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    Best Low Interest Credit Cards Canada



    The perspectives of "Best Low Interest Credit Cards” are for people with good credit and people with bad credit. These credit cards presented here are coming from different card issuers who offer low interest rates when using the cards for purchases or any transactions. Compare and check every detail of the card, most especially on the features and benefits. In this way, you can decide which best low interest credit cards Canada to apply for and suit your needs.

    All of these cards show in this article Carry a Balance.

    Good Credit - Low Interest Credit Cards



    Under this category are credit cards that offer low interest rates. These best low interest credit cards Canada are beneficial to card users who do so much purchasing or transactions with the cards. In case of financial problems and the user is unable to pay the bills that is due every end of the month, the card holder is only charged with minimal interests. It will not be a burden in the part of the card user as the interest rate is low and settlement of the account on the next billing date is more possible. Various types of best low interest credit cards Canada coming from different card issuers will be presented. Take a look on the unique characteristic of each card.

    Capital One SmartLine™ Platinum MasterCard


    Apply Today! Capital One - SmartLine™ Platinum MasterCard

    This is one of the best low interest credit cards Canada that Capital One can offer. This credit card requires an excellent credit history which means that the card users have build up a credit history in the past during the start of his/her credit card usage. The client must not have any single penalties acquired and was obedient in following the rules or policies of the card issuer. The interest that comprises this card is at 5.99% which is best for individuals that save money on interest. This card is composed of benefits that would give the card holder utmost convenience.

    More features of the card are listed below:
    • No Annual Fee which means less responsibility on payments.
    • 19.8% interest on Cash Advances is not a good rate for this kind of card service.
    • 5.99% on Purchases and Balance transfers guaranteed for 3 years. This must require the card holder to sustain agreement status. The interest rate switches to a variable rate of Prime +3.75% on purchases and balance transfers after 3 years of being a card user for the company.
    • Balance transfers don’t entail any fee or charges.

    MBNA Gold MasterCard® Credit Card – Fixed 9.99% AIR


    This best low interest credit cards Canada has a fixed annual interest rate of 9.99%. The required credit history for this card is at a good level. If credit card applicants haven’t made an excellent credit history, they could resort to this card. Soon, if they have gained an excellent credit history then they can shift to a higher credit card that offers maximum benefits. More benefits below to ponder on.

    Here are some features of the credit card:
    • No Annual Fee for the card holder.
    • 9.99% Annual Interest Rate on Purchases and Cash Advances are offered and is considered a fair rate for the client.
    • Around-the-clock fraud protection that gives assurance of safety and risk-free for the clients.
    • Online access to your credit card account is available by just login in the internet with secured login password.
    • 24-hour Customer service that is always ready to help.
    • Immediate cash access at 430,000 ATMs internationally
    • Emergency services like lost document and ticket replacement, lost luggage assistance, travel accident insurance, auto rental insurance are also catered on the services of the company.

    CIBC Select Visa™ Card


    CIBC Select Visa Card is offering a low interest rate of 11.5% to the card user. However, this credit card does have an annual fee of $29 which can already be considered cheap and affordable. Even though this card has an annual fee, it doesn’t affect the client’s usage of the card. The card holder can still use the card as much as he/she likes. Check further for the extra benefits of the card.

    Additional card benefits below:
    • It instantly gives the card holder $100,000 Common Carrier Accident Insurance that can be used to give a helping hand to the customer when they unfortunately get into an accident.
    • When renting a car, AVIS Car rental give the client a whapping 20% discount to all participating locations only.
    • In using a cheque, CIBC is offering free personalized Convenience cheques.
    • You can get 3 maximum credit cards per account with no extra charge coming from the card issuer.

    Apply Today! Capital One - Gold MasterCard®; 11.9% Guaranteed for 3 Years (as long as you pay your bills on time)!

    Bad Credit - Low Interest Credit Cards



    What you can see in this category are the credit cards that have low interest rates as well as cards that don’t require a good credit history. Usually, the credit cards here are guaranteed for new users who don’t have any credit history and for a client who has a bad or fair credit history. A variety of credit cards will be introduced along with their distinctive features and benefits. Evaluate each card and decide on what card captures your needs.

    Capital One Low Rate Guaranteed Secured MasterCard®




    This is a card that allows customers to start building their credit history. Every client that applies for this credit card has a guaranteed approval. One important feature is that the card offers a low interest rate as well as low annual fees. The interest rate is at 14.9% and the annual fee of $69 respectively. This is one of the better secured credit cards to apply for. To attract you more, check out the bonus card benefits below.

    This credit card comprises these following features:
    • Any application of the card has a guaranteed approval.
    • Master RoadAssist™, MasterCard Global Service™ and MasterCard PayPass™ are use in tap-and-go pay system that gives less hassle for the client in payment as the card don’t need to be swiped.
    • Low Interest rate of 14.9% on purchases and balance transfer that does not bring trouble to client during payment of balances.
    • The customer service is on standby 24/7 through phone or online.
    • Provides 0$ fraud liability for any unauthorized purchases done by the card user.
    • Give you the chance in building a credit history.

    Capital One Low Rate Guaranteed MasterCard®


    Apply Today! Low Rate Guaranteed MasterCard®

    This best low interest credit cards Canada allows the card users to use all the benefits of having a credit card. Capital One provides the client all the extravagance of renting a car, do online shopping or book hotel reservations. Having this credit card for your convenience, the credit history you are building will not be affected but instead grow to a higher level as long as no penalties are encountered. This card has a lot more to offer. Check it out below.

    Other Capital One Guaranteed MasterCard benefits:
    • Travel benefits offered: Master RoadAssistTM, MasterCard Global ServiceTM, MasterAssistTM Travel Assistance Service for client safety all the time.
    • Travel accident insurance is also given aside from the safety assistance.
    • MasterCard PayPass™ give convenience in paying bill for the card holder.
    • Tap-to-Go system when using the card to have less hassle from card swiping.
    • 27/7 standby customer service to phone or online.
    • $0 fraud liability for unauthorized card holder using the credit card for any transactions.
    • The Guaranteed MasterCard® additionally protects you with purchase assurance and extended warranty for the time the client is still rebuilding the credit history.

    Low Interest Introductory Rates



    The cards that belong to this category are those credit cards who offer through the low interest introductory rates. This usually involves the interest rates on purchase, cash advance or balance transfer depending on the card issuer. However, this offer is only limited for a span of time. Some card issuers give a time span of 3 month to 6 months while others reach a year or two. Pick the card that suits you as card benefits are displayed below.

    Capital One® Platinum Prestige


    This card requires an excellent credit history which means that card applicants who are eligible are only those who have build up an excellent credit history. This card has a 0% annual interest rate only for purchases and balance transfer until May 2011. Clients would get more savings for this card due to the 0% APR. However, once the date has passed, everything will be back to normal. So, for clients who are planning to have this credit card, maximize the features of this card by using the card as often or most of the time before the due date will be reached.

    Here are extra benefits of the credit card:
    • No annual fee is charged for this card.
    • 3% interest of the amount for cash advances but not less than $10.
    •Travel benefits offered: Master RoadAssistTM, MasterCard Global ServiceTM, MasterAssistTM Travel Assistance Service for client safety all the time.
    • Travel accident insurance is also given aside from the safety assistance.
    • MasterCard PayPass™ give convenience in paying bill for the card holder.
    • Tap-to-Go system when using the card to have less hassle from card swiping.
    • 27/7 standby customer service to phone or online.
    • $0 fraud liability for unauthorized card holder using the credit card for any transactions.
    • 3% interest on balance transfer after May 2011.
    • After May 2011, the APR returns back to 24.90% on cash advances and 11.90% on purchases.

    Citi® Platinum Select® MasterCard®


    This is an attractive credit card only for clients who do have good or excellent credit history. The introductory interest rate offers start with the balance transfer which is 0% as well as on purchases for 18 months time. This card doesn’t have any annual fee charges. This card allows a lot of savings for the client for a specific period of time. However, after the 18 months grace period given, the card users still can save but not as much as having the introductory rates. List of additional benefits are given below.

    Here are the features of the credit card:
    •Having the card you may become eligible for an unsecured card after 18 months of card usage.
    • $0 liability on unauthorized charges made into the client account.
    • Citi® Identity Theft Solutions protects the account and personal information of the card holder.
    • No required income or co-signer to start building a record of account performance.
    • With retail purchase protection, the items purchased with your card are safe against accidental damage or theft for up to 90 days from the day the product is bought.
    • Tap-and-go system of Citi MasterCard® Payment Tag with PayPassTM is a new innovation where you just tap your card rather than the old system of swiping it.
    • Citi® Credit Card Benefits & Services offers cash or rewards such as American Airlines® awards and travel benefits to cash back and college saving.
    • APR on purchases is as low as 9.99%.
    • 3% interest rate for cash advance and balance transfer with a minimum amount of $5.

    Slate from Chase


    Slate from Chase credit card gives you the capacity to propose your own payment arrangement. There are four ways to pay off your balance and these are the following: Full Pay, Split Pay, Finish It and Track It. Full Pay allows you to keep away from paying interest on everyday items, such as gas and groceries, when you pay settle your balance each month. These are routinely divided on your billing statement. Split Pay allows you to pay off larger purchases on your own provisions, you create a date or do monthly payment and these items will be made into half reflected on your statement. Finish It allows you to pay down your whole balance sooner by making a date or paying at the end of the month. Track It allows you to take note of your transactions and check your payment development in real time.

    The introductory period is based on the application and level of credit history. If you qualify for Elite and Premium Pricing, you will be granted a 0% annual percentage rate on purchases and balance transfers for the first 6 billing cycles following the opening of the account. If you qualify for Standard Pricing plan, you will enjoy a 0% APR on balance transfers for the first 6 billing cycles of the account opening.

    Chase credit card offers the following as additional features:
    • 0% APR up to 12 months is offered by the card issuer.
    • The APR on purchases is at 11.24%.
    • When having cash advances, the APR is at 19.24%
    • No annual fee is charged to the card holder.
    • Balance transfers have an interest of 3% with a minimum of $5 while cash advances have a minimum of $10.
    • Dedicated service advisors are on standby 24/7.
    • No annual fee charge even if the card company is giving all the card benefits it can offer.

    See Also



    Best Credit Cards Canada

    Best Balance Transfer Credit Cards Canada

    Best Cash Back Credit Cards Canada

    Best Capital One Credit Cards Canada

    Best MasterCard Credit Cards Canada

    Best MBNA Credit Cards Canada

    Best Visa Credit Cards Canada

    Best Secured Credit Cards Canada

    Travel Credit Cards Canada

    References



    Best Secured Credit Cards Canada

    Best MasterCard Credit Cards Canada

    Best Capital One Credit Cards Canada

    Canadian Money Advisor - Low Interest Cards

    External Links



    Low Cards Products

    Low Interest Credit Cards Directory

    Best Canadian Credit Cards

    BEST LOW INTEREST CREDIT CARDS CANADA


 
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22 Comments
On Jun 16, 2011, acrinolina Said:
jonathanpaul,

But to qualify for this card you probably need to have perfect credit history? Even there is a small yearly fee the interest rate is too low and I doubt they approve everyone for this card.
On Jun 15, 2011, queend06z2Ex Said:
I've had my PC MC for a few years at 18%. Recently they mailed me a letter stating that my new interest rate is 5%. Not a promotion, there's no expiry date, this is my new low rate for "being a good customer"! Yay!

I don't spend that much, I pay small weekly payments, sometimes PC MC tells me to skip a months bill payment. They've been the best.
On Jun 15, 2011, piliersdebarkSuW Said:
i had a TD card was paying 18%, after seeing a clip about calling and asking to lower the rate, i called mine and got it knocked down to 12.5. they had to change it to an emerald but hey who cares 6% is 6% and if they won't budge from a really high amount go to another card. many of them are offering low interest rates on transfers.
On Jun 14, 2011, racingangelw9D Said:
Hi all.. I need some advice. I had recently read that you can contact your credit card company to have your CC interest reduced. Is that true? Have any of you done that? How did you do it?

Our cc has a high interest rate, and with our credit having improved since we originally got the card, I would like to see if I can in fact have the interest lowered.

Thanks for any help or advice!
On Jun 14, 2011, Jean Karla Said:
Which do you think of these two cards give the better rate? Capital One Gold MasterCard 11.9% Guaranteed for 3 Years or the RBC VISA Classic Low Rate Option?
On Jun 13, 2011, jonathanpaul Said:
I believe you're failing to account for the mortgage interest write-off, but even if you were, the 4% would probably be the best rate still. The properties you own could be sold and depending on your equity, could eliminate your mortgage debt if you needed to. On the contrary, there are not many people looking to buy a credit card carrying $6k worth of debt so down the road you will have to pay off the credit card at some point.

If it were me and I had the ability to pay off the card, I would do it.
On Jun 13, 2011, WiserCredit Said:
I have Discover Card... I don't know what my interest rate is, but there's no yearly fee. It might be 17.5%?
On Jun 13, 2011, JLP178 Said:
I have an AmEx and Chase Visa that are both well under 19.9% and have no fee, but I would hardly call 19.9 low interest.

Not that I care what my interest rate is as I always pay off my card in full each month. They could raise it to 50% for all I care, I still won't pay a dime more than I do now.
On Jun 13, 2011, metalsluggish Said:
I have a credit card locked in at 4% interest for the life of the balance. I do not use this card for anything. I have about 6,000 left on the balance. I'm getting advice to pay off the credit card, but I'm not sure that's the smartest move. My house is 5.25%, I have a rental property at 6.5%. Both would give me better guaranteed return. I have no other credit card debt. The risk of something happening to this card doesn't bother me.

Should I pay it off, or should I put my money into better returning investments?
On Jun 10, 2011, NeedyDiddy Said:
thanks for your reply jonathanpaul.. I only have 700 score as of the moment. this means that i need to improve my credit score for me to qualify. Any advise you can give on how to improve my score?
On Jun 10, 2011, jonathanpaul Said:
dominique27..

Capital One SmartLine Platinum MasterCard would require an "excellent score". this means that your credit score should be between 750 and 850 for you to own the card.
On Jun 6, 2011, jonathanpaul Said:
Are you looking for a credit card with no yearly fee? Capital One SmartLine Platinum MasterCard is perfect for you. Think if it will work for you.
On Jun 6, 2011, NeedyDiddy Said:
I'm looking for a low interest credit card from a Canadian bank, and I would appreciate you suggest a credit card with less than 12% interest. I don't need a high credit limit, and about $5,000 will do.
On Jun 6, 2011, jonathanpaul Said:
Go for the secured credit card. The secured credit card uses cash deposit as collateral. Most of the banks will approve this application. Keep in mind that you still have to pay your bills on time and in full to build good credit history.
On Jun 6, 2011, Jean Karla Said:
You can apply for unsecured Visa
or MasterCard
if this is going to be your first credit card. Just go to any of the big Canadian banks like RBC or BMO and apply there. On the credit card application ask for a low credit limit ($500 to $1,000). Make sure that the credit card you are applying for has no yearly fees (a lot of cards do). Don't overspend on the card if you cannot afford to pay it back at the end of the month in full. Always pay your credit card bills on time, and in a few months you should be able to increase your credit limit.
On Jun 6, 2011, CashMeLow Said:
What is a good credit card for 22 year old? I want to build good credit. Any suggestions.
On Jun 5, 2011, Payden S Said:
I find that the Canadian banks say they have low interest credit cards however most of them have 11.9% as their lowest interest rate. This is because they want to give you a secured line of credit at a much lower interest rate. In that sense, the Capital One card that has teh 5.99% rate is much better.

I don't have collateral to give to a Canadian bank to get a secured line of credit, so that doesn't apply to me. I think the Cap One card are more flexible in this regard.
On Jun 5, 2011, Jean Karla Said:
Low interest rate credit cards have known to be the best credit cards for persons who belong to the category credit users. Credit users are credit card holders who use the credits that they have for any business transactions. Usually, these credit cards users don’t pay off completely the balance that they are due for. They would make partial payment of it and allow interest charges to be applied on the total amount of payables that needs to be settled.

Check out the Capital One SmartLine Platinum MasterCard
On Jun 4, 2011, CCVideo Said:
I just saw a good video about low interest credit cards in Canada on youtube.com

bobzippy said the following comment: this is interesting... i didn't know that there were lower interest rates than 14% in Canada.. I guess it goes to show you that you should shop around.
On Jun 3, 2011, dominique27 Said:
How much credit do i need to have to be able to qualify for a low interest card specifically the Capital One SmartLine™ Platinum MasterCard?
On Jun 3, 2011, Monty Loree Said:
Low interest credit cards are one of my favorite cards.. this is a card that helps the customer pay off their debt faster. You need good credit to get a low interest card, so that is something you should aspire to... if you can switch from a 18.99% high interest to a 5.99% low interest, you will save a pile of money and be able to pay off your cards faster.

I always advise that people try to get one of these cards. Check out the Capital One - SmartLine™ Platinum MasterCard.. this card has a 5.99% rate...

If you carry a balance, then it's time you paid it off faster, and saved money along the way!
On Jun 2, 2011, jonathanpaul Said:
Low interest credit cards offer extremely low rates of interest on balance transfers from other credit card or new purchases over an introductory period. Some providers of low interest credit cards will even go so far as to charge you 0% interest for an introductory period of one year.
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