling with credit card debt. While it does not provide the perks of a fancier credit card, the fact that it offers a stellar balance transfer option, as well as a regularly low-interest rate, makes it a wonderful choice for anyone who finds themself spending hundreds of dollars on interest every year.

The Avis and Budget car rental discounts are also a nice bonus, as is the low annual fee and free supplementary card.

Overall, this is a fantastic option for anyone looking to pay off credit card debt or repair their credit.

When determining whether or not this card is for you, it may be worth investigating how much money you have spent on credit card interest over the years.

If it adds up to hundreds of dollars or more, it may be time to consider transferring your balance to a card with a lower interest rate. The Scotiabank Value Visa is one to consider.

Frequently Asked Questions

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