When you apply for a credit card, you need it to be one that will allow you to do multiple things, such as transfer balances from high interest cards and obtain cash when you need it. There are a number of ways that the card caters to what you want without you having to pay a fortune for it.
The No-Fee Scotiabank Value Visa card gives cardholders all of the features of a Visa card without the high interest and high fees. There is no annual fee and there is an introductory interest rate. This allows the balance to be paid down faster. When the default rate is in place, it is still highly competitive compared to other cards in its class. This is important to the cardholder because cardholders want to be able to get the most out of their credit limits without having to pay a fortune to do it.
In order to qualify for the card, applicants should be at least the age of majority, a legal immigrant or Canadian citizen, have no bankruptcies within the past 7 years, and meet the minimum income requirements. If these requirements are met and the credit profile is satisfactory, then the account may be approved. To find out if you have been approved, you will receive an email within 24 hours of submitting the application. If no email address is provided, then the decision will be sent to the cardholder via postal mail.
To make the 5 to 10 minute application process move along as fast as possible, you can have all of your information ready. This means having your contact information, employment information, gross monthly income, monthly obligations like child support and spousal support, and monthly housing costs on-hand before you start. This tells the bank what they need to know about you to give you the credit that you are requesting. When you can ensure that the information on the application is as accurate as possible, you increase your chances of being approved for this highly competitive credit card account.
Sometimes you need a little cash and that can be done by having a cash advance from the card. There are different ways you can obtain money from the card. The most common way is to go to an ABM and withdraw the cash for a fee in addition to the ABM fee. This can be done domestically or when traveling abroad.
Cardholders can also go to a financial institution and withdraw cash from the card. This may be necessary when the amount of money needed exceeds the amount of money that the ABM will give. There is a fee for this whether doing the cash advance domestically or abroad.
It is important to check with your terms and conditions, as cash advances can include any non-purchase transaction in which cash is obtained. For instance, the acquisition of a money order with the card could be constituted as a cash advance.
Balance transfers are very useful in that they allow an applicant to transfer the balances from high interest cards to this lower interest card. This is something that individuals are encouraged to do in order to save themselves a lot of money in interest charges on other cards. Without having to pay high interest, thousands of dollars are saved by the average credit cardholder.
When you do a balance transfer, there will be a fee that is charged as a small percentage of the transaction. This is a competitive fee, still allowing you to save a great deal of money on interest despite that fee. This works well for those that are feeling bogged down by higher interest credit cards. It can be quite a relief to relieve that burden rather than have to settle with it for a long period of time.
Fraud prevention is another element of this card that is important. It is possible for you to expand your card security simply through knowledge. Scotiabank will help you recognize fraud, tell you how to report it, and that will let you know how to stop it. You are also given a hotline to call that is easy to remember in case your card is lost or stolen.
You can utilize the different tools that are available to protect the card, such as the antivirus protection and tips and tricks that will prevent fraud. However, when reasonable security responsibilities have taken place, the cardholder will not be responsible for fraudulent charges.
To ensure security responsibility, the card should not be given to other individuals to use, it should only be used with secure websites, and it should be used at points of sale where you can keep an eye on your card.
OnLine Financial Services
Online financial services allow you to keep an eye on your card any time you want. In other words, you are able to check your balance, your minimum monthly payments, and other details at any time through the OnLine Financial Services option. You register for an account and you can then check the details of your account from a mobile device that is connected to the Internet. You will want to ensure mobile security, online security, and browser security, but the convenience keeps you from having to call customer service to get details about your account. This is a good way to identify fraud. If you notice fraudulent activity on your account, you can contact Scotiabank as soon as possible to let them know. Nearly every question that you could have about your account can be answered through OnLine Financial Services. Anything that cannot be answered can be taken care of by calling customer service.
The No-Fee Scotiabank Value Visa card gives you what you want the way you want it with low rates, no annual fee, low fees, and even the opportunity to make at least one late payment without penalty. Combined with the ability to avoid interest on purchases and effectively manage the account, it is possible to get the most out of the card.