No-Fee Scotiabank Value VISA Card

Consumer (Regular) Card Offer from Scotiabank.

Basic Information

  • 3.99% introductory interest rate on balance transfers for the first 6 months (16.99% after that)◊
  • A great low rate with no annual fee
  • Pay down balances faster
  • Simplify your monthly payments
  • Rates, fees, and other information are effective as of the date published. Subject to change.

3.99%* Intro APR

6 months on BT*Intro APR Period

Good*Credit Needed

See Terms**Grace Period

N/A*Late Payment Fee

APR: 16.99%*
Card Network:VISA
Card Type:- Instant Decision Card
- Low Interest Credit Card

Card Review

Product Rating:
Ratings (4.5 out of 5)

The No-Fee Scotiabank Value Visa card is competitive for a number of reasons. The first is the fact there is no annual fee to achieve the competitive interest rate. The second is the introductory period that allows for transactions to be performed at a very low rate for a specific period of time. Cardholders are able to perform balance transfers when they have a high interest card that they want to pay lower interest on, cash advances, and even foreign transactions. All are done at competitive fees.

Other fees that are included in the account are the penalty fees. There is a penalty APR that is assessed for a specific amount of time after two late payments are made in a row or three late payments are made in a 12 month period. There is also an overlimit fee and a dishonoured cheques fee for the different types of dishonoured cheques. There are also fees for miscellaneous items, such as statement and sales drafts copies.

The review is prepared by staff. Opinions expressed therein are solely those of the reviewer.

Rewards & Benefits

Other Benefits:*See terms and conditions of the card for other benefits
Credit Reporting:Yes

Card Finance & Rates

Introductory APR:3.99%*
Applied Towards:Balance Transfer, Cash Advance, Checks
Introductory Period:6 months on BT*
APR on Purchases: 16.99%*
Annual Fee:$0*
Minimum Credit Line:$500

Balance Transfers

Balance Transfer:Yes*
APR on Balance Transfer:16.99%
Transfer Fee:1.00%

Cash Advances

APR on Cash Advances:16.99%

Other Fees

Additional Fees: Foreign Currency Conversion fee: 2.5%
Dishonoured Payment Fee: $48


To apply for the card you must:

- Be a Canadian Citizen or Landed Immigrant
- Have reached the age of majority in your province/territory (18 years in AB, MB, ON, PE, QC, SK. 19 years in all others)
- Not have declared bankruptcy in the past seven years
- Have a minimum gross monthly income of $1,000 unless you are applying for a student VISA card

Legal Promotion Notice:

The introductory 3.99% interest rate applies to cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions) only (the "Offer"). This rate applies when the new Scotiabank credit card account ("Account") is opened by the defined date (the "Offer End Date") (See terms & conditions of the card) and will continue for 6 months from that date ("the Promotional Period"). This offer cannot be used to transfer a balance from another Scotiabank Account, or to make a payment or deposit to another Scotiabank Account. After the Promotional Period, the 3.99% interest rate on any promotional balances (including any that remain unpaid after the Promotional Period ends) will increase to the preferred interest rate on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions) that applies on your Account. Offer applies only to new Scotiabank credit card accounts opened by the Offer End Date. Former or current Scotiabank credit cardholders that transfer from an existing Scotiabank credit card account or re-open a closed Scotiabank credit card account are excluded from this Offer. Offer may be changed or extended and cannot be combined with any other offer.

The preferred annual interest rates for the Account are: 16.99% on purchases and 16.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions). Rates and fees are subject to change.

The information provided for the No-Fee Scotiabank Value VISA Card is considered to be accurate at the time of posting (Apr 27, 2019). However, we strongly advise site visitors to check the terms and conditions applicable to the product on the card issuers application page prior to completing an application.

Application Security

Please note that all applications feature secure SSL technology for your online protection.

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