The Scotiabank Value Visa is a low interest, balance transfer credit card that is clearly aimed at people who are looking to reduce their debt or lower the amount they pay in interest. Similar to other cards, there’s a low promotional interest rate for six months before the standard interest rate kicks in.

Since this is a low interest credit card, you’re not going to get many additional perks, but that may not matter as your primary goal may be to reduce your debt. Read my Scotiabank Value Visa review now and find out why it’s one of the best balance transfer credit cards in Canada.

scotiabank value visa review

Scotiabank Value Visa Benefits

  • $29 annual fee
  • 0.99% interest rate on balance transfers for the first 6 months
  • 12.99% interest rate after the promotional period ends
  • Up to 25% off at participating Avis car rental locations
  • Free supplementary card

If you’re looking to reduce your debt, then the Scotiabank Value Visa will likely appeal to you. When you make a balance transfer to this card, you get an interest rate of 0.99% for six months. Once that promotional rate ends, your interest rate goes up to 12.99%. This is significant since most credit cards charge 19.99% interest. That means you’re saving on average 19% interest for six months and 7% after. If you tackle your debt during those first six months, you could save a lot on interest payments

With low interest credit cards, you usually don’t get many additional perks, but the Scotiabank Value Visa gives you up to 25% off at participating Avis car rental locations. The free supplementary card is nice, but realistically speaking, this is not a great joint credit card.

Interestingly enough, the Scotiabank Value Visa is also one of the best credit cards for bad credit. You still need a decent credit score to be approved for the card, but not nearly as high as some of the other cards available on the market. Basically, it’s a great credit card if you graduated from a secured credit card and are now ready for a more traditional card. 

Like every other bank, Scotiabank provides a low interest credit card with a balance transfer option to its clients because it’s a product that will help people manage their money better. Many people don’t think these types of credit cards are valuable, but they’re the best when you’re trying to reduce your debt. For this reason, the Scotiabank Value Visa one of the best Scotiabank credit cards

How the Scotiabank Value Visa compared to others

The Scotiabank Value Visa has some tight competition with three other cards offering arguably better rates.

The American Express Essential Card has a higher interest rate of 1.99% interest rate for the first six months on balance transfers, but after the promotional period ends, your interest rate is just 8.99% and there’s no annual fee.

The MBNA True Line Gold Mastercard has a higher annual fee of $39, but the interest rate on balance transfers for the first 6 months is 0%. Once that promotional period ends, your rate is just 8.99%.

There’s even a no fee version of the MBNA True Line card, but the interest rate is 12.99% after the promotional period ends.

Final thoughts

My Scotiabank Value Visa review is positive. It may not have the lowest rates when compared to other low interest, balance transfer credit cards, but it’s pretty close. If you’re looking to reduce your debt, then this card will help you with that. 

Scotiabank Value Visa Review

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