The Scotiabank Value® Visa* Card is designed for individuals who prioritize affordability and convenience when managing their finances. Unlike traditional credit cards that focus on offering elaborate rewards programs, this card simplifies your financial journey by focusing on one essential benefit: saving you money. Whether you’re consolidating debt, financing a significant purchase, or covering day-to-day expenses, this card makes managing your budget easier with its low interest rates.
As a trusted financial partner, Scotiabank offers the Scotiabank Value® Visa* Card as a straightforward and cost-effective solution for those who prefer reliability and simplicity. This card not only helps you save on interest but also provides practical tools for financial management. With a range of features and flexible payment options, it’s an excellent choice for anyone looking to make smarter financial decisions.
Key information about the credit card

How does the annual fee work?
The Scotiabank Value® Visa* Card comes with an annual fee of $29, which is quite low compared to many other credit cards on the market. This fee can be easily justified by the card’s competitive interest rate of 13.99%, which is significantly lower than the rates offered by most standard credit cards.
A standout feature of this card is its special offer: the first year’s annual fee is waived. This means that you can experience all the benefits of the card for a full year without any additional costs. After the first year, the $29 fee is applied annually, offering consistent value for its low-interest benefits.
How is the credit limit determined?
The credit limit for the Scotiabank Value® Visa* Card is determined based on a comprehensive evaluation of your financial profile. Scotiabank considers several factors when assigning a credit limit, including your income, credit history, existing debt levels, and overall financial stability.
For traditional credit cards like the Scotiabank Value® Visa* Card, the minimum credit limit starts at $500. Applicants with higher income levels and excellent credit scores are likely to be approved for larger credit limits. Maintaining a healthy credit history by paying off balances on time and avoiding missed payments can also increase your chances of securing a higher limit.
Advantages of the credit card
- Low interest rates: With an interest rate of just 13.99% on both purchases and cash advances, this card helps you save significantly, especially if you typically carry a balance from month to month.
- Introductory balance transfer offer: Enjoy a 0.99% interest rate on balance transfers for the first nine months, with a minimal 2% transfer fee. This offer is ideal for consolidating debt and reducing your interest payments.
- No first-year annual fee: As part of a limited-time promotion, the card waives its $29 annual fee for the first year, allowing you to explore its benefits at no cost.
- Interest-free grace period: When you pay your balance in full by the due date, you can enjoy an interest-free period on purchases, maximizing your savings.
- Supplementary cards at no extra cost: Share the benefits of this card with family members without any additional fees for supplementary cards.
- Scotia SelectPay™: This feature enables you to split eligible purchases of $100 or more into manageable monthly installments with low interest rates and no installment fees.
Standout advantage
The Scotiabank Value® Visa* Card’s standout feature is its exceptionally low interest rate of 13.99%. This makes it one of the most affordable options for individuals who frequently carry a balance or need to finance larger purchases. Compared to the average credit card interest rates, which often exceed 19%, this card offers substantial savings on interest charges.
Disadvantages
- No rewards program: Unlike other credit cards, this card does not offer cashback, travel points, or other rewards for purchases.
- Limited perks: The card is focused on affordability and does not include benefits like travel insurance, airport lounge access, or purchase protection.
- Annual fee after the first year: Although the first-year fee is waived, subsequent years require a $29 annual fee unless waived through a banking package.
A standout disadvantage
The main disadvantage of the Scotiabank Value® Visa* Card is its lack of a rewards program. For cardholders who value earning points or cashback on their purchases, this card may feel limited. While it excels in offering savings through low interest rates, it doesn’t provide the additional incentives that many other credit cards include, such as travel benefits or exclusive discounts.
Who can apply for this card?
The Scotiabank Value® Visa* Card is available to applicants who meet the bank’s eligibility requirements. To qualify, you must be at least 18 years old (or the age of majority in your province or territory) and have a steady source of income. A good credit history is essential, as Scotiabank evaluates your past borrowing behavior to assess your financial responsibility.
The card is designed for individuals with a clean credit history, making it less suitable for those who have experienced financial difficulties in the past. Additionally, applicants may need to provide proof of income, such as recent pay stubs or tax returns, to verify their ability to manage credit responsibly. Scotiabank does not explicitly market this card to those with poor credit, so approval for individuals in this category may be challenging.
How to apply for the Scotiabank Value® Visa* Card
For the website
To apply online, visit Scotiabank’s official website and navigate to the credit cards section. Locate the Scotiabank Value® Visa* Card and click on “Apply Now.” You’ll be directed to an application form where you’ll need to provide personal information such as your name, address, employment details, and income. Review the terms and conditions carefully before submitting your application. Once submitted, Scotiabank will process your application, and you’ll typically receive a decision within a few business days.
Through the app
If you prefer using your smartphone, the Scotiabank mobile app offers a seamless way to apply for the card. After downloading the app, log in or create an account. Navigate to the credit cards section, select the Scotiabank Value® Visa* Card, and follow the on-screen instructions to complete the application form. The app also allows you to upload necessary documents, such as proof of income or identification, directly from your device.
At the branch
For those who prefer a more personal touch, applying at a Scotiabank branch is an excellent option. Schedule an appointment with a banking advisor, who will guide you through the application process and answer any questions you may have. Be sure to bring all required documents, such as proof of identity, income, and residence, to facilitate the process.