Scotiabank Value Visa Card Review: Is It Worth It?
The Scotiabank Value® Visa* Card is a low-interest credit card with a low annual fee. But it doesn’t earn rewards and doesn’t come with insurance coverage like some other cards.
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The card’s low 13.99% interest rate on purchases, cash advances and balance transfers can help you pay down debt quicker compared to a card with higher interest rates. But that’s all you're getting from this card. Besides discounts at participating car rental companies, there are no perks, no rewards and no complimentary insurances. Best for: Cardholders who typically carry a balance and want a simple, no-frills credit card.
Pros
- Low 13.99% APR.
- Low $29 annual fee.
Cons
- No rewards.
- No insurance coverage.
- 0.99% introductory interest rate on balance transfers for the first 9 months (2% fee per cash advance, 13.99% after that annual fee $29).¹ Plus no annual fee in the first year.¹
- Plus no annual fee for the first year.¹
- Save hundreds of dollars in interest a year.
- Pay down balances faster.
- Simplify your monthly payments.
- Rates, fees and other information are effective as of October 31, 2025. Subject to change.
- *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Scotiabank Value Visa Card full review
If you typically carry a balance on your credit card or have existing credit card debt, the Scotiabank Value Visa Card might be a practical choice.
Benefits of the Scotiabank Value Visa Card
0.99% introductory interest rate on balance transfers for the first 9 months (2% balance transfer fee).
Low ongoing interest rate (13.99% on purchases, balance transfers and cash advances).
Rental car discounts when you book with Avis and Budget
Annual fee waived for the first year.
Drawbacks of the Scotiabank Value Visa Card
Doesn’t earn rewards like cash back or miles.
No built-in insurance coverage. You do have the option to add certain types of insurance coverage to your card for a fee.
Who should get the Scotiabank Value Visa Card?
Anyone trying to pay down existing credit card debt may want to consider the Scotiabank Value Visa Card. The card’s 0.99% introductory interest rate on balance transfers lasts nine months, which could help you pay down credit card debt faster. Offer effective as of January 3, 2025.
Even once the nine-month introductory period is over, the 13.99% interest rate is significantly lower than that of many other Canadian credit cards.
Is Scotiabank Value Visa Card worth it?
It depends on your financial situation. Ideally, you want more value from your credit card than you pay to carry it. Since the Scotiabank Value Visa Card costs $29 annually, you need to squeeze at least that much value from the card for it to be worthwhile.
You won’t earn cash back or travel points, but the card’s low interest rate may offset the difference, especially if you’re working to pay down credit card debt or typically carry a balance on your card.
Scotiabank customer ratings
Below average in customer satisfaction: Scotiabank ranks 8th out of 14 issuers in J.D. Power’s 2025 Canada Credit Card Satisfaction Study.
Low Trustpilot rating: Scotiabank scored 1.2 out of 5 possible stars based on over 1,300 customer reviews, as of this writing.
Low Better Business Bureau rating: 1.2 out of 5 possible stars based on just over 45 customer reviews, as of this writing.
Scotiabank Value Visa Card eligibility
Who qualifies for the Scotiabank Value Visa Card?
To be eligible for the Scotiabank Value Visa Card, you must:
Be a Canadian resident and at least the age of majority in your province or territory.
Have no history of bankruptcy in the past seven years.
Earn a minimum annual personal income of $12,000.
Approximate credit score needed for approval
Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. However, higher scores generally mean better chances of approval, and that’s true regardless of the type of credit you’re applying for.
Want to learn more? Visit our “What Credit Score is Needed for a Credit Card?” page.
Scotiabank Value Visa Card rewards
Get a 0.99% introductory interest rate on cash advances and balance transfers for the first nine months of card ownership. Plus, no annual fee for the first year.
The Scotiabank Value Visa Card does not earn rewards.
The Scotiabank Value Visa Card’s 0.99% introductory interest rate on balance transfers could save you money. Paying very little interest on your credit card balance (even temporarily) means the payments you make go predominantly toward what you owe.
Scotiabank Value Visa Card vs Scotiabank Momentum Visa Card
They carry similar fees and income requirements, but one card offers a low interest rate while the other earns rewards.
NerdWallet's take
NerdWallet's takeThe card’s low 13.99% interest rate on purchases, cash advances and balance transfers can help you pay down debt quicker compared to a card with higher interest rates. But that’s all you're getting from this card. Besides discounts at participating car rental companies, there are no perks, no rewards and no complimentary insurances. Best for: Cardholders who typically carry a balance and want a simple, no-frills credit card.
Pros
- Low 13.99% APR.
- Low $29 annual fee.
Cons
- No rewards.
- No insurance coverage.
Card details
Card details- 0.99% introductory interest rate on balance transfers for the first 9 months (2% fee per cash advance, 13.99% after that annual fee $29).¹ Plus no annual fee in the first year.¹
- Plus no annual fee for the first year.¹
- Save hundreds of dollars in interest a year.
- Pay down balances faster.
- Simplify your monthly payments.
- Rates, fees and other information are effective as of October 31, 2025. Subject to change.
- *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Rewards breakdown
Rewards breakdownCash back on every $1 you spend at eligible gas stations, grocery store, drug store purchases and recurring bill payments.
Cash Back on Transit, Rideshare and Food Delivery.
Cash back on all other eligible purchases.
NerdWallet's take
NerdWallet's takeThe Scotia Momentum Visa Card offers up to 2% cash back on groceries, gas, and bills — with a low annual fee that makes it a practical everyday rewards card.
Pros
- Earn 2% cash back on common spending categories like gas, groceries, and recurring bills.
- Get 2.99% introductory interest rate on balance transfers for the first six months.
Cons
- The 2% rate applies only to the first $25,000 spent annually in eligible categories. Afterwards, it drops to 1%.
- Cash back is awarded once a year in November, limiting redemption flexibility.
Card details
Card details- Get a 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39).¹
- Earn 2% cashback for every $1 you spend at eligible gas stations, grocery store, drug store purchases and recurring bill payments.¹
- Earn 1% cashback on all other eligible cashback purchases.¹
- New! 2% Cash Back on Transit, Rideshare and Food Delivery
- New! Cash Back Anytime feature. Redeem your Cash Back anytime ($25.00 minimum required) instead of having to wait for an annual payout in November.
- Rates, fees, offers and other information are effective as of October 31, 2025. Subject to change.
- *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Reasons you might want a different card
This card may not be suitable if:
You want to earn rewards.
You want a card with built-in insurance coverage.
Scotiabank Value Visa Card facts
Scotiabank Value Visa Card | |
|---|---|
Card type | |
Fees and interest rates | |
Annual fee | $29.00 ($0 if account is part of a Scotia Total Equity Plan). |
Regular/purchase APR | 13.99%. |
Penalty APR | 24.99% on purchases and 27.99% on balance transfer, cash advances and cheques if you miss two payments within 12 months. This penalty APR will stay in place until you’ve made 12 consecutive payments on time. |
Cash advance APR | 13.99%. |
Cash advance fee | $5 to $7.50 per transaction, depending on where the transaction takes place. |
Balance transfer fee | $5 per transaction (up to 3% or $5 for promotions). |
Foreign transaction fee | 2.5% of the transaction amount. |
Rewards and benefits | |
Intro offer | Get a 0.99% introductory interest rate on cash advances and balance transfers for the first nine months of card ownership (2% fee per cash advance and balance transfer). Plus, pay no annual fee for the first year. Offer effective as of October 31, 2025. |
Reward earn rates | The Scotiabank Value Visa Card doesn’t earn rewards. |
Other perks | Save up to 25% off base rates at participating Avis and Budget locations in Canada and the US when you book a rental with your Scotiabank card. |
Methodology
BACK TO TOPNerdWallet Canada rates credit cards according to overall consumer value and their suitability for specific kinds of consumers. Factors in our evaluation methodology include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as airline or hotel perks or the ability to transfer points.
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Shannon Terrell
