The No-Fee Scotiabank Value Visa credit card is one of a few low-rate balance transfer credit cards in Canada with no annual fees.
It offers a 3.99% interest rate on balance transfers for 6 months and 16.99% after which is still competitive compared to many alternatives.
This Scotiabank No-Fee Value Visa review covers what you need to know about the card if you are considering it for your wallet.
No-Fee Scotiabank Value Visa Card Benefits
Summary of Features
- 3.99% balance transfer rate (6 months)
- 16.99% purchase APR
- $0 annual fee
- $0 for additional cards
- $500 minimum credit limit
1. No Annual Fee: This card comes with an attractive $0 annual fee. Supplementary cards for friends and family are also free.
2. 3.99% Balance Transfer Rate: You can consolidate your credit card debt on this card for 6 months at a 3.99% promotional rate.
3. Car Rental Discounts: When you use the No-Fee Scotiabank Value Visa to pay for your car rental at participating AVIS and Budget locations, you can save up to 25%.
This card does not offer any other rewards or insurance. Its primary attraction is its low-rate balance transfer offer with no annual fees.
Scotiabank Value Visa vs. No-Fee Scotiabank Value Visa
These two Scotiabank cards offer low rates on balance transfers.
The Scotiabank Value Visa comes with a:
- $29 annual fee
- 0.99% balance transfer rate for 6 months and 12.99% after the promotional period ends
- 12.99% regular interest rate on purchases, balance transfers and cash advances
- Up to a 25% discount on car rentals at participating AVIS and Budget locations
Read my Scotiabank Value Visa review.
The main difference between the Scotiabank Value Visa and it’s no-fee counterpart is that you pay a $29 annual fee in exchange for a 0.99% balance transfer rate for 6 months (compared to 3.99%).
You also get a lower base rate of 12.99% for purchases and balance transfers when the promotional rate expires (compared to 16.99%).
The No-Fee Scotiabank Value Visa can help you save on interest fees when you transfer your outstanding credit card debt at the lower 3.99% rate and use the opportunity to pay down your debt.
It is also a no-annual-fee card, so you won’t have to shell out a fee every year for using the card.
No-Fee Scotiabank Value Visa Card Review
The No-Fee Scotiabank Value Visa is a no-fee low-interest-rate balance transfer card that can save you money when you take advantage of the 3.99% promo balance transfer rate for 6 months.