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Credit Card Rates & Fees
Rates and fees for credit cards.
Last updated: November 2024
Your Scotiabank Mastercard® and Visa® credit cards are subject to certain rates and fees. Information on those rates and fees, which are subject to change, is set out below. All fees quoted are listed in TT Dollars, unless otherwise indicated. The capitalized terms used in this Schedule have the same meanings as are attributed to them in the Scotiabank Credit Card Cardholder Agreement ("Agreement"). This Schedule forms part of that Agreement.
Mastercard®
| Mastercard | Scotiabank Mastercard® |
Scotiabank Gold Mastercard® |
Scotiabank MAGNA Mastercard® |
Scotiabank AERO™ Mastercard® Black | Scotiabank Mastercard® Business Card |
Scotiabank AERO™ Business Executive Mastercard® |
ScotiaLine |
ScotiaLine Gold |
|---|---|---|---|---|---|---|---|---|
| Annual Interest Rate (Financing Charges) - on Purchases & Balance Transfers |
26.79%-27.99% (Effective Dec 9, 2024: 27.79% - 28.99%) |
26.79%-27.99% (Effective Dec 9, 2024: 27.79% - 28.99%) |
26.79%-27.99% (Effective Dec 9, 2024: 27.79% - 28.99%) |
25.20% (Effective Dec 9, 2024: |
25.20% (Effective Dec 9, 2024: |
25.20% (Effective Dec 9, 2024: |
17.25% |
10.50% |
| Effective Annual Interest Rate (EAIR) |
30.34%-31.88% |
30.34%-31.88% |
30.34%-31.88% |
28.32% | 28.32% |
28.32% |
18.68% |
10.75% |
| SelectPayTM Annual Interest Rate |
16% | 16% | 16% | 16% | 16% | 16% | N/A | N/A |
| Annual Membership Fee |
$165.00 (Effective Dec 9, 2024: $180.00) |
$300.00 (Effective Dec 9, 2024: $375.00) |
$225.00 (Effective Dec 9, 2024: $260.00) |
$3,480 ($290 monthly) [Effective Dec 9, 2024: $4,200 ($350 mthly)] |
$200.00 (Effective Dec 9, 2024: $300) |
$625.00 (Effective Dec 9, 2024: $750) |
$400.00 |
$600.00 |
| Supplementary Card Fee |
No Charge |
No Charge |
$100.00 (Effective Dec 9, 2024: $130.00) |
No Charge | $100.00 (Effective Dec 9, 2024: $150.00) |
$100.00 (Effective Dec 9, 2024: $375.00) |
$150.00 |
No Charge |
| Late Payment Fee |
$100.00 |
$100.00 |
$100.00 |
$100.00 | $100.00 |
$100.00 |
$100.00 |
$100.00 |
| Over Limit Charge (Flat Charge Per Each Overrun) | $100.00 |
$100.00 |
$100.00 |
$100.00 | $100.00 |
$100.00 |
$100.00 |
$100.00 |
| Cash Advance Fee ATM** |
3.20% of Amount Withdrawn Min $50.00 |
3.20% of Amount Withdrawn Min $50.00 |
3.20% of Amount Withdrawn Min $50.00 |
3.20% of Amount Withdrawn Min $50.00 |
3.20% of Amount Withdrawn Min $50.00 |
3.20% of Amount Withdrawn Min $50.00 |
No Charge |
No Charge |
| Cash Advance Fee in Branch** |
3.20% of Amount Withdrawn Min $50.00 |
3.20% of Amount Withdrawn Min $50.00 |
3.20% of Amount Withdrawn Min $50.00 |
3.20% of Amount Withdrawn Min $50.00 |
3.20% of Amount Withdrawn Min $50.00 |
3.20% of Amount Withdrawn Min $50.00 |
No Charge |
No Charge |
| Dishonoured/ Returned Cheques |
No Charge | No Charge | No Charge | No Charge | No Charge | No Charge | $50.00 |
$50.00 |
| NSF Cheque Charge |
$50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 | $50.00 |
$50.00 |
| Retrieval of Items |
$60.00 |
$60.00 |
$60.00 |
$60.00 | $60.00 |
$60.00 |
$60.00 |
$60.00 |
| Replacement/ Additional Statement |
$30.00 |
$30.00 |
$30.00 |
$30.00 | $30.00 |
$30.00 |
$30.00 |
$30.00 |
| Replacement Sales Draft |
$60.00 |
$60.00 |
$60.00 |
$60.00 | $60.00 |
$60.00 |
$60.00 |
$60.00 |
| Replacement Damaged/ Lost/ Stolen Card |
$100.00 |
$100.00 |
$100.00 |
$100.00 | $100.00 |
$100.00 |
Not Applicable |
$75.00 |
| Minimum Payment |
3.00% Min $25.00 |
3.00% Min $25.00 |
3.00% Min $25.00 |
3.00% Min $25.00 | 3.00% Min $25.00 |
3.00% Min $25.00 |
2.00 - 3.00%, Min $300 |
2.00 - 3.00%, Min $300 |
| ScotiaLine Gold Cheque Stop Payment Fee |
- | - | - | - | - | - | $35.00 |
$35.00 |
Optional Scotiabank Mastercard®/Visa® Credit Life Protection‡ provides up to $85,000 in coverage with premiums based on the outstanding balance on your previous month’s Scotiabank Mastercard®/Visa® account. No premium is charged if your previous month’s statement was zero. Life Protection: The cost for single Life Protection is $0.29 a month for every $100 of outstanding balance. Life and Critical Illness Protection: The cost for single Life and Critical Illness Protection is $0.53 a month for every $100 of outstanding balance.
VISA®
| VISA | Scotiabank Visa® Classic |
Scotiabank AERO™ Platinum Visa® |
|---|---|---|
| Annual Interest Rate (Financing Charges) - on Purchases & Balance Transfers |
26.79%-27.99% (Effective Dec 9, 2024: 27.79% - 28.99%) |
26.79%-27.99% (Effective Dec 9, 2024: 27.79% - 28.99%) |
| Effective Annual Interest Rate (EAIR) |
30.34%-31.88% |
30.34%-31.88% |
| SelectPayTM Annual Interest Rate |
16% | 16% |
| Annual Membership Fee |
$165.00 (Effective Dec 9, 2024: $180) |
$625.00 (Effective Dec 9, 2024: $700) |
| Supplementary Card Fee |
No Charge |
No Charge |
| Late Payment Fee |
$100.00 |
$100.00 |
| Over Limit Charge (Flat Charge Per Each Overrun) |
$100.00 |
$100.00 |
| Cash Advance Fee ATM** |
3.20% of Amount Withdrawn Min $50.00 |
3.20% of Amount Withdrawn Min $50.00 |
| Cash Advance Fee in Branch** |
3.20% of Amount Withdrawn Min $50.00 |
3.20% of Amount Withdrawn Min $50.00 |
| Dishonoured/ Returned Cheques |
No Charge |
No Charge |
| NSF Cheque Charge |
$50.00 |
$50.00 |
| Retrieval of Items |
$60.00 |
$60.00 |
| Replacement/ Additional Statement |
$30.00 |
$30.00 |
| Replacement Sales Draft |
$60.00 |
$60.00 |
| Replacement Damaged/ Lost/ Stolen Card |
$100.00 |
$100.00 |
| Minimum Payment |
3.00% Min $25.00 |
3.00% Min $25.00 |
Additional terms applicable to all Scotiabank credit card products (Mastercard® and VISA®)
Grace Period: Purchases and Cash Advances
You will benefit from an interest free period of at least 21 days for new purchases and fees, if you pay your statement balance in full by the payment due date shown on your statement. If you do not pay your statement balance in full by the payment due date, you must then pay the interest on all your purchases and fees shown on that month’s statement from the transaction date until we receive your payment for the total amount you owe. There is no interest free period for cash advances. Interest is charged from the day the cash advance is made until we receive your payment for the total amount you owe.
Effective 27-Jun-2022: Cash advance fees will be charged for any credit card transactions involving the purchase of items directly converted to cash (also referred to as quasi-cash/ cash-like transactions) Examples: casino gaming chips, travellers cheques, money orders, wire transfers, foreign exchange trading and gaming including off track, race track and casino gaming.
Annual Interest Rate
The applicable interest rate is established upon approval of your account. You can find your interest rate printed on the materials accompanying your credit card.
Annual Fees
Annual fees are charged on the first day of the month following your account opening (whether or not the card is activated) and annually thereafter on the first day of the same month.
Maximum Annual Interest Rate
If you do not pay at least your minimum payment by the payment due date, we may, at our discretion, increase the interest rate applicable to all new and existing balances up to 27.99%. You will continue to pay the higher rate of interest, until such time as you have paid the minimum monthly payment by the payment due date for six consecutive months. Your interest rate for cash advances will always be 2.5% - 3.0% higher than the current interest rate on your purchases.
Foreign Currency Transactions
Foreign currency transactions† completed using credit cards, will be converted to the local currency at the applicable daily foreign exchange rate. It is important to note that exchange rates fluctuate daily and the applicable FX rates on any day can be viewed on the Bank’s website or obtained via our Branches. The foreign currency conversion will be posted to the credit card account at the time the transaction is processed by the merchant(s), which may not necessarily be on the date the card was used.
Calculating Balance for Purchase and Cash Advances
Two-cycle average daily balance, including new purchases and cash advances.
Minimum Charge for Financing
No minimum charge for financing.
Rates and fees are in effect as of June 13, 2022 and are subject to change at any time.
All charges are inclusive of Financial Services Tax 15% unless stated otherwise. Please note that while the Bank makes every effort to keep charges to a minimum, they are subject to review.
Rates and fees are subject to intermittent review. Changes to terms and conditions, interest rates, fees and charges may be highlighted as follows:
- Notice on website
- Email
The information displayed may not include all retail fees and services charges, only those applicable to standard banking transactions.
You may get all information about the fees and service charges listed above or those not covered by calling our Contact Centre at 62-SCOTIA (627-2684) or visiting your nearest Branch.