Best Low-Interest Credit Cards | March 2026

The Best Low-Interest Credit Cards – March 2026

This is no secret. Credit card interest rates make a real difference to our budget. This is even more true if you are among those who only pay the minimum amount due at the end of the month on your credit card.

If this is your case, the following lines will catch your attention. In fact, low-interest credit cards are a highly advantageous tool for you. Ultimately, they allow you to bypass known debt traps in Canada.

CIBC Dividend^® Visa* Card

The CIBC Dividend® Visa* Card is one of the best no-fee cash-back Visa credit cards in Canada.

For a limited time, earn 5% cash back (up to 100 $) during the period covered by your first 4 monthly statements.

Plus, get :

2% cash back on eligible grocery purchases^†
1% cash back on eligible gas, electric vehicle charging, transportation, and dining purchases and on eligible recurring payments^†
0.5% cash back on all other purchases^†

This no-annual-fee CIBC credit card offers certain insurance coverages:

Purchase Security and Extended Protection Insurance

American Express Essential™ Credit Card

CIBC Select Visa* Card

The CIBC Select Visa Card* is one of the best Visa credit cards in Canada for balance transfers.

With this exclusive digital offer for this CIBC balance transfer credit card, you get:

a 0% interest rate on balance transfers of at least $100, for up to 10 months
a refund of the annual fee for two years^†

You only pay a 1% balance transfer fee when transferring a balance from another credit card (balance transfer fees do not apply to Quebec residents). Once the promotional period ends, the card’s standard interest rate of 13.99% applies to any remaining balance. This interest rate is lower than those charged by many other credit cards.

For example, you could make large purchases on another credit card (such as renovations or furniture and appliance purchases) and then transfer the balance to the CIBC Select Visa Card to benefit from its 0% interest rate on balance transfers for 10 months.

CIBC Select Visa Card* cardholders can also save on gas through the card’s partnership with Journie Rewards, which allows them to save up to 10 cents per litre at participating gas stations.

The CIBC Select Visa Card* has a $29 annual fee (refunded for the first two years) and requires a minimum household income of $15,000 to qualify. With CIBC mobile banking and online banking services, you can easily track your credit limit and balance transfers from your phone or by signing in online.

BMO^® Preferred Rate Mastercard^®*

The BMO Preferred Rate Mastercard is a Bank of Montreal credit card that offers a 0.99% introductory interest rate on Balance Transfers for 9 months.

There is no minimum income requirement for this BMO credit card.

You can use this low-interest credit card at Costco because it is a Mastercard credit card.

Finally, you’ll receive insurance on purchases charged to your BMO Preferred Rate Mastercard.

RBC Visa Classic Low Rate Option Card

Enjoy a promotional interest rate of 0.99% on balance transfers for the first 10 months, and pay no annual fee for the first year. Submit your application by March 25, 2026.

RBC Visa Classic Low Rate Option Card is one of the best low-interest credit cards in Canada.

You can also save on fuel at Petro-Canada stations and get 20% more Petro-Points by linking your RBC Visa Classic Low Rate Option Card to your Petro-Points program card. Finally, you get free deliveries for six months with DoorDash by adding your RBC Visa Classic Low Rate Option Card to your DoorDash account.

This way, you can get a free six-month DashPass subscription worth nearly $60 and enjoy unlimited free deliveries on orders of $15 or more by paying with your RBC Visa Classic Low Rate Option Card.

National Bank Syncro Mastercard

The National Bank Syncro Mastercard is a low-interest credit card from National Bank. It offers an interest rate of 8.90% for purchases and 12.90% for cash advances and balance transfers.

Since it’s a Mastercard credit card, you can use National Bank Syncro Mastercard at Costco. Finally, it offers you insurance for your purchases.

Scotiabank Value^® Visa* Card

Scotia Value Visa Card is one of the best credit cards for cash advances (including balance transfers) in Canada.

You can get an introductory interest rate of 0.99% on cash advances for the first nine months (including balance transfers, with a 2% transfer fee). You pay no annual fee for the first year with this Visa credit card.

What’s more, this Visa credit card offers a low interest rate: 13.99% on purchases, balance transfers and cash advances.

TD Low Rate Visa* Credit Card

The TD Low Rate Visa* Credit Card allows you to save with an annual interest rate of 12.90%^† (13.90%^† in Quebec) on purchases and cash advances.

With the current promotional offer, enjoy a 0% rate on your purchases for the first six months^† after account opening. It is one of the best low-rate credit cards in Canada.

As a cardholder, you can subscribe to travel medical insurance^†, trip cancellation/interruption insurance^†, and earn 50% more Stars at Starbucks®.

The card is also compatible with Apple Pay^† and Samsung Pay^†.

Frequently asked questions about low-interest credit cards

What is a low-interest credit card?

Comme son nom l’indique, cette carte vous fait profiter d’un taux d’intérêt plus bas que le taux standard. Au Canada, elle représente un moyen de paiement privilégié par les consommateurs.

En général, elle propose des taux d’intérêt inférieurs à 12 %. Voilà une option plutôt avantageuse pour les personnes qui remboursent le minimum dû de leur solde par mois.

Par ailleurs, certaines cartes de crédit à faible taux d’intérêt offrent des options supplémentaires très intéressantes. Ici, on parle de points de fidélité, d’assurances gratuites et d’autres éléments qui peuvent correspondre à notre profil d’acheteur. C’est pourquoi nous conseillons toujours de magasiner les meilleures cartes de crédit sur le marché avant d’arrêter votre choix!

Consultez les meilleures offres de transfert de solde de carte de crédit.

Why use a low-interest credit card in Canada?

A low-interest credit card is a preferred payment method for many. According to our experts, there are several reasons for this. Here are some of them.

Save money

Do you have high-interest credit card debt? Start saving by transferring your debt to a low-interest credit card. This way, you could pay off your debt faster and pay less interest in total.

Better debt management

Do you have multiple credit cards with different interest rates? Knowing which card to reimburse first can be difficult. In this case, a low-interest credit card simplifies your debt management while offering a single interest rate to repay.

Better financial management

Indeed, a low-interest credit card helps you better manage your budget and cash flow. For example, it educates you to spend responsibly and not to exceed your credit limit. That way, you know you’ll pay less interest on your debt.

Less financial stress

Do you have high-interest credit card debt? Using a low-interest credit card will help you reduce that stress. In other words, it allows you to pay off your debt more responsibly.

How can I avoid paying interest on my credit card?

To avoid paying interest on a credit card, it’s essential to understand how your card’s billing and repayment system works. Here are some tips on how to avoid interest charges on your credit card:

Pay the full balance each month: The surest way to avoid interest is to pay your credit card balance in full each month before the due date. This means you do not carry an unpaid balance from one month to the next, and therefore will not accumulate interest.
Know the exp iry date: Make sure you know the expiry date of your credit card. Payments must be made by this date to avoid interest and late fees.
Avoid cash advances: Cash advances on your credit card are generally subject to high interest rates from day one. It’s best to avoid using your card for cash advances if possible.
Use credit wisely: Use your credit card responsibly and avoid spending beyond your means. Don’t rely on your credit card for purchases you can’t afford to pay for in full on your next billing.
Choose a low-interest card: If you intend to carry a balance on your credit card, consider choosing a low-interest credit card. This will reduce interest costs in the event of balance deferral.
Set up payment alerts: Many credit card issuers offer alert services that remind you of your payment due date. Use them so you don’t forget to pay on time.
Avoid minimum payments: While paying the minimum payment saves you from late fees, it doesn’t prevent you from accruing interest. Try to pay more than the minimum if you can’t repay the full balance.
Read the terms and conditions: Familiarize yourself with the terms of your credit card agreement to understand interest rates, fees, and billing policies.
Manage transferred balances: If you perform a balance transfer to benefit from a promotional interest rate, ensure you comply with the offer’s conditions. Timely payments are generally required to maintain the promotional rate.

By following these tips and managing your credit card use wisely, you can avoid paying unnecessary interest and maintain good financial health.

Why should I choose a low-interest or low-rate credit card in Canada?

Choosing a low-interest credit card can help you save money on interest when you carry an unpaid balance. This can be useful if you plan to carry balances from one month to the next.

Is a low-interest credit card similar to a rewards credit card?

Generally, low-interest credit cards do not offer rewards. For this, you should opt for one of these credit card offers with rewards (cash back or travel).

How can I compare credit card interest rates in Canada?

You can compare credit card interest rates by visiting issuer websites, using online comparison tools like Milesopedia, or by requesting information directly from banks and credit unions.

What is the average interest rate on low-rate credit cards in Canada?

The average interest rate on low-interest credit cards in Canada can vary, but it is generally lower than that of standard-rate credit cards. Exact rates depend on the issuer and your credit score.

Are there any hidden fees associated with low-interest credit cards and certain conditions to be met?

Some low-interest credit cards in Canada may have annual fees or foreign transaction fees. It is essential to read the terms and conditions of the contract to understand all associated costs.

Do low-interest credit cards offer additional benefits?

Some low-interest credit cards offer benefits such as cash back rewards, insurance, or loyalty programs, although these benefits may be less generous than those of standard-rate credit cards.

How can I apply for a low-interest credit card in Canada?

To apply for a low-interest credit card in Canada, you will generally need to complete an application online or in person with the card issuer. Make sure you provide all the required information and meet the eligibility criteria.

Higher up on this page, you will find the best low-interest credit card offers currently available.

Who is eligible for a low-interest credit card in Canada?

Eligibility for a low-interest credit card in Canada depends on factors such as your credit score, income, financial history, and other criteria determined by the card issuer.

What are the advantages of paying off low-interest credit card balances quickly?

Paying off balances on a low-interest credit card quickly allows for even greater savings on interest. It can also improve your credit rating and help you avoid accumulating debt.

Where can I find up-to-date information on low-interest credit cards in Canada?

You can find updated information on low-interest credit cards in Canada by visiting issuer websites, reading online reviews on Milesopedia, and participating in its community. Be sure to check back regularly to stay informed of current offers.

Can I transfer my balance to a low-interest credit card?

Yes, you can perform balance transfers to a low-interest credit card. Be mindful of balance transfer fees that may be charged by the credit card issuer and the terms and conditions related to balance transfers. Check out the best credit card offers for balance transfers.

CIBC Dividend® Visa* Card