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Balance transfer credit cards provide valuable breathing room for those managing high-interest payments, featuring promotional 0% APR periods that temporarily pause interest accumulation. Below, you'll find a selection of the best balance transfer cards with competitive introductory offers, reasonable transfer fees, and additional rewards programs that continue delivering value long after the promotional period ends, helping you make progress toward your financial goals.
Best Overall Balance Transfer Credit Card which comes with No annual fee
Our choice for: Balance transfer and interest savings
Even though this card offers no benefits or rewards, the amount you can save on interest is substantial, making it an excellent option for reducing your monthly payments.
Pros
Great to reduce monthly interest payments during the promotional period.
Low purchase interest rate for people planning to put some balance on their credit card.
Cons
A flat fee has to be paid on the balance to make the transfer happen.
Not a good card other for purposes other than balance transfer.
Rewards*
No rewards earned on purchases.
Standard Annual Interest Rates of 12.99% on eligible purchases, 17.99% on balance transfers✪, and 24.99% on cash advances.
You could get a 0% promotional annual interest rate (“AIR”)†for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee. This offer is not available for residents of Quebec.
Use available credit on your credit card to transfer funds right to your chequing account.
Around-the-clock fraud protection.
Benefits*
Details*
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car in Canada and US and 5% internationally
Eligibility*
Credit Score
Good
Annual Income
N/A
*†, ✪, Terms and Conditions apply. This offer is not available for residents of Quebec. Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button. The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank. Balance transfers will be fulfilled in the order listed and are treated as balance transfers in accordance with your Account Agreement. The total value of balance transfers cannot exceed your authorized credit limit. If the value is greater, MBNA may send a partial payment to the named creditor/designated account. THERE WILL BE A TRANSACTION FEE EQUAL TO 3.00% OF THE DOLLAR AMOUNT OF EACH BALANCE TRANSFER INITIATED WITH THIS APPLICATION. A MINIMUM FEE OF $7.50 WILL APPLY TO EACH BALANCE TRANSFER TRANSACTION. A balance transfer may not be used to pay off or down your account balance or any other balances with us (including our affiliates, which would include any member of the TD Bank Group). Important Notice: Effective September 25, 2025: If the Balance Transfer fee is less than $3.50, we will charge a minimum Balance Transfer fee of $3.50. Check here for full details and current product information.
The MBNA True Line Mastercard stands out in the Canadian market by offering an unmatched 0% promotional interest rate (with an initial transfer fee) on balance transfers for a full 12 months.
While we think Tangerine isn't the best single credit card to own, it's still a valuable card to have in your arsenal for maximizing your rewards. It offers one of the highest cashback rates for pharmacy and recurring bill payments, areas where your other credit cards might not provide significant rewards. This card only requires a Fair credit score, making it an excellent choice for people who don't have a high credit score yet.
Pros
Allows you to change the categories, and you get a 2% reward depending on how your spending is changing every 90 days.
2% cashback on recurring Transactions and pharmacy purchases. One of the highest cashback rates on these categories among credit cards in Canada.Â
Has cashback on Furniture and Home Improvement categories. Two categories that are not covered by any other card in Canada.
Easy credit score requirements needed for this card.
Overall, it is a good no-annual-fee cashback credit card, especially if you have a Tangerine Savings account.
Cons
Insurance coverage is the most basic.
Very low cashback rate on the other categories not selected.
Rewards*
2% on the choice of two categories chosen from the 10 offered by Tangerine (Grocery, Restaurants, Gas, Entertainment, Furniture, Hotel-Motel, Drug Store, Reoccurring Bill Payments, Home Improvement, Public Transportation and Parking).
Have your cash back Reward deposited in a Tangerine Savings Account and get a third 2% Money-Back Category.
0.5% cashback on all other credit card purchases.
Insurance*
Coverage*
Purchase Protection
90 days
Extended Warranty
Up to a year
Eligibility*
Credit Score
Good
Annual Income
N/A
*11 Balance Transfer Promotional Offer at 1.95% for 6 months (1% Balance Transfer Fee)
A Promotional Rate of 1.95% will apply to any and all Balance Transfers made within 30 days of the Account opening, and will remain in effect for 6 Statement Periods from the date the last such Balance Transfer was posted to the Account (the “Promotional Rate Period”). To take advantage of this Promotional Offer, you must complete the Balance Transfer request within 30 days of Account approval. You must also activate your Card within 45 days of Account approval for the requested Balance Transfer to be processed, or the Balance Transfer will be automatically cancelled. Balance Transfers are treated as Cash Advances on your Card and do not have an interest-free grace period. Balance Transfers may not exceed the available credit on the Account. If the Balance Transfer exceeds the available credit, the Balance Transfer transaction will not be processed. A 1% Balance Transfer Fee will be charged on each Balance Transfer amount and will be immediately charged to your Credit Card. This Balance Transfer Fee is waived by Tangerine if you are a resident of the province of Quebec at the time you accept this offer. Interest does not accrue on the Balance Transfer Fee, however it is included in the Minimum Payment amount on your monthly statement. You must continue to make all of your monthly Minimum Payments by the Payment Due Dates shown on your monthly statements. If you still have an amount owing from your Balance Transfer when the Promotional Rate Period ends, the Cash Advance interest rate of 22.95% will apply to that amount. You must continue to make the Minimum Payments on your Account, regardless of whether the Balance Transfer has been processed to your Account. We don’t charge interest on new Purchases that appear on your statement for the first time if we receive full payment of the Balance on your statement (including payment of any Balance Transfers included in that Balance), by the Payment Due Date on your statement. This means you will pay interest on new purchases that appear on your statement for the first time unless we receive payment of your entire balance each month by the payment due date. For example, if you do a promotional (or non-promotional) balance transfer for $7,000 and spend $500 in new purchases during the same statement cycle, we must receive payment of the entire balance of $7,500 on or before your payment due date to avoid paying interest on your new purchases that month of $500. Balance Transfers may not be used to transfer money to or from another Tangerine Account. See the Tangerine Credit Card Cardholder Agreement for more information about how we apply payments to your Account. Check here for full details and current product information.
If you are looking for a card that earns you rewards on your purchases and also has a balance transfer bonus, the card above is what you are looking for. You will receive a 1.95% introductory rate for the first 6 months while paying no annual fees. The transfer fee is 1%, one of the lowest for balance transfers in Canada. This low transfer fee, good promotional period, and rewards on the credit card make it the best option if you are planning to hold a credit card for a long time.
Best Balance Transfer Credit Card for Long Pay Period
This is a great card for those who carry a balance every month and want to take advantage of much lower interest rates compared to most other cards. It also comes with a great introductory balance transfer rate for a limited number of months.
Pros
A great low introductory interest rate on balance transfers
Only 13.99% interest rate on purchases, balance transfers, and cash advances.
Cons
No rewards on daily purchases
Limited insurance
Rewards*
This card does not earn rewards on purchases but instead offers much lower interest rates.
Insurance*
Coverage*
Balance Protection
optional
Benefits*
Details*
Car Rental Discount
Avis car rental discount up to 25% worldwide
Eligibility*
Credit Score
Good
Annual Income
N/A
*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information. Check here for full details and current product information.
The Scotiabank Value Visa Card stands out with its 0% introductory interest rate on balance transfers for the first 10 months, which later transitions to a competitive 13.99% permanent rate, all while charging one of the lowest transfer fees at just 2%. Despite having no rewards program, this card offers valuable perks including balance protection insurance and Avis car rental discounts, with the annual fee completely waived during the first year of membership.
The Scotiabank Platinum American Express is the perfect choice for those seeking a super premium credit card without steep income requirements. With a high flat rate of rewards on all purchases, extensive insurance coverage, and flexible travel redemption options, it offers full-featured perks that cater to frequent travelers and savvy spenders alike.
Pros
Low Interest Rate: Offers a competitive interest rate of 9.99%.
Strong Rewards: Earn 2x Scene+ points on all purchases.
Airport Lounge Access: Enjoy 10 complimentary lounge visits, including Plaza Premium Lounges, through Priority Pass (membership required).
Comprehensive Travel Insurance: Includes extensive coverage for travel-related needs.
Flexible Travel Rewards: Points can be redeemed for travel bookings with any provider.
No Foreign Transaction Fees: Shop internationally without extra charges.
Cons
High Annual Fee: The annual fee is steep compared to similar cards offering similar perks.
Limited Premium Perks: Lacks top-tier travel benefits like free checked baggage and priority boarding.
Rewards*
Earn 2x Scene+ points for every $1 spent on all other eligible purchases
Earn additional benefits + up to 4x Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
Insurance*
Coverage*
Emergency Out of province Medical
$2M, Up to 31 days
Emergency Medical Over 65
$2M, Up to 10 days
Trip Cancellation
$2500/person, $10000/trip
Lost or Stolen Baggage
$500/person, $1000/trip
Trip Interruption
$5000/person, $25000/trip
Baggage Delay
$1000 After 4 hours
Flight Delay
$1000/person
Travel Accident
$500K/person, $1M/occurrence
Car Rental Damage & Theft
$65K up to 48 days
Hotel Burglary Insurance
$1000/occurrence
Mobile Device Insurance
$1000
Purchase Protection
120 days
Extended Warranty
Up to a year
Benefits*
Details*
No Foreign Transaction Fees
Airport Lounge - Plaza Premium
10 visits, 4 visits for secondary card (combined with the Priority pass)
Airport Lounge - Priority Pass
10 visits, 4 visits for secondary card (combined with the Plaza Premium)
American Express® Experiences
Concierge Services
Discount
Discount on PriorityPass Membership
Status lift
Hertz #1 Club Gold Member
Extra points
Extra 4 Scene+ points per Canadian dollar spent on hotel and car rental bookings made through Scene+ Travel using your Scotiabank Platinum American Express Card
Eligibility*
Credit Score
Good
Annual Income
$12,000 personal or $12,000 household
*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information. Check here for full details and current product information.
If you want low interest over the long run beyond just a promotional balance transfer period, this card is an excellent choice that also earns you great rewards and benefits.
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