Who this card is for
A good fit if you…
- People who will transfer a balance, can live with a 2% transfer fee, and will repay that transfer before the nine-month 0.99% window ends.
- Applicants who meet the modest personal-income figure in eligibility, have not held a Scotiabank personal credit card in the past two years if they want the teaser, and who understand this is not 2% grocery cash back.
- Scotiabank customers who want extra cards at $0 — the issuer currently lists additional cards at $0.
- Anyone whose problem is an existing card’s balance, not a Scene+ grocery month.
Skip it if you…
- Anyone who pays the statement in full every month. A 13.99%-class rate does nothing if you never pay interest; Momentum currently lists a 2% everyday mix for that habit.
- People who needed 0% on new purchases rather than on a transfer. That is TD Low Rate Visa.
- Households that shop Costco Canada on this plastic. This is a Visa; BMO Preferred Rate is the low-rate Mastercard.
- Rewards collectors. There is no rewards program; the features currently talk about saving on interest, not points.
Pros and cons
Pros
- Purchase and cash-advance rates currently match at a 13.99%-class figure below typical Canadian rewards cards.
- The current welcome line pairs 0.99% on balance transfers for nine months, a 2% transfer fee, and a first-year annual-fee waiver.
- Additional cards currently show $0.
- The income bar in the eligibility text is modest next to Passport Infinite.
- Visa acceptance is straightforward at Canadian merchants that still skip American Express — just not at Costco.
Cons
- There is no rewards program. Features currently say you save on interest and pay down higher-rate balances faster — that is the product, not a consolation prize.
- The two-year Scotiabank-card exclusion currently applies to this teaser. A recent Momentum or Scene+ card can kill the 0.99% window.
- Welcome-value currently empty / not a cash gift. The first-year snapshot will not manufacture a bonus from a transfer teaser. Ignore affiliate “cash bonus” asides in the detailed feature list unless Scotiabank itself is paying them.
- A Visa cannot check out at Costco Canada.
- Check the issuer’s site for current insurance coverage. This is a low-rate Visa, not a travel-medical product.
Fees and value: is the annual fee worth it?
First-year snapshot (estimate)
- Annual fee
- $29
- Estimated welcome bonus value
- Not listed
- Bonus minus fee (estimate)
- —
This is a simple comparison of the estimated welcome-bonus value against the annual fee. It ignores rewards on spending, credits you have to remember to use, and interest if you carry a balance. Offers change — verify with the issuer.
The fee table shows a $29-class card; the detail line currently notes a first-year waiver, with extra cards at $0. There is no welcome-bonus value to subtract, so the first-year snapshot on this page will not look like a cash gift.
Year one is $0 fee plus 0.99% on a transfer minus the 2% transfer fee. Year two is $29 versus a 13.99%-class purchase rate with no teaser.
If you pay in full, Momentum is the better Scotiabank card. If you needed 0% on new purchases, TD Low Rate is the comparison.
If you needed a Mastercard and a Performance-chequing rebate, BMO Preferred Rate is the other transfer-shaped product. Offers change.
A 2% transfer fee still costs money even at 0.99% interest. Pay the promo down before it ends.
Rewards and earn rates explained
Rewards program: N/A
This card does not pay Scene+ or Momentum cash back. Rewards currently say N/A; detailed features currently restate a low interest rate on purchases, cash advances, and balance transfers.
Put a revolving balance or an incoming transfer here. Put grocery you pay in full on Scotia Momentum Visa Card or Tangerine Money-Back.
Put Sobeys Scene+ on a Scotia Amex. Costco Canada is still Mastercard-only, so this Visa will not help at the warehouse even at 13.99%.
Welcome bonus: how to unlock it
Get a 0.99% promotional interest rate on balance transfers for your first 9 months with a 2% balance transfer fee. Plus, pay no annual fee during your first year.
The current welcome line is a 0.99% promotional interest rate on balance transfers for the first nine months with a 2% balance-transfer fee, plus no annual fee in year one. Eligibility currently excludes current or former primary or secondary Scotiabank personal cardholders in the past two years, including product-changers.
The detailed feature list mentions some affiliates offering a cash bonus — that is not a Scotiabank welcome bonus. Do not transfer more than you can repay before the teaser ends.
Welcome bonus eligibility: You must not currently be, or have previously been, a primary or secondary cardholder of a Scotiabank personal credit card in the past 2 years. Individuals who switched to a different Scotiabank card in the past 2 years are ineligible. The offer is valid if the account remains in good standing.
FAQ
Is the Scotiabank Value Visa Card worth it in 2026?
It is worth it when you will complete a transfer, the 0.99% window and 13.99%-class ongoing rate beat the card you have now after the 2% fee, and you have a payoff date. It is not worth it as a cash-back Visa or as a card you pay in full.
Value Visa vs TD Low Rate vs BMO Preferred Rate?
This Visa currently lists 13.99%, a $29-class fee waived in year one, and 0.99% on transfers for nine months with a 2% fee. TD Low Rate currently lists a lower ongoing purchase rate and 0% on purchases. BMO Preferred Rate is a Mastercard at 13.99% on purchases, with 0% on balance transfers for 18 months and a 3% transfer fee. Match purchases versus transfers to the debt you actually have.
Value Visa vs Scotia Momentum Visa?
Momentum Visa currently lists a 2% everyday cash-back mix at a mid fee. This card currently lists no rewards and a lower purchase rate. Choose Momentum if you pay in full. Choose Value if you will carry or transfer a balance.
Is there a student Value Visa?
Yes. There is also a Scotiabank Value Visa Card (for students). This review is the standard low-rate Visa. If you are applying as a student, use the student product page rather than assuming this card’s two-year exclusion copy applies the same way.
Does this card charge foreign-exchange fees?
Most Canadian low-rate Visas add a conversion fee on foreign-currency purchases. This is a domestic rate card, not Passport. Confirm Scotiabank’s current FX rate in the agreement.
Compare related cards and guides
More Canadian credit card lists that match this product, plus a few cards people usually compare it with.
- TD Low Rate Visa Card review · TD · $25 annual fee
- BMO Preferred Rate Mastercard review · BMO · $29 annual fee
- Scotia Momentum Visa Card review · Scotiabank · $49 annual fee
