February 8, 2017
A balance transfer is the act of moving high interest debt from one card to another card with a lower interest rate. The result is lower interest payments and the ability to pay down the debt faster. Before you apply, be sure to have your existing account details ready as you will want to request a balance transfer with your application. Be sure to read the fine print on the application page for details of each balance transfer offer.
|Annual Fee||Purchase APR||Balance Transfer APR||Cash Advance APR||$99||19.99%||1.99% in the first 6 months||22.99%|
1 You will earn 10% cash back (the “Offer”) on the first $2,000 in eligible purchases posted to your new Scotia Momentum® Visa Infinite* credit card account (the “Account”) beginning on the Account open date and ending 3 months after that date or when you reach the maximum cash back value of $200, whichever comes first (the “Offer End Date”). Eligible purchases include purchases (less any refunds, returns or other similar credits) but do not include payments, cash advances (including balance transfers, Scotia® Credit Card Cheques or cash-like transactions), interest, fees or other charges. After the Offer End Date, you will earn regular cash back on purchases at the regular cash back rate described in the Scotia Momentum Visa Infinite Cash Back Program (the “Program”) that applies to the Account (the “Cash Back Program Rate”). The 10% cash back rate for any category is made up of the sum of: (i) the regular Cash Back Program Rate (variable by categories as set out under the Program); and (ii) a “Bonus Cash Back Rate”. Cash back earned under this Offer will be credited to your Account in 2 instalments so long as your Account is open and in good standing at time of payout of each:
1. Bonus Cash Back Rate: The amount earned under the Cash Back Bonus Rate will be credited to your Account within 2- 3 months after the Offer End Date; and
2. Regular Cash Back Rate: The amount earned under your regular Cash Back Program Rate will be credited to your Account according to the regular cash back payment schedule as set out under your Program (November).
EXAMPLE: If the regular Cash Back Program Rate for the Gas Stations and Grocery Stores category is 4% then the Cash Back Bonus Rate will be 6% for that category so that you will earn a total of 10% on the amount of all eligible everyday purchases in that category until the Offer End Date. If you make $2,000 in eligible everyday purchases in the Gas Stations and Grocery Stores category, your cash back earnings will be credited to your Account as follows:
First, the Cash Back Bonus Rate of 6% x $2,000 = $120 will be credited to your Account within 2-3 months of the Offer End Date.
Secondly, the Cash Back Program Rate of 4% x $2,000 = $80 will be credited to your Account as per the regular cash back payment schedule (November).
The Account is considered in good standing if it is not delinquent (past due) or over limit and the Cardholder(s) is not in breach of the Revolving Credit Agreement that applies to the Account.
All other terms of the Scotia Momentum® Visa Infinite* Cash Back Program Terms and Conditions apply. Offer applies to a new Account only opened by April 30, 2019.
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 not eligible for this Offer. 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.
◊ We will waive the initial annual fee for the primary card and each additional supplementary card for the first year. Offer applies to new Scotiabank credit card account (“Accounts”) only that are opened by April 30, 2019. Any additional supplementary cards must be issued by April 30, 2019 to qualify. 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.
The current annual fee is $99 for the primary card and $30 for each additional supplementary card.
The current preferred annual interest rates for the Account are: 19.99% on purchases and 22.99% on cash advances (including balance transfers, Scotia® Credit Card Cheques and cash-like transactions). All rates, fees, features and benefits are subject to change. Offers may change, be extended and cannot be combined with any other offers.
†Based on a $99 annual fee waiver in the first year and a potential cash back earning of up to $200 during the offer period.
|Annual Fee||Purchase APR||Balance Transfer APR||Cash Advance APR||First year free, then $99||19.99%||22.99%||22.99%|
† Promotional Rates: Balance Transfers: 1.99%
This Promotional Rate applies to any balance transfers made within 90 days of your account opening (each, an “eligible transaction”) and will remain in effect for 10 Statement Periods from the transaction date of each eligible transaction. The Promotional Rate will increase and the remaining balance of the eligible transaction will become subject to the Standard Rate for balance transfers either: (1) on the first day of the first Statement Period that occurs after the expiry of the Promotional Rate; or (2) on the first day of the second Statement Period following any late Minimum Payment. Other conditions apply. Offer may be changed, extended or withdrawn at any time, without notice.
Standard Rates: Purchases: 19.99%
Balance transfers and access cheques: 22.99%
Cash advances: 22.99%
If your Minimum Payment is late twice within any 12 consecutive Statement Periods (the ""change event""), the Standard Rate(s) that apply to your account at that time will increase 5% to a maximum of 29.99%. The new Standard Rate(s) will apply on the first day of the second Statement Period following the change event.
If you then pay each Minimum Payment on time for 12 consecutive Statement Periods (""cure period""), the Standard Rate(s) that apply to your account at that time will decrease back to the previous Standard Rate(s) prior to the rate increase on the first day of the first Statement Period that occurs after the cure period.
✪ Balance transfers will be fulfilled in the order listed and are treated as balance transfers in accordance with your Account Agreement. The total value of balance transfers cannot exceed your authorized credit limit. If the value is greater, MBNA may send a partial payment to the named creditor/designated account. THERE WILL BE A TRANSACTION FEE EQUAL TO 1.00% OF THE DOLLAR AMOUNT OF EACH BALANCE TRANSFER INITIATED WITH THIS APPLICATION. A MINIMUM FEE OF $7.50 WILL APPLY TO EACH BALANCE TRANSFER TRANSACTION. A balance transfer may not be used to pay off or down your account balance or any other balances with us (including our affiliates, which would include any member of the TD Bank Group).
˄No purchase necessary. Contest closes at 11:59 PM ET on December 31, 2019. Automatically receive one (1) entry for each eligible Harley-Davidson® Mastercard® credit card purchase made during each of the Promotional Periods (Promotional Period 1 = Jan 1 to Mar 31, 2019, 11:59 PM ET, Promotional Period 2 = Apr 1 to Jun 30, 2019, 11:59 PM ET, Promotional Period 3 = Jul 1 to Sep 30, 2019, 11:59 PM ET, Promotional Period 4 = Oct 1 to Dec 31, 2019, 11:59 PM ET). Four (4) prizes available to be won (ARV ranges between $11,499 and $15,333). Odds of winning depend on the number of eligible entries received/stamped (as outlined in the Official Rules) during each Promotional Period. Open to Canadian residents who are Harley-Davidson® Mastercard® credit card holders and have reached the age of majority at the time of entry. Skill-testing question required. For full rules, including no purchase entry details, visit https://www.mbna.ca/document/PDF/MBNA-Harley-Davidson-2019ContestRulesAndRegulations.pdf. Opt-out: If you do not wish to be entered into the Contest, you must indicate your preference to opt-out by contacting Sponsor (and/or its applicable division(s)) by (I) telephone at 1-888-876-6262 (toll-free – 24-hour service) or (II) mail at MBNA Harley-Davidson Mastercard 2019 Contest Opt-out, 23 Prince Andrew Place, Toronto, Ontario, M3C 2H2
‡These are highlights of the credit card rewards program (the “Program”) associated with this credit card account. Points will be awarded on eligible transactions charged to your account as set out in the Program terms and conditions. Complete terms and conditions describing Program eligibility, periodic draws for new Harley-Davidson® Motorcycles, accrual and redemption of points, and other important conditions, limitations and restrictions will be sent after your account is opened. Please read the terms and conditions upon receipt. Accumulated points can only be redeemed in accordance with the Harley-DavidsonTM Rewards Program (the “H-D Program”). The Toronto-Dominion Bank has no liability or responsibility for any aspect of the H-D Program. Please visit www.harley-davidson.com for complete Harley-DavidsonTM Rewards Program terms and conditions.
The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank.
©2019 H-D or its affiliates. HARLEY-DAVIDSON, HARLEY, H-D, and the Bar and Shield Logo are among the trademarks of H-D U.S.A., LLC. Third-party trademarks are the property of their respective owners.
Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the "Apply Now" button.
|Annual Fee||Purchase APR||Balance Transfer APR||Cash Advance APR||$0||19.99%||1.99% for your first 10 months. Ongoing: 22.99%||22.99%|
As the name suggests, a "balance transfer" allows you to transfer your outstanding balance owed to your current credit card issuer to another credit card at a lower interest rate. Balance transfers effectively reduce the amount of interest you pay while carrying a monthly balance on your credit card.
So in a nutshell, balance transfers save money. By reducing your interest payments, more of your monthly payments can go towards paying down the balance. This also means you’ll be debt-free sooner.
When evaluating balance transfer offers, there’s a few key points to pay attention to:
Getting the most out of a balance transfer requires a plan. The goal is to pay down your debt as quickly as possible during the introductory period. As you work to reduce your debt don’t take on new expenses. Be prepared for what happens when the into rate expires so there’s no surprises.