If you haven’t heard of the Scotiabank Value Visa Card, then I suggest you keep reading because you may just save a substantial amount of money, just by applying for this card.

With a competitive annual interest rate of 12.99% for new purchases, cash advances and post-introductory balance transfers this card stands out amongst others in its class with a single rate that applies across the board for multiple uses.

This appears as somewhat of an anomaly within the balance transfer categories as most other issuers charge different rates for different applications of card use. It’s not unusual for most banks to apply an interest rate of 20% or higher to cash advances and those that do generally have a higher balance transfer rate after the honeymoon period is over.

So what is the introductory balance transfer rate? On approval you will qualify for 0.99% APR on all balance transfers within the first (6) six months with a fee of 1% on every transfer greater than $100 within the introductory promotional period.

Preceding this trial all remaining balances on the account and any new balance transfers will be subject to an ongoing %12.99 APR.

So you’ve transferred a lump sum from another credit card onto this one and you’ve been reaping the benefits of mucho savings for months now.

Bundles of cash are overflowing as a hot springs fountain out of your neatly pressed pockets, but now your 6 months are nearing their end and your rate will be increasing. You need not worry yourself, as the rate won’t jump straight out and through the roof like many other cards tend to do. It will feel more like a gentle nudge.

One thing to note is that this card does carry an annual fee of $29 and while this might seem to offset some of your savings, keep in mind that if you carry an average balance that is over $580 or make an initial balance transfer that is greater than $1933, your savings will offset that of your yearly fee.

You are essentially paying a premium for a substantially lower introductory balance transfer APR% than others in the same category.

Scotiabank has also partnered up with select AVIS rental locations within Canada and the United States, offering you great savings of up to 25% against base rates on most vehicles.

If you are a frequent flyer and are in need of a set of wheels wherever your journeys’ take you, then this little perk may come in handy and is something to consider.

Although this is not necessarily a true rewards type benefit, it is most definitely an added advantage, especially for those who are often on the road and have a demanding schedule for their business trips.

The last thing to mention is the ease of use when paying for merchandise. Scotiabank has added built-in support for Visa payWave which enables customers to purchase their items effortlessly by simply waving their card or phone at any enabled pay stations and registers.

For customers that favour online purchases, they can opt to use Visa Checkout, allowing for a 1 click trick experience when buying merchandise from their favourite websites.

From our experience, those in need of a little relief from the cost of high APR’s – from previous purchases accumulating compound interest, that seem to have no end in sight – could, in all probability, benefit from a card like the Scotiabank Value Visa.