The Scotiabank Value Visa Card is a low interest card with an annual fee of around $29. In addition, the card offers a 0.99% introductory rate on cash advance and balance transfers for the first six months. This makes it ideal for consolidating debt from higher rate cards while also improving your credit score.
Even if you can’t pay off all of the debt transferred at signup during the first six months of the introductory deal, you can still benefit from the comparatively low regular rate of 12.99% after that.
Read on to learn more about the features and benefits of the Scotiabank* Value Visa Card.

Scotiabank Value Visa Card At A Glance

• 0.99% promotional interest rate on cash advance and balance transfers for the first six months
• Up to 20.00% off when renting cars from Avis
• $29 Annual fee
• Low 12.99% interest rate on cash advances, purchases and balance transfers after the promotional period
• Optional free supplementary card

Scotiabank Value Visa Card Benefits

Among the many benefits of Scotiabank Value Visa Card are:

1. Sign Up Bonus

The Scotiabank* value visa card promotional cash advance and balance transfer rate of 0.99% are among the lowest in Canada. That means you can transfer debt from an older credit card to this card and pay almost no interest for the first six months. If you don’t pay off the transferred sum in full within six months, the interest rate will increase to only 12.99%. This is also more affordable than the usual 19.99% charged by most rewards credit cards. This 12.99% interest rate also applies to everyday purchases and credit card cheques. This is unique in the credit card market, where different interest rates typically apply to various card uses.

2. No additional cost on Supplementary Card

The Scotiabank Value Visa Card offers an additional card for family and friends at no extra cost.

3. Save on Car Rentals

Card holders who rent a vehicle at any participating AVIS location in Canada will receive up to a 25% discount on the rental price.

Some Drawbacks of Scotiabank Value Visa Card 

The Value Visa card offers few additional rewards due to its low-interest rates and the 0.99% introductory rate for balance transfers and cash advances. Secondly, the card has a typical six months balance transfer period. This is less than the regular ten months period from other top balance transfer cards.

Requirements For Approval

Firstly, to be eligible for the Scotiabank* Value Visa card, you must be a Canadian citizen or permanent resident and be at least the age of majority. However, this varies based on your province or territory.

Secondly, you must have a minimum annual income of $12,000. And finally, the card has a $500 minimum monthly credit limit, so you’ll need to prove your credibility up to that limit.

In conclusion

If you’re looking for a low-interest card to reduce your credit card balances and save money, the Scotiabank* Value Visa Card is your best bet.

If you carry debt frequently, low-interest cards will likely be more useful to you than reward cards. So, paying a $29 annual fee to gain access to low interest rates offered by this card is a good bargain.