Top 4 – Best credit cards for balance transfers – July 2026

Here are our 4 best credit card offers for balance transfers:

BMO Preferred Rate Mastercard^®*

The BMO^MD Preferred Rate Mastercard^MD* is an excellent option for those who want to reduce interest charges or pay off a balance faster.

With this offer, you get a 0% introductory interest rate on balance transfers for 18 months, with a 2% transfer fee and no annual fee for the first year.

The card also offers one of BMO’s lowest interest rates, at 13.99% on purchases, which may be appealing if you occasionally carry a balance on your card.

With the BMO^MD Preferred Rate Mastercard^MD*, you also get:

Extended warranty insurance and purchase protection insurance*
The option to add another cardholder for free*
Zero Liability Protection, which protects you against unauthorized transactions*
A card accepted at more than 30 million merchants worldwide*
Three months of Instacart+ membership plus a $5 monthly Instacart credit with an eligible 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.

MBNA True Line^® Mastercard^® credit card

The MBNA True Line^® Mastercard^® credit card is one of Canada’s best options for a low-cost balance transfer. It’s ideal for reducing interest charges and consolidating your debts onto one card.

With this card, you benefit from a 0% interest rate for 12 months on balance transfers made within 90 days of account opening. Transfer fees are a competitive 3%.

This card offers fraud protection, guaranteeing the security of your transactions.

If you want to transfer balances from high-rate cards, the MBNA True Line^® Mastercard^® credit card allows you to benefit from a 0% rate and pay off your debts at your own pace without high-interest charges during the promotional period.

In short, the MBNA True Line^® Mastercard^® credit card is an excellent choice for reducing debt and optimizing balance transfers.