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.
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
You can earn an additional 15% cash back (up to $150) when you spend up to $1,000 on everyday purchases in the 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.
What is the best credit card in Canada?
There are more than 200 credit cards in Canada. There is no “one best credit card” in Canada.
Several credit cards can match your needs:
What is the best American Express credit card in Canada?
There are more than 30 American Express credit cards in Canada. Check out our best American Express Credit Cards page.
What is the best Mastercard credit card in Canada?
There are more than 90 Mastercard credit cards in Canada. Check out our Best Mastercard Credit Cards page.
What is the best Visa credit card in Canada?
There are more than 80 Visa credit cards in Canada. Check out our Best Visa Credit Cards page.