Scotiabank Value Visa Card Review



Annual Fee


Annual Rewards


Intro Offer


Annual fee


Annual rewards


Intro offer


  • Low annual fee
  • Competitive purchase interest rate
  • Balance transfer promotion
  • No minimum income requirement
  • Access to Visa benefits, such as discounts and insurance


  • No rewards or cash back on purchases
  • Limited cardholder perks
  • Balance transfer fees apply
  • Foreign transaction fees
  • Not ideal for travel or high spenders

Performance test results

At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.

You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.

The Scotiabank Value Visa Card has earned a 3.78 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).




Interest rates




The highest scoring categories for the Scotiabank Value Visa Card are interest and fees.

These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.

This weighting allows us to judge cards on their merits and the customers they are designed for.

For the Scotiabank Value Visa Card the most important factors for scoring this card are its interest and fees.


With the Scotiabank Value Visa Card, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Calculating your annual rewards

We estimate that spending $2,000 per month with the Scotiabank Value Visa Card would earn $0 in rewards over the year.

Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.

We found that you’d earn this per category:

Our study investigating the value found that each dollar spent on the Scotiabank Value Visa Card is worth up to $0.00, depending on how you redeem.

This $0 in rewards value puts the Scotiabank Value Visa Card in the bottom 20% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the Scotiabank Value Visa Card earns $0 in rewards value.

We can compare this card to other options by looking at the earn rate by category.

This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.

For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.

In this example, that’s a 10% earn rate on gas.

Above, we’ve calculated the earn rate for the Scotiabank Value Visa Card for every spend category and compared it to the average for all Canadian credit cards.

For an annual spend of $24,000, we estimated annual rewards value at up to $0.

That’s equivalent to a 0.00% return on spending.

The Scotiabank Value Visa Card has an annual fee of $29. After deducting this, we predicted net annual rewards of $-29.

This puts it in the bottom 10% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.


The Scotiabank Value Visa Card has a $29 annual fee.

The average card charges $85. So, the Scotiabank Value Visa Card is in the bottom 50% of cards based on the cost of the annual fee.


We manually review the perks of each credit card to determine how they compare to other cards.

The Scotiabank Value Visa Card scored a 0.2 out of 5 for perks, putting it in the bottom 10% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

Cash Advance12.99%
Balance Transfer12.99%

The average (median) credit card has a purchase interest rate of 19.99% and so the Scotiabank Value Visa Card charges 7% less than the average.

For cash advances it costs 12.99% compared to the average of 19.96%.

Testing the Scotiabank Value Visa Card with a $2,000 starting balance, you can see in the graph how the 7% less in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

We scored it 0.0 out of 5 for insurance.

It offers 0 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

Do I qualify?
Estimated Credit Score760 – 900
Personal Income$12,000
Household Income$0
Annual Fee$29
Extra Card Fee$0
Card typeVisa

We scored it 2.5 out of 5 for approval.

We predict that you will require a credit score of at least 760 to qualify for the Scotiabank Value Visa Card, while the average card requires 652 to qualify.

This puts it in the top top 10% of cards by approval difficulty.

The personal income requirements are $12,000, while the average card requires $23,896.

This puts it in the top 40% of cards by the income required to qualify.

The Scotiabank Value Visa Card is designed primarily for those who are looking for a credit card that offers simple and competitive interest rates, making it an excellent choice for cardholders who typically carry a balance.

In this review, we’ll discuss the card’s earning potential, outline four benefits, and cover two drawbacks to help you assess the suitability of the Scotiabank Value Visa Card for your needs.

Earning potential

This card is not primarily focused on earning points or cash back on purchases. Its main attraction is the low-interest rate it offers on card balances. Therefore, this card may not be the best choice if you’re looking for significant rewards on spending categories such as dining, travel or groceries.


  1. Low Regular Interest Rate – The primary advantage of the Scotiabank Value Visa Card is its low regular interest rate of 12.99% on purchases and cash advances. This makes it an appealing option for those who occasionally carry a balance and want to minimize the interest charges they accrue.
  2. Introductory Balance Transfer Offer – New cardholders can take advantage of the 0.99% interest rate on balance transfers for the first six months, making it an excellent choice for individuals looking to consolidate and pay down high-interest debt while saving on interest costs.
  3. Save on Car Rentals – With the Scotiabank Value Visa Card, users can enjoy up to 25% off base rates at participating AVIS and Budget Car Rental locations globally, providing significant savings when renting vehicles for travel or everyday needs.
  4. No Annual Fee for Supplementary Cards – Cardholders can share the benefits of the Value Visa Card with a family member or partner by adding them as an authorized user at no additional annual fee. This allows both users to take advantage of the low-interest rates and car rental discounts provided by the card.


  1. No Rewards Program – Given that the main focus of the Scotiabank Value Visa Card is to offer low-interest rates, the card lacks a rewards program, making it less appealing for those looking to earn points or cash back on their purchases.
  2. Foreign Transaction Fee – One potential drawback of the card is the 2.5% foreign transaction fee on purchases made outside of Canada. This can make it less appealing for those who frequently make purchases in foreign currencies or travel abroad.

Additional information

In conclusion, the Scotiabank Value Visa Card is most suitable for individuals seeking a low-interest rate credit card to minimize their interest charges, especially if they occasionally carry a balance.

While it doesn’t offer a rewards program, the card’s primary benefits, including an attractive balance transfer offer and savings on car rentals, can provide considerable value to the right user.

Is the Scotiabank Value Visa Card not convincing you? Consider the Scotia Momentum No-Fee Visa Card or the Scotia Momentum Visa Card. Still not the right credit card? Make sure not to miss the Scotiabank Passport Visa Infinite Card.


The Scotiabank Value Visa Card does not operate on a points-based reward system. Instead, this credit card primarily offers cardholders a low interest rate on purchases, balance transfers, and cash advances. Therefore, there are no points to redeem for rewards or benefits with this specific card.

The Scotiabank Value Visa Card does charge a foreign transaction fee for purchases made in a non-Canadian currency. This fee is set at 2.5% of the transaction amount, which is in line with many other Canadian credit cards.

When making purchases in foreign currencies, this fee will be applied in addition to the conversion rate from the foreign currency to Canadian dollars.

The Scotiabank Value Visa Card does not have a minimum income requirement for applicants. This means that individuals with a wide range of income levels can apply for this card, making it an accessible option for many Canadians.

Key benefits

  • $0 annual fee for the first year, $120 thereafter
  • Earn 4% cash back on eligible groceries, recurring bill payments, and subscription purchases
  • 2% cash back on public transit, ridesharing, and gas station purchases
  • Unlimited 1% cash back on all other eligible purchases
  • Comprehensive travel insurance coverage included
  • Purchase security and extended warranty protection
  • Roadside assistance membership at no extra cost
  • Mobile device insurance up to $1,000
  • Zero liability for unauthorized transactions
  • Access to exclusive dining and entertainment offers via Visa Infinite
  • Flexible redemption options for cash back rewards

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