The ClearFin bottom line
📉 Low Rate
This card is designed primarily for access to credit rather than rewards. The $29 annual fee should be weighed against the rewards and benefits you expect to use.
Checked 2026-08-09 · Official issuer catalogueIndependent ClearFin review · Scotiabank · Visa
Scotiabank Value Visa
Start with 0% promotional balance-transfer rate for 9 months plus first-year fee waiver.
Independent comparisonFees includedCanadian card data
- Annual fee
- $29
- Reward type
- Scene+
- Welcome offer
- Available
- Insurance
- 1 coverages
Current new-cardmember offer
Certificate terms apply
$50cash rebate*
📉 Low Rate
📉 Low Rate
Welcome bonus
0% promotional balance-transfer rate for 9 months plus first-year fee waiver
New cardmembers can earn 0% promotional balance-transfer rate for 9 months plus first-year fee waiver by completing the steps below.
Offer details
A 1% balance-transfer fee and the issuer's full eligibility and timing terms apply.
How you earn
- No traditional points-based rewards earning system
- No Scene+ points earned per $1 spent on purchases
- Fuel savings value at Shell (up to 5¢/L in value via Scene+ ecosystem linkage)
- Indirect rewards through interest savings rather than spend-based points accumulation
Costs and requirements
Fees & eligibility
Confirm final approval criteria and current rates directly with the issuer.
Annual fee$29
Purchase interest13.99%
Cash advance interest13.99%
Foreign transaction fee2.5%
Income requirement$12,000Issuer approval criteria apply
Recommended credit score550+ Fair to Good (student / low-interest card band)
Designed for students and early credit users prioritizing low-interest borrowing over rewards accumulation.
300Poor
560Fair
660Good
725Very Good
760Excellent
ClearFin estimate on Canada's 300–900 scale. This is not an issuer cutoff or approval guarantee; lenders may use different bureau scores and underwriting criteria. Approval is based primarily on student status, income threshold (~$12,000 CAD minimum), and basic credit file presence where applicable. Not a premium underwriting product.
Reward limits: No published spending caps or category limits on earn rates. Interest-focused product where rewards accumulation is secondary and governed only by Scene+ program partner eligibility rules.
Using your rewards
Redemption options
Redemption values and availability may vary by option and can change.
Redeem Scene+ points with participating grocery, entertainment, dining, and retail partners.
Use eligible Scene+ points toward travel booked through the program; redemption values and availability vary.
Beyond the points
Benefits that come with the card
Consider these extras by the value they add to purchases and experiences you already use.
Low interest rate structure
Reduced purchase and cash advance interest rate (13.99%) compared to standard credit cards, designed to lower borrowing cost.
Balance transfer optimization
Introductory 0.99% interest rate on balance transfers for 9 months with a 2% transfer fee, enabling short-term debt consolidation.
Fuel savings at Shell
Up to 5¢ per litre in value at participating Shell stations when linked with Scotiabank and Scene+ program.
Debt reduction acceleration
Lower interest burden allows faster repayment of existing higher-interest credit card balances.
Payment flexibility tools
Access to Scotia SelectPay installment plans for eligible purchases over $100 to spread payments over time.
Credit-building accessibility
Designed for students with minimum credit limit starting at $500, supporting early credit history development.
Mobile wallet compatibility
Supports Apple Pay and Google Pay for secure and convenient digital payments.
Protection included
Insurance at a glance
1 coverage listed. Key terms are summarized below; full certificate terms apply.
Purchase security
This coverage is listed in ClearFin's card catalogue. Confirm eligibility, limits, exclusions, and payment requirements in the issuer's current insurance certificate.
Coverage is subject to eligibility, exclusions, limits, payment requirements, and claim rules in the insurance certificate.
The verdict
What we like
- Lower interest rate than standard credit cards (13.99% purchases and cash advances)
- 0.99% balance transfer promotional rate for 9 months (2% fee applies)
- First-year annual fee waived under promotional offer
Worth noting
- Annual fee of $29 after first year
- No traditional rewards program (no points or cashback on purchases)
- Balance transfer requires 2% fee even during promotional rate period
ClearFin analysis
Our detailed review
A practical reading of where the card earns, what the fee buys, and which limits matter.
📉 Low Rate
Low interest rate. Best for carrying a balance occasionally.
How the rewards work
This card does not currently list a rewards return in ClearFin's catalogue. Its value is primarily tied to credit access and account management rather than points or cash back.
What the annual cost means
The $29 annual fee should be justified primarily by benefits you will actually use.
Who it may suit
It may suit someone prioritizing access to credit or rebuilding history, provided the issuer's approval terms and any security-deposit requirements fit their situation.
What to examine before applying
Compare the purchase interest rate, foreign-transaction fee, approval requirements, reward limits, and insurance certificates. Pay particular attention to merchant-category rules because a store may not receive the reward rate its products appear to suggest.
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Issuer terms apply. ClearFin is not affiliated with this provider. How we make money. Card facts were checked against the issuer's official source. The issuer's current catalogue was checked. Any field not explicitly listed remains marked as unverified rather than estimated.