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.
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.