The credit limit is disclosed on your disclosure statement and then on your statements for your credit card account. The credit limit is the maximum amount you can borrow under a credit card account that is set by your card issuer. Alternatively, you can visit our credit card interest rates page for current interest rates for all our products. The annual interest rate on cash advances is disclosed on the disclosure statement for your credit card account. The annual interest rate on cash advances on your credit card account will apply to any cash advances (including balance transfers, cash-like transactions and Scotia credit card cheques) and on any fees that apply to them. Interest is charged from the transaction date until we receive your payment in full. There is no interest-free grace period on cash advances (including on any fees that apply to them). Note: While you can’t use a balance transfer offer to pay another Scotiabank credit product, you can transfer funds as a cash advance and a cash advance fee may apply. If we offer you a balance transfer offer, you can request us to transfer funds from another credit product you have at another financial institution to your Scotiabank credit card account. A balance transfer is a transaction where funds (money) from one credit card account are transferred, at your request, to pay a balance on another credit account.Īt Scotiabank, we will not allow you to use a balance transfer offer to pay another Scotiabank credit product including another Scotiabank credit card or Scotiabank line of credit account. You can get a cash advance when you use your credit card account (including using your card) to access money from your credit card account through an ABM, at a Scotiabank branch, by telephone, online or through a mobile device, or by using a Scotia credit card cheque.Ī balance transfer is also considered a cash advance.
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