Best low interest credit cards in Canada
Low interest credit cards ranked by what a year of carrying a balance costs: interest at the purchase rate plus the annual fee.
Card details updated November 9, 2026 How we rank
Not sure which kind of card you need? Help me choose
11 low interest credit cards, ranked for you
Ranked by what it costs a year to carry $3,000: interest plus the annual fee. How we rank
-
Ranked 1. TD Emerald Flex Rate Visa
TD · Visa Expert Score 7.7 out of 10. Good
Cost to carry $3,000 $294Purchase rate 8.95%- Annual fee
- $25 a year
- Interest on $3,000
- $269 a year at 8.95%
Income rule not listed
Loading the details…
The details didn’t load. See the full review
-
Ranked 2. National Bank Syncro Mastercard
National Bank · Mastercard Expert Score 7.6 out of 10. Good
Cost to carry $3,000 $302Purchase rate 8.9%- Annual fee
- $35 a year
- Interest on $3,000
- $267 a year at 8.9%
Income rule not listed
Loading the details…
The details didn’t load. See the full review
-
Ranked 3. Desjardins Flexi Visa
Desjardins · Visa
Cost to carry $3,000 $327Purchase rate 10.9%- Annual fee
- $0 No annual fee
- Interest on $3,000
- $327 a year at 10.9%
Income rule not listed
Loading the details…
The details didn’t load. See the full review
-
Ranked 4. Laurentian Bank Visa Reduced Rate
Laurentian Bank · Visa Expert Score 6.6 out of 10. Fair
Cost to carry $3,000 $405Purchase rate 12.49%0.99% for 6 months on balance transfers (2% fee)
- Annual fee
- $30 a year
- Interest on $3,000
- $375 a year at 12.49%
Income rule not listed
Loading the details…
The details didn’t load. See the full review
-
Longest 0% balance transfers
Move a balance and pay less interest while you clear it.
-
BMO® Preferred Rate Mastercard®
0% for 18 months
3% transfer fee. Then 15.99%.
-
CIBC Select Visa Card
0% for 10 months
3% transfer fee. Then 13.99%.
-
Scotiabank Value® Visa Card
0% for 9 months
1% transfer fee. Then 13.99%.
-
-
Ranked 5. RBC Visa Classic Low Rate Option
RBC · Visa Expert Score 7.1 out of 10. Good
Cost to carry $3,000 $410Purchase rate 12.99%1.9% for 10 months on balance transfers
- Annual fee
- $0 first year Then $20 a year
- Interest on $3,000
- $390 a year at 12.99%
Income rule not listed
Loading the details…
The details didn’t load. See the full review
-
Ranked 6. American Express Essential™ Credit Card
American Express Expert Score 7.6 out of 10. Good
Cost to carry $3,000 $415Purchase rate 12.99%- Annual fee
- $25 a year
- Interest on $3,000
- $390 a year at 12.99%
Needs $15,000 personal income
Loading the details…
The details didn’t load. See the full review
Read the full review: American Express Essential™ Credit Card
-
Ranked 7. Scotiabank Value® Visa Card
Scotiabank · Visa Expert Score 8.4 out of 10. Very good
Cost to carry $3,000 $449Purchase rate 13.99%0% for 9 months on balance transfers (1% fee)
- Annual fee
- $0 first year Then $29 a year
- Interest on $3,000
- $420 a year at 13.99%
Needs $12,000 personal income
Loading the details…
The details didn’t load. See the full review
-
Ranked 8. CIBC Select Visa Card
CIBC · Visa Expert Score 8.2 out of 10. Very good
Cost to carry $3,000 $449Purchase rate 13.99%0% for 10 months on balance transfers (3% fee)
- Annual fee
- $0 first year Then $29 a year
- Interest on $3,000
- $420 a year at 13.99%
Income rule not listed
Loading the details…
The details didn’t load. See the full review
-
Ranked 9. BMO® Preferred Rate Mastercard®
BMO · Mastercard Expert Score 7.9 out of 10. Good
Cost to carry $3,000 $449Purchase rate 13.99%0% for 18 months on balance transfers (3% fee)
- Annual fee
- $0 first year Then $29 a year
- Interest on $3,000
- $420 a year at 13.99%
Needs $15,000 personal income
Loading the details…
The details didn’t load. See the full review
-
Ranked 10. Home Trust Secured Visa Card
Home Trust · Visa Expert Score 7.5 out of 10. Good
Cost to carry $3,000 $659Purchase rate 19.99%- Annual fee
- $59 a year
- Interest on $3,000
- $600 a year at 19.99%
Approval is easier with a deposit
Loading the details…
The details didn’t load. See the full review
-
Ranked 11. Desjardins Odyssey Visa Infinite Privilege
Desjardins · Visa Expert Score 7.8 out of 10. Good
Cost to carry $3,000 $752Purchase rate 11.9%- Annual fee
- $395 a year
- Interest on $3,000
- $357 a year at 11.9%
Needs $150,000 personal or $200,000 household income
Loading the details…
The details didn’t load. See the full review
Read the full review: Desjardins Odyssey Visa Infinite Privilege
Showing 11 of 11 cards
Filters
Your spending a month
Your balance
How we rank cards
The list is math only: one set of rules, worked out for the choices you made.
What Year one and Every year mean
Year one is what a card is worth in its first year at your spending: the rewards it earns, plus any welcome offer your spending would reach, minus the first year’s annual fee.
Every year after leaves out the welcome offer and takes off the full annual fee, so a big offer can’t hide a weak earn rate.
We rank by the one you pick. When two cards come out the same, the one with the higher score goes first. Values are estimates, rounded to the dollar.
What’s in each spending choice
Each choice is an example month of spending, split across the kinds of spending cards reward differently. Pick the one closest to yours.
- Light, $1,000 a month: Groceries $400, restaurants $100, gas $100, recurring bills $100, everything else (base rate) $250, foreign currency $50
- Typical, $2,500 a month: Groceries $800, restaurants $250, gas $250, recurring bills $250, travel $150, everything else (base rate) $650, foreign currency $150
- Big, $5,000 a month: Groceries $1,200, restaurants $500, gas $400, recurring bills $400, travel $500, everything else (base rate) $1,600, foreign currency $400
How we value points
Each points program gets one value per point, taken from the program’s own valuation. Cards in the same program use the same value, so two cards that earn the same points are judged the same way.
- Aeroplan: 2 cents a point
- American Express Membership Rewards: 1.7 cents a point
- BMO Rewards: 0.67 cents a point
- British Airways Club: 2 cents a point
- Cathay Asia Miles: 1.5 cents a point
- CIBC Aventura: 1 cents a point
- Desjardins BONUSDOLLARS: 100 cents a point
- Flying Blue: 1.9 cents a point
- Marriott Bonvoy: 0.8 cents a point
- moi Rewards: 0.8 cents a point
- More Rewards: 0.2 cents a point
- National Bank a la carte Rewards: 0.9 cents a point
- PC Optimum: 0.1 cents a point
- RBC Avion: 1.7 cents a point
- Scene+: 1 cents a point
- TD Rewards: 0.5 cents a point
- Triangle Rewards: 100 cents a point
- United MileagePlus: 1.6 cents a point
- VIPorter: 1.5 cents a point
- WestJet Rewards: 1 cents a point
A card whose points we can’t value yet shows its points and sorts after the cards we can value.
What Low interest adds up
Low interest ranks by what a year of carrying a balance would cost: interest at the card’s purchase rate, plus the annual fee. It assumes the balance stays the same all year and leaves out rewards and welcome offers.
A balance transfer offer shows on the card when it has one, but it doesn’t change the order.
Does pay change the order?
No. The order comes only from the math above. We get paid when you apply through some links, and a bank can pay to show a card in a spot marked Sponsored. Pay never moves a card in the ranked list or changes its score.
Help me choose
Four quick questions, then a list that fits. Your answers only set the list. We don’t keep them.
Show the questions as a form
Help me choose
Mr. Loonie is typing
Which kind of card fits you?
Start with what you want the card to do. Each one has its own ranked list.
- Cash back Good if you want money off your bill with no points to learn. Watch for the top rate usually covering a few kinds of spending, often with a yearly cap.
- Travel points Good if you fly at least once a year and will use points for flights. Watch for higher annual fees. Points are worth less on merchandise.
- No annual fee Good if you spend under about $1,500 a month or want a backup card. Watch for lower earn rates and fewer insurance perks.
- Balance transfer Good if you have card debt to pay down over several months. Watch for a transfer fee and the regular rate once the promo ends.
- No foreign fee Good if you shop in US dollars or travel outside Canada. Watch for an annual fee on most of them. The fee you save abroad can cover it.
- New to Canada Good if you’ve just arrived and have no Canadian credit history yet. Watch for lower limits at first. Some need a Canadian bank account or a deposit.
- Build credit Good if you’re rebuilding your credit after missed payments. Watch for the deposit, which sets your limit. Rewards are small or none.
- Students Good if you’re in school with little or no income. Watch for low limits. Pay on time and the card builds your history.
Cards by bank
Cards by network
Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. Values are estimates for the spending you picked, rounded to the nearest dollar.
Spot something wrong? We’ll check it with the bank. Suggest a correction