Best National Bank Low Interest Credit Cards in Canada

If there’s a chance you’ll carry any credit card debt from month-to-month, you may want to have a low interest credit card in your wallet. Check out this list of the best low interest credit cards in Canada, find the right one for you and apply today, so you can stop paying hefty interest charges.

Credit Cards that are eligible for a promotional offer are marked throughout the comparison chart with a promotional offer icon such as or . Click this box to show only Credit Cards that contain free promotional offers. For gift card FAQs and Terms & Conditions click here.
Some credit cards come with an annual fee and some do not. The general rule for this is that the greater the rewards, the larger the annual fee. The annual fee is charged once per year and is added to your credit card statement. If you don't mind paying an annual fee, select I don't mind. If you'd prefer not to pay to use a credit card, select None. Some rewards credit cards have an annual income requirement. Enter either your personal or household annual income here, as it may affect which credit cards you are able to apply for.

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 What type of rewards do you want to earn for every dollar you spend? Is cash back important to you? Would you prefer gift cards or store credit? What about free flights and hotels? Think about what's most important to you and what would help your budget the most, then look for the best cards to offer that reward. Do you have a preference of whether you want a Visa, MasterCard or American Express card? Select which network you'd prefer, or select "All" if you don't have a preference.
There are a number of lenders and companies that issue credit cards - and they aren't just financial institutions. If you would prefer to get a credit card from one specific credit card issuer, choose the one you want. Otherwise, select All banks. Most credit cards have a minimum credit score requirement. Select your credit score to filter your credit card results based on your credit score and which cards you are most likely to be approved for. If you aren’t sure what your credit score is, select “Not sure”, and your results will be filtered without taking your credit score in to account. There are many different credit card reward programs available. If you have a preferred reward program, such as Aeroplan Miles, select your choice using the dropdown. Note that each card only uses one reward program. Enter the dollar amount you spend each month on your credit card. Edit your monthly spend by each spending category in the 'monthly spending by category' tab below.

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Some credit cards come with an annual fee and some do not. The general rule for this is that the greater the rewards, the larger the annual fee. The annual fee is charged once per year and is added to your credit card statement. If you don't mind paying an annual fee, select I don't mind. If you'd prefer not to pay to use a credit card, select None. Some rewards credit cards have an annual income requirement. Enter either your personal or household annual income here, as it may affect which credit cards you are able to apply for.

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 Do you carry a balance on your credit card each month? This isn't how much you spend on your card, but how much you typically carry over into a new month. If so, write that amount here, so we can calculate how much interest you'll be charged.

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There are a number of lenders and companies that issue credit cards - and they aren't just financial institutions. If you would prefer to get a credit card from one specific credit card issuer, choose the one you want. Otherwise, select All banks. Most credit cards have a minimum credit score requirement. Select your credit score to filter your credit card results based on your credit score and which cards you are most likely to be approved for. If you aren’t sure what your credit score is, select “Not sure”, and your results will be filtered without taking your credit score in to account. Do you have a preference of whether you want a Visa, MasterCard or American Express card? Select which network you'd prefer, or select "All" if you don't have a preference.
Some credit cards come with an annual fee and some do not. The general rule for this is that the greater the rewards, the larger the annual fee. The annual fee is charged once per year and is added to your credit card statement. If you don't mind paying an annual fee, select I don't mind. If you'd prefer not to pay to use a credit card, select None. Some rewards credit cards have an annual income requirement. Enter either your personal or household annual income here, as it may affect which credit cards you are able to apply for.

Update results

Hit enter or click outside the box to refresh your results
 Do you have a preference of whether you want a Visa, MasterCard or American Express card? Select which network you'd prefer, or select "All" if you don't have a preference.
There are a number of lenders and companies that issue credit cards - and they aren't just financial institutions. If you would prefer to get a credit card from one specific credit card issuer, choose the one you want. Otherwise, select All banks. Most credit cards have a minimum credit score requirement. Select your credit score to filter your credit card results based on your credit score and which cards you are most likely to be approved for. If you aren’t sure what your credit score is, select “Not sure”, and your results will be filtered without taking your credit score in to account. If you are currently carrying a balance on another credit card, you may want to take advantage of a balance transfer promotional offer with one of the credit cards listed below. Enter the amount you would transfer to the new card, to find out what the promotional interest rate and period are.

Update results

Hit enter or click outside the box to refresh your results
Some credit cards come with an annual fee and some do not. The general rule for this is that the greater the rewards, the larger the annual fee. The annual fee is charged once per year and is added to your credit card statement. If you don't mind paying an annual fee, select I don't mind. If you'd prefer not to pay to use a credit card, select None. Do you have a preference of whether you want a Visa, MasterCard or American Express card? Select which network you'd prefer, or select "All" if you don't have a preference.
There are a number of lenders and companies that issue credit cards - and they aren't just financial institutions. If you would prefer to get a credit card from one specific credit card issuer, choose the one you want. Otherwise, select All banks. Most credit cards have a minimum credit score requirement. Select your credit score to filter your credit card results based on your credit score and which cards you are most likely to be approved for. If you aren’t sure what your credit score is, select “Not sure”, and your results will be filtered without taking your credit score in to account.
Monthly spending by category
Monthly spending by category
Credit card Purchase interest rate Balance transfer rate Annual fee Net reward (1st year) Monthly interest fee Monthly interest fee Required deposit Min. required income
BMO® Preferred Rate MasterCard®
BMO® Preferred Rate MasterCard®
12.99%
Cash advance 12.99%
$ 20 $15,000.00
$5.41
 Get details
Home Trust Secured Annual Fee Visa Card
Home Trust Secured Annual Fee Visa Card
14.9%
Cash advance 19.80%
$ 59 $0.00
$6.21
 Get details
CIBC Select Visa
CIBC Select Visa
13.99%
Cash advance 13.99%
$ 29 $0.00
$5.83
 Get details
MBNA True Line® Gold Mastercard® credit card
MBNA True Line® Gold Mastercard® credit card
8.99%
Cash advance 24.99%
$ 39 $0.00
$3.75
 Get details
National Bank Syncro MasterCard®
National Bank Syncro MasterCard®
12.9%
Cash advance 12.90%
$ 35 $0.00
$5.38
 Get details
BMO Rewards® Business Mastercard®*
BMO Rewards® Business Mastercard®*
14.99%
Cash advance 22.99%
$ 120 $0.00
$6.25
 Get details
MBNA True Line® Mastercard® credit card
MBNA True Line® Mastercard® credit card
12.99%
Cash advance 24.99%
$ 0 $0.00
$5.41
 Get details
Scotiabank Value® Visa*
Scotiabank Value® Visa*
12.99%
Cash advance 12.99%
$ 29 $12,000.00
$5.41
 Get details
American Express Essential™ Credit Card
American Express Essential™ Credit Card
8.99%
Cash advance 8.99%
$ 0 $15,000.00
$3.75
 Get details
Desjardins Classic Visa
Desjardins Classic Visa
12.9%
Cash advance 12.90%
$ 30 $0.00
$5.38
 Get details
For a limited time, you will receive a promotional offer from Ratehub.ca if your application is approved. Terms and conditions apply. Click here for details.
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If you need any help comparison shopping, read our frequently asked questions below:

What is a low interest credit card?

A low interest credit card is exactly what it sounds like: a regular credit card but with a lower interest rate (typically 5-10% versus 19.99%+). The card also offers a lower interest rate on balance transfers and cash advances, which may be important to you, if those are transactions you think you’ll make on occasion. Low interest credit cards also typically have low or no annual fees, making it an accessible card regardless of your income.

Should I get a low interest credit card?

If you can’t always pay off the full balance on your credit card or if you have credit card debt, a low interest credit card can save you a lot of money in unnecessary interest charges. Don’t get fooled by enticing credit card rewards because if you can’t pay off your monthly balances, those rewards will cost you. Credit card interest compounds and accumulates quickly, so the more you’re charged the longer it’ll take you to pay off the debt. By transferring your balance to a low interest credit card, or just using one right from the start, you can save both in interest costs and potentially in the full length of time it might take you to pay off your credit card debt.

When is the best time to use a low interest credit card?

We know that low interest credit cards are helpful when you are carrying a balance on your credit card, but they are also great for making everyday purchases or for emergency expenses. With a low interest credit card, you will pay less interest than you would with a regular credit card and you’ll have the security of using the card if you need to. While we don’t recommend getting cash advances, low interest credit cards do charge a lower fee compared to other cards. Many people also use their low interest credit cards to perform balance transfers, when they transfer some or all of their balances from one card to a new low interest credit card; this allows them to have only one monthly payment at a much lower interest rate.

What is the best low interest credit card?

You would think that choosing the best low interest credit card would be straightforward since all you’d be looking at is the interest rate and the lowest would equate to the best, but that’s not quite the case because of annual fees. Although low rate credit cards have lower annual fees than rewards credit cards, you still have to do some calculations and understand your financial situation. Some of the best low interest credit cards have an annual fee; therefore you need to determine whether your savings on interest payments will outweigh the annual fee. If not, then choosing a low interest card without an annual fee might be the best option for you. Ideally though, the best low interest credit card would be one with no annual fee and the lowest interest rate!

Other Types of Credit Cards