Compare Credit Cards for October 2020

Compare rewards, cash back, low interest, balance transfer, secured cards and more.


NameRewardPurchase Interest RateCash Advance RateAnnual Fee
Enjoy a full annual fee rebate for the primary cardholder for the first year. Conditions apply. Apply online by March 2, 2020.

N/A

N/A

$25

Details
Low interest rates of 12.99% on purchases and cash advances.

12.99%

12.99%

$20

Details
Save on interest by consolidating your higher-rate balances and get a low 12.99% purchase interest rate.

12.99%

12.99%

$29

Details

12.99%

24.99%

$0

Details

16.99%

16.99%

$0

Details

12.99%

12.99%

$20

Details

8.99%

24.99%

$39

Details

8.99%

8.99%

$0

Details

10.9%

12.9%

$35

Details

12.9%

12.9%

$30

Details

12.99%

12.99%

$29

Details

13.99%

13.99%

$29

Details

14.9%

19.8%

$59

Details

Low-interest rate credit cards to get in 2020

There are many ways that a person can take advantage of a low-interest credit card. Although for many reasons, it is highly unlikely that you will see the words “low interest” and “credit card” associated with each other but regardless of that, it is a great option if you are trying to get rid of debt or trying to carry a balance most probably. We have compiled a very brief but informative list of the best low-interest credit cards that you can choose in the country of Canada in the year 2020. 

A few other important uses of a low-interest credit card besides the balance carrying feature is it can help immensely if you are amidst of payment of a high-interest debt. Most of the credit cards that are in the market offer low-interest rates as a trial period of around six months, while the other cards offer low interest as a privilege if you pay an amount annually. 

But there are also cards that5 offer low-interest rates without any trial periods or payments as well. Here we have made the list of the best cards that offer relatively low-interest rates, and we hope that this list will help you make the most out of your transactions. 

Scotiabank Value® VISA* Card

This card is great if you are trying to carry a balance every month. This has been noted as probably one of the very best fixed-rate cards that you can get in Canada. The annual fee for the card is a mere $29 per year but if you are saving the interest rates then you can easily make sure that the fee is not a big deal. 

The basic rate of the transactions is 12.99%. This is one of the cards that can help you if you are just making normal transactions and cash advances that you might be doing. This card probably has one of the best interest rates as well. A good example of this is if you are carrying the monthly balance of $3000 on the card then you are just paying a price of $32.03 per month in interest charges.  

MBNA True Line® Mastercard®

This is a card that is great if you keep transacting money from your other cards into this card. The charges are relatively low for these transactions and also you can make great use of the card wherever you go. This card has a very competitive rate in the market for starters, the rate is 12.99% on most purchases. 

Another amazing perk about this card is that it offers a 0% rate of interest in the transactions between your other cards that might have a very high-interest rate for the first 10 months if you complete the transactions in the first 90 days of getting this card. Also, the 3% charge annually if you want to continue the rates are amazing. 

This card also has no annual fee and the transaction rate remains at 12.99% for life. But the thing to be noted as well as that the rate for cash advances is a whopping 24.99%, so watch your back if you do cash advances regularly. 

MBNA True Line® Gold Mastercard®

This is a great card as well. There are many perks that this card offers and you can make use of but it also does not stand in the middle of any type of card. You can make use of this card in almost any manner without losing much money and the interest rates are also relatively very low. 

This card comes with an annual fee of 39 dollars but it also offers some amazing things, for starters, we will talk about the amazing rate of interest that this card offers, which is 8.99%. this is easily one of the lowest rates that you can find on the market currently. 

The second thing that makes this card amazing is that it offers a 0% interest rate for balance transfers the first six months of the usage of this card. After the promotional period ends, you have to pay a rate of 8.99% that is still relatively low. This is an amazing card if you want to pay off a debt. 

Even if you fail to pay off the entire debt in the time of six months, you can still pay the amount back without losing much sweat because of the low-interest rate. Though it is to be noted that the cash advances on this card have a rate of 24.99%. Make sure that you watch your back if you are making any cash advances on this card. 

BMO® Preferred Rate Mastercard®*

If you are trying to find a credit card that has a relatively low-interest rate on most transactions and regular purchases and also a very low annual fee then this card is ideal for your tastes. The rate of interest on this particular card is as low as 12.99% on most regular purchases and also cash advances and that rate is relatively low compared to most of the cards that are available on the market right now. 

Right now, they are also offering an interest rate of 3.99% on most balance transfers that you might be making for the first 9 months, though the obligatory charge of 1% will apply. 

This card also comes with all the benefits that you might expect to be given to you when you are trying to get a credit card. The warranty coverage is available on this card and also it comes with the manufacturer’s warranty for one year. This also makes sure that you have protection against any kind of theft or damage for the first 90 days. 

Here we have made the list of some of the very best and lowest interest rate credit cards in the country of Canada that you can easily make use of, for things ranging from balance transfers to purchases. So, make your choice according to your requirements related to low interest rate credit cards in Canada.