No-Fee Scotiabank Value VISA card

No-Fee Scotiabank Value® VISA* card

Card Features

  • 3.99% introductory interest rate on balance transfers for the first 6 months (16.99% after that)◊
  • A great low rate with no annual fee
  • Pay down balances faster
  • Simplify your monthly payments
  • Rates, fees and other information are effective as of February 1, 2018. Subject to change.

◊ The introductory 3.99% interest rate applies only to cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions) (collectively “Cash Advances”) subject to the conditions below (the “Offer”). This rate applies when the new Scotiabank credit card account (“Account”) is opened by June 30, 2019 and will continue for 6 months from date of Account opening (the “Promotional Period”). This Offer cannot be used to transfer a balance from another Scotiabank Account, or to make a payment or deposit to another Scotiabank Account. After the Promotional Period, the 3.99% interest rate on any promotional balance transfers (including any that remain unpaid after the Promotional Period ends) will increase to the preferred interest rate on Cash Advances (currently 16.99%). If you don’t pay the minimum payment on your Account by the payment due date on your statement, two times in any consecutive 12-month period, you will lose the benefit of this promotional 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). 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. Your payment cannot be applied to the balance(s) of your choice. See your credit card agreement for more information about how we apply payments to your Account.

A Balance Transfer fee of 0% of the amount of each Balance Transfer transferred during the Promotional Period applies to this Offer.

Former or current Scotiabank credit cardholders of any kind in the past 2 years, including those that transfer from an existing Scotiabank credit card account or re-open a closed Scotiabank credit card account, are excluded from this Offer.
There is currently no annual fee for the primary card and no fee for each additional supplementary card.

The current preferred annual interest rates for the Account are: 16.99% on purchases and 16.99% on Cash Advances.

All rates, fees, features and benefits are subject to change. Offers may be changed, cancelled or extended and cannot be combined with any other offers.

Interest Rates

Purchase APR: 16.99%

Balance Transfer APR: 16.99%

Cash Advance APR: 16.99%

Annual Fee

$0

Pros

  • No frills card designed for balance transfers

Cons

  • The intro rate could be longer

Bonus Offer

None

Introductory Rates

3.99% introductory interest rate on balance transfers for the first 6 months*

Reward Earnings Rate

No rewards

Additional Details

Grace Period: 21 Days

Minimum Credit Limit: $500

Fees

Balance Transfer Fee: 1.00%

Cash Advance Fee: $2.50

Foreign Transaction Fee: 2.5%

Over Credit Limit Fee: $29