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

The Scotiabank U.S. Dollar Visa Card is tailored for frequent U.S. travelers or those making regular U.S. dollar purchases. With no foreign currency conversion fees, it offers convenient payment options directly in U.S. dollars. The card has a $35 annual fee and provides essential protections like purchase security and extended warranty coverage, making it ideal for cross-border shoppers. Supplementary cards are available at no extra charge, and cardholders also enjoy savings on car rentals at Avis and Budget.

Rates:

• Purchase APR: 19.99%
• Cash Advance/Balance Transfer APR: 22.99%
• Minimum Credit Limit: $500
• Annual Fee: $35

The Scotiabank U.S. Dollar Visa card offers a standard APR of 19.99% on purchases, with a higher rate for cash advances and balance transfers. A 21-day interest-free period applies on purchases, provided the full balance is paid on time. However, the card is designed to avoid the complications of fluctuating currency exchange rates, making it ideal for U.S. dollar spending.

Rewards:

This card does not offer traditional rewards like points or cashback. Instead, its primary value lies in its no currency conversion fees for purchases in U.S. dollars, ensuring predictable spending when traveling or shopping from U.S. retailers.

Fees:

• Annual Fee: $35
• Supplementary Card Fee: $0
• Foreign Currency Conversion: No fee for U.S. dollar transactions
• Cash Advance Fee: $3.50
• Over-limit Fee: $29

The card has a low annual fee of $35, and supplementary cards are free. While cash advances and over-limit penalties exist, the primary fee-saving feature is the no currency conversion charge for U.S. dollar purchases.

Benefits:

• No Currency Conversion Fee: Avoid conversion fees when making U.S. dollar transactions.
• Car Rental Savings: Up to 25% off base rates at Avis and Budget in the U.S. and Canada.
• Easy Access to U.S. Dollars: Pay your Visa bill directly from a Scotiabank U.S. Dollar account.
• Instant Cash Advances: Available at over 1 million ATMs globally.

Insurance Coverage:

• Purchase Security: Covers theft, loss, or damage to most items purchased with the card, up to 90 days after purchase.
• Extended Warranty: Extends the manufacturer’s warranty by up to 1 year on eligible purchases.
• Optional Credit Protection: Offers financial protection in case of unexpected life events such as disability, critical illness, or job loss.

General Card Overview:

The Scotiabank U.S. Dollar Visa Card is an excellent choice for frequent U.S. travelers or cross-border shoppers. While it lacks traditional rewards, its no currency conversion fee for U.S. dollar purchases is highly beneficial. It also provides basic insurance protections and no fees for supplementary cards, enhancing its value for families or frequent U.S. shoppers.

Pros & Cons:

Pros:

• No currency conversion fee for U.S. dollar purchases
• Free supplementary cards
• Car rental discounts
• Purchase security and extended warranty

Cons:

• No rewards program
• Annual fee of $35
• High APR for cash advances and balance transfers

Best For:

The Scotiabank U.S. Dollar Visa Card is best for Canadians who frequently shop or travel in the U.S., as it eliminates currency conversion fees, providing cost-effective U.S. dollar transactions.

Optimal Spending Behavior:

To maximize this card:

• Use it primarily for U.S. dollar purchases to avoid conversion fees.
• Pay the balance in full each month to avoid high interest rates.
• Take advantage of car rental discounts by booking with Avis or Budget.

Card Comparison:

Final Verdict:

• Rates: 7/10
• Rewards: 4/10
• Benefits: 7/10
• Fees: 8/10
• Overall: 7/10

The Scotiabank U.S. Dollar Visa Card excels in saving users currency conversion fees on U.S. dollar purchases, though it lacks rewards. It’s ideal for frequent U.S. travelers or shoppers.

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.