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Scotiabank Value Visa Credit Card Review

Scotiabank Value Visa Credit Card Review
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Scotiabank Value Visa Credit Card

If you are hoping to get rid of your high-interest credit card debt fast, look no further than the Scotiabank Value Visa Credit Card. This low rate credit card goes a long way when it comes to repaying your credit card debt faster. Perhaps the greatest advantage of using this card is that it has a low introductory balance transfer. This low balance transfer rate along with low regular APR makes Scotiabank Value Visa Credit Card one of the best credit cards available.

3 Results Updated: July 8, 2019

16.99%

Interest Rate

 

Free

Annual Fee

 

16.99%

Balance Transfer

Promotional Balance Transfer: 3.99% for 6 Months

No Minimum

Minimum Income

Min Credit Score: 300

More Details

Great reasons to get this card

  • Save up to hundreds of dollars a year
  • Pay down higher interest rates balances faster
  • Transfer higher rate balances and save even more

Scotiabank No Annual Fee Credit Card with Low-Interest Rate

GET AN INTRODUCTORY 3.99% INTEREST RATE ON BALANCE TRANSFERS FOR THE FIRST SIX MONTHS

Save up to hundreds of dollars a year on interest

Save with the combination of a low-interest rate and no annual fee – it could add up to hundreds a year!

Pay down higher interest rate balances faster

Stay one step ahead of your balance – a lower interest rate makes this card an affordable way to finance those medium to large purchases you are making.

Transfer higher rate balances and save more

Switch balances over from higher-interest-rate credit cards to the No-Fee Scotiabank Value Visa Card. By consolidating your higher rate balances, you’ll save on interest and make paying bills easier.

Save up to hundreds of dollars a year

  • Introductory 3.99% interest rate on Balance Transfers for the first six months†.
  • 16.99% after the introductory rate
  • Pay down balances faster
  • Simplify your monthly payments

 

Card details

Network: Visa
Provider: Scotiabank Credit Cards
Card type: Bad Credit / Establish New Credit, Balance Transfer, No Annual Fee

Special Offers

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

12.99%

Interest Rate

 

$29.00

Annual Fee

 

12.99%

Balance Transfer

 

$12K / Year

Minimum Income

Min Credit Score: 640

More Details

 

  • Save hundreds of dollars in interest a year
  • Low 12.99% interest rate
  • Pay down balances faster
  • Simplify your monthly payments
  • Up to 25% AVIS rental car discount
  • See Issuer’s site for full details.

Card details

Network: Visa
Provider: Scotiabank Credit Cards
Card type: Balance Transfer, Low Interest

19.99%

Interest Rate

 

$39.00

Annual Fee

 

21.99%

Balance Transfer

 

$12K / Year

Minimum Income

Min Credit Score: 640

More Details

  • Get an introductory 2.99% on Balance transfers for the first six months.
  • Cash back with low annual fee
  • 2% on eligible fas station, grocery store and drug store purchases, and reoccurring bill payments
  • 20% AVIS rental car discount

Limited Time Offer – $0s for the first year

Yes, you read it right. For all new accounts opened by July 31, 2017 

Presently Scotia Momentum® VISA Infinite Card offers one of the best cash back rates on gas and groceries. The good thing is that the 4% cash back is here to stay. Yes, you can earn rewards at the rate of 4% for every dollar spent on gas and grocery bulls until you reach the $25,000 annual limit.

Another important thing is that Scotia Momentum® VISA Infinite Card has a separate cap of $25,000 for recurring bills and drugstore purchases. This can translate into really huge savings if you consider that you can move your phone bills, your gym membership, your TV subscription as well as every other monthly payment that gets billed to your Scotia Momentum® VISA Infinite Card.

Recurring payments as defined by Scotiabank include monthly payments billed to your Scotia Momentum® VISA Infinite Card. These payments include insurance, memberships, subscriptions and telecommunication purchases. 

All other eligible purchases give you 1% cash back which is quite good as well. 

 

Earn cash back on everyday spending

  • 4% on eligible gas station and  grocery store purchases
  • 2% on drug store purchases and recurring bills
  • 1% cash back on all other eligible purchases
  • VISA Infinite Complimentary Concierge Service – available 24/7
  • Access to VISA Infinite Luxury Hotel Collection
  • VISA Infinite Dining Series – Unique dining experiences in some of Canada’s top restaurants
  • Special access to unique offers and experiences
  • Rental car collision insurance
  • Purchase security and extended warranty protection

Scotia Momentum VISA Infinite Review - CompareMyRates

Cash-back credit cards repay a small proportion of purchases you make on your card. However, it’s high time cash-back rewards to get our proper attention. Depending on which card you’ll choose and how much you spend, cash-back rewards may be a perfect way to help you save for your dream vacation or pay for groceries.

Scotia Momentum VISA Infinite is a high-earning cash-back credit card that maximizes the cash return from a credit card. It’s a solid cash back card from Scotiabank, one of Canada's biggest banks. This is one of the best cash-back cards in Canada. The ideal annual fee is $99. However, for the accounts opened by 30th of June 2018, there’s no annual fee for the first year.

This credit card offers great returns on household spending. If you spent $25,000 on grocery and gas, with Scotia Momentum VISA Infinite you’ll get 4% cash back. In addition, you’ll get 2% cash back on recurrent bill payments and for every dollar spent at pharmacies. And for the other purchases, you’ll get 1% cash back.

Scotia Momentum VISA Infinite comes with luxurious possibilities that can make better your travel experience. It includes purchase guarantee, extended warranty, and no liability. It also comes with insurance benefits as accidents, stolen or lost baggage, trip interruption, and loss insurance for a rented car.

To be qualified for this credit card, people must have a household income of $100,000 or an income of $60,000 annually. The interest rate is 22.99% on balance transfers and cash advances; and 19.99% for purchases.

Scotia Momentum VISA Infinite is the perfect credit card for families and couples who spend big on groceries, gas, recurring bills, and pharmacies. And if you want to find the best deals and sites, use our site comparemyrates.ca.

Card details

Network: Visa
Provider: Scotiabank Credit Cards
Card type: Balance Transfer, Travel Rewards

Scotiabank Value Visa Credit Card Features Customers Love

The Scotiabank Value Visa Credit Card is simple. There are no fancy rewards or benefits with this credit card. However, you do get some solid value if you want to use the credit card to boost your debt repayment plan. The reason most people cannot get out of credit card debt is that they are charged high-interest rates and a major chunk of their payment goes toward interest, instead of reducing the debt.

If you are having problems repaying high-interest rate credit card debt, you can transfer it to Scotiabank Value Visa Credit Card. This will get you out of debt pretty quickly. Remember, when you have a low-interest rate, the payment you make goes a long way in helping you reduce the principal amount you owe. There’s an introductory offer of 0.99% APR on all balance transfers for the first 6 months. What’s better is that is, even after the introductory period ends, this credit card has a low-interest rate at least by Canadian standards.

Most customers are impressed with the fact that they can get cash advances at 0.99% for the first six months. And when 6 months are up, you get the same 11.99% APR on all cash advances as you regular purchases. Another popular feature of this credit card is that you get a grace period of 21 days on your purchases. This means if you are able to pay off your balance within the first three weeks, you don’t have to worry about being charged any interest at all. The Scotiabank Value Visa Credit Card is also a great credit card for frequent travelers. If you love traveling, you can use this card to get 20% discount on AVIS car rentals.  

What Do you need to know about the card?

The following are the important Scotiabank Value Visa Credit Card specs that you need to know before you get hands on this incredible piece of plastic.

  • Annual fee $29
  • Introductory rate 0.99% on balance transfer and cash advances – this promotion rate is effective for six months
  • 20% discount on AVIS car rentals
  • 99% regular APR

 

Is this Credit Card Right for you?

What’s great about this Scotiabank Value Visa Credit Card is that not only it is a low-interest credit Card, but you can use it to repay your debt within quick time. When you get hands on this low-interest rate balance transfer credit card, you can consolidate your debt and make the most of the 0.99% introductory interest rate to reduce the balance you owe significantly. Furthermore, if you have an outstanding balance after the first six months (i.e. the end of the promotional period), there’s no need to panic. Even after the introductory period ends, you’re your interest rate would only climb up to 11.99% which is way lower than other Canadian balance transfer cards. An important thing to remember is that the Scotiabank Credit Card comes with an annual fee of $29.

However, you won’t mind paying the annual fee considering the amount of money you save in monthly interest. If you love to travel by car rentals, this card will also help you achieve a 20% discount off car rental which is a huge advantage. If you had problems paying down your high-interest credit card debt in the past, the Scotiabank Value Visa Credit Card might be the right choice for you. You can repay your debt with 0.99% interest rate during the promotional period. And if a portion of debt remains after the end of the promotional period, you can repay it at 11.99%.

Remember that the introductory 0.99% interest rate applies to both balance transfer and cash advances. Because the card is straightforward, it is the best choice for every person who wants to complete a balance transfer and pay off debt faster. The more you pay off within the six months or the introductory period, the better off you will be in the long run. The Scotiabank Value Visa Credit Card is also a good choice if you carry balance occasionally. After all, the 11.99% interest rate is way better than paying  the usual 19.99% or 22.99%. If you use your credit card for large purchases, choose Scotiabank Value Visa Credit Card to repay your balance. You will be paying a lot less than what you might have to do with other Canadian credit cards.

There is an annual fee, and it’s worth it! 

The only downside of the Scotiabank Value Visa Credit Card is the $29 annual fee. Overall, it still isn’t a bad deal. If you don’t want to spend $29, consider Scotiabank Value Visa Credit Card’s No-fee Scotiabank Value Visa Credit Card. This card has no annual fee and the general interest rates are low, which can help you save money.

The Final Verdict

The Scotiabank Value Visa Credit Card offers all the benefits you want in an ideal low-interest balance transfer credit card. It is a fantastic way to repay your debt quickly and potentially save hundreds of dollars. In addition to an excellent introductory offer, this Scotiabank Value Visa Credit Card offers other consumer benefits. You get up to 20% on AVIS car rentals. There’s also optional account protection which can help you manage credit card expenses.    

Compare All Scotiabank Credit Cards