Compared to the standard 19.99% APR or more on most cards, any offers in the 0% to 3.99% range may be worth your while.Ģ. Balance Transfer Rate: What is the introductory rate being offered? A 0% rate is best when it is available. Here are some of the factors to consider before getting a balance transfer credit card:ġ. How To Choose a Balance Transfer Credit CardĪs with all things credit, you should always read the fine print. the regular 19.99% for 6 months or longer. The best offers available here range anywhere from 0% to 3.99%.Ī balance transfer can save you hundreds of dollars in interest payments. While 0% balance transfer offers are plentiful in the U.S., in Canada, they are rare. The low-rate offer on balance transfer cards is only available for a promotional period…usually from 6-12 months. Balance transfer cards may allow you to consolidate other personal loans and lines of credit as well. It is not only credit card debt you can transfer. Read this BMO Air Miles Mastercard review for more details.īest Balance Transfer Credit Cards in Canada Summary Credit CardĪ balance transfer credit card is a card that allows you to move your outstanding high-interest balance from other credit cards to it at a lower or 0% interest rate. Get up to 20% off admission to Cirque du Soleil shows.Get up to a 25% discount when you rent a car at participating Alamo Rent A Car and National Car Rental locations.Extended warranty and purchase protection.Collect twice the Miles at participating retailers when you use this credit card and show your Air Miles card.Earn 2 Miles for every $25 spent at eligible grocery stores.Earn 3 Miles for every $25 spent at participating Air miles locations.Other benefits of the BMO Air Miles Mastercard: It offers 0.99% balance transfers for nine months, and after the promotional period ends, a 22.99% rate applies.Īlso, expect to pay up to 2% in balance transfer fees. The BMO Air Miles Mastercard is great for collecting Air Miles while also saving on interest fees. Balance transfer offer: 0.99% for nine months.Read my complete BMO Cash Back Mastercard review.ĪPPLY FOR THIS CARD 5. Get 15% to 20% off admission to Cirque du Soleil shows in Canada and Las Vegas.Get a 25% discount at National Car Rental and Alamo Rent A Car locations.Purchase protection and extended warranty.Redeem cash back for a statement credit, deposit it into your BMO chequing or savings account, or put it into your InvestorLine account.Earn 3% back on groceries, 1% back on recurring bills and 0.50% back on everything else (The 3% and 1% cash back offers are limited to a maximum of $500 spending per month per category).A 2% balance transfer fee applies.Īfter the promotional period, the balance transfer rate goes up to 22.99%. The BMO Cash Back Mastercard is a top-rated card that combines cash back offers with a low balance transfer rate of 0.99% for 9 months. Standard interest rate: 20.99% purchases and 22.99% cash advances.Balance transfer offer: 0.99% introductory rate for 9 months.Read my complete review of the Scotiabank Value Visa card.ĪPPLY FOR THIS CARD 4. This credit card comes with no insurance coverage, but you can choose to add Scotia Credit Card Protection for an additional fee. Scotiabank also offers Scotia SelectPay, where purchases over $100 can be paid for in monthly installments with no interest rates and low fees. Interestingly, the Scotiabank Value Visa has a 0% balance transfer fee during the promotional period, which makes it even more attractive.Ĭardholders can get up to a 25% discount on car rentals at participating Budget and AVIS locations. The Scotiabank Value Visa card is Scotiabank’s popular balance transfer card and offers a 0.00% interest rate for six months.Īfter the promotional period ends, a 12.99% rate applies to purchases, cash advances, and balance transfers. Balance transfer offer: 0.00% for 6 months.Annual fee: $29 (waived in the first year).Read my Tangerine Money-Back Card review.ĪPPLY FOR THIS CARD 3. 0.50% cash back on all other purchases.10% promotional cash back for a limited time ($100 value).2% cash back in up to three categories of spending, including groceries, gas, drugstore, entertainment, hotel/motel, recurring bill payments and more.The Tangerine Money-Back Card offers many other benefits: After the promotional rate period ends, a 19.95% interest rate kicks in. The Tangerine Cash Back Mastercard is a no-fee card that offers unlimited cash back on your everyday purchases and a 1.95% promotional balance transfer rate for 6 months.Ī 3% balance transfer fee applies to each of your balance transfer amounts. Balance transfer offer: 1.95% for 6 months.Here are the best low-rate balance transfer cards in Canada right now. Does a Balance Transfer Credit Card Hurt Your Credit Score? Best Balance Transfer Credit Cards in Canada
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