Scotiabank Value Visa Card for Students review
Best for: Students who expect to carry a balance and want a 13.99% rate instead of rewards.
- Welcome bonus
- 0% on balance transfers for 9 months plus no annual fee in the first year
- Annual fee
- $29
- Interest rates
- 13.99% / 13.99% Purchase / cash advance
- FX fee
- 2.5%
The bottom line
The Scotiabank Value Visa Card for Students charges 13.99% on purchases, cash advances and balance transfers, for a $29 annual fee that’s waived in the first year under the current offer. The offer also includes 0% on balance transfers for 9 months with a 1% fee. It earns no rewards, so it suits students who might carry a balance, not those who pay in full.
Welcome bonus
- 1% balance transfer fee, minimum $5
- For new accounts opened between July 2, 2026 and January 3, 2027
- After 9 months the rate becomes the cash advance rate, currently 13.99%
- Not available if you held a Scotiabank personal credit card in the past 2 years
Rates & fees
- Annual fee $29, waived in the first year with the current offer
- Supplementary cards $0
- Minimum credit limit $500
Standard rates of 24.99% (purchases) and 27.99% (cash advances) apply if two consecutive minimum payments are missed during the promotion
Perks & benefits
Pros & cons
Pros
- 13.99% on purchases, cash advances and balance transfers
- Current offer: 0% on balance transfers for 9 months
- First-year annual fee waived under the current offer
- Free supplementary cards
Cons
- $29 annual fee after the first year
- Earns no rewards
- No built-in insurance
- Two missed payments in a row during the promotion trigger 24.99% on purchases
A low-rate student card: 13.99% on purchases and balance transfers, 0% on transfers for 9 months under the current offer, and a $29 fee waived in year one. No rewards.
Suits you if
- You expect to carry a balance for part of the year
- You want to move debt off a higher-rate card
- You like splitting big buys into instalment plans
Look elsewhere if
- You pay in full each month and want rewards
- You want insurance with your card
- You might miss payments, which can push your rate to 24.99%
Credit Lab Expert
Our detailed review
Who it’s for
The Scotiabank Value Visa Card for Students is a low-rate card. It charges 13.99% on purchases, cash advances and balance transfers, against 21.99% on purchases for Scotiabank’s no-fee student rewards cards. It earns no points or cash back.
That trade only pays off if you carry a balance. A student who pays the full statement every month pays no purchase interest on any card, so a no-fee rewards card returns more. A student paying for textbooks or a laptop over several months, or moving a balance from a higher-rate card, gets more from the lower rate.
The current offer
Scotiabank’s current offer is 0% on balance transfers for the first 9 months, with a fee of 1% of each transfer, minimum $5, plus no annual fee in the first year. It applies to new accounts opened between July 2, 2026 and January 3, 2027, and isn’t available to anyone who held a Scotiabank personal credit card in the past 2 years.
For example, moving a $2,000 balance costs a $20 fee. At 13.99%, the same $2,000 would cost roughly $210 in interest over 9 months if the balance stayed level. After 9 months, any transferred balance left is charged the cash advance rate, currently 13.99%.
Keeping the low rate
The promotion covers balance transfers only. New purchases are charged 13.99% from the start, so a transferred balance shrinks fastest if day-to-day spending goes elsewhere or is paid in full.
The low rates depend on paying on time. If two consecutive minimum payments are missed during the promotion, standard rates of 24.99% on purchases and 27.99% on cash advances apply. Setting up an automatic minimum payment avoids that.
Fees and extras
The annual fee is $29 for the primary card, waived in the first year under the current offer, and supplementary cards cost $0. The minimum credit limit is $500. Purchases in a foreign currency carry a 2.5% fee, or $2.50 per $100.
There’s no built-in insurance; Scotia Credit Card Protection is optional. Extras include up to 5¢ per litre in value at Shell with a linked Shell Go+ account (up to 3¢ off instantly plus up to 2¢ in Scene+ points), up to 25% off base rates at participating Avis and Budget locations in Canada and the US, Scotia SelectPay instalment plans on purchases of $100 or more with no instalment plan fee, 10% off GigSky global mobile data plans, and Apple Pay and Google Pay.
How it compares
The Scotiabank Value Visa Card has the same 13.99% rates, $29 fee and current offer; the student version is the one Scotiabank lists among its student cards. The Scotiabank Scene+ Visa Card for Students and the Scotiabank American Express Card for Students have no annual fee and earn Scene+ points, but charge 21.99% on purchases.
If you’re confident you’ll pay in full each month, one of the no-fee Scene+ cards is the better match. If you expect to carry a balance for part of the year, the Value Visa’s lower rate usually saves more than the points would earn. Canadian citizens and permanent residents can apply online; international students book an in-person appointment. Scotiabank doesn’t publish a minimum credit score.
How it compares
- Sits in the middle on yearly cost among the credit cards we compare.
- Charges the same 2.5% foreign transaction fee as most cards we compare.
- Spending $1,000 in a foreign currency adds about $25 in FX fees, or $125 on $5,000.
Side by side with similar picks
| Scotiabank Value Visa Card for Students |  BMO Preferred Rate Mastercard®* |  CIBC Select Visa* Card |  RBC Visa Classic Low Rate Option | |
|---|---|---|---|---|
| Annual fee | $29 | $29 | $29 | $20 |
| FX fee | 2.5% | 2.5% | 2.5% | 2.5% |
| Rewards rate | — | — | — | — |
| Purchase interest | 13.99% | 13.99% | 13.99% | 12.99% |
| Welcome bonus | 0% on balance transfers for 9 months plus no annual fee in the first year | First-year $29 annual fee waived | 0% interest for up to 10 months on balance transfers of $100 or more | 0.99% on balance transfers |
| Offered by | Scotiabank | BMO | CIBC | RBC |
More similar credit cards
More from Scotiabank
Frequently Asked Questions
Does the Scotiabank Value Visa Card for Students have an annual fee?
Yes. The Scotiabank Value Visa Card for Students has an annual fee of $29, about $2.42 a month. Annual fee $29, waived in the first year with the current offer; supplementary cards $0. Minimum credit limit $500. Standard rates of 24.99% (purchases) and 27.99% (cash advances) apply if two consecutive minimum payments are missed during the promotion..
What is the Scotiabank Value Visa Card for Students welcome bonus?
0% on balance transfers for 9 months plus no annual fee in the first year. 1% balance transfer fee, minimum $5. For new accounts opened between July 2, 2026 and January 3, 2027. After 9 months the rate becomes the cash advance rate, currently 13.99%. Not available if you held a Scotiabank personal credit card in the past 2 years.
What is the interest rate on the Scotiabank Value Visa Card for Students?
13.99% on purchases and 13.99% on cash advances. You can avoid purchase interest by paying your full statement balance by the due date.
What interest rate does the Scotiabank Value Visa Card for Students charge?
13.99% on purchases, cash advances and balance transfers.
Does the student Value Visa have an annual fee?
Yes, $29 a year for the primary card, waived in the first year under the current offer. Supplementary cards are free.
How does the student Value Visa balance transfer offer work?
Transfers are charged 0% for the first 9 months with a fee of 1% of each transfer, minimum $5, for accounts opened between July 2, 2026 and January 3, 2027. After that, any remaining balance is charged 13.99%.
Does the student Value Visa earn rewards?
No. It earns no points or cash back. Linking it to Shell Go+ gives up to 5¢ per litre in value at Shell, part of it in Scene+ points.
Who can’t get the student Value Visa offer?
Anyone who held a Scotiabank personal credit card in the past 2 years, including those switching from another Scotiabank card.
Can the student Value Visa rate go up?
Yes. If two consecutive minimum payments are missed during the promotion, standard rates of 24.99% on purchases and 27.99% on cash advances apply.
Does the student Value Visa come with insurance?
No built-in insurance is listed. Scotia Credit Card Protection, an optional creditor insurance, can be added separately.
Student Value Visa or Scotiabank Scene+ Visa Card for Students?
If you pay in full every month, the no-fee Scene+ card earns points at no cost. If you carry a balance, the Value Visa charges 13.99% against 21.99%.
What is the minimum credit limit on the student Value Visa?
$500.
Can international students apply for the student Value Visa?
Yes, by booking an in-person appointment. Canadian citizens and permanent residents can apply online.
Rates, fees and offers come from Scotiabank’s published terms and can change at any time. Confirm the current terms with Scotiabank before applying. CreditLab may earn a commission from partner links; this never changes the facts we show. See our methodology.