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Low interest cards offer low permanent interest rates (think 14% and under, compared to the average 20%).

Most of these cards have annual fees – ranging from $20 to $395.

But now BMO is here to give you a little break.

BMO Preferred Rate Mastercard now first year free

One of the best low interest cards in Canada is the .

The card has an annual fee of $20, but now the first year is free.

What interest rates does this card offer?

You’ll get a low permanent interest rate of 12.99% on purchases, cash advances, and balance transfers. It also has an introductory balance transfer offer as well – 3.99% for 9 months.

No, it’s not the best balance transfer offer available right now. But the transfer fee is only 1% – less than the typical 3% most cards charge.

So for a well-rounded, low interest rate card – this FYF offer is a nice plus.