8 Best Balance Transfer Credit Cards of December 2025 in Canada

From our Editors: The Full List of Best Balance Transfer Credit Cards in Canada

Best Overall: MBNA True Line Mastercard

What makes the MBNA True Line Mastercard the best balance transfer credit card in Canada? The answer is simple. In short, this no-fee contender offers a 0% promotional interest rate on balance transfers for an entire year! That means, with this card, you can differ your interest rates on balance transfers for the longest amount of time. In fact, this card is both one of the best no-fee credit cards in Canada and best low-interest credit cards in Canada. Unfortunately though, this contender lacks a rewards program and coverage. That said, it includes car rental discounts at Avis and Budget locations.

Ultimately, when you apply for the MBNA True Line Mastercard, you're applying for the best avenue to catch up on your credit card debt. Read more in our MBNA True Line Mastercard Review.

Best Runner-up: CIBC Select Visa Card

While the CIBC Select Visa Card doesn’t give you a full year of zero-interest balance transfers (like the MBNA True Line Mastercard), it still gives you several months of interest-free transfers, all for a substantially low transfer fee. Similar to the MBNA True Line Mastercard, the CIBC Select Visa Card has no rewards program, but it does offer travel accident insurance. There is a small annual fee for this card as well, but you won’t have to worry about it for the first year, since it’ll be waived while you get things situated.

Overall, the CIBC Select Visa Card is a good runner up to the MBNA True Line Mastercard in terms of balance-transfer welcome bonuses. It’s also ideal for those who want to save on some of their first-year balance-transfer fees. Learn more in our CIBC Select Visa Card Review.

Longest Low Interest Card: RBC Visa Classic Low Rate Option

Even though the RBC Visa Class Low Rate Option doesn't come with a zero-interest intro offer, it still provides a long-lasting low-interest promotional period. This impressive offer is accompanied by extended warranty and purchase protection insurance, plus gas discounts and extra points at Rexall. Thankfully, this card's annual fee is waived for this first year of membership. Find out more in our RBC Visa Classic Low Rate Option Review.

Best Balance Protection Low Interest Option: Scotiabank Value Visa Card

The Scotiabank Value Visa Card gives you the best of both worlds, offering a low interest rate on balance transfers for the first several months of membership for a low transfer fee. There are no rewards attached to the Scotiabank Value Visa Card, but the low annual fee accounts for perks like balance protection insurance and car rental discounts at participating Avis locations. Not to mention, the annual cost is completely waived in the first year.

In conclusion, the Scotiabank Value Visa Card is a top contender for the best balance transfer credit because it has one of the longest low-interest balance transfer intro offers, provides a low transfer rate, and includes valuable balance protection insurance. Get all the details in our Scotiabank Value Visa Card Review.

Best BMO Balance Transfer Card: BMO Preferred Rate Mastercard

There are a handful of BMO credit cards that offer competitive balance transfer interest rates, but the BMO Preferred Rate Mastercard is the most highly ranked. This Mastercard has a lasting low-interest promotional offer on balance transfers, plus a low transfer fee. To keep shoppers secure, the card also provides purchase protection and extended warranty insurance. Discover more in our BMO Preferred Rate Mastercard Review.

Best No-Interest Rewards Contender: Scotia Momentum No-Fee Visa

The Scotia Momentum No-Fee Visa Card offers a 0% interest introductory period plus some cashback on gas, groceries, drug store purchases, and recurring payments. While the card lacks coverage, it includes car rental discounts at Avis and Budget locations. Note that there is a small annual income requirement, however, as the name suggests, this contender avoids annual fees. Read more in our Scotia Momentum No-Fee Visa Card Review.

Best Cashback Card: Tangerine Money-Back Mastercard

Speaking of cashback, the Tangerine Money-Back Mastercard allows you to select 2 cashback categories out of the 13 offered by Tangerine, plus a third when you deposit your rewards into a Tangerine Savings Account. The best part? This competitive no-fee cashback card also offers low interest rates on balance transfers, landing it a spot in our Best Cash Back Credit Cards in Canada post. Get the entire breakdown in our Tangerine Money-Back Mastercard Review.

Best Premium Honourable Mention: Scotiabank Platinum American Express Card

The Scotiabank Platinum American Express Card doesn’t have a balance-transfer-related welcome bonus, but it does offer all-time low interest rates on purchases and cash advances – which includes balance transfers. Unlike many of the other cards we mentioned above, the Scotiabank Platinum American Express Card features a rewards program, earning cardholders a flat rate of points per dollar spent on all eligible purchases. The Scotiabank Platinum American Express card also boasts extensive and comprehensive insurance, plus tons of travel-oriented benefits (including lounge access). The catch? You’ll have to pay a high annual fee for these perks on top of the low balance transfer rates – it is a premium card after all.

Ideally, this card is best for frequent travellers and bigger spenders who also want to take advantage of low-interest rates. See more in our Scotiabank Platinum American Express Card Review.

How to Choose the Right Balance Transfer Credit Card

As with any credit card, picking the right balance transfer credit card comes down to your spending habits current financial situation. Specifically, you'll want to pick a balance transfer card with the lowest possible interest rate, for the longest promotional period. This way, you'll have plenty of time to pay off your carried balance. A low transfer fee is always helpful as well!

To find a balance transfer credit card that complements your unique situation, check out our Credit Card Balance Transfer Calculator. This tool compares how much you could be saving on your current credit/loan balance(s) if you transfer your lingering credit card balance to a Canadian balance transfer credit card. It also helps determine which balance transfer card is best for you.

How to Apply for a Balance Transfer Credit Card

To apply for a balance transfer credit card, simply tap the "Apply Now" button featured below any of the listed contenders above. Afterwards, you'll be redirected to the issuer's official website to kickstart the application process. Credit card applications typically ask for your personal information (like your birthdate, address, and email) and financial information (such as your income, when applicable).