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Scotiabank Value Visa Card Review 2024 (0% Balance Transfer)


Fact Checked

The Scotiabank Value Visa is a no-frills card that does a great job when you only need a low-interest credit card or a balance transfer credit card.

It offers a 0% promotional interest rate on cash advances and balance transfers for the first 10 months and a permanently lower interest rate of 12.99% APR on cash advances, purchases, and balance transfers after the promotional period ends.

Need to consolidate your debt fast? This review of the Scotiabank Value Visa card shows why you should consider it for your wallet.

Scotiabank Value Visa Card Overview

Scotiabank Value Visa Card

Best for low-interest rates

Annual fee: $29

Welcome offer: No annual fee for the first year and 0% interest rate for cash advances for the first 10 months.

Interest rates: 12.99% for purchases and cash advances.

Minimum income requirement: N/A

Recommended credit score:


Scotiabank Value Visa Card

On Scotiabank’s website

  • The annual fee is waived in the first year.
  • Low-interest rate of just 12.99%.
  • 0% promotional balance transfer rate for 6 months; 1% balance transfer fee.
  • Save up to 25% on car rentals at AVIS and Budget in Canada and the United States.
  • Minimum gross income requirement of $1,000 per month.

Low-interest rate on purchases

Low-interest rate on cash advances

Low minimum income requirement

No rewards

Few premium perks

The Scotiabank Value Visa Card is a no-frills credit card that offers a very low-interest rate on purchases and cash advances. While it does not offer many other perks, it is a good option for anyone who carries a balance.

Scotiabank Value Visa Card Benefits

Here are some of the benefits of the Scotiabank Value Visa Card:

1. Low-interest rate: You pay a 0% rate on cash advances and balance transfers in your first 10 months. This makes the card excellent for consolidating debt from higher-interest-rate credit cards.

If you can pay down or pay off your credit card debt during the 10-month period, you could save money on interest fees.

Even if you cannot pay off your entire balance, the 12.99% base rate is much lower than the usual 19.99% or higher interest rate available on regular credit cards.

A 1% balance transfer fee applies if you move over a balance to this card.

2. Free supplementary cards: You can get additional cards for free, e.g. for your spouse or other family members.

3. Save up to 25% on car rentals at participating AVIS and Budget locations in Canada.

4. Save time at the checkout using the Scotiabank mobile banking app. Simply tap your phone if the terminal supports Visa payWave, and you can also use Visa Checkout for online purchases.

As mentioned earlier, the Scotiabank Value Visa is a no-frills card and offers no cash back or rewards points. Its low-interest rate offer on cash advances and balance transfers makes it an excellent low-interest-rate credit card.

With an annual fee of $29, you can use the card to consolidate your debts at a lower rate, save money on fees and continue building your credit score while you pay off your balance.

Scotiabank Value Visa Card Review

How Does The Scotiabank Value Visa Compare?

Some credit cards that are comparable to the Scotiabank Value Visa are:

2. Tangerine Money-Back Card

  • $0 annual fee
  • Up to 2% cash back on purchases
  • $100 cash back bonus for a limited time
  • 1.95% promotional balance transfer for 6 months
  • 19.95% standard interest rate on purchases and balance transfers

This Tangerine credit card offers up to 2% unlimited cash back on 3 categories of spending and 0.50% cash back on everything else.

Tangerine Money-Back Credit Card

Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.

Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value); 1.95% balance transfer rate for 6 months.

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Annual fee: $0

2. BMO Preferred Rate Mastercard

  • Purchase APR: 12.99%
  • Balance transfer offer: 3.99% for 9 months
  • Annual fee: $20
  • Income requirement: $15,000

You enjoy a standard 12.99% APR on purchases, 15.99% on cash advances, and a 3.99% promotional balance transfer rate for 9 months. Note that a 1% transfer fee applies.

Learn more about the BMO Preferred Mastercard.

3. BMO CashBack Mastercard

  • Annual fee: $0
  • Balance transfer offer: 1.99% for 9 months
  • Standard interest rate: 19.99% purchases and 22.99% cash advances

The BMO Cash Back Mastercard is a top-rated card that combines cash back offers with a low balance transfer rate of 1.99% for 9 months. A 1% balance transfer fee applies.

Learn about the BMO CashBack Mastercard.

Final Thoughts

The Scotiabank Value Visa Card is worth looking at if you need a low-interest card option to consolidate your credit card balances and save money.

For a good mix of favourable short-term low balance transfer rates and continuing great cash back rewards, you can also check out the Tangerine Money-Back Credit Card.

Scotiabank Value Visa Card Review 2024
  • Annual fee
  • Rewards
  • Interest rate
  • Eligibility


The Scotiabank Value Visa works great as a low-interest credit card or balance transfer credit card. It offers a 0% promo rate on cash advances and balance transfers for the first 6 months and is excellent for debt consolidation.


  • Low-interest purchase rate
  • Low balance transfer rate for 6 months


  • Offer no insurance benefits
  • No cash back rewards

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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners. You can read his full author bio.

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