Best Low Interest Credit Cards in Canada
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Low interest credit cards offer reduced interest rates compared to standard cards, which typically charge 19.99% or more. If you occasionally carry a balance, a low interest card can save you significant money on interest charges. Here are the best low-interest options in Canada.
Top 3 Cards
MBNA True Line Mastercard
MastercardMBNA · No annual fee
0% intro rate on balance transfers
Pros
- +No annual fee
- +Low regular interest rate of 12.99%
- +Balance transfer promotional offers
Cons
- –No rewards or cashback
- –No travel perks
Scotiabank Value Visa Card
VisaScotiabank · $29/year
Pros
- +Very low interest rate (12.99%)
- +Low annual fee ($29)
- +Accessible to fair credit
Cons
- –No rewards at all
- –$29 annual fee
CIBC Select Visa Card
VisaCIBC · $35/year
Pros
- +Low interest rate (13.49%)
- +Balance transfer promotional rates
- +Accessible credit requirements
Cons
- –No rewards
- –$35 annual fee
Quick Comparison
| Card | Annual Fee | Network | Groceries | Gas | Dining | Travel | Welcome Bonus | |
|---|---|---|---|---|---|---|---|---|
| MBNA True Line Mastercard | No annual fee | mastercard | —x | —x | —x | —x | 0% intro rate on balance transfers | Apply |
| Scotiabank Value Visa Card | $29/year | visa | —x | —x | —x | —x | — | Apply |
| CIBC Select Visa Card | $35/year | visa | —x | —x | —x | —x | — | Apply |
How We Chose These Cards
We evaluated low interest cards based on their regular interest rates, annual fees, and whether the savings from lower interest outweigh any fees charged.
We rank cards based on category fit, fees, and commonly used perks. Learn more about our methodology.
Frequently Asked Questions
Related Resources
Offers and terms can change. Always confirm details on the issuer's website before applying. We are not a bank.