Here are the three best low-interest credit card offers:
RBC Visa Classic Low Rate Option Card
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.
American Express Essential™ Credit Card
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.
CIBC Select Visa* Card
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 :
- 0% interest on balance transfers for up to 10 months†
- a two-year annual fee rebate†
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.