For those that are looking for looking for the best Canada low interest credit cards, they may have even greater needs than the low interest rate that they want their card to possess. Some of these requirements may be;

  • Lowest interest rate
  • No Annual Fee
  • Lowest Cash Advances
  • Low Transfers
  • Low Credit Score
  • Low interest rates with Rewards
  • Low Interest rates with a Welcome bonus
  • Low Interest rates with Options
  • Low Interest rates with Flexibility

The following are the top ten best low interest credit cards in Canada that meet all these requirements.

  1. American Express Essential Credit Card  (best lowest rate)
  2. Scotiabank Value No Fee Visa Card ( Best no annual fee)
  3. TD Emerald Flex Rate Visa ( Best flexible rates)
  4. Modulo Visa ( Best cash advances)
  5. MBNA Platinum Plus( Best balance transfer)
  6.  Desjardins Classic Visa ( Best travel)
  7.  Low Rate Guaranteed Mastercard ( Best Poor credit)
  8. CWB Platinum Plus Mastercard ( Best rewards)
  9. BMO Preferred Rate Mastercard ( Best welcome offer)
  10.  Scotiabank Value Visa Card( Best options)

Review: Best Low Interest Canada Credit Cards

American Express Essential Credit Card

American Express Essential Credit Card

Annual FeeNone
Interest Rate8.99%
Balance Transfer %1.00%/6 months
Cash Advance %8.99%
Credit ScoreFair-Good
RewardsOffers

This card is on the top ten list for being able to offer the lowest interest rate along with some other important benefits such as;

  • Special offers
  • Advanced and reserved tickets
  • Excellent shopping coverage
  • Insurance coverage options
  • Fraud protection guarantee

Scotiabank Value No Fee Visa Card

Scotiabank Value No Fee Visa Card

Annual FeeNone
Interest Rate16.99%
Balance Transfer %3.99%/6 months
Cash Advance %16.99%
Credit ScoreGood
RewardsOffers

Aside from having a low interest rate another way to save on a credit card is by not having to pay an annual fee. This card allows for that and also has some other good offerings;

  • Discounts on car rentals
  • Optional Insurance protection

TD Emerald Flex Rate Visa

TD Emerald Flex Rate Visa

Annual Fee$25.
Interest RateTD Prime + 4.5% up to +12.75%
Balance Transfer %
Cash Advance %TD Prime + 4.5% up to +12.75%
Credit ScoreGood
RewardsDiscounts

This card stands to offer the best flexible interest rates as it is based on prime plus a percentage. If an individual can qualify for the lowest plus percentage then they are going to have a good card for the best interest rates. For example, TD price rate is currently 3.45 %. Add this to 4.5% and one may be able to get their cash advances for 7.95%. This card is most suitable for those who have a good credit rating and can continue to rely on low rates. It also has some other perks as well.

  • Emergency cash advance up to $500
  • Discounts on rental cars
  • Visa Zero Liability
  • Visa Verification
  • Fraud alerts

Modulo Visa

Modulo Visa

Annual Fee$50.
Interest Rate10.9%
Balance Transfer %10.9%
Cash Advance %10.9%
Credit ScoreGood
RewardsBonus Awards

This credit card deserves to be on the top ten list for its low interest on cash advances, but also for several of the other advantages that it has to offer such as;

  • Discounts
  • Purchase protection
  • Bonus dollars rewards programs
  • Mobile device insurance
  • Partner offers

MBNA Platinum Plus

MBNA Platinum Plus

Annual FeeNone
Interest Rate19.99%
Balance Transfer %0/first year
Cash Advance %24.99%
Credit ScoreGood
RewardsAwards

The interest rate itself in not considered to fall into the low interest credit card range. But the fact that you can pay zero interest on your other credit card balance transfer is what makes this card qualify for low interest. It also has some additional benefits such as;

  • Rental car coverage
  • Travel Protection
  • Emergency cash transfer

Desjardins Classic Visa

Desjardins Classic Visa

Annual Fee$30.
Interest Rate12.9%
Balance Transfer %12.9%
Cash Advance %12.9%
Credit ScoreGood
RewardsAwards

Along with the reasonable low interest rates this card has been added to the top ten list for its travel benefits. It offers travel insurance for the first three days of trips taken. A lot of the low interest credit cards don’t offer travel perks like this. This card is also affiliated with Westjet. Additional perks are;

  • Zero fraud liability
  • Hertz discounts

Capital One Low Rate Guaranteed Mastercard

Low Rate Guaranteed Mastercard

Annual Fee$79.
Interest Rate14.9%
Balance Transfer %14.9%
Cash Advance %19.8%
Credit ScorePoor
RewardsBasic

You may have to provide security funds to obtain this card. This card is designed for those that have poor credit. It will depend on your credit rating as to whether you need to secure the card. The reason it has made the top ten list is because it has a low interest rate compared to standard cards. This allows for extra savings.  The extras that come with this card are,

  • Basic Mastercard benefits
  • Zero liability

CWB Platinum Plus Mastercard

CWB Platinum Plus Mastercard

Annual FeeNone
Interest Rate9.9%
Balance Transfer %9.9%
Cash Advance %24.99
Credit ScoreExcellent
RewardsPoints

It is difficult to find a low interest rate credit card that is also going to give some good rewards, but this one qualifies for this. So it has earned its place in our top ten list for best low interest rate Canada credit cards.  Some of the advantages to this credit card are;

  • One point MBNA reward us earned for every $1. spent on eligible purchases
  • After first eligible purchase, 1,000 bonus points are earned
  • Rental vehicle insurance
  • Purchase assurance
  • Extended warranty
  • Travel services

BMO Preferred Rate Mastercard

BMO Preferred Rate Mastercard

Annual Fee$20.
Interest Rate11.9%
Balance Transfer %3.99%/10 months
Cash Advance %11.9%
Credit ScoreGood
RewardsAwards

Different credit cards have different welcome bonuses. The one that this card has that has made it stand out is its welcome offer by offering a low balance transfer.  This along with the low interest rates make it a card worth having. Some of its other benefits are;

  • Free Extended warranty
  • Purchase protection
  • Zero dollar liability

Scotiabank Value Visa Card

Scotiabank Value Visa Card

Annual Fee$29.
Interest Rate11.99%
Balance Transfer %0.99%
Cash Advance %0.99%
Credit ScoreGood
RewardsDiscounts

This credit card has a lot going for it. It can also fit into the category for the best balance transfer and cash advance interest rates. But, for this list it has been included for some of the options it offers such as the credit card protection. This can be purchased at a low premium rate and can give a variety of different types of insurance coverage. The card is valuable for the choices it offers. Other benefits include;

  • Savings on car rentals
  • Travel rewards on supplementary cards

Resources

https://www.americanexpress.com/ca/en/credit-cards/essential-credit-card/
http://www.scotiabank.com/ca/en/personal/credit-cards/visa/no-fee-value-card.html
https://www.desjardins.com/ca/personal/loans-credit/credit-cards/visa-modulo/index.jsp
https://www.mbna.ca/credit-cards/overview/platinum-plus/
https://www.desjardins.com/ca/personal/loans-credit/credit-cards/visa-classic/index.jsp
https://www.capitalone.ca/credit-cards/low-rate-mastercard/
http://www.cwbank.com/personal-banking/credit-cards
https://www.bmo.com/main/personal/credit-cards/preferred/single
http://www.scotiabank.com/ca/en/personal/credit-cards/visa/value-card.html