Balance Transfer Credit Cards

Balance transfer credit cards are designed to help people save money by letting them transfer high interest balances to an introductory 0% interest or low-interest credit card so that it eliminates you of potential interest charges, which can be quite expensive over months. Transferring balances to a credit card with 0 interest for 12 months can provide substantial savings. If you have $10,000 in credit card debt and are paying an interest rate of 15%, you can save around $1,500 on interest charges over the next 12 months. Your Savings = Your Debt * High Interest Rate – Transfer Fee.

Most credit cards charge a one-time transaction fee for balance transfers, which is minimal compared to the interest charges that you may have saved over the next few months. If you’re carrying a large credit card balance each month, it’s well worth your time and effort to check out these best Canadian balance transfer credit cards. Check out the most popular Canadian balance transfer credit cards that stand out.

Credit CardsPurchase APRTransfer InfoAnnual Fee Credit Level
Back to top
Scotiabank Value® Visa* Card

12.99% APR

0.99% intro APR
for 6 months

12.99% APR after that

$29

Good CreditApply NowView Card Details
  • 0.99% introductory interest rate on balance transfers for the first 6 months (12.99% after that; annual fee $29)◊
  • Save hundreds of dollars in interest a year
  • Low 12.99% interest rate
  • Pay down balances faster
  • Simplify your monthly payments
  • Rates, fees and other information are effective as of February 1, 2018. Subject to change.
No-Fee Scotiabank Value® Visa* Card

16.99% APR

3.99% intro APR
for 6 months

16.99% APR after that

$0

Good CreditApply NowView Card Details
  • 3.99% introductory interest rate on balance transfers for the first 6 months (16.99% after that)◊
  • A great low rate with no annual fee
  • Pay down balances faster
  • Simplify your monthly payments
  • Rates, fees and other information are effective as of February 1, 2018. Subject to change.
Scotia Momentum® Visa* Card

19.99% APR

2.99% intro APR
for 6 months

22.99% APR after that

$39

Good CreditApply NowView Card Details
  • 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)◊
  • Cash back with low annual fee
  • 2% on eligible gas station, grocery store and drug store purchases and recurring bill payments
  • 1% cash back on all other eligible everyday purchases
  • Rates, fees and other information are effective as of February 1, 2018. Subject to change.
American Express® AIR MILES®* Platinum Credit Card

19.99% APR

1.99% intro APR
for 6 months

22.99% APR after that

$65

Excellent, Good CreditApply NowView Card Details
  • New American Express® AIR MILES®* Platinum Credit Card Cardmembers, earn a Welcome Bonus of 2,000 AIR MILES®* Reward Miles when you charge a total of $1,500 in purchases to your Card within your first three months of Cardmembership. That's enough for a select flight
  • Earn 1 Mile for every $10 in Card purchases at eligible AIR MILES®* Partners * Excludes purchases made at airmilesshops.ca
  • Earn 1 Mile for every $10 in Card purchases at AIR MILES®* Partners and at other eligible grocery stores, gas stations, and drugstores in Canada
  • Plus, earn 1 Mile for every $15 in Card purchases everywhere else
  • Optional Balance Transfer Offer - Enjoy a 1.99% interest rate in the first 6 months of Cardmembership if you choose to transfer your other credit card balances to this American Express card
  • Balance Transfer option is only available at time of online application. There is no balance transfer fee at time of application
  • Shop at participating AIR MILES®* Partners®* across Canada with your Card and show your AIR MILES®* Card, and you can earn reward miles twice
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply
SimplyCash™ from American Express

19.99% APR

1.99% intro APR
for 6 months

22.99% APR after that

$0

Excellent, Good CreditApply NowView Card Details
  • New SimplyCash™ Card from American Express Cardmembers can earn 2.5% cash back on purchases (up to $150 cash back) for the first 3 months of Cardmembership.
  • Earn 1.25% cash back on purchases when your Welcome Rate ends
  • No limit to the amount of cash back you can earn after your Welcome Rate ends
  • Optional Balance Transfer Offer - Enjoy a 1.99% interest in first 6 months of Cardmembership if you choose to transfer your other credit card balances to this American Express card
  • Balance Transfer option is only available at time of online application. There is no balance transfer fee at time of application
  • Access to memorable experiences with American Express Invites®
  • Insurance coverage and 24/7 Customer Service
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply
SimplyCash™ Preferred from American Express

19.99% APR

1.99% intro APR
for 6 months

22.99% APR after that

$99

Excellent, Good CreditApply NowView Card Details
  • New SimplyCash™ Preferred Card from American Express Cardmembers can earn 5% cash back on all eligible purchases (up to $300 cash back) for the first 6 months of Cardmembership
  • Earn 2.0% cash back when your Welcome Rate ends
  • Optional Balance Transfer Offer - Enjoy a 1.99% interest in first 6 months of Cardmembership if you choose to transfer your other credit card balances to this American Express card
  • Balance Transfer option is only available at time of online application. There is no balance transfer fee at time of application
  • No limit to the amount of cash back you can earn after your Welcome Rate ends
  • Access to memorable experiences with American Express Invites®
  • Extensive insurance coverage and 24/7 Customer Service
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply
American Express® AIR MILES®* Reserve Credit Card

19.99% APR

1.99% intro APR
for 6 months

22.99% APR after that

$299

Excellent, Good CreditApply NowView Card Details
  • New American Express® AIR MILES®* Reserve Credit Card Cardmembers, earn a Welcome Bonus of 2,400 AIR MILES®* Reward Miles when you charge a total of $3,000 in purchases to your Card within your first three months of Cardmembership. That's enough for two select flights
  • Your ticket to the World of Onyx™ - Receive automatic Onyx™ status
  • Once a year, when you redeem for a round-trip economy flight within the AIR MILES Flight Program, up to a maximum of 1,700 Reward Miles, you can receive a Companion Flight for your companion to travel with you for the same itinerary (offer excludes service charges if applicable and taxes)
  • Earn 1 Mile for every $10 in Card purchases at eligible AIR MILES®* Partners *Excludes purchases made at airmilesshops.ca
  • Earn 1 Mile for every $10 in Card purchases at other eligible grocery stores, gas stations, and drugstores in Canada
  • Plus, earn 1 Mile for every $15 in Card purchases everywhere else
  • Receive four complimentary visits per year to Priority Pass Worldwide Lounges and access to the Toronto Pearson Priority Security Lane
  • Through AIR MILES®* FlexFly™ Redemptions, you can access additional airlines and destinations, departure times,
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply
  • 0.99% introductory interest rate on balance transfers for the first 6 months (12.99% after that; annual fee $29)◊
  • Save hundreds of dollars in interest a year
  • Low 12.99% interest rate
  • Pay down balances faster
  • Simplify your monthly payments
  • Rates, fees and other information are effective as of February 1, 2018. Subject to change.
  • 3.99% introductory interest rate on balance transfers for the first 6 months (16.99% after that)◊
  • A great low rate with no annual fee
  • Pay down balances faster
  • Simplify your monthly payments
  • Rates, fees and other information are effective as of February 1, 2018. Subject to change.
  • 2.99% introductory interest rate on balance transfers for the first 6 months (22.99% after that; annual fee $39)◊
  • Cash back with low annual fee
  • 2% on eligible gas station, grocery store and drug store purchases and recurring bill payments
  • 1% cash back on all other eligible everyday purchases
  • Rates, fees and other information are effective as of February 1, 2018. Subject to change.
  • New American Express® AIR MILES®* Platinum Credit Card Cardmembers, earn a Welcome Bonus of 2,000 AIR MILES®* Reward Miles when you charge a total of $1,500 in purchases to your Card within your first three months of Cardmembership. That's enough for a select flight
  • Earn 1 Mile for every $10 in Card purchases at eligible AIR MILES®* Partners * Excludes purchases made at airmilesshops.ca
  • Earn 1 Mile for every $10 in Card purchases at AIR MILES®* Partners and at other eligible grocery stores, gas stations, and drugstores in Canada
  • Plus, earn 1 Mile for every $15 in Card purchases everywhere else
  • Optional Balance Transfer Offer - Enjoy a 1.99% interest rate in the first 6 months of Cardmembership if you choose to transfer your other credit card balances to this American Express card
  • Balance Transfer option is only available at time of online application. There is no balance transfer fee at time of application
  • Shop at participating AIR MILES®* Partners®* across Canada with your Card and show your AIR MILES®* Card, and you can earn reward miles twice
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply
  • New SimplyCash™ Card from American Express Cardmembers can earn 2.5% cash back on purchases (up to $150 cash back) for the first 3 months of Cardmembership.
  • Earn 1.25% cash back on purchases when your Welcome Rate ends
  • No limit to the amount of cash back you can earn after your Welcome Rate ends
  • Optional Balance Transfer Offer - Enjoy a 1.99% interest in first 6 months of Cardmembership if you choose to transfer your other credit card balances to this American Express card
  • Balance Transfer option is only available at time of online application. There is no balance transfer fee at time of application
  • Access to memorable experiences with American Express Invites®
  • Insurance coverage and 24/7 Customer Service
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply
  • New SimplyCash™ Preferred Card from American Express Cardmembers can earn 5% cash back on all eligible purchases (up to $300 cash back) for the first 6 months of Cardmembership
  • Earn 2.0% cash back when your Welcome Rate ends
  • Optional Balance Transfer Offer - Enjoy a 1.99% interest in first 6 months of Cardmembership if you choose to transfer your other credit card balances to this American Express card
  • Balance Transfer option is only available at time of online application. There is no balance transfer fee at time of application
  • No limit to the amount of cash back you can earn after your Welcome Rate ends
  • Access to memorable experiences with American Express Invites®
  • Extensive insurance coverage and 24/7 Customer Service
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply
  • New American Express® AIR MILES®* Reserve Credit Card Cardmembers, earn a Welcome Bonus of 2,400 AIR MILES®* Reward Miles when you charge a total of $3,000 in purchases to your Card within your first three months of Cardmembership. That's enough for two select flights
  • Your ticket to the World of Onyx™ - Receive automatic Onyx™ status
  • Once a year, when you redeem for a round-trip economy flight within the AIR MILES Flight Program, up to a maximum of 1,700 Reward Miles, you can receive a Companion Flight for your companion to travel with you for the same itinerary (offer excludes service charges if applicable and taxes)
  • Earn 1 Mile for every $10 in Card purchases at eligible AIR MILES®* Partners *Excludes purchases made at airmilesshops.ca
  • Earn 1 Mile for every $10 in Card purchases at other eligible grocery stores, gas stations, and drugstores in Canada
  • Plus, earn 1 Mile for every $15 in Card purchases everywhere else
  • Receive four complimentary visits per year to Priority Pass Worldwide Lounges and access to the Toronto Pearson Priority Security Lane
  • Through AIR MILES®* FlexFly™ Redemptions, you can access additional airlines and destinations, departure times,
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply
Subscribe to our latest articles, news, and promotions!
Leave a Reply, And Voice Yourself

Please enter your name
Please enter your email