My Rate Compass

Best Balance Transfer Credit Cards in Canada for 2020

 
Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 19.99%
Cash Advance Interest Rate: 24.99%
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?

 

  • No annual fee
  • Low balance transfer
  • Free hotel stays
  • Generous hotel rewards
  • Flexible redemption options
  • Status upgrade
Why we like it

 

The Best Western Rewards MasterCard offers a little bit of everything from a low balance transfer rate to free room upgrades on top of a free hotel night stay as a welcome bonus and NO annual fee – enough to make it on our list of the best hotel credit card in Canada.

 

  • No annual fee – You don’t have to pay anything for this credit card which makes it a perfect secondary credit card in your wallet.
  • Low balance transfer – Take advantage of one of the most competitive balance transfer offer of 1.99% for 10 months.
  • Free hotel stays – Treat yourself to a free night stay as a welcome bonus.
  • Generous hotel rewards – This credit card offers an unbeatable 4.5% rewards rate when you redeem points for Best Western Hotel stays. There is also no limit to the points you can earn, no expiration, and no blackout dates. Truly a gem if you are a frequent customer.
  • Flexible redemption options – You can also redeem points for airfare, dining, merchandise, entertainment, gift cards and charity, among others.
  • Status upgrade – Automatic upgrade to gold or platinum status if you spend a lot using your credit card.
Credit Card snapshot

Free Bonus Night

Get 20,000 BWR points — enough for a one-night stay — with your first eligible purchase

$1 = 5 points

Purchases at Best Western properties earn you 5 BWR points for each eligible purchase you make

Tier Up!

Automatically get fast-tracked to Gold Elite Status after your first eligible purchase

No Annual Fee

Save money right from the start, because you don't pay an annual fee

Earn 1 BWR point for every $1 you spend on eligible purchases

Earn 5 BWR points for every $1 you spend at a Best Western property

1.99% promotional interest rate (AIR) on balance transfers for the first 10 full months

 

Welcome Bonus
Annual Fee: $29
Purchases Interest Rate: 12.99%
Cash Advance Interest Rate: 12.99%
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • Save on car rentals
  • Optional insurance coverage
  • Faster checkout
  • Free supplement card
Why we like it

The Scotia Value Visa is aimed at individuals looking for a good balance transfer credit that offers decent privileges and a lower interest rate beyond the introductory promo period. Although it comes with a minimal fee, customers who cannot pay their balance in full can take advantage of the low post-promotional rate of 12.99%. Plus, if you regularly rent cars from Avis, then you might get the best value out of this card.

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Why We Like It:

  • Save on car rentals -Save up to 25% when you use the Scotia Value Visa to book your rental cars with AVIS and other budget rental car locations in Canada.
  • Optional insurance coverage - For a small fee, depending on the remaining balance on your credit card, you can receive financial protection from a range of life events such as job loss, disability, critical illness, and loss of life.
  • Faster checkout -The payWave feature helps you save time by allowing you to simply wave the card or use the app on your mobile phone to pay for small purchases.
  • Free supplement card - Get an additional supplementary cardholder at no extra charge.
Credit Card snapshot

Scotiabank Value® Visa* Card review

Great reasons to get this card for your everyday purchases

Save up to hundreds of dollars a year on interest

Pay down higher interest rates balances faster

  • Stay one step ahead of your balance a lower interest rate makes this card an affordable way to finance those medium to large purchases you are making.

Transfer higher rate balances and save even more

  • Switch balances over from higher interest-rate credit cards to the?Scotiabank Value?Visa Credit Card. By consolidating your higher-rate balances, you'll save on interest and make paying bills easier.
Welcome Bonus
Annual Fee: $0
Purchases Interest Rate: 12.99%
Cash Advance Interest Rate: 24.99%
Recommended Credit Score
Poor / No Credit
Fair / Average
Good / Excellent
Why we like it?
  • Tempting balance transfer promotion
  • Low regular interest rate
  • No annual fee
  • Fraud protection
Why we like it

With a low balance transfer rate and a promotional 0% interest for the first few months, the True Line MasterCard Credit Card is the best balance transfer credit card in Canada. Additionally, it also comes with no annual fee and a low regular interest rate that make it appealing to people without a high income or credit score and those who want to pay off multiple debts.

Why We Like It:

  • Tempting balance transfer promotion – The best feature of this credit card is the unbeatable 0% balance transfer interest rate for the first 10 months. Compared to the 24% interest rate from other credit cards, this one is definitely a winner.
  • Low regular interest rate – Once the promo expires, you will get the 12.99% rate on purchases. If you haven’t paid off your balance in the first 10 months, you will still not have a hard time paying of the remaining debt – thanks to this low interest rate.
  • No annual fee – Less money coming out of your pocket means more savings for you.
  • Fraud protection – MBNA keeps track of any suspicious activity and will look out for any fraudulent transactions on your behalf.
Credit Card snapshot
  • This low rate card has a 12.99% Standard annual interest rate on purchases
  • No Annual Fee
  • You could save on interest when you use our welcome offerto transfer a balance from a higher interest rate account
  • Welcome offer: You could save on interest with a 0% promotional annual interest rate on balance transfers for the first 10 months, for transfers completed within 90 days of account opening. A 3% fee applies (minimum fee of $7.50 CAD)
  • Add up to 9 authorized users¤ with no additional annual fee for each added authorized user

This offer is not available for residents of Quebec.