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Scotiabank Value® Visa Card
Credit cards

Scotiabank Value® Visa Card

Updated 01.12.2022

About Scotiabank Value® Visa Card

A Scotiabank Value® Visa Card is a credit card for clients whose top priority is saving on interest. A low-interest rate of 12.99% on both purchases and cash advances, a minimum credit limit of $500, and a low annual fee of $29 make a Scotiabank Value® Visa Card an affordable credit solution. 

Sometimes, there are special offers for a Scotiabank Value® Visa Card at Scotiabank. With such offers in place, you can get the advantage of an introductory interest rate on cash advances for a limited period, or waive an annual fee for the first year.

Scotiabank Value® Visa Card features

A low-interest rate of 12.99% on both purchases and cash advances is the key feature of a Scotiabank Value® Visa Card, which means you can consolidate your higher-rate balances on this card. The annual fee for this card is just $29, and issuing supplementary cards is free of charge. The minimum credit limit with a Scotiabank Value® Visa Card is $500.

A Scotiabank Value® Visa Card doesn’t provide cash back or reward-earning opportunities. Still, it allows you to save up to 25% off the base rate when paying for car rentals at participating AVIS and Budget locations in Canada and the U.S.

There are no insurance coverages included in a Scotiabank Value® Visa Card. But, you can apply for optional Scotia Credit Card Protection to ensure insurance coverage for your account balance or monthly credit card payments in case of unexpected life events.

A Scotiabank Value® Visa Card is eligible for the Scotia SelectPay™ solution that offers flexibility in paying off your credit card purchases. With Scotia SelectPay™, you can convert eligible purchase amounts starting from $100 into a 3, 6, or 12-month SelectPay installment plan with a total fee of 2% and zero interest on your plan.

Pros and cons

The major benefits of a Scotiabank Value® Visa Card are:

  • A low-interest rate

  • A low annual fee

  • Free supplementary card issuance

  • Interest-free grace period

  • Saving on car rentals at AVIS and Budget locations 

  • Eligibility for Scotia SelectPay™

Here are the drawbacks of this credit card:

  • No cash back or reward-earning opportunities

  • No benefits from Visa included 

  • No insurance coverages included

  • Minimum annual income requirements to apply

How to apply for a Scotiabank Value® Visa Card

Scotiabank accepts applications for Scotiabank Value® Visa Cards online, in person at a branch, and by phone.

To apply online, hit the “Apply now” button next to the credit card description and proceed either as an existing client or as a new client. In the first case, you will need to sign in to your online banking account using your login credentials. In the second case, you will need to fill out an extended online application form and provide the following details:

  • Your title

  • Your first name

  • Your last name

  • Your date of birth

  • Your social insurance number (optional)

  • Your email

  • Your phone number

  • Your home address

  • Your employment status

  • Your field of work or industry

  • Your job title

  • Your employer

  • Your  employer’s phone number (optional)

  • Your annual employment income

  • Your other annual income

  • Your monthly housing expenses

Once you do, review the provided information and click the “Continue” button. Next, create a PIN and choose a secret word that you will use in further interactions with the bank. If you want to make your account paperless, add a supplementary cardholder, or apply for creditor insurance coverage, specify those details in your application. To finalize your application, agree with the terms and conditions and click the “Continue” button.

To apply for a Scotiabank Value® Visa Card, you must have a minimum annual personal income of $12,000.

How much can I save on interest with a Scotiabank Value® Visa Card?

With a credit card featuring a 29.99% interest rate, the interest for 12 months will constitute $1,499.50. With a Scotiabank Value® Visa Card featuring a 12.99% interest rate, the interest for 12 months will be $649.50. This way, your interest savings within 12 months will constitute $850.The actual savings may vary depending on a variety of factors — the outstanding balance, timing and application of the payments made, the nature of the transactions, and more.

Who is responsible for charges incurred on a Scotiabank Value® Visa Card account with a supplementary card?

As the primary cardholder, you are responsible for all charges incurred on your credit card account with both primary and supplementary cards issued in connection with the account.

How do I get a cash advance with my Scotiabank Value® Visa Card?To get a cash advance, you need to pick a PIN at your local Scotiabank branch. Once you do, you can withdraw funds at any of the ATMs displaying the Visa/PLUS symbols or ATMs displaying the Interac symbol.

Effective interest rate on the product


Other Credit cards of Scotiabank

Financial product
20.99% - 22.99%

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