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Your Guide to the Best Canadian Credit Cards
In money management and personal finance, keeping track of your credit card debt is crucial for staying financially fit. If you’re in Canada and want to handle your credit card debt better while saving money on interest, you’re in the right place! This article is about the best Canadian credit cards to help you choose a card that aligns with your preferences.
BMO Preferred Rate Mastercard: Your Low-Interest Partner
Experience the perks of BMO credit card offers! Enjoy a competitive 0.99% introductory interest rate on Balance Transfers for an extended 9-month period, accompanied by a 2% transfer fee. Moreover, there’s a waiver for the standard $29 annual fee for the first year. You benefit from the lowest purchase interest rate of 13.99%, making everyday spending more affordable.
| Intro Interest Rates | Balance Transfer Fee | Annual Fee |
| 0.99% promotional balance transfer rate for the first 9 months. Cash advance and balance transfer of 15.99% after 9-month promotion. Has the lowest purchase interest rate of 13.99%. | 2% | $29 annual fee waiver for the first year. |
MBNA True Line Mastercard: The Straightforward Option
Next is the MBNA True Line Mastercard, which provides the lowest rates for balance transfers and eligible purchases at 12.99%. This card has no yearly fee and provides clients with a 0% promotional balance transfer rate for the first 12 months and a 24.99% interest rate on cash advances.
| Intro APR | Balance Transfer Fee | Annual Fee |
| 0% promo balance transfer rate for the first 12 months. 24.99% interest rate on cash advances. | 3% | $0 |
BMO CashBack Mastercard: Get Cash Back on Your Purchases
Experience unparalleled benefits with the BMO CashBack Mastercard! Kickstart your journey with an enticing welcome offer, earning you a generous 5% cash back during your first three months. Beyond the introductory period, enjoy ongoing rewards, including an impressive 1% cash back on recurring bill payments, 3% cash back on grocery purchases, and a consistent 0.5% unlimited cash back on all other purchases. Additionally, take advantage of an attractive 0.99% introductory interest rate on Balance Transfers for a substantial 9-month duration and a 2% fee on transferred balances.
| Intro Interest Rates | Balance Transfer Fee | Annual Fee |
| 0.99% introductory interest rate on Balance transfers for 9 months. | 2% | $0 |
Scotia Momentum No-Fee Visa Card: No Annual Fee and Cash Back
Scotia Momentum, No Visa card, provides an excellent deal for you since you’ll receive 5% cash back on all purchases in the first three months, with a maximum of $2,000 in total spending or purchases. Additionally, there’s a low introductory interest rate of 0.99% for balance transfers during the initial six months. After that, the rate goes up to 22.99%, but there’s no annual fee. Hurry, this offer is valid until 31st October, 2024.
| Intro Interest Rates | Balance Transfer Fee | Annual Fee |
| 0.99% for the first 6 months. 22.99% after the promotion. | 3% | $0 |
Tangerine Money-Back Credit Card: Your Pick for Cash Back
The Tangerine Money-Back Credit Card offers you simplicity. You can get 2% cashback on your preferred categories, from furniture, groceries, hotel stays, entertainment expenses, or home improvement. This card allows you to move your balances within 30 days and enjoy a low 1.95% interest rate on the transferred balance for the initial six months, increasing to 19.95% afterward.
| Intro Interest Rates | Balance Transfer fee | Annual Fee |
| 1.95% for the first 6 months. 19.95% after the promotion | 3% | $0 |
CIBC Select Visa Card: A Simple Card with Rewards
Experience the convenience of 0% interest for a generous 10-month period on balance transfers, complemented by a 1% transfer fee. Additionally, enjoy a partial refund on the annual fee for the first year, ensuring a seamless transition into membership. Enjoy the flexibility of transferring up to 50% of your assigned credit limit while benefiting from the modest $29 annual fee, fully rebated for the initial year. With a competitive interest rate of 13.99% for both purchases and cash advances, the CIBC Select Visa Card offers unparalleled value. Furthermore, take advantage of invaluable insurance coverage, including up to $100,000 of Common Carrier Accident Insurance, providing peace of mind during your travels.
| Intro Interest Rates | Balance Transfer Fee | Annual Fee |
| 0% interest rate for the 10 months. Cash and purchases advances of 13.99% after promotion. | 1% | $29 |
Scotia Value Visa Card
Take advantage of our enticing offer with a 0% introductory interest rate on Balance Transfer for ten months. Following the introductory period, enjoy a competitive interest rate of 12.99% while enabling you to benefit from waived annual fees for the first year, offering unparalleled value and convenience. Seize this opportunity to reduce your interest payments significantly, enabling you to pay down higher rate balances swiftly and efficiently. Don’t miss out on this limited-time offer, ending on October 31, 2024.
| Intro Interest Rates | Balance Transfer Fee | Annual Fee |
| 0% introductory interest rate on Balance Transfer for the initial 10 months. 12.99% interest rate after promotion. | 1% | 0$ first year waived : $29thereafter |
BMO Eclipse Rise Visa Card
Take advantage of our exclusive introductory offer, which features a low 0.99% interest rate on Balance Transfers for the initial nine months and a 2% fee on transferred balances. Elevate your rewards game with the Visa card’s lucrative points system, earning 5 points for every $2 spent on recurring bills, dining, groceries, and takeout while accruing 1 point for every $2 spent on all other purchases.
| Intro Interest Rates | Balance Transfer Fee | Annual Fee |
| 0.99% interest rate on Balance Transfers for the initial 9 months. 23.99% cash and balance transfer after promotion. 20.99% interest rates on purchases. | 2% | $0 |
MBNA True Line Gold Mastercard
Experience peace of mind with this comprehensive credit card offering, featuring a modest $39 annual fee. Benefit from competitive Standard Annual Interest Rates, with 8.99% interest rate on balance transfers, 8.99% on purchases and access cheques, and 24.99% on cash advances. Enjoy around-the-clock fraud protection and access to 24/7 customer service for your convenience.
| Interest Rates | Balance Transfer Fee | Annual Fee |
| 8.99% interest rate on purchases 8.99% interest rate on balance transfers 24.99% interest rates on cash advances | 1% | $39 |
Scotia Momentum for Business Visa Card
Take advantage of this Visa Card introductory offer, featuring a 2.99% interest rate on transfers, Scotia Credit Card Cheques, and cash transactions for the initial six months and a 22.99% interest rate after that. Act fast, as this offer expires on October 31, 2024. Enjoy the benefits of this card with an annual fee of $79 for the primary card and $29 for each supplementary card. Earn generous rewards with 3% cash back on recurring bill payments, restaurant, eligible gas station and office supply store purchases, of a maximum expenditure of $50,000.
| Interest Rates | Balance Transfer Fee | Annual Fee |
| 2.99% interest rate on balance transfers. 22.99% on cash advances. 19.99% interest rates on purchases. | No fee during the promotional period | $79 |
Conclusion
Picking the right credit card can significantly impact how you handle your finances. Each card has its advantages, so it’s worth evaluating them closely to find the best fit for you. With the ideal credit card, you can maximize savings and benefits, paving the way for financial well-being and stability that aligns with your lifestyle.