Card Review & Application

Scotiabank Rewards VISA Credit Card


out of 5

- No annual fee card
- 1 Scotia Rewards point for every $2 you spend
- Use your points to purchase travel online or over the phone through our full-service travel agency. Or book your own travel using your card and go online to redeem points for the purchase.
- Receive discounts and other special offers on hotels, airfare, car rentals, cruises and vacation packages.
- Receive up to 25% off qualifying car rentals
- Redeem points for merchandise and other rewards

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

The Scotiabank Rewards Visa card rewards its cardholders for using it. The interest rate is rather standard, but there is no annual fee and the initial credit limit is modest. Cardholders are also able to take advantage of other features that give them a full-service credit card that allows them to have some control over the overall cost.

The basics of the card are that one Scotia Rewards point is earned for every two dollars that is spent on the card. The points can then be redeemed for selected merchandise, travel purchases, gift cards, and much more. And while points are being earned, cardholders have the opportunity to take advantage of a 21-day interest free period where they can pay off the entire balance during that period and avoid interest on the purchases that were made on the card.

To qualify for the card, an applicant must be at least the age of majority in his or her province or territory, have no bankruptcies within the past 7 years, and must meet the minimum income requirements. Applicants must also be Landed Immigrants or Canadian Citizens.

Once approved for the card, it does not take long to receive and then the card can be used. Cardholders are able to earn one rewards point for every two dollars spent on the card. It is easy to get the most out of this feature when utilizing the 21-day grace period that allows you to avoid interest on purchases by paying off the balance during that period. If the balance is not paid off during a grace period, the grace period is extended to 25 days the following billing period. If the balance is paid off during that period, then the grace period reverts back to the 21 days.

If the balance is not paid off, the minimum monthly payment is broken down into three parts. Those three parts are the interest, a minimum dollar amount, and any applicable fees. The fees portion can be controlled in that you can control your fees based on what you do or do not do. For instance, you can avoid an overlimit fee by not allowing the account to go over its limit. You can also avoid cash advance fees by not doing cash advances, but there may be times when you need to do them. There are different ways to obtain money from the card. Those methods include through an ABM or a bank teller. Other transactions may also constitute cash withdrawals, such as purchasing a money order or gaming chips.

There is also a fee associated with balance transfers. If a balance transfer is made, the fee is a small percentage of the transaction amount. This is ideal for when a high interest credit card needs to be eliminated in order to save a great deal of money on interest. Another fee is the foreign transaction fee that is charged per transaction. You can choose how often you use the card internationally and have control over that fee. You can choose to use the card as a primary spending method when travelling abroad or you can choose to use it as a secondary method. The fee is low and that makes it easy to use the card abroad. You can also take cash advances when traveling abroad and not have to pay a high charge compared to some competitor cards.

Factor in the account security and online account management and the card is a full-service card that cardholders can get the most out of. The account security measures and tools that are put in place enable cardholders to know what to look for in regards to fraud and also helps cardholders know what to do if the card is used fraudulently. The OnLine Financial Services can make fraud easy to identify. If fraud occurs, Scotiabank will refund the amount of the fraudulent charges in order to eliminate the cardholder's financial responsibility when they have done everything possible to protect themselves against fraud. It is ideal to use the OnLine Financial Services to check the account balance, available credit, and activity frequently. Payments can even be made online.

The review prepared by

Reward Types: - Merchandise Rewards
- Other Rewards
- Travel Rewards
- Universal Rewards
Reward Unit: Point
Rewards: - 1 Scotia Rewards points for every $2 you spend
- Redeem points for any travel purchase, selected merchandise, gift cards and more
Expiration: None*
Yearly Limit: None*
Other Benefits: *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*
Over Limit Fee: $29.00
Balance Transfer: Yes
APR Cash Advances: 22.99%
Additional Fees Foreign Currency Conversion fee: 2.5%
We do not offer online application for this card at the moment.

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* Published on Jun 6, 2017. Information relating to the Scotiabank Rewards 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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