Reviewed by Jen, founder of MoneyMint · Updated September 30, 2026
Scotiabank Value® Visa* Card
Our take: a $29-a-year card built around a 13.99% purchase rate rather than rewards — worth a look if you sometimes carry a balance.
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The Scotiabank Value Visa Card trades rewards for a low 13.99% ongoing interest rate on purchases and cash advances — it has no cash back or points program at all. A $29 annual fee applies after a waived first year, and a current promotion offers 0% on balance transfers for 9 months. It’s built for people who sometimes carry a balance, not for maximizing rewards — worth keeping in mind, since our rating criteria weight rewards value alongside fees, flexibility, and eligibility transparency.
MoneyMint rating
#4 of 7 low-interest and no-rewards cards · How we rate
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Further Reading
Scotiabank Value Visa Card
Low-rate card · $29/year · $100 Mint Rebate from MoneyMint
This is general information, not personalized financial advice — consider your own spending habits and consult a professional for decisions specific to your situation. Rates, fees, and offers are set by Scotiabank and can change without notice; always confirm current terms on the issuer’s official page before applying.
Frequently Asked Questions
What is the annual fee for the Scotiabank Value Visa Card?
The Scotiabank Value Visa Card has an annual fee of $29 (first-year fee currently waived for the primary cardholder under an active promo). A separate $0-fee ‘No-Fee Scotiabank Value Visa’ product also exists with a different rate — this entry covers the standard fee-bearing Value Visa.
What is the rewards rate on the Scotiabank Value Visa Card?
The Scotiabank Value Visa Card offers: No points, cash back, or miles rewards program — this is a low-interest-rate card by design, not a rewards card. The only ancillary perk is up to 5 cents/litre in fuel savings at Shell through the Shell Go+ program.
Does the Scotiabank Value Visa Card have a welcome bonus?
First-year annual fee waiver for the primary cardholder ($29), plus a 0% introductory interest rate on balance transfers for the first 9 months*. A 1% balance transfer fee (minimum $5) applies to each transfer, and any balance still unpaid after 9 months moves to the regular 13.99% rate. Both offers are for new accounts opened between July 2, 2026 and January 3, 2027.
What credit score do I need to qualify for the Scotiabank Value Visa Card?
Generally, you’ll want a very good credit score to be considered for the Scotiabank Value Visa Card. Approval also depends on income and overall credit history, not credit score alone.
Does the Scotiabank Value Visa Card charge foreign transaction fees?
2.5% (standard Scotiabank foreign currency conversion fee — not listed among the premium cards exempted from this fee)
Offer Terms and Conditions
*Terms and conditions apply. See Card Provider’s website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
* Offer Description and Conditions: The Introductory 0% Balance Transfer Rate and First Year Annual Fee Waiver Offer (the “Offer”) applies only to new Scotiabank Value Visa credit card accounts (“Accounts”) that are opened between July 2, 2026 and January 3, 2027 (regardless of the date you apply for the Account) subject to the conditions below. We will waive the annual fee for the primary card on the Account for the first year only. Offer may be changed, cancelled or extended at any time without notice and cannot be combined with any other offers.
Introductory 0% Balance Transfer Rate Offer Description and Conditions: The Introductory 0% Balance Transfer Rate Offer (the “BT Rate Offer”) applies only to eligible cash advances (including balance transfers and cash-like transactions) (collectively “Cash Advances”) subject to the conditions below. This introductory rate applies for 9 months from date of Account opening (the “BT Promotional Period”). A balance transfer fee of 1% of the amount of each Cash Advance transferred or made during the BT Promotional Period applies (minimum fee of $5.00). After the BT Promotional Period, the promotional 0% interest rate on any Cash Advances (including any amount of those Cash Advances that remain unpaid after the BT Promotional Period ends) will increase to the preferred interest rate on Cash Advances (currently 13.99%).
This BT Rate Offer is subject to any Cash Advance limits on your Account. This BT Rate Offer also is subject to the approved credit limit that is being offered to you as of the date of this BT Rate Offer. This means if a balance transfer amount(s) requested exceeds your approved credit limit as of the date this BT Rate Offer was provided to you, it may not be processed. This BT Rate Offer cannot be used for any Scotiabank account including to transfer a balance from another Scotiabank account, or to make a payment or deposit to another Scotiabank account.
Losing your Promotional Rate: If we don’t receive the minimum payment on your Account by the payment due date on your statement, two consecutive times, you will lose the benefit of this promotional BT Rate Offer and the interest rates that apply on any unpaid balance will increase to the standard annual interest rates that apply to your Account (currently 24.99% on purchases and 27.99% on Cash Advances).
How We Apply Payments: Your payment cannot be applied to the balance(s) of your choice. For Quebec residents: In general, if you have different interest rate(s) that apply to your Account, we apply payments to transactions based on the interest rate(s) that applies to those transactions on your Account (from highest to lowest rates). For non-Quebec residents: In general, if you make a payment that exceeds the minimum payment on your statement, we will apply your payment on a proportionate basis among each group of billed charges on your Account. We group charges based on the interest rate that applies to the group of charges. See your credit card agreement for more information about how we apply payments to your Account.
First Year Annual Fee Waiver Offer Description and Conditions: We will waive the annual fee for the primary card issued between July 2, 2026 and January 3, 2027 on the Account for the first year only.
Eligibility and Exclusions: Individuals who are currently or were previously primary or secondary cardholders of a Scotiabank personal credit card in the past 2 years, including those that switched to an existing Scotiabank personal credit card are not eligible for the Offer (and subject to these exclusions, individuals with a Scotiabank business credit card are also eligible for the Offer). By accepting this Offer you confirm you meet all Offer eligibility requirements. We reserve the right to revoke this Offer at any time if we determine you do not meet the Offer eligibility requirements, including after you have accepted the Offer or been approved for the Account.
Rates and Fees: The current annual fee is $29 for the primary card and $0 for each additional card (including those issued to co-borrowers and supplementary cardholders). The current preferred annual interest rates for the Account are 13.99% on purchases and 13.99% on Cash Advances. All rates, fees, features and benefits are outlined in the Application Disclosure Statement and are subject to change.