The Scotiabank Value® Visa* Card is a low-interest card (13.99%), designed to reduce the cost of a carried balance or consolidate debt, not to accumulate points. At Milesopedia, I have been analyzing Canadian credit cards for over ten years, with a particular focus on what each card actually promises, beyond the marketing text. This one does not fit into the usual categories of this site: it earns no points, miles, or cash back. This review evaluates it for what it truly is: an interest rate management tool, compared to other low-rate options available in Canada.
Most cards covered on this site compete for points, cash back, and welcome bonuses. The Scotiabank Value® Visa* Card focuses on a different goal: a reduced interest rate, both in promotional and regular terms. Here is who this positioning makes sense for, who it doesn’t, and how much a lower rate can actually save you.
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.
This Visa credit card also offers a low interest rate: 13.99% on purchases, balance transfers and cash advances.
Our valuationMilesopedia 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.
The Scotia minimum Visa Card is one of the best credit cards for balance transfers 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 for the first year with this Visa credit card.
What’s more, this Visa credit card offers a low interest rate: 13.99% on purchases, balance transfers and cash advances.
Legal
1 Offer description and terms and conditions: The 0% introductory rate offer on cash advances and the first-year annual fee waiver (the “Offer”) applies only to new Scotia minimum Visa credit card accounts (the “Accounts”) opened between July 2, 2026 and January 3, 2027 (regardless of when you apply for the Account), subject to the terms and conditions below. We will waive the annual fee for the primary card for the first year only. The Offer may be changed, cancelled or extended at any time without notice, and cannot be combined with any other offer.
Description and terms and conditions of the 0% introductory rate offer: The 0% introductory rate offer (the “Rate Offer”) applies to eligible cash advances (including balance transfers and quasi-cash transactions, collectively referred to as “cash advances”), subject to the terms and conditions below. This introductory rate applies for 9 months from that date (the “Promotional Period”). A fee equal to 1% of the amount of any balance transfer made during the Promotional Period applies (minimum fee of $5.00). After the Promotional Period, the interest rate on balance transfers subject to the 0% promotional rate (including any unpaid balance of those cash advances at the end of the Promotional Period) will revert to the applicable preferred interest rate for cash advances (currently 13.99%).
The introductory rate offer is subject to your Account’s cash advance limit. This offer is also based on your approved credit limit as of the date of this offer. This means that if the total of the balances transferred exceeds the approved credit limit, balance transfers may not be processed. This introductory rate offer cannot be used to transfer the balance of another Scotiabank account, or to make a payment or deposit to another Scotiabank account.
Cancellation of the promotional rate: If we do not receive your minimum payment by the due date shown on your statement two times in a row, you will lose the benefits of this special rate offer and your interest rates will revert to the annual rates normally applicable to your Account (24.99% for purchases and 27.99% for cash advances).
Application of payments: Your payment cannot be applied to the balance of your choice. For persons residing in Quebec: Generally, if one or more interest rates apply to your account, we apply payments according to the interest rate(s) that apply to the transactions posted to your account (from the highest rate to the lowest). For persons not residing in Quebec: Generally, if you make a payment greater than the minimum amount shown on your statement, the difference is applied proportionally to the different groups of charges billed to your account. Charges are grouped according to the interest rate applicable to them. Consult your credit card agreement to learn more about how payments are applied to your account.
Description and terms and conditions of the first-year annual fee waiver offer: We will waive the annual fee for the first year only for the primary card, which must occur between July 2, 2026 and January 3, 2027.
Eligibility and exclusions: You cannot take advantage of the Offer if you are currently a primary or secondary cardholder of a Scotiabank personal credit card or if you have been one in the past two years, including if you transfer your balance from an existing Scotiabank personal credit card account (and subject to the exclusions mentioned, persons holding a Scotiabank business credit card are eligible for this offer). By accepting this Offer, you confirm that you meet all eligibility conditions. We reserve the right to revoke this Offer at any time if we believe you do not meet the eligibility conditions, including after its acceptance or obtaining the Account.
Rates and fees: Current annual fees are $29 for the primary card, and additional cards are free (including those issued to co-account holders and additional cardholders). The preferred annual interest rates currently applicable to the Account are as follows: 13.99% on purchases 13.99% on cash advances. All rates, fees, features and benefits described in the application disclosure statement are subject to change.
Savings at Shell
Get up to 3 cents per litre in instant fuel discounts and earn up to 2 cents per litre in Scene+ points value with a Scotiabank Value® Visa* Card linked to a Shell Go+ Account:
Instant 3 cents per Litre Discount on Fuel Purchases (All Grades): Receive an instant 3 cents per litre discount on purchases of fuel (all grades) (“Fuel Purchases (All Grades)”) at participating Shell locations in Canada when you use any eligible Scotiabank debit card or credit card linked to a Shell Go+ Account, up to a maximum of 1,000 litres per month per Scotiabank debit card and per Scotiabank credit card account. This total limit resets at the start of each new month per payment card account. This discount is subject to the Scotiabank Fuel Benefit Terms and Conditions or Tangerine Fuel Benefit Terms and Conditions (as applicable).
Earn up to 2 cents per Litre in Scene+ points Value (Equivalent) on Fuel Purchases: As a Scene+ Member you will automatically earn 1 Scene+ point for each litre in Fuel Purchases (All Grades), and as a Shell Go+ member, automatically earn 1 additional Scene+ point for each litre in Premium Fuel Purchases, made with your linked Scotiabank Value® Visa* Card. This means that for every litre in fuel purchased with your eligible linked card, you can earn the equivalent of up to 2 cents of redeemable Scene+ points value based on a redemption value of $10 for every 1,000 Scene+ points redeemed for fuel purchases at participating Shell Locations. Actual value may be lower depending on how you choose to redeem your Scene+ points. Earn and redemption limits may apply. See the Scene+ Program Terms and Conditions available at sceneplus.ca/terms-and-conditions for full details including redemption options and additional terms.
Note: Highest value of 5 cents per litre assumes a Premium Fuel Purchase made with a Scotiabank Value® Visa* Card linked to a Shell Go+ Account. Actual value will vary depending on whether or not the credit card is linked, fuel grade purchased, cost of fuel at time of purchase, whether or not you are a Scene+ member, and how you choose to redeem your Scene+ points.
Annual fee
Primary card$29
Additional card$0
Annual income required
Individual$12,000
Household$12,000
Conversion fees
2.5%
Earning rate
0xAll spending
Value
2nd Year Value$-29
A card designed for the rate, not for rewards
It must be stated clearly from the start: the Scotiabank Value® Visa* Card has no classic rewards program. No points, no cash back, no miles. Its value proposition rests entirely on its interest rate, set at 13.99% regularly on purchases, balance transfers, and cash advances, which is about half the average rate of rewards cards (generally between 20% and 25%).
This card therefore falls into the low-rate card category. It should never be directly compared to a card like the Scotiabank Momentum® Visa* Card, which focuses on cash back with an annual fee or a higher regular interest rate. The two meet different needs.
Who it is for, and who it is not suitable for
The principle is simple: the more a person carries a balance from one month to the next, the more the interest rate weighs on their wallet, more so than the points accumulation rate of a rewards card. For this profile, every dollar of interest avoided is worth more than a point earned.
You sometimes carry a balance from one month to the next and want to limit interest paid.
You want to consolidate existing debt thanks to the current 0% balance transfer offer for 9 months.
You prefer the simplicity of a card with a modest annual fee ($29), without a program to manage.
You make purchases at merchants that accept Visa across Canada.
Conversely, if the card balance is paid in full every month, the interest rate never applies, whether it is 13.99% or 25%. In this case, a rewards card will provide higher net value.
You always pay your balance in full: the reduced rate changes nothing on your bill.
You are looking to accumulate points or cash back: this card offers none.
You already hold a Scotiabank personal credit card or have held one in the last two years: the current balance transfer offer does not apply to your situation.
You travel frequently and want travel insurance: this card’s coverage is limited to basic purchase protections.
Fees and features
Feature
Detail
Annual fee (primary card)
$29 ($0 for the first year, current offer)
Annual fee (additional card)
$0
Interest rate on purchases
13,99 %
Rate on cash advances
13,99 %
Rate on balance transfers (regular)
13,99 %
Promotional rate on balance transfer
0% for 9 months (1% fee, min. $5)
Network
Visa
Rewards
None (neither points nor cash back)
Minimum annual income required
Not publicly specified by Scotiabank
The current balance transfer offer
Scotiabank is currently offering a 0% balance transfer for 9 months for new accounts opened between July 2, 2026, and January 3, 2027, with a 1% transfer fee (minimum $5) and the annual fee waived for the first year. Our dedicated article on the Scotiabank Value® Visa* Card balance transfer offer presents the full mechanics, exclusions, and a calculation of potential savings based on the amount transferred.
How much does a reduced rate save?
Even outside of any promotion, the regular rate of 13.99% is the main argument for this card. To illustrate, let’s compare the annual interest cost between this card and a typical rewards card, whose rate is around 20.99%, assuming an average balance carried over the year. This 20.99% rate serves as a market benchmark; it is not linked to any specific card.
Average balance carried over the year
Interest at 13.99%
Interest at ~20.99%
Annual difference
$1,000
~$140
~$210
~$70
$3,000
~$420
~$630
~$210
$5,000
~$700
~$1,050
~$350
On an average balance of $3,000 carried all year, the difference approaches $210, even after the promotional period. A cash back of 1% to 2% on the year’s spending would not compensate for this difference for a person who carries a balance recurringly: in this scenario, the rate always wins the race against points.
For someone who carries a balance, the interest rate weighs more than points. Photo: Milesopedia.
Additional benefits
Beyond the rate, the card includes a few secondary benefits, not comparable to a high-end travel card, but useful for everyday life:
Shell Discount: up to 5¢ per litre in value on gas when the card is linked to a Shell Go+ account.
Scotia SelectPay: allows you to spread an eligible purchase of $100 or more into installments, at a reduced rate and without plan fees.
Car Rental Discounts: up to 25% at Avis and Budget in Canada and the U.S.
GigSky Discount: 10% on international mobile data plans.
Scotia Credit Protection: optional insurance (separate fees) covering death, critical illness, hospitalization, disability, job loss, and strike or lockout.
No travel insurance (medical, cancellation, included car rental, flight delay) comes with this card. For this type of coverage, you must look to a travel card or take out separate insurance.
Pros and Cons
Regular rate of 13.99%, well below the market average.
Current 0% balance transfer offer for 9 months.
Modest annual fee of $29, waived for the first year depending on the current offer.
Shell, Avis/Budget, and GigSky discounts included at no additional cost.
No points or cash back program.
No travel insurance included.
Not eligible for the transfer offer for people who have recently held a Scotiabank personal card.
Minimum required income not publicly specified, making eligibility difficult to assess in advance.
Our Verdict
The Scotiabank Value® Visa* Card does not seek to seduce the points optimizer, and that is not its role. For a person who carries a balance recurringly or who needs to consolidate existing debt, a 13.99% regular rate, combined with a 0% balance transfer promotion for 9 months, translates into hundreds of dollars in avoided interest each year. The $29 annual fee (waived for the first year depending on the current offer) is quickly absorbed as soon as a balance of a few thousand dollars is carried over.
The reverse reasoning holds just as true: if the balance is paid off each month, the rate never applies, and a rewards card will earn more. The Scotiabank Value® Visa* Card is a targeted tool, to be chosen based on repayment habits, not the desire for points.
Our valuationMilesopedia 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.
The Scotia minimum Visa Card is one of the best credit cards for balance transfers 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 for the first year with this Visa credit card.
What’s more, this Visa credit card offers a low interest rate: 13.99% on purchases, balance transfers and cash advances.
Legal
1 Offer description and terms and conditions: The 0% introductory rate offer on cash advances and the first-year annual fee waiver (the “Offer”) applies only to new Scotia minimum Visa credit card accounts (the “Accounts”) opened between July 2, 2026 and January 3, 2027 (regardless of when you apply for the Account), subject to the terms and conditions below. We will waive the annual fee for the primary card for the first year only. The Offer may be changed, cancelled or extended at any time without notice, and cannot be combined with any other offer.
Description and terms and conditions of the 0% introductory rate offer: The 0% introductory rate offer (the “Rate Offer”) applies to eligible cash advances (including balance transfers and quasi-cash transactions, collectively referred to as “cash advances”), subject to the terms and conditions below. This introductory rate applies for 9 months from that date (the “Promotional Period”). A fee equal to 1% of the amount of any balance transfer made during the Promotional Period applies (minimum fee of $5.00). After the Promotional Period, the interest rate on balance transfers subject to the 0% promotional rate (including any unpaid balance of those cash advances at the end of the Promotional Period) will revert to the applicable preferred interest rate for cash advances (currently 13.99%).
The introductory rate offer is subject to your Account’s cash advance limit. This offer is also based on your approved credit limit as of the date of this offer. This means that if the total of the balances transferred exceeds the approved credit limit, balance transfers may not be processed. This introductory rate offer cannot be used to transfer the balance of another Scotiabank account, or to make a payment or deposit to another Scotiabank account.
Cancellation of the promotional rate: If we do not receive your minimum payment by the due date shown on your statement two times in a row, you will lose the benefits of this special rate offer and your interest rates will revert to the annual rates normally applicable to your Account (24.99% for purchases and 27.99% for cash advances).
Application of payments: Your payment cannot be applied to the balance of your choice. For persons residing in Quebec: Generally, if one or more interest rates apply to your account, we apply payments according to the interest rate(s) that apply to the transactions posted to your account (from the highest rate to the lowest). For persons not residing in Quebec: Generally, if you make a payment greater than the minimum amount shown on your statement, the difference is applied proportionally to the different groups of charges billed to your account. Charges are grouped according to the interest rate applicable to them. Consult your credit card agreement to learn more about how payments are applied to your account.
Description and terms and conditions of the first-year annual fee waiver offer: We will waive the annual fee for the first year only for the primary card, which must occur between July 2, 2026 and January 3, 2027.
Eligibility and exclusions: You cannot take advantage of the Offer if you are currently a primary or secondary cardholder of a Scotiabank personal credit card or if you have been one in the past two years, including if you transfer your balance from an existing Scotiabank personal credit card account (and subject to the exclusions mentioned, persons holding a Scotiabank business credit card are eligible for this offer). By accepting this Offer, you confirm that you meet all eligibility conditions. We reserve the right to revoke this Offer at any time if we believe you do not meet the eligibility conditions, including after its acceptance or obtaining the Account.
Rates and fees: Current annual fees are $29 for the primary card, and additional cards are free (including those issued to co-account holders and additional cardholders). The preferred annual interest rates currently applicable to the Account are as follows: 13.99% on purchases 13.99% on cash advances. All rates, fees, features and benefits described in the application disclosure statement are subject to change.
Savings at Shell
Get up to 3 cents per litre in instant fuel discounts and earn up to 2 cents per litre in Scene+ points value with a Scotiabank Value® Visa* Card linked to a Shell Go+ Account:
Instant 3 cents per Litre Discount on Fuel Purchases (All Grades): Receive an instant 3 cents per litre discount on purchases of fuel (all grades) (“Fuel Purchases (All Grades)”) at participating Shell locations in Canada when you use any eligible Scotiabank debit card or credit card linked to a Shell Go+ Account, up to a maximum of 1,000 litres per month per Scotiabank debit card and per Scotiabank credit card account. This total limit resets at the start of each new month per payment card account. This discount is subject to the Scotiabank Fuel Benefit Terms and Conditions or Tangerine Fuel Benefit Terms and Conditions (as applicable).
Earn up to 2 cents per Litre in Scene+ points Value (Equivalent) on Fuel Purchases: As a Scene+ Member you will automatically earn 1 Scene+ point for each litre in Fuel Purchases (All Grades), and as a Shell Go+ member, automatically earn 1 additional Scene+ point for each litre in Premium Fuel Purchases, made with your linked Scotiabank Value® Visa* Card. This means that for every litre in fuel purchased with your eligible linked card, you can earn the equivalent of up to 2 cents of redeemable Scene+ points value based on a redemption value of $10 for every 1,000 Scene+ points redeemed for fuel purchases at participating Shell Locations. Actual value may be lower depending on how you choose to redeem your Scene+ points. Earn and redemption limits may apply. See the Scene+ Program Terms and Conditions available at sceneplus.ca/terms-and-conditions for full details including redemption options and additional terms.
Note: Highest value of 5 cents per litre assumes a Premium Fuel Purchase made with a Scotiabank Value® Visa* Card linked to a Shell Go+ Account. Actual value will vary depending on whether or not the credit card is linked, fuel grade purchased, cost of fuel at time of purchase, whether or not you are a Scene+ member, and how you choose to redeem your Scene+ points.
What is the annual fee for the Scotiabank Value Visa Card?
$29 per year for the primary card, waived for the first year depending on the current offer. Additional cards are free.
What is the regular interest rate?
13.99% on purchases, balance transfers, and cash advances, once the promotional period ends.
Does the card offer points or cash back?
No. It has no classic rewards program. Its value rests entirely on the reduced interest rate.
Who is this card interesting for?
For people who sometimes carry a balance from one month to the next or who want to consolidate existing debt at a low rate. If the balance is paid in full each month, a points or cash back card will be more suitable.
How much can you save in interest?
On an average balance of $3,000 carried all year, the 13.99% rate costs about $420 in interest, compared to about $630 with a card at 20.99%, a difference of about $210. These amounts are simplified estimates.
Is there a balance transfer offer right now?
Yes, 0% for 9 months for accounts opened between July 2, 2026, and January 3, 2027, with a 1% transfer fee (minimum $5).
Is a minimum income required to be eligible?
Scotiabank does not specify a minimum annual income on the official page for this card. Approval remains subject to the usual credit assessment.
Our valuationMilesopedia 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.
The Scotia minimum Visa Card is one of the best credit cards for balance transfers 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 for the first year with this Visa credit card.
What’s more, this Visa credit card offers a low interest rate: 13.99% on purchases, balance transfers and cash advances.
Legal
1 Offer description and terms and conditions: The 0% introductory rate offer on cash advances and the first-year annual fee waiver (the “Offer”) applies only to new Scotia minimum Visa credit card accounts (the “Accounts”) opened between July 2, 2026 and January 3, 2027 (regardless of when you apply for the Account), subject to the terms and conditions below. We will waive the annual fee for the primary card for the first year only. The Offer may be changed, cancelled or extended at any time without notice, and cannot be combined with any other offer.
Description and terms and conditions of the 0% introductory rate offer: The 0% introductory rate offer (the “Rate Offer”) applies to eligible cash advances (including balance transfers and quasi-cash transactions, collectively referred to as “cash advances”), subject to the terms and conditions below. This introductory rate applies for 9 months from that date (the “Promotional Period”). A fee equal to 1% of the amount of any balance transfer made during the Promotional Period applies (minimum fee of $5.00). After the Promotional Period, the interest rate on balance transfers subject to the 0% promotional rate (including any unpaid balance of those cash advances at the end of the Promotional Period) will revert to the applicable preferred interest rate for cash advances (currently 13.99%).
The introductory rate offer is subject to your Account’s cash advance limit. This offer is also based on your approved credit limit as of the date of this offer. This means that if the total of the balances transferred exceeds the approved credit limit, balance transfers may not be processed. This introductory rate offer cannot be used to transfer the balance of another Scotiabank account, or to make a payment or deposit to another Scotiabank account.
Cancellation of the promotional rate: If we do not receive your minimum payment by the due date shown on your statement two times in a row, you will lose the benefits of this special rate offer and your interest rates will revert to the annual rates normally applicable to your Account (24.99% for purchases and 27.99% for cash advances).
Application of payments: Your payment cannot be applied to the balance of your choice. For persons residing in Quebec: Generally, if one or more interest rates apply to your account, we apply payments according to the interest rate(s) that apply to the transactions posted to your account (from the highest rate to the lowest). For persons not residing in Quebec: Generally, if you make a payment greater than the minimum amount shown on your statement, the difference is applied proportionally to the different groups of charges billed to your account. Charges are grouped according to the interest rate applicable to them. Consult your credit card agreement to learn more about how payments are applied to your account.
Description and terms and conditions of the first-year annual fee waiver offer: We will waive the annual fee for the first year only for the primary card, which must occur between July 2, 2026 and January 3, 2027.
Eligibility and exclusions: You cannot take advantage of the Offer if you are currently a primary or secondary cardholder of a Scotiabank personal credit card or if you have been one in the past two years, including if you transfer your balance from an existing Scotiabank personal credit card account (and subject to the exclusions mentioned, persons holding a Scotiabank business credit card are eligible for this offer). By accepting this Offer, you confirm that you meet all eligibility conditions. We reserve the right to revoke this Offer at any time if we believe you do not meet the eligibility conditions, including after its acceptance or obtaining the Account.
Rates and fees: Current annual fees are $29 for the primary card, and additional cards are free (including those issued to co-account holders and additional cardholders). The preferred annual interest rates currently applicable to the Account are as follows: 13.99% on purchases 13.99% on cash advances. All rates, fees, features and benefits described in the application disclosure statement are subject to change.
Savings at Shell
Get up to 3 cents per litre in instant fuel discounts and earn up to 2 cents per litre in Scene+ points value with a Scotiabank Value® Visa* Card linked to a Shell Go+ Account:
Instant 3 cents per Litre Discount on Fuel Purchases (All Grades): Receive an instant 3 cents per litre discount on purchases of fuel (all grades) (“Fuel Purchases (All Grades)”) at participating Shell locations in Canada when you use any eligible Scotiabank debit card or credit card linked to a Shell Go+ Account, up to a maximum of 1,000 litres per month per Scotiabank debit card and per Scotiabank credit card account. This total limit resets at the start of each new month per payment card account. This discount is subject to the Scotiabank Fuel Benefit Terms and Conditions or Tangerine Fuel Benefit Terms and Conditions (as applicable).
Earn up to 2 cents per Litre in Scene+ points Value (Equivalent) on Fuel Purchases: As a Scene+ Member you will automatically earn 1 Scene+ point for each litre in Fuel Purchases (All Grades), and as a Shell Go+ member, automatically earn 1 additional Scene+ point for each litre in Premium Fuel Purchases, made with your linked Scotiabank Value® Visa* Card. This means that for every litre in fuel purchased with your eligible linked card, you can earn the equivalent of up to 2 cents of redeemable Scene+ points value based on a redemption value of $10 for every 1,000 Scene+ points redeemed for fuel purchases at participating Shell Locations. Actual value may be lower depending on how you choose to redeem your Scene+ points. Earn and redemption limits may apply. See the Scene+ Program Terms and Conditions available at sceneplus.ca/terms-and-conditions for full details including redemption options and additional terms.
Note: Highest value of 5 cents per litre assumes a Premium Fuel Purchase made with a Scotiabank Value® Visa* Card linked to a Shell Go+ Account. Actual value will vary depending on whether or not the credit card is linked, fuel grade purchased, cost of fuel at time of purchase, whether or not you are a Scene+ member, and how you choose to redeem your Scene+ points.
Annual fee
Primary card$29
Additional card$0
Annual income required
Individual$12,000
Household$12,000
Conversion fees
2.5%
Earning rate
0xAll spending
Value
2nd Year Value$-29
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