Scotiabank Value® Visa* card Review

Balance Transfer Intro Rate
Balance Transfer Intro Rate Duration
6 Months
Regular Balance Transfer Rate
Purchase APR
Annual Fee
Recommended Credit Score
740 850 670 739 580 669 0 579
0.00% introductory interest rate on Cash Advances for the first 6 months (12.99% after that). Plus no annual fee in the first year. Terms and conditions apply.

Best Balance Transfer CardThe Scotiabank Value® Visa* card is notable for offering a post-promotional APR of 12.99, a very low post-promotional rate for balance transfer cards. Its promotional period offers a 0.00%* APR on balance transfers for 6 months (1% balance transfer fee applies), terms and conditions apply. It also comes with an annual fee of $29 (no annual fee in first year), 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 12.99%
  • 0.00%* introductory interest rate on balance transfers for the first 6 months with a 1% balance transfer fee (12.99% after that), terms and conditions apply
  • $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.

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Compare to Other Balance Transfer Cards

 Balance Transfer Intro Interest RateIntro Interest Rate LengthBalance Transfer FeeCard’s Annual FeeSupports Quick Checkout
Scotia Value Visa0.00%*6 months1% during promotional period$29.00Yes
MBNA Platinum PlusN/AN/A$7.50/1%$0.00No
RBC Cash Back Mastercard1.90%10 months$3.50

Why We Like It

  1. Low Interest Rates
    Value Visa’s 12.99% 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 0.00%* rate on balance transfers for the first 6 months, 1% balance transfer fee applies (12.99% after)
  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 Scotiabank Value® Visa* card 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.

Click Here to Apply

* Offer Description and Conditions found on Scotiabank’s website at the Apply Now button.

This post was not sponsored. The views and opinions expressed in this review are purely my own.

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Article comments

1 comment
taz says:

The 20% Avis discount is absolutely not adding $29 of value. For one, this applies to all Scotiabank Visas, including free ones. Plus, Avis constantly has promotions open to everyone saving you “up to 20%” and the promotions cannot be combined. So this “perk” is effectively nothing but an advertisement for Avis and has no real value.

Basically, you’re paying $29 for the low rate. The APR is 5% lower than the no-fee version of this card, and the balance transfer promo rate is 3% cheaper. What this means is the $29 version starts saving you more than the no-fee version when you carry an average balance higher than $580 per year, or you balance transfer more than $1933 for the 6 months.

One case where this card makes sense is if you carry a balance, have credit problems and aren’t able to be approved for any new cards, and you already have another card with Scotiabank. Scotiabank allows you to switch between card types without doing a new credit application. However the 6 month special only applies to new applications, so you would only get to benefit from the 11.99% rate.