--> --> Best Low Interest Credit Cards in Canada for 2025 | creditcardGenius --> --> -->   App Exclusive: $150 GeniusCash on a card with unreal cash back! Download Now × 5 Hello! Sign In $150 Cash Back Compare Credit Cards Compare Credit Cards Compare Credit Cards Find Your Credit Card Quick Compare Top Credit Card Deals No Fee First Year Free Credit Card Quiz By Type Rewards Low Interest Balance Transfer Business Student Prepaid By Rewards Cash Back Travel Air Miles Aeroplan Store Grocery Reviews American Express Cobalt: Award-Winning. Limit-Pushing. Unmatched. BMO Ascend World Elite: Travel Rewards Reach New High American Express Gold Rewards: Your Ticket to Luxury TD® Aeroplan® Visa Infinite: Your Best Card for Air Canada Perks MBNA Rewards World Elite: Canada's Best Kept Secret BMO AIR MILES®† Mastercard: Groceries today. Getaways tomorrow. GeniusCash credit cards = more cash in your pocket! 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Thanks to the addition of numerous perks and benefits, the MBNA True Line Mastercard is the best low interest credit card in Canada. Still, there are plenty of other valuable options, including the Scotiabank Value Visa Card and Desjardins Flexi Visa . If you're in the market for one, look for credit cards with low interest rates that don’t charge high annual fees in exchange for their low purchase rates. Here, we walk you through the ins and outs of each of the top low interest options so you can choose a card that’s best for your financial situation. Key Takeaways Average interest rates on normal credit cards are around 20%. You can save over 10% on interest by getting a low interest credit card. The best low interest credit card is the MBNA True Line Mastercard. Remember that paying off your card in full is always preferable to carrying a balance – but a low interest card can help you reduce interest charges if you need to carry a balance. In this article Show table of contents Best low interest credit cards What is a low interest credit card? How much you can save How credit card interest works When does a low interest credit card make sense? FAQ Best low interest credit cards for 2025 If you're looking for an excellent low interest credit card in Canada, this table has everything you need to know to save big money on interest. Category Credit card Interest rate Current welcome offer Best low interest credit card MBNA True Line Mastercard * 12.99% on purchases * 24.99% on cash advances * 17.99% on balance transfers $20 GeniusCash + 0% interest on balance transfers for 12 months ( terms ) Best Visa Scotiabank Value Visa Card * 13.99% * 13.99% on cash advances * 13.99% on balance transfers 0.99% interest on balance transfers for 9 months ( terms ) Best for balance transfers BMO Preferred Rate Mastercard * 13.99% * 15.99% on cash advances * 15.99% on balance transfers 0.99% interest on balance transfers for 9 months ( terms ) Best for earning rewards Scotiabank American Express Platinum Card * 9.99% * 9.99% on cash advances * 9.99% on balance transfers Up to 60,000 80,000 bonus points ( terms ) Best for premium perks Desjardins Odyssey Visa Infinite Privilege * 11.9% on purchases * 12.90% on cash advances * 12.90% on balance transfers None Best low interest card for excellent credit RBC Visa Classic Low Rate Option * 12.99% on purchases * 12.90% on cash advances * 12.90% on balance transfers None Best with no annual fee Desjardins Flexi Visa * 10.9% on purchases * 12.90% on cash advances * 12.90% on balance transfers None Best secured card Home Trust Secured Visa (Low Rate) * 14.9% on purchases * 19.80% on cash advances * 19.80% on balance transfers None Best for no frills CIBC Select Visa Card * 13.99% on purchases * 13.99% on cash advances * 13.99% on balance transfers 0% interest on balance transfers for 10 months ( terms ) Best for business CIBC bizline Visa Card for Small Business * 6.45%-17.95% on purchases * 6.45%-17.95% on cash advances * 6.45%-17.95% on balance transfers None 1. Best low interest credit card in Canada MBNA True Line ® Mastercard ® 4.2 Genius Rating 2.9 (12) User reviews ×2 Award winner $20 GeniusCash + 0% on balance transfers for 12 months (3% fee) + No annual fee. * Annual fee $0.00 Learn more Annual rewards $0 ◊ Learn more Annual savings $1,551 ◊ GC Ends: Nov 30, 2025 GC: $20 I Want This Deal Learn More Instant approval: Yes Credit estimate: MBNA True Line ® Mastercard ® GC: $20 4.2 Genius Rating 2.9 (12) User reviews 2x Award winner $20 GeniusCash + 0% on balance transfers for 12 months (3% fee) + No annual fee. * Annual fee $0.00 Learn more Annual rewards $0 ◊ Learn more Annual savings $1,551 ◊ GC Ends: Nov 30, 2025 Credit estimate:  (660 - 724) I Want This Deal Learn More Instant approval: Yes Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Show More Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Pros: Excellent balance transfer offer – 0% for 12 months Lower regular interest rates of 12.99% on purchases No annual fee Cons: 3% transfer fee on balance transfers Higher rates of 17.99% on balance transfers and 24.99% cash advances No rewards on purchases The MBNA True Line Mastercard is hands-down the best low-interest credit card in Canada with a low permanent interest rate of 12.99% on purchases. Plus, it has a balance transfer offer of 0% for 12 months. To save the most on interest with this card, consider using it for balance transfers. After paying off your balance, you’ll continue to benefit from low interest rates on purchases, helping you stay on top of your monthly payments. 2. Best low interest Visa card Scotiabank Value Visa Card 4.1 Genius Rating 1.8 (5) User reviews Annual fee $29.00 $0 1st year waived Annual rewards $0 ◊ Learn more Annual savings $1,129 ◊ Learn more Apply Now Learn More Scotiabank Value Visa Card 4.1 Genius Rating 1.8 (5) User reviews Annual fee $29.00 $0 1st year waived Annual rewards $0 ◊ Learn more Annual savings $1,129 ◊ Learn more Credit estimate:  (760 - 900) Apply Now Learn More Instant approval: Yes Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Show More Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Pros: Reduced interest rate of 13.99% on purchases, cash advances, and balance transfers Low annual fee of $29, waived for the first year Worldwide acceptance as a Visa card Cons: No rewards on purchases Limited insurance coverage included If you’re loyal to Visa, you’ll want to check out the Scotiabank Value Visa Card . This card comes with a solid balance transfer introductory rate of 13.99% for 9 months and low permanent interest rates of 13.99%, making it a good option for paying off existing credit card debt. You can also add an additional cardholder for free. 3. Best low interest credit card with a permanent balance transfer offer BMO Preferred Rate Mastercard ® * 3.7 Genius Rating 3.6 (7) User reviews 0.99% on balance transfers for 9 months + Very low interest rates. * Annual fee $29.00 Learn more Annual rewards $0 ◊ Learn more Annual savings $1,117 ◊ Learn more Apply Now Learn More Instant approval: Yes Credit estimate: BMO Preferred Rate Mastercard ® * 3.7 Genius Rating 3.6 (7) User reviews 0.99% on balance transfers for 9 months + Very low interest rates. * Annual fee $29.00 Learn more Annual rewards $0 ◊ Learn more Annual savings $1,117 ◊ Learn more Credit estimate:  (560 - 659) Apply Now Learn More Instant approval: Yes Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Show More Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Pros: Low purchase interest rate of 13.99% Good balance transfer offer Low annual fee of $29 per year, waived the first year Cons: Balance transfer interest rate higher than other cards No rewards on purchases Higher cash advance interest rate The BMO Preferred Rate Mastercard will help you pay off your debt faster with a balance transfer offer of 0.99% for 9 months, plus an annual fee waiver for your first year with the card. While previous cards on our list also had low balance transfer offers, they were limited offers. This card, however, comes with a low permanent rate, which gives you peace of mind if you think you’ll want to transfer other credit card balances at any point in the future. 4. Best low interest card to earn rewards Scotiabank American Express ® Platinum Card 3.2 Genius Rating 2.8 (5) User reviews Annual fee $399.00 Learn more Annual rewards $480 ◊ 80,000 Scene+ points Annual savings $800 ◊ Offer Ends: Jan 1, 2026 Apply Now Learn More Scotiabank American Express ® Platinum Card 3.2 Genius Rating 2.8 (5) User reviews Annual fee $399.00 Learn more Annual rewards $480 ◊ 80,000 Scene+ points Annual savings $800 ◊ Offer Ends: Jan 1, 2026 Credit estimate:  (660 - 724) Apply Now Learn More Instant approval: Yes Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Show More Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Pros: Low purchase interest rate of 9.99% 12 types of travel insurance 10 free lounge passes No foreign exchange fees Cons: Annual fee of $399 Lower acceptance as American Express The Scotiabank American Express Platinum Card is the most well-rounded card of this group. In addition to low purchase interest rates, it earns rewards, offers amazing perks like insurance and lounge passes (ten of them!), and charges no foreign exchange fees. It also has something else that isn’t common among low interest cards: rewards. You’ll earn Scene+ points at a rate of 2 points per $1 spent on all purchases, which you can redeem for movie tickets, travel, groceries, restaurants, and more. 5. Best low interest card for premium perks Desjardins Odyssey Visa Infinite Privilege 2.0 Genius Rating 4.3 (14) User reviews Annual fee $395.00 Learn more Annual rewards $528 ◊ Learn more Annual savings $647 ◊ Learn more Learn More Desjardins Odyssey Visa Infinite Privilege 2.0 Genius Rating 4.3 (14) User reviews Annual fee $395.00 Learn more Annual rewards $528 ◊ Learn more Annual savings $647 ◊ Learn more Credit estimate:  (760 - 900) Learn More Instant approval: No Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Show More Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Pros: Low permanent interest rate of 11.9% 9 types of insurance 12 yearly passes to the Desjardins Odyssey Lounge Discounts at select airports and ski resorts Visa Infinite Privilege benefits Cons: High annual fee of $395 High income requirements of $150,000 personal or $200,000 household No welcome bonus While the Desjardins Odyssey Visa Infinite Privilege has a high annual fee, it also comes with some of the most luxurious rewards on our list. You’ll get a fantastic earn rate of up to 4% back on every purchase, plus enjoy permanently low rates and rewards that make up for the annual fee. You’ll also receive Visa Infinite Privilege benefits, including 24/7 Visa Infinite Concierge Service, and Visa hotel, dining, and entertainment benefits. 6. Best low interest card for excellent credit TD Low Rate Visa * Card 3.6 Genius Rating 5.0 (1) User reviews Annual fee $25.00 Learn more Annual rewards $0 ◊ Learn more Annual savings $567 ◊ Learn more Apply Now Learn More TD Low Rate Visa * Card 3.6 Genius Rating 5.0 (1) User reviews Annual fee $25.00 Learn more Annual rewards $0 ◊ Learn more Annual savings $567 ◊ Learn more Credit estimate:  (560 - 659) Apply Now Learn More Instant approval: Yes Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Show More Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Pros: Low interest rates of 12.9% across the board Cons: No rewards on purchases Limited insurance included Annual fee of $25 The TD Low Rate Visa Card offers a permanently low rate of 12.9% – but for a limited time, you’ll get an even lower rate of 8.99% for the first 6 months (terms and conditions apply). The downsides include a small annual fee, no rewards, and limited insurance. You’ll also need a high credit score to be approved for this card. 7. Best no fee low interest card Desjardins Flexi Visa 4.2 Genius Rating (0) Write your review Annual fee $0.00 Learn more Annual rewards $0 ◊ Learn more Annual savings $727 ◊ Learn more Learn More Desjardins Flexi Visa 4.2 Genius Rating (0) Write your review Annual fee $0.00 Learn more Annual rewards $0 ◊ Learn more Annual savings $727 ◊ Learn more Credit estimate:  (760 - 900) Learn More Instant approval: Yes Rewards Details & Eligibility Genius Rating User Reviews Show More Rewards Details & Eligibility Genius Rating User Reviews Pros: Low purchase interest rate of 10.9% 12.9% interest on balance transfers and cash advances No annual fee Cons: No rewards on purchases No promos or welcome bonuses Physical branches limited to Ontario and Quebec With the Desjardins Flexi Visa , you'll get a basic card with an excellent interest rate of 10.9% on purchases. It also includes mobile device insurance up to $1,000 for any device you purchase using the card. While it’s a pretty bare-bones card beyond this, the low interest rates and no annual fee make it a solid contender for a spot in your wallet. 8. Best low interest secured card Home Trust Secured Visa (Low Rate) 2.6 Genius Rating 1.0 (2) User reviews Annual fee $59.00 Learn more Annual rewards $0 ◊ Learn more Annual savings $407 ◊ Learn more Apply Now Learn More Home Trust Secured Visa (Low Rate) 2.6 Genius Rating 1.0 (2) User reviews Annual fee $59.00 Learn more Annual rewards $0 ◊ Learn more Annual savings $407 ◊ Learn more Credit estimate:  (300 - 559) Apply Now Learn More Instant approval: No Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Show More Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Pros: Lower purchase interest rate of 14.9% Near-guaranteed approval Credit limit equivalent to your security deposit Helps you build credit and improve your score Cons: $59 annual fee No rewards on purchases $500 minimum security deposit As a secured credit card , this is a great option for those who have been turned away from other banks. The Home Trust Secured Visa (Low Rate) offers nearly guaranteed approval with one of the lowest interest rates for secured credit cards. Sure, there are no rewards and you’ll pay a small annual fee – but you’ll also be able to improve your credit score to eventually qualify for a better card. In the meantime, enjoy the low interest rates. 9. Best no frills low interest card CIBC Select Visa * Card 4.2 Genius Rating 1.4 (5) User reviews Rates & fees See rates 1st year waived Annual rewards $0 ◊ Learn more Annual savings $1,319 ◊ Learn more Apply Now Learn More CIBC Select Visa * Card 4.2 Genius Rating 1.4 (5) User reviews Rates & fees See rates 1st year waived Annual rewards $0 ◊ Learn more Annual savings $1,319 ◊ Learn more Credit estimate:  (560 - 659) Apply Now Learn More Instant approval: Yes Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Show More Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Pros: 0% on balance transfers for 10 months 13.99% regular interest rate Save up to 10 cents per litre at Journie gas stations Cons: No rewards Limited insurance included Annual fee of $29 When we say no frills, we mean it: the CIBC Select Visa Card is as stripped down as you can get. While you won’t get any rewards or even a lot of insurance coverage, you will get a fantastic 0% balance transfer offer and a low regular interest rate of just 13.99%. The card does have a modest annual fee of $29 but it’s currently rebated for your first two years with the card. 10. Best low interest business card CIBC bizline Visa Card for Small Business 4.3 Genius Rating (0) Write your review Rates & fees See rates Learn more Annual rewards $0 ◊ Learn more Annual savings $643 ◊ Learn more Learn More CIBC bizline Visa Card for Small Business 4.3 Genius Rating (0) Write your review Rates & fees See rates Learn more Annual rewards $0 ◊ Learn more Annual savings $643 ◊ Learn more Credit estimate:  (760 - 900) Learn More Instant approval: Yes Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Show More Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Pros: Variable interest rate of prime + 1.5% – currently 6.2% Up to nine additional cardholders No annual fee Cons: No rewards on purchases Minimal insurance (only basic travel coverage) Car rental discounts The CIBC bizline Visa Card for Small Business offers businesses the best purchase interest rate (just 6.2%) and the ability to add up to 9 additional cardholders. Plus, you can use CIBC’s CreditSmart budgeting tool to manage your business expenses. You also have the option to register your card with Visa SavingsEdge, which unlocks automatic savings when you purchase electronics, business expenses, or travel. Compare all low interest credit cards Sort by Genius Rating Annual Fee Interest Rate Interest Savings Sort cards by: Genius Rating Annual Fee Interest Rate Interest Savings Scotiabank American Express ® Platinum Card 3.2 Genius Rating 2.8 (5) User reviews Annual fee $399.00 Learn more Annual rewards $480 ◊ 80,000 Scene+ points Annual savings $800 ◊ Offer Ends: Jan 1, 2026 Apply Now Learn More Scotiabank American Express ® Platinum Card 3.2 Genius Rating 2.8 (5) User reviews Annual fee $399.00 Learn more Annual rewards $480 ◊ 80,000 Scene+ points Annual savings $800 ◊ Offer Ends: Jan 1, 2026 Credit estimate:  (660 - 724) Apply Now Learn More Instant approval: Yes Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Show More Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons MBNA True Line ® Mastercard ® 4.7 Genius Rating 2.9 (12) User reviews ×2 Award winner $20 GeniusCash + 0% on balance transfers for 12 months (3% fee) + No annual fee. * Annual fee $0.00 Learn more Annual rewards $0 ◊ Learn more Annual savings $1,551 ◊ GC Ends: Nov 30, 2025 GC: $20 I Want This Deal Learn More Instant approval: Yes Credit estimate: MBNA True Line ® Mastercard ® GC: $20 4.7 Genius Rating 2.9 (12) User reviews 2x Award winner $20 GeniusCash + 0% on balance transfers for 12 months (3% fee) + No annual fee. * Annual fee $0.00 Learn more Annual rewards $0 ◊ Learn more Annual savings $1,551 ◊ GC Ends: Nov 30, 2025 Credit estimate:  (660 - 724) I Want This Deal Learn More Instant approval: Yes Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Show More Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons CIBC Select Visa * Card 4.2 Genius Rating 1.4 (5) User reviews Rates & fees See rates 1st year waived Annual rewards $0 ◊ Learn more Annual savings $1,319 ◊ Learn more Apply Now Learn More CIBC Select Visa * Card 4.2 Genius Rating 1.4 (5) User reviews Rates & fees See rates 1st year waived Annual rewards $0 ◊ Learn more Annual savings $1,319 ◊ Learn more Credit estimate:  (560 - 659) Apply Now Learn More Instant approval: Yes Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Show More Rewards Details & Eligibility Genius Rating User Reviews Pros & Cons Awards are given out once a year but rating and rankings can shift throughout the year. The #1 card for 2025 is pinned to the top. Show More Cards How we get our rankings We take into account over 126 features of each card, broken down into seven main categories. But here, we're looking to save you the most money on credit card interest so our Genius Ratings are solely based on interest rates and fees – nothing more. Learn more about our Genius Rating methodology What is a low interest credit card? Any kind of credit card can be considered a low interest credit card if its purchase rate is below the national average , which is currently around 20%. Some of the lowest interest rates we found hovered around 10% to 14%, which saves you between 6% and 10% on your interest charges if you carry a credit card balance . This might not seem like a lot, but it can add up to thousands of dollars in savings depending on the balance on your card. Keep in mind that it’s possible to find cards with even lower promotional rates; some might even offer 0% interest. Read the terms of these cards carefully since the interest rates often jump once the promotional period is over. How much can you save with a low interest credit card? The amount you could save depends on your current interest rate and credit card balance. For example, if you had a balance of $9,000, you could see savings of up to $990 over the course of a year by switching to a credit card with lower interest – and even more if you take advantage of a balance transfer offer. With this (and some thoughtful spending habit changes), you could see your balance paid off significantly faster. Use our credit card interest calculator to see how much you’re paying in interest – and how much you could save with a low interest credit card. Credit Card Interest Calculator Current Balance $ Monthly Payment $ Current Rate 20 20% New Rate 20 20% Months to pay balance: 25 Total paid: $ 2,453.20 Interest paid: $ 453.20 Interest savings: $ 0.00 How credit card interest works If you spend on credit and don’t pay it off at the end of the billing cycle, the lender (that is, your credit card issuer) charges credit card interest – it’s the cost of borrowing money . To determine how much to charge you, lenders calculate interest daily based on the balance you owe. Most lenders give you a grace period of around 21 days after a purchase before interest starts accruing. If you don’t pay the balance in full, interest is calculated from the date of the purchase. What is a credit card interest rate? The exact amount of interest you’re charged depends on the type of transaction. Read your card’s terms and conditions to see the percentage of interest charged on each type. Types of interest rate What it is Rates Interest-free grace period Purchase rate The interest charged for the balance of purchases you’ve made 6.95% – 30.99% 21 to 55 days Cash advance rate The interest charged on money you withdraw from an ATM that’s taken from your card’s credit limit 22.99% – 27.99% None Balance transfer rate The interest charged on the existing balance that you move to a new credit card 0% – 17.99% None Remember: Interest can add up quickly and if you only make minimum credit card payments , your debt can snowball. To avoid paying interest, try to pay your credit card balance in full every month. Fixed rate vs. variable rate interest When you sign up for a credit card, the terms and conditions will tell you whether it’s a fixed-rate or variable-rate card: Fixed-rate credit cards have interest rates that don't change. The rate is determined when you're issued the card and it will stay the same unless the issuer decides to change the rates of the credit card as a whole. Variable rate credit cards have interest rates that change over time. An example of this is the National Bank Syncro Mastercard . It's tied to the current prime rate and will go up and down as the prime rate fluctuates. How to reduce credit card interest Although you don’t have much of a say in setting your card’s interest rate, you can take steps to avoid paying more in interest. Implement a few or all of these strategies to keep more money in your pocket: Pay off your credit card in full: Most credit cards issue a billing statement every month with a minimum payment listed. Instead of just making the minimum payment (which will leave you paying interest), pay off the entire balance. If you can’t pay it in full, make as large of a payment as you can afford. Be mindful when using your credit card: Some people find that only using a credit card for specific purchases, like big-ticket items or categories that earn them rewards, makes it easier to stay on top of their balance. Set up automatic payments: If you tend to forget when payment is due, sign up for automatic payments – just ensure there’s enough in your chequing account to cover the bill. Negotiate interest rates with your lender: If you’re unhappy with your card’s high interest rate, contact your bank’s customer service. You might explain that you’ve been a loyal customer for so many years, or that you’re trying to pay down debt and want to know what interest offers are available. Most banks are keen to work with their customers on balance repayment. Combatting the rise of credit card debt It’s no secret that credit card debt is on the rise— average debt amounts are going up every year and experts agree that there’s no easy end in sight. As Ted Michalos, Licensed Insolvency Trustee, notes, "These numbers signal a deterioration in household finances across income levels." Fellow insolvency trustee Doug Hoyes attributes this rise to higher interest rates and unsustainable levels of inflation, which are forcing more people to use their credit cards for everyday expenses. This, in turn, increases balances and interest payments, pushing them further into the cycle of debt. Low interest credit cards can help alleviate this cycle. Since your balance will accrue less interest, more of your monthly payments will go towards paying down the principal debt, rather than merely treading water in a sea of interest. When does a low interest credit card make sense? You’ve probably heard it a million times: you should pay off your credit card in full every month. However, we know even the best intentions don’t always work out. That’s why a low interest credit card doesn’t make sense for everyone. Who should get a low interest credit card? A low-interest card can also make sense if you’re consolidating or paying down existing debt. For instance, if you have three credit cards with 24.99% interest rates, you might transfer their balances to a low interest card so you’re only making one payment (and paying a lot less in interest). We should point out that since these cards have low interest rates, they don’t tend to offer great rewards. That said, if you want to have a stable interest rate that won’t jump up after a promo period ends, a low interest credit card might be right for you. How to apply for a low interest credit card? Applying for a low interest credit card follows the same process as applying for a standard credit card from a bank, fintech, or credit union. It does help to know your credit score before you begin, so you can see which cards you’re eligible for. Once you’ve picked a card you want (and meet the qualifications for), gather the required documents and information. This includes details on your annual income, current employment, other credit products, etc. Find the application online, fill it out, and submit (either online or with a printed copy). All that's left is to await the issuer’s decision. FAQ What is the best credit card with low interest? The MBNA True Line Mastercard is the best credit card with low interest, charging just 12.99% on all purchases and 17.99% on balance transfers. It’s a no annual fee credit card, which makes it even more appealing. Which bank credit card is best and has the lowest interest rate? The Scotiabank American Express Platinum Card is the best card issued by a bank with the lowest interest rate. You’ll only be charged 9.99% interest for purchases, balance transfers, and cash advances – along with other valuable perks. What is a good interest rate for a credit card? Most credit cards charge between 19.99% and 22.99% for purchases, so rates below that are considered good. For example, low-interest rate cards often have interest rates ranging from 8.99% to 15.99%. Which credit card has the longest 0% interest rate? Only one card on our list of low interest rate cards has a promotional 0% interest rate: the MBNA True Line Mastercard comes with zero interest for 12 months. However, there's also a balance transfer fee to consider. How do I lower my credit card interest rate? If you’ve made significant improvements to your credit score , you can always try asking your credit card issuer to take a look at your account and lower your interest rate, or work with them to negotiate a payment schedule. Do balance transfers hurt your credit? Transferring the balance from one card to another won’t harm your credit, but your score might temporarily take a hit when you apply for a new card since credit card issuers do hard credit checks when reviewing your application. More best pages Show table of contents Cash back Travel Balance transfer Insurance No FX fees People's Choice Grocery Gas Editorial Disclaimer : The content here reflects the author's opinion alone. No bank, credit card issuer, rewards program, or other entity has reviewed, approved, or endorsed this content. For complete and updated product information please visit the product issuer's website. Our credit card scores and rankings are based on our Rating Methodology that takes into account 126+ features for each of 227 Canadian credit cards. About creditcardGenius creditcardGenius is a smart credit card matchmaker that compares 126+ features of 227+ credit cards, with objective ratings, rankings and reviews. 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Resources Review Your Card Credit Card FAQ Sliders Credit Card Quiz Company About Careers Scholarship Disclosure Help Contact GeniusCash Report Bug   Privacy Policy | Terms | Security Province: Alberta British Columbia Manitoba New Brunswick Newfoundland and Labrador Nunavut Northwest Territories Nova Scotia Ontario Prince Edward Island Quebec Saskatchewan Yukon Copyright © 2025 WeyMedia Inc. 200 Champlain St. Suite 210, Dieppe, NB E1A 1P1 ◊ The creditcardGenius algorithm, based on our Rating Methodology , calculates an estimated dollar value for all rewards and bonuses by combining typical monthly spending with well-researched reward point value estimates . "Annual Rewards" is calculated by combining our default $2,000 in monthly spending ($24,000 annually) spread across 8 different spending categories (gas, groceries, travel, etc) with our point value estimates. "Welcome Bonus" is calculated by combining all one-time bonuses available to new cardholders within the first year with our point value estimates. To qualify for the full bonus you may need to make purchases, meet minimum spending requirements, or complete special actions. "Annual Interest Savings" is based on a credit card balance of $8,000 and a standard credit card interest rate of 19.99%. Annual Rewards, Welcome Bonus, and Annual Interest Savings values will change if the person adjusts their monthly spending away from the $2,000 monthly default or changes their reward preferences. *, † Terms and conditions apply. Your feedback matters What do you think of creditcardGenius? Needs work It's ok It's great! Disclosure creditcardGenius receives a referral fee for some credit cards listed; however, our comprehensive and math-based algorithm solely dictates the results of our rating system. Our ratings and rankings are strictly independent of compensation. 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