Scotiabank Value® Visa* Card offer: 0% balance transfer for 9 months
The Scotiabank Value® Visa* Card is launching a 0% balance transfer offer for 9 months, combined with a first-year annual fee waiver. Unlike most offers covered on Milesopedia, this isn’t a points or cash back bonus: this card targets people carrying a balance on a high-rate card who want to reduce interest costs while paying down their debt. Here’s exactly how it works, the fees to expect, and a calculation of the amount actually saved.
Scotiabank Value® Visa Card
The Scotiabank Value Visa Card is one of the best balance transfer credit cards in Canada.
You can get an introductory interest rate of 0% on balance transfers for the first nine months (with a 1% transfer fee). You pay no annual fee in the first year with this Visa credit card.
Plus, this Visa credit card offers a low interest rate: 13.99% on purchases, balance transfers and cash advances.
- Annual fee
- $0 $29No annual fee the first year
- No annual fee the first year
- Our valuation
- $29Milesopedia first-year estimate First-year valueAnnual fee rebated$29Total$29Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- Milesopedia first-year estimateFirst-year valueAnnual fee rebated$29Total$29Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- Welcome offer
- First Year Annual Fee Rebate
- $29 annual fee rebated
- Ends Jan 3, 2027
on Scotiabank's website
How the 0% balance transfer works
A balance transfer involves moving debt carried on one or more existing credit cards to the Scotiabank Value® Visa* Card, to take advantage of a promotional interest rate while the balance is repaid. Here are the exact terms of the current offer:
| Parameter | Details |
|---|---|
| Promotional balance transfer rate | 0% |
| Promotion length | 9 months |
| Transfer fee | 1% of the amount transferred (minimum $5) |
| Maximum transferable amount | $49,999.99 |
| Annual fee in year 1 (primary card) | $0 |
| Regular annual fee (starting year 2) | $29 |
| Regular rate after the promotion | 13.99% (purchases, balance transfers, cash advances) |
| Eligibility window | Accounts opened between July 2, 2026 and January 3, 2027 |
In practical terms, someone who transfers $5,000 pays a $50 transfer fee (1%), then pays no interest on that balance for 9 months. The 9-month clock starts as soon as the account is opened, not when the transfer is made: it’s therefore best to apply for the card and transfer the balance quickly to benefit from the full promotional period.
What happens after 9 months
The 0% promotion lasts only 9 months. After that, any remaining balance—whether from the initial transfer or new purchases—is charged at the regular rate of 13.99%. This rate applies uniformly to purchases, balance transfers, and cash advances once the promotional period ends.
The key point: the promotion is meant to reduce interest costs while the debt is actively being repaid, not to postpone it indefinitely. A balance transfer strategy only works if the card comes with a realistic repayment plan. Without that plan, the remaining balance simply switches to 13.99%—a lower-than-average market rate, but one that still generates interest.
To structure a 9-month repayment plan, simply divide the transferred balance by 9. A $5,000 debt therefore requires about $556 per month to be fully repaid before the promotion ends. Our balance transfer guide explains how to build this type of schedule.
No annual fee in the first year, then $29
The offer also includes a waiver of the annual fee on the primary card for the first year. Additional cards remain free at all times. Starting in the second year, the regular $29 annual fee applies—modest compared to rewards cards, which often charge between $99 and $150 per year for a comparable level of service.
A low-rate card, not a rewards card
Let’s be honest: the Scotiabank Value® Visa* Card offers no points, no cash back, and no loyalty program. Its value proposition is entirely based on the reduced interest rate—both during the promotion (0% on transfers for 9 months) and at the regular rate (13.99% versus 20% to 25% for most rewards cards). For someone who pays their balance in full every month, this card therefore offers no particular advantage: the interest rate never affects them.
Our full Review of the Scotiabank Value® Visa* Card takes a detailed look at its positioning, secondary benefits, and the profiles it’s worth it for.
- You carry a balance on one or more high-rate cards and want to reduce interest costs while repaying.
- You have a concrete plan to repay the transferred balance before the end of the 9 months, or you accept the regular 13.99% rate afterward.
- You want a simple card, with no program to manage, to consolidate debt.
- You pay your balance in full every month: the reduced rate does nothing for you, and a points or cash back card will be more advantageous.
- You already hold a Scotiabank personal credit card or have held one within the past two years: the current offer doesn’t apply.
- You’re looking to earn points or cash back: this card offers none, aside from a one-time discount on Shell gas.
How much can you save with this transfer?
To illustrate the impact of the 0% rate, here’s a comparison between keeping a balance on a card charged at around 20.99% (a common rate among rewards cards) and transferring it to the Scotiabank Value® Visa* Card for 9 months. This 20.99% rate is used as a market benchmark and isn’t tied to any specific card.
| Transferred balance | Interest over 9 months at ~20.99% (no transfer) | Transfer fee (1%) | Approximate net savings |
|---|---|---|---|
| $2,000 | ~$315 | $20 | ~$295 |
| $5,000 | ~$787 | $50 | ~$737 |
| $10,000 | ~$1,574 | $100 | ~$1,474 |
In all three cases, the savings far exceed the 1% transfer fee. The higher the balance transferred, the larger the dollar gap, which explains why this type of offer primarily targets people dealing with credit card debt rather than users who pay everything off each month. For a broader comparison of consolidation options, our page on the best balance transfer credit cards presents the alternatives currently on the Canadian market.
How to proceed
You apply online on Scotiabank’s website. Once the card is approved, the balance transfer can be requested by phone or via the Scotia mobile app, by providing the details of the high-rate card (issuer and amount to transfer). The transfer usually takes a few business days to complete, which means the high-rate card continues to accrue interest until the transfer is finalized. It’s therefore best to request the transfer as soon as the card is approved, rather than waiting.
Once the transfer is completed, it’s still essential to keep paying at least the minimum payment on the old card until you’ve confirmed the balance has been transferred, to avoid late fees. Our article on when to consider a balance transfer details the situations where this strategy really makes a difference.
Is this offer right for you?
This offer is aimed at a specific profile: someone currently carrying a balance on a higher-rate card, able to repay that balance (or a good portion of it) over 9 months, and who hasn’t held a Scotiabank personal credit card recently. For this profile, the interest savings far exceed the 1% fee charged on the transfer, and the lack of an annual fee in the first year further reduces the total cost of the operation.
Conversely, someone who already pays their balance in full every month won’t get any benefit from this card: in that case, a points or cash back card will remain more rewarding. To compare these options, see our page on the best low interest credit cards, or our guide to quickly eliminate credit card debt if consolidation is only a first step.
- Annual fee
- $0 $29No annual fee the first year
- No annual fee the first year
- Our valuation
- $29Milesopedia first-year estimate First-year valueAnnual fee rebated$29Total$29Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- Milesopedia first-year estimateFirst-year valueAnnual fee rebated$29Total$29Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- Welcome offer
- First Year Annual Fee Rebate
- $29 annual fee rebated
- Ends Jan 3, 2027
on Scotiabank's website
Scotiabank Value® Visa* Card offer: FAQs
What is the rate for the balance transfer offer?
0% for the first 9 months after account opening, with a transfer fee of 1% of the amount transferred (minimum $5).
Until when is the offer valid?
The offer applies to accounts opened between July 2, 2026 and January 3, 2027. Scotiabank offers are reviewed regularly: it’s best to confirm the exact date on the official page before applying.
What happens after 9 months?
The remaining balance, whether from the transfer or new purchases, is charged at the regular rate of 13.99%.
Is there an annual fee?
No annual fee in the first year on the primary card. After that, the regular fee is $29 per year. Additional cards remain free.
What is the maximum amount you can transfer?
$49,999.99, subject to the credit limit granted at the time of approval.
Does this card offer points or cash back?
No. The card has no traditional rewards program. It does, however, offer a discount on gas at Shell (up to 5¢ per litre via a linked Shell Go+ account) and a discount on Avis and Budget rentals.
Who is not eligible for this offer?
Someone who already holds, or has held within the past two years, a Scotiabank personal credit card as a primary or secondary cardholder is not eligible, even if the transfer comes from an existing Scotiabank account.
Our featured card
- Annual fee
- $0 $29No annual fee the first year
- No annual fee the first year
- Our valuation
- $29Milesopedia first-year estimate First-year valueAnnual fee rebated$29Total$29Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- Milesopedia first-year estimateFirst-year valueAnnual fee rebated$29Total$29Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- Welcome offer
- First Year Annual Fee Rebate
- $29 annual fee rebated
- Ends Jan 3, 2027
on Scotiabank's website
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