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Scotiabank Value Visa Card. Good or Bad?

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  • Feb 2nd, 2018 7:38 am
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[OP]
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Aug 27, 2012
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Scotiabank Value Visa Card. Good or Bad?

I got this offer on my scotiabank account that I am pre-approved for this credit card with $20k limit.

Should I accept this or not?
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Mar 16, 2011
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I got the pre-approval offer last year and only took it because it gave me a balance transfer option of 1.99%. Once i paid it off, i converted it to a Momentum. The feature of the Value Visa is the somewhat lower interest rate, which is still not great so i didn't see much upside to keeping it after the BT offer.
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Aug 24, 2016
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If you can use it, sure accept it.
If not, but you would like another card Scotia has instead, I believe you can call them and ask to accept that offer, but would like a different card instead.
[OP]
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Not much of rewards in this one. I guess I will pass.
[OP]
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coolintheshade wrote: If you can use it, sure accept it.
If not, but you would like another card Scotia has instead, I believe you can call them and ask to accept that offer, but would like a different card instead.
Do I have to go to the branch to talk about a different credit card or it is only through phone?
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test9251 wrote: Do I have to go to the branch to talk about a different credit card or it is only through phone?
Not sure.
You could call ahead to a branch if that what you prefer, but it should be able to be done over the phone too.
[OP]
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coolintheshade wrote: Not sure.
You could call ahead to a branch if that what you prefer, but it should be able to be done over the phone too.
Thanks. I might just get different one, if they allow.
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Mar 16, 2011
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test9251 wrote: Thanks. I might just get different one, if they allow.
I converted my Vale Visa to a Momentum just by a phone call.
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They have a decent first 6 months balance transfer rate and occasionally there's targeted balance transfer offers after that. It's one alternative to the MBNA balance transfer card in that sense.

If you have any debt that's higher than ~11.99% interest, I think it's a no-brainer to accept. If you don't, then you don't necessarily want to pay the $29 annual fee for no reason.
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Gotta pay 29$ right off the hop.
Poor deal, even if you want to do a BT
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User455957 wrote: Gotta pay 29$ right off the hop.
Poor deal, even if you want to do a BT
It's a good deal only if someone is carrying a balance on a higher interest card.

20k @ 19.99% interest is $3998 a year interest charges.
That same 20k on a 11.99% card is $2398

Hopefully nobody is carrying that kind of balance on a 20% card, but for those that may be, this is a good option.

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