Scotiabank Credit Cards

by John_S on November 15, 2011

Scotiabank offers a range of financial services to its business and individual clients, from day-to-day and online banking to investment products, insurance plans, loans and lines of credit, mortgages, and more. The credit cards featured by the Bank of Nova Scotia include no annual fee credit cards, rewards credit cards, low rate credit cards, and a variety of others. Business customers can choose from a number of credit cards intended for businesses, helping them control their business expenses. Business credit cards are designed for mid-sized and small companies and are featured as the ideal solution to reducing borrowing costs and managing cash flow.

Scotiabank Student Credit Cards

The Bank of Nova Scotia offers two credit cards, which are especially designed for students. One option is L’earn VISA, featured with zero annual fee, 21.99 percent interest on balance transfers and cash advances, 19.99 percent on purchases, and interest-free period of 21 days or more. The minimum credit limit is $500. Clients who choose this credit card earn up to 1 percent cash back on purchases charged during the year. Additional features include optional balance protection and instant cash advances. Visa zero liability and Visa payWave are also offered. Another of the Bank of Scotia credit cards is SCENE Visa, going with a credit limit of $500, interest-free period of 21 days, 21.99 percent interest rate on balance transfers and cash advances, and 19.99 percent on purchases. The card earns one bonus point for every dollar in purchases, and you get 5 bonus points for using the card at participating Cineplex theatres. Points can be redeemed for music, movies, and more, and the first purchase earns 4,000 bonus points. There is no annual fee. Scotia Visa cheques are an added benefit and can be used to transfer balances from high interest retail and gas credit cards as well as to pay for insurance premiums, large items, utility bills, or medical bills.

Scotiabank Cashback Credit Cards

Scotiabank also offers cashback credit cards with plenty of beneficial features. Among the Bank of Nova Scotia credit cards featured with cash back is the Scotia Momentum VISA Infinite, going with a minimum credit limit of $5,000, annual fee of $99, and 19.99 percent interest rate on purchases. The interest rate on balance transfers and cash advances is higher or 21.99 percent. Likely applicants have a minimum household income of $100,000 or a minimum personal income of $60,000. This card earns one percent cash back on purchases, two percent on recurring bills and drugstore purchases, and four percent on purchases in grocery stores and gas stations. Additional benefits include up to 20 percent rental car discounts at AVIS car rental stores, Scotia Visa cheques, balance protection, and instant cash advances, among others. Another cashback credit card to look into is the Scotia Momentum VISA, offered with an interest-free period of 21 days or more, $500 minimum credit limit, and interest rate of 19.99 on purchases. The annual fee is $39.

Scotiabank Low Interest Credit Cards

Clients of Scotiabank who look for low interest credit cards have three options to choose from. Scotiabank Value VISA is offered with an 11.99 percent interest rate, interest-free period of 21 days or more, $500 minimum credit limit, and annual fee of $29. This card is a good fit for customers of the Bank of Nova Scotia who prefer to save on interest, pay down their balances quicker, and simplify monthly payments. Additional features include rental discounts, Scotia VISA cheques, and zero liability. Another of the Bank of Nova Scotia credit cards with low interest is Scotiabank No-Fee Value VISA, featured with a 16.99 percent interest rate, zero annual fee, and $500 minimum credit limit. This card goes with the same beneficial features as Scotiabank Value VISA. A third offer is ScotiaLine Visa, featured with zero annual fee, $20,000 minimum credit limit, and secured or unsecured interest rates. Secured rates equal the prime rate of Scotiabank plus 1 percent while unsecured rates equal the prime rate plus 4.99 percent. The credit limit ranges from $20,000 to $500,000. The card is offered with extended warranty protection, purchase security, and interest-free period of 21 days or more.

Scotiabank Reward Credit Cards

The Bank of Nova Scotia also offers reward credit cards to its clients. One is SCENE VISA and another is ScotiaGold Password VISA, with an annual fee of $110 and $5000 minimum credit limit. The interest rate is set at 21.99 percent for balance transfers/ cash advances and 19.99 for purchases. The card earns one reward point for every dollar in purchases, and a welcome bonus is offered with the first purchase. Clients who purchase travel through Scotia Rewards get 5 percent cash back. Cardholders travel with no restrictions, at any time of the year, and anywhere. The Scotia Rewards Concierge Service gives clients the opportunity to book private tennis or ski lessons, arrange a floral delivery, obtain events and sporting tickets, make restaurant reservations and recommendations, and more. Other beneficial features include car rental discounts, instant cash advances, and free card registration service for all debit and credit cards and important documents, including insurance policies, passports, and driver’s licenses. In the event of theft or loss, Scotiabank places an urgent stop notice and a card replacement process is started.  There is no restriction on the number of documents and cards to be registered.

Another of the Bank of Nova Scotia credit cards with rewards is ScotiaHockey VISA. This card goes with an annual fee of $49, grace period of at least 21 days, and $500 minimum credit limit. The interest rate on cash advances and balance transfers is set at 21.99 percent, and a lower interest rate applies to purchases – 19.99 percent. One dollar in purchases earns one ScotiaHockey Rewards point, and points can be redeemed for merchandise, electronic gift certificates, exclusive hockey events, travel, and more. Cardholders who redeem for travel enjoy flexible travel options and no booking fees. There are no blackouts or restrictions, and points can be redeemed by phone or online. The first purchase charged to the card earns 2,000 bonus points. Beneficial features include balance protection, instant cash advances, and Visa payWave, among others.

Scotiabank No Annual Fee Credit Cards

Clients of Scotiabank who want to have a no annual fee credit card can choose from a variety of options. Scotiabank No-Fee Momentum VISA and Scotiabank No-Fee Value VISA are two good choices. Scotiabank No-Fee Momentum VISA is offered with a $500 minimum credit limit, zero annual fee, and grace period of at least 21 days. An interest rate of 21.99 applies to balance transfers and cash advances, and the interest rate on purchases is set at 19.99 percent. A low interest rate of 7.99 percent is offered for a period of six months, but it applies to purchases only. Cardholders earn 1 percent cash back on recurring bill payments and drugstore, grocery store, and gas purchases. All other purchases earn 0.5 percent. There is a long list of merchants that qualify for cash back of 1 percent. Among them are Canada Safeway, No Frills Drugs, Gale S Gas Bar, Canadian Tire Gas Bars, and many others. Additional features include instant cash advances, AVIS car rental discounts, and VISA payWave, which offers security, convenience, and speed when charging small purchases. Among the Bank of Nova Scotia credit cards with no annual fee is also the No-Fee ScotiaGold Visa. This credit card goes with a $5,000 minimum credit limit, zero annual fee, and 19.99 interest rate on purchases. The interest rate on cash advances and balances is higher (21.99 percent). This card is featured with emergency travel assistance, rental car collision insurance, and commission free traveler’s cheques. Cardholders who would like to have additional cards issued can download and fill in the bank’s supplementary card order form. Other no fee credit cards to look into are SCENE VISA and ScotiaLine VISA.

Scotiabank Business Credit Cards

Scotiabank offers four credit card varieties to its business clients. One option is the ScotiaGold Passport for business Visa, which is featured with rewards. This card goes with a $5,000 minimum credit limit, $500,000 maximum credit limit for secured lines of credit, and $50,000 maximum limit for unsecured lines of credit. The card is offered with an annual fee of $120 and 19.99 percent interest rate on purchases. Additional cards cost $50 a year. The card earns 1 bonus point for every dollar in purchases, and cardholders can redeem points for brand name merchandise, Scotia Rewards credit and investment vouchers, gift certificates, and unrestricted, flexible travel options. Cardholders who hold supplementary cards also earn points. Additional card benefits include instant cash advances, access to Visa mini-statements, as well as free VISA checks to pay utility and dental/ medical bills, pay insurance premiums, and make balance transfers.  Personalized credit cards with the cardholder’s business and personal name are offered.

Another option is the ScotiaLine for business VISA card. This card goes with zero annual fee, credit limit up to $50,000 for unsecured lines of credit and credit limit up to $500,000 for secured lines of credit. The unsecured rate is equal to the prime rate plus 2.49 to 5.49 percent, and the secured rate is set at as low as the prime rate plus 1 percent. An interest-free period of 21 days or more applies to purchases. Free personalized checks and supplementary cards are offered.

Clients who look into Bank of Nova Scotia credit cards for business may also check the Scotiabank VISA Business Card. They are free to select the right combination of silver and gold credit cards, which are offered in US and Canadian currencies. Cardholders get individual limits for cash advances and credit as to meet their cardholder and business requirements. Silver credit cards are offered with more modest credit limits, while gold cards are featured with international concierge services and comprehensive travel insurance. Benefits include savings and cash back rewards, pricing based on currency and card type, and toll-free support. Simplified expense management is an added benefit through the Scotiabank VISA Business Card program. It helps cardholders streamline administration, consolidate business-related spending, and reduce expenses. Clients enjoy convenient monthly payments through direct debit and have fewer checks to write. Consolidating payments is a good way to reduce account transactions and lower service charges. The CAD program costs $65 CAD for silver cards and $95 CAD for gold cards. With the USD program, silver cards cost $65 and gold cards – $95.

A fourth business card offered by the Bank of Nova Scotia is the Scotiabank Commercial Card. It is a one-card solution to corporate level expense management, small-dollar purchasing, entertainment, and more. This scalable and flexible program can be integrated with future and existing business plans and is fully customized. Business owners can impose merchant restrictions and use spending and transaction limits to control spending at the cardholder level. This card also gives cardholders the opportunity to oversee travel policies and company-wide spending through reports on individual employees, cost centers, or a combination of both. Central billing is another option featured with individual billing and consolidated monthly invoice, or both. The Scotiabank Commercial Card is offered with a number of benefits, including the opportunity to reduce supplier inquiries. This is possible by consolidating invoices into one payment. Cardholders can also analyze the spending patterns of different vendors as to negotiate discounts. In addition, program managers manage business accounts throughout the process – from the initial consultation up to the stage of program implementation. Finally, Scotiabank benchmarks performance through objective and quantitative criteria at regular intervals. This helps cardholders attain cost-effective benefits.

The Commercial Card program of the Bank of Nova Scotia is offered to corporate and commercial clients with sales over $20 million a year. Spending starts from $5 million a year. Commercial credit cards are generally a good choice for corporate entities with geographically dispersed operations, a large number of suppliers, and decentralized buying authority.

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