Scotia U.S. Dollar Visa Card

The Scotiabank U.S. Dollar credit card has no U.S. dollar currency conversion fee. While it doesn’t offer major benefits, it can be advantageous for frequent travelers to the U.S. or for those who make online purchases in U.S. dollars as it helps in saving currency exchange fees.

Card Summary:

The credit card has a $35 annual fee, and there is no charge for each supplementary card. The purchase rate is 19.99%, and the rate for cash advances and balance transfers is 22.99%. The minimum credit limit for this card is $500.

Rewards Summary:

• N/A

Benefits Summary:

Enjoy fee-free currency conversion when using U.S. dollars. Additionally, take advantage of discounts on car rentals when booking with Avis & Budget.

Insurance Summary:

• Purchase Security
• Extended Warranty

Editor’s Review: Scotia U.S. Dollar Visa Card

Overview:

The Scotia U.S. Dollar Visa Card is a specialized financial product aimed at frequent travelers to the U.S. and those who regularly make online purchases in U.S. dollars. Its standout feature is the absence of U.S. dollar currency conversion fees, which can be a significant cost-saving advantage for the right user. However, this card doesn’t come with a plethora of rewards or high-end perks.

Card Summary:

• Annual Fee: $35
• Supplementary Cards: No charge
• Purchase Rate: 19.99%
• Cash Advances & Balance Transfers Rate: 22.99%
• Minimum Credit Limit: $500

Rewards Summary:

• N/A: This card does not offer a rewards program. It is purely a tool for saving on currency conversion fees.

Benefits Summary:

• Currency Conversion Savings: The primary benefit of this card is the fee-free currency conversion when making transactions in U.S. dollars. This can be particularly beneficial for frequent U.S. travelers or those who shop online from U.S. retailers.
• Car Rental Discounts: Cardholders can enjoy discounts on car rentals when booking with Avis and Budget, adding a small but useful perk for travelers.

Insurance Summary:

• Purchase Security: Protects most new items purchased with the card against theft or damage.
• Extended Warranty: Extends the original manufacturer’s warranty for an additional year.

Pros:

• No U.S. Dollar Conversion Fee: Ideal for those who often spend in U.S. dollars, whether traveling or shopping online, as it saves the typical 2.5% to 3% conversion fee.
• Low Annual Fee: At $35, the annual fee is modest, especially considering the potential savings on currency conversion fees.
• Supplementary Cards: No additional cost for supplementary cards, making it economical for family use.

Cons:

• No Rewards Program: Unlike many credit cards that offer points, cashback, or other rewards, this card provides no such benefits.
• High Interest Rates: With a 19.99% purchase rate and a 22.99% rate for cash advances and balance transfers, carrying a balance on this card can be costly.
• Limited Additional Benefits: Aside from the currency conversion savings and car rental discounts, this card doesn’t offer many extra perks.

Conclusion:

The Scotia U.S. Dollar Visa Card is a practical choice for a niche audience—primarily those who frequently travel to the U.S. or make substantial online purchases in U.S. dollars. The main selling point is the elimination of currency conversion fees, which can result in significant savings. However, for those seeking robust rewards or premium benefits, this card may fall short. Its value is primarily in its simplicity and specific cost-saving feature rather than in offering a broad range of benefits.

View other Scotiabank Credit Cards.

View other U.S. Dollar Credit Cards.

Disclaimer: Refer to the credit card official web page for the latest up to date rates, terms, and conditions. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute professional and/or financial advice.