Scotiabank Value Visa Card
CREDIT CARD REVIEW
🎁 First-year fee waived + 0% on balance transfers for 9 months
MoneyMint Rating: 2.7/5 — based on our published rating criteria (rewards value, fees, flexibility, and eligibility transparency). Not sponsored by Scotiabank.
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.
At a Glance
Annual fee
$29/yrwaived for the first year under the current promo
Purchase APR
13.99%notably lower than most cards (often 20%+)
Cash advance APR
13.99%same as purchase rate
Rewards rate
Noneno cash back or points program
Foreign transaction fee
2.5%no exemption on this card
Rewards currency
Nonenot a rewards card
Income requirement
Not disclosedno minimum published
Issuer
Scotiabankminimum credit score not published
Pros & Cons
Pros
- 13.99% purchase and cash advance APR — meaningfully lower than most cards (often 20%+)
- $29 annual fee, waived entirely in year one
- Current promo: 0% on balance transfers for 9 months (1% transfer fee)
- Shell fuel savings and Avis/Budget rental discounts
- Straightforward, no category tracking or redemption hassle
Cons
- No rewards, cash back, or points program of any kind
- No purchase protection or extended warranty confirmed
- No travel medical or trip insurance — Scotiabank’s own page notes it isn’t suited to those needing travel coverage
- 2.5% foreign transaction fee with no exemption
- $29 annual fee returns after year one
Interest Rate & Rewards
This card has no cash back, points, or rewards program of any kind — its value comes entirely from the lower ongoing interest rate.
Perks & Benefits
Everyday Perks
- Shell fuel savings, up to 5¢/litre
- Up to 25% off Avis/Budget car rentals
- Visa payWave, Apple Pay/Google Pay support
- Scotia SelectPay installment option
Coverage & Fees
- 2.5% foreign transaction fee (no exemption on this card)
- Visa Zero Liability fraud protection
- Optional paid Scotia Credit Card Protection insurance (add-on, not included)
Worth Knowing
- No purchase protection or extended warranty confirmed
- No travel medical, trip cancellation, or baggage insurance
- Minimum income and credit score not published
Who It’s For
Best For
- Anyone who sometimes carries a balance and wants to minimize interest costs
- Cardholders using the 0% balance transfer promo to pay down debt
- People who don’t want to track categories or manage a rewards program
Not For
- Anyone who pays their balance in full every month and wants rewards
- Frequent travelers who want built-in travel insurance
- International spenders looking for FX fee exemptions
Key Drawbacks to Know Before Applying
This card has no rewards program at all, so if you pay your balance in full every month, you’re leaving value on the table compared to a cash back or points card. It also doesn’t include travel medical insurance, trip cancellation coverage, or confirmed purchase protection — benefits that are standard on many rewards cards. The $29 annual fee returns after year one, and the 2.5% foreign transaction fee applies with no exemption. This card only makes sense if the lower 13.99% interest rate is worth more to you than rewards — typically because you sometimes carry a balance.
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.