Low Interest
Balance Transfer
Student
Scotiabank Value Visa Card for Students
Scotiabank
Current Welcome Offer
0.99% promo interest rate on balance transfers for 9 months + First-year fee waived.
Annual Fee
$29
$0
1st Year Free
Purchase APR
13.99%
Cash Adv. APR
13.99%
Welcome Bonus
~$29
RateBuddy Verdict
The Good
- A great debt-management tool for students, featuring a 0.99% interest rate on balance transfers for the first 9 months.
- The standard ongoing interest rate is only 13.99% (significantly lower than standard student cards), keeping interest costs low if you carry a balance.
- The $29 annual fee is completely waived in your first year.
The Trade-offs
- Does not earn any cash back or rewards points on your daily textbook, grocery, or entertainment purchases.
- If you have a steady part-time income of over $12,000 per year, you likely qualify for better rewards cards with embedded benefits.
- Completely lacks embedded credit card insurance (no purchase security or extended warranty for expensive electronics like laptops).
Rewards & Earnings
Base Rate 0.00%
Rewards Summary: Base Earn: None; This card does not earn points or cash back. It is designed for students to save on interest and consolidate debt.
- All Purchases: No points or cash back earned
Welcome Bonus Details
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.
Estimated Value: $29.00
Features & Benefits
First-Year Fee Waived
First-year annual fee waived ($29 value)
Introductory 0% APR on Balance Transfers
0.99% introductory interest rate on balance transfers for the first 9 months
Low Purchase Interest
13.99% ongoing rate on purchases and cash advances
Additional Perks
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Insurance Coverage
Note: This card does not include embedded Travel, Medical, Car Rental, or Purchase insurance benefits.
Rates & Fees Details
| Purchase APR | 13.99% |
|---|---|
| Cash Advance APR | 13.99% |
| Annual Fee | $29 |
| Supplementary Card | $0.00 |
| Income Required | No specific requirement listed. |