Scotiabank Value Visa Card Review

Balance Transfer Intro Rate
Regular Balance Transfer Rate
Balance Transfer Intro Rate Duration
6 Months
Annual Fees
Recommended Credit Score
740 850 670 739 580 669 0 579
0.99% introductory interest rate on balance transfers for the first 6 months* Save hundreds of dollars in interest a year

The Scotiabank Value® Visa is notable for offering a post-promotional APR of 11.99%, a very low post-promotional rate for balance transfer cards. Its promotional period offers a 0.99% APR on balance transfers, but this promotion lasts for a relatively short amount of time compared to other balance transfer card options. It also comes with an annual fee of $29, while its competitors currently do not charge an annual fee.

At a Glance

  • Consolidate fees from high interest cards
  • Benefit from low post-promotional interest rate of 11.99%
  • Introductory 0.99% rate on balance transfers for first 6 months
  • $29 annual fee
  • Optional free supplementary card
  • Discounts of up to 20.00% when renting cars from Avis
  • Checkout faster with Visa payWave

There are a few card highlights that diversify the card’s usability and set it apart from standard balance transfer cards. Frequent travelers can benefit from their time on the road, with customers eligible to receive a 20% discount on Avis car rentals. The card also provides additional ease when making small purchases. When you’re on the go, the payWave feature saves time at checkout by allowing you to simply wave the card or use the mobile phone application to pay.

Compare to Other Balance Transfer Cards

 Balance Transfer Intro Interest RateIntro Interest Rate LengthBalance Transfer FeeCard’s Annual FeeSupports Quick Checkout
Scotia Value Visa0.99%6 months$3.50$29.00Yes
MBNA Platinum Plus0.00%12 months$7.50/1%$0.00No
RBC Cash Back Mastercard1.90%10 months$3.50
Zoomer MBNA Rewards Mastercard1.99% 10 months$7.50/1%$0.00No

Why We Like It

  1. Low Interest Rates
    Value Visa’s 11.99% APR is one of the lowest available from Scotia, and it’s a rare flat rate, applying not only to balance transfers but also to purchases, cash advances and Credit Card Cheques. This is unusual in the balance transfer realm, where different interest rates typically apply to different uses of the card.
  2. Low Introductory Balance Transfer Rate
    New cardholders are eligible to receive a promotional 0.99% rate on balance transfers for the first 6 months.
  3. Free Supplemental Card
    The Scotiabank Value Visa Card presents a solution for customers needing additional cards. Scotiabank offers a free supplemental card for spouses or family members, with the extra card included in the single yearly fee.
  4. Save on Car Rentals
    Value Visa cardholders are eligible to receive discounts of up to 20.00% when renting from participating Avis Car Rental locations. Drivers can pocket valuable funds from road trips and vacations to spend as they like.
  5. Quick Checkout Options
    The card supports Visa payWave, allowing customers to simply wave their card or phone application at payWave-enabled cash registers quickly.  For online purchases, cardholders can take advantage of Visa Checkout to make online checkouts more rapid as well.

Is It Worth It?

The Value Visa Card by Scotiabank is a good option for those looking to do a balance transfer, but who also want a more versatile card for use beyond the balance transfer itself. Some may not be able to see past the $29 annual fee, but this can easily be made up for if the cardholder rents cars from Avis.

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