Balance Transfer and Low-Interest Credit Cards in Canada
Moving card debt to a lower rate, and what it really costs.
If you carry a balance, interest costs more than any reward earns. This hub is for Canadians paying down card debt who want to know whether a balance transfer or a low-interest card will actually lower the cost.
The guides show the total cost of a transfer, including the fee, the promotional rate, the rate after the promotion ends, and what happens to new purchases. Terms come from the issuer's own page with the date checked, and examples use labelled balances.
For a full payoff plan, including consolidation loans and consumer proposals, see the debt payoff hub in Budgeting & Saving.
What this hub helps you decide:
- Will a balance transfer actually save me money?
- What does the transfer fee cost?
- What happens when the promotional rate ends?
- Is a low-interest card or a loan cheaper?
Updated November 2026 · 1 guide by Andrew
Start here
New to credit cards? Read the overview first: Best Credit Cards in Canada for 2026: Picks by Spending Profile.
All Balance Transfer & Low-Interest Cards guides
Best Balance Transfer Credit Cards in Canada (2026)
As of October 30, 2026, four issuer pages state balance-transfer promos: CIBC Select (0%, 10 months, 1% fee), Scotiabank Value (0%, 9 months, 1%), MBNA True Line (0%, 12 months, 3%) and Tangerine (1.95%, 6 months, 1%). On a $5,000 example, the fee mattered more than the longest clock.