Scotia Momentum® Visa Infinite +* CardScotia Momentum® Visa Infinite +* Card•15% cash back on up to $2,000 in purchases + No annual fee in the first year*
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Low Interest

Best Low-Interest Credit Cards in Canada - September 2026

Compare credit cards with low purchase and balance-transfer interest rates. Cut the cost of carrying a balance with the best low-interest cards in Canada.

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TD First Class Travel® Visa Infinite* Card
TDTD RewardsFirst-Year Annual Fee Rebate
Annual fee
$0 $139
No annual fee the first year
Our valuation
$1,039
Milesopedia first-year estimateFirst-year valueWelcome bonus$800Annual fee rebated$139Annual credit$100Total$1,039Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
Welcome offer
Up to 160,000 points
+ First Year Annual Fee Rebate
Apply Now

on TD's website

With the TD First Class Travel® Visa Infinite* Card, you can earn up to 160,000 TD Rewards Points† as well as an Annual Fee rebate for the first year†:

  • 20,000 TD Rewards Points for the first purchase made with your card†
  • 140,000 TD Rewards Points when you spend $7,500 within 180 days of account opening†
  • A Birthday Bonus of up to 10,000 TD Rewards Points†

Get an annual TD Travel Credit† of $100 when you book at Expedia® For TD, and enjoy your time at the airport with global airport lounge access and 4 complimentary lounge visits with Visa Airport Companion Program (a value of up to $277)†.

With the TD First Class Travel® Visa Infinite* Card, you earn:

  • 8 TD Rewards Points† for every $1 you spend when you book travel through Expedia® For TD†
  • 6 TD Rewards Points† per dollar on your grocery, dining and public transit purchases
  • 4 TD Rewards Points† per dollar on your recurring bill payments and purchases of streaming services as well as digital games and media
  • 2 TD Rewards Points† per dollar on all other purchases made with your card

This card also allows you to enjoy a range of travel benefits, including an annual travel credit, complimentary airport lounge visits, and a birthday bonus that boosts your points each year†.

Legal

†Terms and conditions apply.

Annual fee

Primary card$139
Additional card$50

Annual income required

Individual$60,000
Household$100,000

Conversion fees

2.5%

Earning rate

  • 6xGroceries
  • 6xRestaurants
  • 6xTransit
  • 4xBills & recurring payments
  • 4xStreaming
  • 2xAll spending

Value

1st Year Value$1,406
2nd Year Value$531

Card benefits

Concierge service24/7
Airport lounge access$160

Travel insurance

Travel medical (under 55)Up to $2,000,000 / 21 days
Travel medical (55-64)Up to $2,000,000 / 21 days
Travel medical (65+)Up to $2,000,000 / 4 days
Trip CancellationUp to $1,500
Trip InterruptionUp to $5,000
Delayed BaggageUp to $1,000
Lost BaggageUp to $1,000
Flight DelayUp to $500
Hotel BurglaryUp to $2,500
Travel AccidentUp to $500,000

Purchase protection

Purchase ProtectionIncluded
Extended Warranty+1 years
Mobile DeviceUp to $1,000
Auto Rental CollisionUp to $65,000 / 48 days
TD Low Rate Visa Credit Card
TD Low Rate Visa* Credit Card
TD
Annual fee
$25
Welcome offer
No current welcome offer
Apply Now

on TD's website

Features
Issuer
TD
Network
Loyalty Program
—
Fees and terms
Annual Fee
$25/yr
Additional card
$0
Min. annual income
—
Household income
$0+
Interest rates
Purchases
12.9 %
Cash advance
12.9 %
Balance transfer
12.9 %
Foreign transaction fee
2.5 %

Issuer terms

Get a 0% promotional interest rate on Purchases for the first 6 months† from Account opening and receive an Annual Fee rebate for the first year†. Conditions Apply.

The Annual Fee Rebate applies only for the first year for the Primary Cardholder. To receive the first-year Annual Fee Rebate for the Primary Cardholder, you must apply for, activate your Card and make your first Purchase on the Account within the first 3 months after Account opening.

Read full review

Pros

  • Simple and straightforward

Cons

  • No welcome bonus
  • Modest reward rates

With the TD Low Rate Visa* Card, you can enjoy great financial flexibility for your everyday purchases.

Save on interest with a low annual interest rate of 12.90%† for residents outside Quebec and 13.90%† in Quebec on purchases and cash advances.

  • Option to purchase Travel Medical Insurance† and Trip Cancellation/Trip Interruption Insurance†.
  • Earn more Starbucks Stars at participating Starbucks® stores. Conditions Apply.

Enjoy all the benefits of your TD Low Rate Visa* Card when you use Apple Pay, Google Pay, or Samsung Pay†. These are easy and secure ways to pay.

Read full review
Scotiabank Value Visa Card
Scotiabank Value® Visa* Card
ScotiaFirst-Year Annual Fee Rebate
Annual fee
$0 $29
No annual fee the first year
Our valuation
$29
Milesopedia first-year estimateFirst-year valueAnnual fee rebated$29Total$29Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
Welcome offer
First Year Annual Fee Rebate
$29 annual fee rebated
Ends Jan 3, 2027
Apply Now

on Scotiabank's website

Features
Issuer
Scotia
Network
Loyalty Program
—
Fees and terms
Annual Fee
$29/yr
Additional card
$0
Min. annual income
$12,000+
Household income
$12,000+
Interest rates
Purchases
13.99 %
Cash advance
13.99 %
Balance transfer
13.99 %
Foreign transaction fee
2.5 %

Issuer terms

Enjoy a 0% promotional interest rate on balance transfers for the first nine months, with a 1% transfer fee. Plus, pay no annual fee for the first year1.

  • Save hundreds of dollars in interest each year
  • Low interest rate of 13.99%
  • Pay down balances faster
  • Simplify your monthly payments

Rates, fees and other information are effective as of July 2, 2026. Subject to change.

Read full review

Awards won by this card

  • 2026 Awards Best Low Interest Rate Credit Card

Pros

  • First Year Annual Fee Rebate

Cons

  • No welcome bonus
  • Modest reward rates
  • Requires good credit

The Scotia minimum Visa Card is one of the best credit cards for balance transfers in Canada.

You can get an introductory interest rate of 0% on balance transfers for the first nine months (with a 1% transfer fee). You pay no annual fee for the first year with this Visa credit card.

What’s more, this Visa credit card offers a low interest rate: 13.99% on purchases, balance transfers and cash advances.

Read full review
BMO Preferred Rate Mastercard
BMO Preferred Rate Mastercard®*
BMOFirst-Year Annual Fee Rebate
Annual fee
$0 $29
No annual fee the first year
Our valuation
$29
Milesopedia first-year estimateFirst-year valueAnnual fee rebated$29Total$29Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
Welcome offer
First Year Annual Fee Rebate
$29 annual fee rebated
Apply Now

on BMO's website

Features
Issuer
BMO
Network
Loyalty Program
—
Fees and terms
Annual Fee
$29/yr
Min. annual income
—
Interest rates
Purchases
13.99 %
Cash advance
15.99 %
Balance transfer
15.99 %
Foreign transaction fee
2.5 %

Issuer terms

Get a 0% introductory interest rate on balance transfers for 18 months (3% transfer fee applies) and a waiver of the $29 annual fee for the first year*.

  • Get the lowest interest rate: 13.99% on purchases*
  • Free* extended warranty insurance and purchase protection insurance
  • Add another cardholder for free*
  • Zero Liability Protection: You are protected against unauthorized use of your card*
  • Card acceptance at more than 30 million merchants worldwide*
  • Enjoy three months of Instacart+ membership and a $5 monthly Instacart credit when you sign up with your eligible BMO credit card*
Read full review
Purchase protection
Coverage
Purchase Protection
90 days
Extended Warranty
+1 year
Read full review

Pros

  • First Year Annual Fee Rebate

Cons

  • No welcome bonus
  • Modest reward rates

The BMO Preferred Rate Mastercard®* is an excellent option for those who want to reduce interest charges or pay off a balance faster.

With this offer, you get a 0% introductory interest rate on balance transfers for 18 months, with a 3% transfer fee and no annual fee for the first year.*

The card also offers BMO’s lowest interest rate, at 13.99% on purchases, which may be appealing if you occasionally carry a balance on your card.*

With the BMO Preferred Rate Mastercard®*, you also get…

Read full review
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Low-interest credit cards trade flashy rewards for the lowest possible purchase APR — typically 8% to 13% — making them a smart pick if you carry a balance month-to-month.

Who Should Get One?

If you regularly pay only the minimum or expect a large purchase you can’t fully repay in one cycle, a low-interest card almost always saves you more than rewards points would generate.

What to Compare

Look at the purchase APR (your day-to-day rate), the balance-transfer rate (often promotional, then standard), and any annual fee — a $39 fee can be worth it if it shaves several percentage points off your APR.

FAQ

Frequently Asked Questions

What is a low-interest credit card?

A credit card with a purchase APR well below the typical 19.99–20.99% range — usually 8% to 13%. They’re designed for people who carry a balance and want to minimize interest charges, not maximize rewards.

Are low-interest cards worth it if I pay my balance in full?

No. If you always pay your statement balance, the APR never applies and you should pick a rewards card instead — you’ll come out ahead by hundreds per year.

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