Discover the top low-interest credit cards in Canada, designed to help you save on interest payments while enjoying valuable rewards and benefits. Compare features, rates, and offers to find the perfect card for your financial needs.
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.
The CIBC Dividend® Visa* Card is one of the best no-fee Visa cashback 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 :
This no-annual-fee CIBC credit card offers certain insurance coverages:
With the American Express Essential™ Credit Card, you can enjoy a low interest rate of 12.99% if you decide to carry a balance and make your minimum monthly payments on time. It is one of the best low-interest-rate credit cards in Canada.
In addition, this low-interest credit card allows you to take advantage of the American Express installment plan (Plan It) to pay a portion of your statement balance in monthly installments.
With the American Express Essential™ Credit Card, you benefit from $100,000 in travel accident insurance, an additional year of Purchase Protection and a 90-day Purchase Security Guarantee.
Finally, as an American Express Essential™ Credit Card holder, you can take advantage of exclusive American Express offers for statement credit on selected purchases and American Express online travel services.
The CIBC Select Visa* Card is one of the best balance transfer Visa credit cards in Canada.
With this exclusive digital offer for this CIBC balance transfer credit card, you get :
You’ll only have to pay a 1% fee when you transfer your balance from another card. Once this promotional period ends, the standard card interest rate of 13.99% will apply to any remaining balance. This interest rate is lower than the rates charged by many other credit cards.
For example, you could pay for major purchases on another credit card (such as renovations, furniture or appliances) and transfer your balance to the CIBC Select Visa* Card to benefit from its 0% interest rate on balance transfers for ten months.
CIBC Select Visa* Card users can also save on gas thanks to the card’s partnership with Journie Rewards, which allows them to save up to 10 cents per litre at participating service stations.
The CIBC Select Visa* Card has an annual fee of $29 (with a two-year annual fee rebate) and requires an annual family income of at least $15,000 to qualify. Despite its lack of additional benefits, the CIBC Select Visa* Card comes with up to $100,000 in Common Carrier Accident Insurance and allows users to add up to three authorized users at no additional cost.
The BMO Preferred Rate Mastercard is a Bank of Montreal credit card that offers:
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.
The RBC Visa Classic Low Rate Option Card is one of the best low-interest credit cards in Canada.
Take advantage of a 0.99% introductory rate on balance transfers for the first 10 months, plus no annual fee for the first year. Offer available for a limited time. Apply by February 26, 2025.
You can also save on fuel at Petro-Canada stations and earn an additional 20% in Petro-Points by linking your RBC Visa Classic with Low Interest Option to your Petro-Points card. Finally, you can get three months of free delivery with DoorDash by linking your RBC Classic Visa with Low Interest Option to your DoorDash account.
Thus, you can get a free three-month subscription to DashPass worth nearly $30 and enjoy unlimited free deliveries on orders of $15 or more when paying with your RBC Visa Classic Low Rate Option Card.
For a limited time, benefit from an annual fee waiver for the first year. Additionally, receive $70 cash back by making at least $5,000 in net purchases during this period. The offer ends on February 27, 2025.
National Bank Syncro Mastercard is a low-interest credit card from National Bank. It offers an interest rate of 9.45% for purchases and 13.45% for cash advances and balance transfers.
Since it is a Mastercard credit card, you can use the National Bank Syncro Mastercard at Costco. Finally, it offers you insurance for your purchases.
The Scotiabank 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% on cash advances for the first ten months (including balance transfers). 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.
With the TD Low Rate Visa* Credit Card, you can save on interest with a low annual interest rate of 12.90%† (13.90%† in Quebec) for Purchases and Cash Advance transactions. It’s one of the best low-interest credit cards in Canada.
For a limited time, you can get an 8.99% promotional interest rate on Purchases for the first 6 months† from Account opening.
As a TD Low Rate Visa* Credit Cardholder, you have the option of purchasing Travel Medical Insurance† and Trip Cancellation/Trip Interruption Insurance†. You can also earn 50% more Stars at Starbucks® locations.
Finally, you can use your TD Low Rate Visa* Credit Card with Apple Pay† or Samsung Pay†.
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.
The low-interest credit card is the payment method of choice for many. According to our experts, there are several reasons for this. Here are some of them.
Do you have high interest credit card debt? Start saving by transferring your debt to a low-interest credit card. That way, you can pay off your debt faster and pay less interest in total.
Do you have several credit cards with different interest rates? Knowing which card to reimburse first can be difficult. Here, a low-interest credit card simplifies the management of your debt, while offering you a single interest rate to pay back.
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.
Do you have high interest credit card debt? Using a low-interest credit card will help reduce this stress. In other words, it allows you to pay off your debt more responsibly.
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:
By following these tips and managing your credit card use wisely, you can avoid paying unnecessary interest and maintain good financial health.
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 over sales from one month to the next.
Low-interest credit cards generally don’t offer rewards. For this, you should opt for one of these credit card offers with rewards(cash back or travel).
You can compare credit card interest rates by visiting card issuer websites, using online comparison tools such as Milesopedia, or requesting information directly from banks and credit unions.
The average interest rate on low-rate credit cards in Canada can vary, but is generally lower than on standard-rate credit cards. Exact rates depend on the issuer and your credit rating.
Some low-interest credit cards in Canada may have an annual fee or foreign transaction fee. It is essential to read the terms and conditions of the contract to understand all associated costs.
Some low-interest credit cards offer benefits such as cash rewards, insurance or loyalty programs, although these may be less generous than those of standard-rate credit cards.
To apply for a low-interest credit card in Canada, you’ll usually 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’ll find the best low-interest credit card offers available today.
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.
Paying off low-interest credit card balances quickly can save you even more on interest. It can also improve your credit rating and help you avoid accumulating debt.
You can find up-to-date information on low-interest credit cards in Canada by visiting card issuer websites, reading online reviews on Milesopedia and in its community. Be sure to check back regularly to stay informed of current offers.
Yes, you can make balance transfers to a low-interest credit card. Be aware of balance transfer fees that may be charged by the credit card issuer, and of the conditions governing balance transfers. Check out the best credit card offers for balance transfers.
Savings are here:
