credit card balance transfer

The Best Balance Transfer Credit Cards in Canada – August 2021

The Best Balance Transfer Credit cards

These credit cards have a low-interest rate for purchases or balance transfers.

Check out this post on balance transfer, to learn more about this technique.

Here is a table summarizing the different offers.

Credit card Balance transfer offer Annual fee
MBNA True Line® Mastercard® (Non-Quebec Residents)
0% for 12 months $0
CIBC Select Visa* Card 0% for 10 months $29 ($0 for the first year)
BMO® AIR MILES® MasterCard® 1.99% for 9 months $0
BMO® Rewards® Mastercard®* 1.99% for 9 months $0
BMO® CashBack® Mastercard®* 1.99% for 9 months $0
Scotiabank® Value VISA Card 0.99% for 6 months $0
Tangerine Money-Back Credit Card 1.95% for 6 months $0

For more details, read on or click on the name of a card.

MBNA True Line® Mastercard® (Non-Quebec Residents)

The MBNA True Line® Mastercard® (Non-Quebec Residents) is one of the best balance transfer Mastercard credit cards in Canada.

With this Card, you get 0% interest on balance transfers for your first 12 months. Plus, you pay no annual fee.

CIBC Select Visa* Card

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

With this Card, you get 0% interest on balance transfers for your first 10 months. You’ll only have to pay a 1% fee when you transfer your balance from another card.

Currently, you get a first-year annual fee rebate (a $29 value)!

And this card has valuable insurance:

  • $100,000 Common Carrier Accident Insurance

BMO® AIR MILES® MasterCard®

With this exclusive offer for the BMO® AIR MILES® Mastercard®*, you earn 1,500 AIR MILES Bonus Miles after $1,000 in Card purchases, representing a $150 cash value. Besides, it’s a no-annual-fee credit card.

With the BMO® AIR MILES® Mastercard®*, you get 3x the Miles for every $25 spent at participating AIR MILES Partners. And 1 mile for every $25 you spend, Costco included.

And until May 31, 2021, you earn 5x AIR MILES Reward Miles on groceries at Sobeys, Safeway, Foodland & Participating Co-op’s, Urban Fresh, Thrifty Foods, IGA, Les Marchés Traditions and Rachelle Béry.

You can also get a 1.99% introductory interest rate on Balance Transfers for 9 months (1% fee applies to balance amounts transferred).

BMO® CashBack® Mastercard®*

The BMO® CashBack® Mastercard®* is a cash back credit card with no annual fee.

With this card, you can get 5% cash back in your first 3 months. It’s a maximum welcome bonus of $100.

Then you get:

  • 3% cash back on grocery purchases, including at Walmart Supercenters
  • 1% cash back on recurring bill payments

Finally, you can also get a 1.99% introductory interest rate on Balance Transfers for 9 months.

BMO® Rewards® Mastercard®*

The BMO® Rewards® Mastercard®* is one of the best no-annual-fee credit cards in Canada.

For a limited time, you can earn 10,000 points as a welcome bonus.

And you can also get a 1.99% introductory interest rate on Balance Transfers for 9 months.

Scotiabank® Value VISA Card

The Scotiabank® Value Visa Card is one of the best balance transfer credit cards in Canada.

You can get a 0.99% introductory interest rate on balance transfers for the first 6 months.

Besides, this credit card offers low-interest-rate: 12.99% on purchases and cash advances.

Tangerine Money-Back Credit Card

The Tangerine Money-Back Credit Card has no annual fee and offers cashback.

Until August 16, 2021, you can earn an extra 10% cash back (up to $100) when you spend up to $1,000 in everyday purchases within your first 2 months.

You can choose two to three categories of purchases (grocery, gas, furniture, home improvement, recurring bill payments, drug store, etc.) to earn 2% cashback! And with unlimited annual cashback!

Besides, the Tangerine Money-Back Credit Card comes with additional benefits:

  • 90 days purchase insurance
  • One year extended warranty

Finally, during your first 30 days, transfer balances and pay only 1.95% interest on the transferred balance for the first 6 months.

Frequent Asked Questions about credit cards

Here are frequently asked questions in the milesopedia community about credit cards in Canada.