Credit Card Review & Application

L'earn VISA Credit Card

4.0

out of 5

- Get up to a 1% Moneyback reward
- $0 annual fee
- Spend wisely, earn valuable rewards
- Build a good credit rating
- Convenient with Visa payWave simply wave your card and go!
- Eligible for My Mobile Wallet
- 20% discount rates at Avis Car Rental



Introductory APR: N/A*
Introductory Period: N/A
APR on Purchases: 19.99% *
Annual Fee: $0*
Card Issuer: Scotiabank
Card Network: VISA
Card Category: Student (Regular)
Card Type: - Card for Bad Credit
- Instant Decision Card
- Reward Card
Credit Needed: Good*

The L'earn Visa credit card is designed for today's college students who face unique challenges their parents never even considered. With rising costs associated with tuition, books, housing and even food, most parents want to ensure their young adults are focused on their GPA instead of the APR. This is the card offer that delivers. It's no secret that today's college graduates face tough obstacles. Many discover that a degree doesn't necessarily shoot them to the top of the list for available positions. This can lend itself to a delayed start in building strong financial habits. This is where the L'earn card can help.

As more financial institutions focus on arming young adults with better financial tools, it was a natural process that an easy to use, lower credit line and lower fee credit card should be designed and offered.

Among its many perks is a simple 1 percent moneyback each year on qualifying purchases and there's no annual fee. A grace period of at least 21 days, lower APR on purchases and cash advances and the opportunity to transfer balances round out this credit card offer.

Because establishing credit can be challenging, ScotiaBank offers a couple of solutions. A co-signor can increase the odds of approval and once applicants submit their own application, they are provided a link for their co-signors if it's deemed necessary. The pending application is held for 60 days, providing ample time for potential co-signors to complete the application process. Another option is pledged security.

Students may opt to provide collateral in the form of a Canada savings bond or a guaranteed investment certificate, provided it equates to 120 percent of the approved credit limit. In these instances, the student applicant will likely need to visit his or her local ScotiaBank branch.

Card members are rewarded handsomely for their strong financial discipline. Wise credit card management can equate to valuable bonus rewards. Plus, card holders enjoy discounts with merchants like Avis Rental Cars.

The Moneyback Rewards Program provides opportunities for graduated rewards based on a number of factors, including how often you use your Visa card and your total dollar amount in transactions. Use your card for purchasing books, ordering food, paying for fuel and any other purchases made with a traditional credit card. Ultimately, for many young people, the L'earn card is the first step made to build a strong credit history that will serve them the rest of their lives. Remember, though, since it's typically the first card for many, making bad financial choices can affect you negatively for many years.

One reason this is a choice parents can believe in is the absence of excessive fees. There's no annual fee and no worries about overly hyped finance changes simply because it's a young consumer. Income can play a role in the approval process; however, it's not nearly as high on the list as more traditional credit cards. This is due to the focus on younger adults and the understanding that it's often the first step towards building a credit history. While other offers have a feel of predatory lending, ScotiaBank recognizes the unique needs of young adults and delivers products that serve a strong purpose. Like similar offers, the focus for younger consumers should include maintaining monthly payments, remaining within their credit limits, and avoiding late charges or over the limit fees.

Finally, the ScotiaBank L'earn credit card includes eligibility for the My Mobile Wallet enrollment, Visa payWave and Visa Checkout, which makes checking out easier than ever. Few credit card offers deliver this much punch and it's just one of the many reasons more consumers are turning to the complete suite of ScotiaBank products. The focus on customer satisfaction goes a long way, as well.

Want to learn more about the L'earn card? Review the terms and conditions, explore the benefits and cash back opportunities and as with every ScotiaBank financial product, answers to your questions are just a quick phone call away. You'll be greeted by a knowledgeable and friendly customer service representative who is empowered to provide solutions right away, versus an endless process of remaining on hold while a supervisor is contacted.
See for yourself the difference ScotiaBank and the L'earn Visa card can make in your college student's life.


The review prepared by

Reward Types: - CashBack Reward Cards
- Universal Reward Cards
Reward Unit: Cash
Rewards: - 1% Moneyback every year on the purchases you've made with your card
Expiration: None*
Yearly Limit: None*
Other Benefits: - Student Credit Tips
- Scotia Credit Card Cheques
- Instant Cash Advances
- Visa payWave
- Easy Access
- Mobile Valet
- Scotia Credit Card Balance Protection (optional)
*See terms and conditions of the card for other benefits
Online Account Access: Yes
Introductory APR: N/A*
Introductory Period: N/A*
APR on Purchases: 19.99% *
Annual Fee: $0*
Grace Period: 21 days*
Min Credit Line: $500
Late Payment Fee: N/A*
Balance Transfer: Yes
Transfer Fee (%): 1.00%
APR Cash Advances: 22.99%
We do not offer online application for this card at the moment.


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† Published on Apr 11, 2016. Information relating to the L'earn VISA Credit Card may change without notice as a result we cannot guarantee the accuracy of details above. It is important you read the terms and conditions attached to a product before submitting the application.




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