Low Interest
Balance Transfer
Student
Scotiabank Value Visa Card for Students
Scotiabank
Welcome Bonus:
0.99% promo interest rate on balance transfers for 9 months + First-year fee waived.
Balance Transfer:
0.99% Balance Transfer for 9 months (2% transfer fee)
Annual Fee
$0
$29 after first year
Purchase APR
13.99%
Cash Advance
13.99%
Bonus Value
$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%
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.
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
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
Insurance Coverage
Note: This card does not include embedded Travel, Medical, Car Rental, or Purchase insurance benefits.
Rates, Fees & Eligibility
| Purchase APR | 13.99% |
|---|---|
| Cash Advance APR | 13.99% |
| Annual Fee | $29 |
| Supplementary Card Fee | $0 |
| Income Required | No specific requirement listed. |
| Recommended Credit Score | — |
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Filed Under
Low Interest
Balance Transfer
Student
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