Pros & cons
Pros
- Low interest rates.
- Includes travel insurance.
- No supplemental card fee.
Cons
- Only available in Alberta.
- Annual fee of $30.
- No rewards earned on purchases.
Your rewards
How you earn rewards
This card does not earn rewards on purchases.
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2x Award Winner
Details and eligibility
- Estimated Credit Score
- 725 - 759
- Personal Income
- N/A
- Household Income
- N/A
- Annual Fee
- $30.00
- Extra Card Fee
- $0
- Card type
- Credit
- Purchase
- 12.99%
- Cash Advance
- 12.99%
- Balance Transfer
- 12.99%
Insurance coverage
- Travel Accident
- $100,000
- Baggage Delay
- $300
Please review your insurance certificate for details, exclusions and limitations of your coverage, terms and conditions apply.
Learn more about the value of credit card insurance coverage.
Genius Rating
Servus Low Rate Mastercard's 2.1 Genius Rating is based on the weighted average of the following scores:
Methodology
All scores are produced by our math-based rating algorithm that takes into account over 126 credit card features.
Top cards from Mastercard
GC: $150
GC: $20
GC: $20
Servus Low Rate Mastercard review
The Servus Low Rate Mastercard is a low interest credit card that boasts a purchase interest rate of 12.99%. This is much lower than the 20% average for most other Canadian credit cards, which means you’ll save lots of money if you’re carrying a credit card balance.
Of course, there's an annual fee to pay and this card isn't right for everyone. Here's our full review of the card, as well as an alternative option for those who don't qualify.
Pros of the Servus Low Rate Mastercard
The biggest upside of the Servus Low Rate Mastercard is that it's got a lower interest rate than the typical card.
1. Low interest rate
Paying 12.99% on your Servus Low Rate Mastercard's balance is better than paying 20% on an ordinary card. If you anticipate not being able to pay off your credit card in full, this can be a serious perk – you'll save a lot in interest charges.
Its balance transfer rate (12.99%) and cash advance rate (12.99%) are also better than average, meaning you can port an existing balance on a high-interest-rate card over or withdraw cash from an ATM without getting dinged so hard.
2. Basic travel insurance
The Servus Low Rate Mastercard also comes with 2 types of insurance:
- Travel accident
- Baggage delay
These may prove handy when you're going on vacation – and having any kind of insurance is a nice bonus for a low interest credit card. These cards often don’t include insurance at all.
3. No supplemental card fee
If your partner needs a supplementary credit card, there are no fees associated with getting one.
Cons of the Servus Low Rate Mastercard
The Servus Low Rate Mastercard has 2 main drawbacks.
1. Only available to Alberta residents
The biggest caveat to getting a Servus credit card is that they're only offered in Alberta. There are no physical branches elsewhere, either.
2. $30 annual fee
There's an annual fee of $30 that comes with the card, which isn’t helpful if you're trying to save money on interest. That said, you can get up to 25% of the annual fee returned to you as a member of the credit union, which will save you $7.50.
3. No rewards
Because this card focuses on saving you money on interest, there are no rewards to be had. If you've paid off your balance and want rewards, consider switching to something that will offer you points or cash back.
Comparison to another low interest credit card
We'll compare the Servus Low Rate Mastercard with one of the best low interest credit cards, the MBNA True Line Mastercard.
| Servus Low Rate Mastercard | MBNA True Line Mastercard | |
|---|---|---|
| Purchase interest rate | 12.99% | 12.99% |
| Cash advance rate | 12.99% | 24.99% |
| Regular balance transfer rate | 12.99% | 17.99% |
| Balance transfer promo rate | None | 0% for 12 months (3% fee) |
| Annual fee | $30 | $0 |
| Other features | * 2 types of insurance | *  $20 GeniusCash |
The rates for everything are better with the Servus Low Rate Mastercard, but you'll be expected to shell out an annual fee of $30 to get them. It’s up to you to decide which card saves you more money over time.
The other big thing that the MBNA True Line Mastercard has going for it is its incredible balance transfer promo. You can save a massive amount of money on this if you're able to pay your entire balance off within a year. This is what has made it the winner of best balance transfer credit card in Canada for so many years.
×7 Award winner GC: $20
7x Award winner What are your thoughts on the Servus Low Rate Mastercard?
You can save some money on interest charges with this Servus credit card, but would you go for it? Do you have one?
Leave a review to share your thoughts!
FAQ
Can you only get the Servus Low Rate Mastercard in Alberta?
Yes, the Servus Low Rate Mastercard is only available to residents of Alberta.
Does the Servus Low Rate Mastercard offer any benefits?
The Servus Low Rate Mastercard has 2 types of insurance (travel accident and baggage delay) to go along with its low interest rate.
Does the Servus Low Rate Mastercard charge any fees?
Yes, there is an annual fee of $30 for the Servus Low Rate Mastercard. 25% of it can be rebated to you as a member of the credit union.
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