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Low Interest Credit Cards

Low interest rate credit cards are generally the best choice for people who carry a balance.
Best Credit Cards in Category Interest
Rate		 Annual
Fee		 Credit
Required		 Apply
Card MBNA - Gold MasterCard® - Fixed 9.99% AIR

9.99% Annual Interest Rate on Purchases and Cash Advances

 9.99% $0 Good Credit Apply
Card Capital One - Gold MasterCard®: 11.9% Guaranteed for 3 Years

Enjoy the certainty of a low long-term rate of 11.9% on purchases and balance transfers guaranteed for 3 years (as long you pay your bills on time)

 11.90% $19 Good Credit Apply
Card Capital One - SmartLine™ Platinum MasterCard

Enjoy our lowest long-term rate of 5.99% on purchases and balance transfers guaranteed for 3 years (as long you pay your bills on time)

5.99% $0 Excellent Credit Apply
Card Capital One - Low Rate Guaranteed Secured MasterCard®

Guaranteed Approval

14.90% $69 Establish Credit Apply
Card Capital One - Low Rate Guaranteed MasterCard®

Low rate on purchases and balance transfers

14.90% $79 Needs Improvement Apply
Card MBNA - CAA Quebec MasterCard

Earn $.02 per litre of gas at participating Couche-Tard outlets

 14.99% $0 Good Credit Apply
Card CIBC - Select Visa Card

Enjoy our lowest interest rate card for a low fee

 11.50% $29 Good Credit Apply
Card CIBC - Aerogold Business Visa Card

1.5 Aeroplan Miles for every dollar you spend at travel establishments

10.90% $180 Good Credit Apply
Card CIBC - Bizline Visa Card

The affordable pricing and high credit limit of a line of credit and the easy access to cash of a VISA card

10.90% $0 Excellent Credit Apply
Card RBC - Visa Classic Low Rate

Permanent low interest rate helps you save money when you carry a balance on your card

11.90% $20 Good Credit Apply

Who can qualify for low interest cards?

Credit cards with low interest rates are typically reserved for people with good to excellent credit. Lenders can offer low rates to creditworthy borrowers because they know responsible users typically pay their bills on time. People with poor credit will often only qualify for high interest rate cards. Banks charge higher rates to more risky borrowers.

Advantages of Low Interest Cards

Low interest credit cards are the preferred choice for people that carry a monthly balance, or those that finance the occasional large purchase with a credit card. The advantage is simple; lower interest rates equals lower interest payments.

Disadvantages of Low Interest Cards

If you pay your credit card bill in full every month then a low rate card may not be your best option. Almost all low APR credit card are missing a popular feature - rewards. Reward based credit cards generally have higher interest rates to offset the banks' cost of operating a rewards program. If you do carry a monthly balance then low interest credit cards are the preferred choice.

Low Interest Balance Transfers

A balance transfer is simply the process of moving debt from one credit card to another - typically to take advantage of lower interest rates. The cards on this page generally offer low rates on balance transfers as well as purchases. Most balance transfer cards require a small fee to transfer a balance. Depending on your current rate and balance, the interest savings from a low rate transfer will far outweigh the fee. Shop our low interest Canada credit cards to find the best deal.