The grace period is the number of days between the statement date on your monthly statement and your payment due date. New purchases have a minimum 21-day interest-free grace period. That means if we receive payment of your balance in full on or before the payment due date, you won’t pay interest on those new purchases that appeared on your statement for the first time.

The grace period applies to purchases and certain fees, not cash advances (including balance transfers, cash-like transactions or Scotia credit card cheques). Your Revolving Credit Agreement (for Scotiabank Amex or Visa cards) or Scotiabank Mastercard Momentum Credit Card Agreement (for Scotiabank Mastercards) has more information about grace periods and how we charge interest.