Balance Transfer Credit Cards

A balance transfer is the act of moving high interest debt from one card to another card with a lower interest rate. The result is lower interest payments and the ability to pay down the debt faster. Before you apply, be sure to have your existing account details ready as you will want to request a balance transfer with your application. Be sure to read the fine print on the application page for details of each balance transfer offer.

  • Transferring high interest debt to a low rate card can help cut your debt quickly.
  • Take advantage of low or 0% introductory rate offers to save even more on your existing balances.
  • Some cards require a fee to transfer a balance to a new card. Make sure the interest savings outweighs the fee.
Showing 1 - 7 of 11 cards | View All
  • Standard Annual Interest Rates of 12.99% on eligible purchases, 12.99% on balance transfers✪and access cheques, and 24.99% on cash advances
  • No annual fee
  • You could get a 0% promotional annual interest rate (“AIR”)† for 6 months on balance transfers✪ completed within 90 days of account opening, with a fee of 1% of the amount advanced (minimum fee of $7.50). Limited time offer, apply online by December 31, 2018.
  • Around-the-clock fraud protection
  • Access to 24/7 customer service
  • Immediate cash access at over 1 million ATMs internationally
  • Legal disclosures
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Annual Fee Purchase APR Balance Transfer APR Cash Advance APR
$0 12.99% 0% for 6 months 24.99%
MBNA True Line® Mastercard® credit card
  • Standard Annual Interest Rates of 12.99% on eligible purchases, 12.99% on balance transfers✪and access cheques, and 24.99% on cash advances
  • No annual fee
  • You could get a 0% promotional annual interest rate (“AIR”)† for 6 months on balance transfers✪ completed within 90 days of account opening, with a fee of 1% of the amount advanced (minimum fee of $7.50). Limited time offer, apply online by December 31, 2018.
  • Full credit card details
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Annual Fee:
$0
APR:
12.99%
Balance Transfer:
0% for 6 months
Cash Advance:
24.99%
Apply Now
  • Standard Annual Interest Rates of 8.99% on purchases, 8.99% on balance transfers✪ and access cheques, and 24.99% on cash advances
  • $39 annual fee
  • You could get a 0% promotional annual interest rate (“AIR”)† for 6 months on balance transfers✪ completed within 90 days of account opening, with a fee of 1% of the amount advanced (minimum fee of $7.50). Limited time offer, apply online by December 31, 2018.
  • A suite of comprehensive insurance**
  • Around-the-clock-fraud protection
  • Access to 24/7 customer service
  • Legal disclosures
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Annual Fee Purchase APR Balance Transfer APR Cash Advance APR
$39 8.99% 0% for 6 months 24.99%
MBNA True Line® Gold Mastercard® credit card
  • Standard Annual Interest Rates of 8.99% on purchases, 8.99% on balance transfers✪ and access cheques, and 24.99% on cash advances
  • $39 annual fee
  • You could get a 0% promotional annual interest rate (“AIR”)† for 6 months on balance transfers✪ completed within 90 days of account opening, with a fee of 1% of the amount advanced (minimum fee of $7.50). Limited time offer, apply online by December 31, 2018.
  • Full credit card details
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Annual Fee:
$39
APR:
8.99%
Balance Transfer:
0% for 6 months
Cash Advance:
24.99%
Apply Now
Simplycash Card
  • 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
  • The preferred rate for purchases is 19.99% and funds advances is 22.99%. If you have Missed Payments, the applicable rates for your account will be 23.99% and/or 26.99%.
  • 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.
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Annual Fee Purchase APR Balance Transfer APR Cash Advance APR
$0 19.99% 1.99% for 6 months* 22.99%
Simplycash Card
SimplyCashTM Credit Card from American Express
  • 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
  • Full credit card details
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Annual Fee:
$0
APR:
19.99%
Balance Transfer:
1.99% for 6 months*
Cash Advance:
22.99%
Apply Now
Scotiabank Value Visa Card
  • 0.99% introductory interest rate on balance transfers for the first 6 months*
  • Save hundreds of dollars in interest a year
  • Low 11.99% 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.
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Annual Fee Purchase APR Balance Transfer APR Cash Advance APR
$29 11.99% 0.99% on balance transfers for the first six months. 11.99%
Scotiabank Value Visa Card
Scotiabank Value® VISA* Card
  • 0.99% introductory interest rate on balance transfers for the first 6 months*
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Annual Fee:
$29
APR:
11.99%
Balance Transfer:
0.99% on balance transfers for the first six months.
Cash Advance:
11.99%
Apply Now
Scotia Momentum VISA Card
  • 2.99% introductory interest rate on balance transfers for the first 6 months*
  • 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.
  • Note: A 1% Promotional Rate Fee (minimum fee of $3.50) will be charged on the amount of any promotional rate cash advances (which includes balance transfer, Scotia® Credit Card Cheque and cash-like transactions).
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Annual Fee Purchase APR Balance Transfer APR Cash Advance APR
First year free then $39 19.99% 2.99% on balance transfers for 6 months 22.99%
Scotia Momentum VISA Card
Scotia Momentum® VISA* Card
  • 2.99% introductory interest rate on balance transfers for the first 6 months*
  • Cash back with low annual fee
  • 2% on eligible gas station, grocery store and drug store purchases and recurring bill payments
  • Full credit card details
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Annual Fee:
First year free then $39
APR:
19.99%
Balance Transfer:
2.99% on balance transfers for 6 months
Cash Advance:
22.99%
Apply Now
Best Western Mastercard® credit card
  • Earn 1 Best Western Rewards® point for every $1 in eligible purchases‡
  • Earn 5 Best Western Rewards® points for every $1 in eligible purchases at Best Western properties‡
  • Earn 20,000 Best Western Rewards® points†† on your first purchase – enough for a free night stay
  • You will be awarded "Gold Status" upon first use of your credit card and "Diamond Status" when you spend $10,000 in eligible purchases within one year◊◊
  • No limit to the Best Western Rewards® points that can be earned using the credit card in a year
  • Use your Best Western Rewards® points in many ways – hotel stays, dining, gift cards and more.
  • You could get a 1.99% promotional annual interest rate (“AIR”)† for 10 months on balance transfers✪ [completed within 90 days of account opening], with a fee of 1% of the amount advanced (minimum fee of $7.50)
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Annual Fee Purchase APR Balance Transfer APR Cash Advance APR
$0 19.99% 1.99% on balance transfers for the first 10 months 24.99%
Best Western Mastercard® credit card
Best Western Mastercard® credit card
  • Earn 1 Best Western Rewards® point for every $1 in eligible purchases‡
  • Earn 5 Best Western Rewards® points for every $1 in eligible purchases at Best Western properties‡
  • Earn 20,000 Best Western Rewards® points†† on your first purchase – enough for a free night stay
  • Full credit card details
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Annual Fee:
$0
APR:
19.99%
Balance Transfer:
1.99% on balance transfers for the first 10 months
Cash Advance:
24.99%
Apply Now
No-Fee Scotiabank Value VISA card
  • 3.99% introductory interest rate on balance transfers for the first 6 months*
  • 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.
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Annual Fee Purchase APR Balance Transfer APR Cash Advance APR
$0 16.99% 3.99% on balance transfers for 6 months 16.99%
No-Fee Scotiabank Value VISA card
No-Fee Scotiabank Value® VISA* card
  • 3.99% introductory interest rate on balance transfers for the first 6 months*
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Annual Fee:
$0
APR:
16.99%
Balance Transfer:
3.99% on balance transfers for 6 months
Cash Advance:
16.99%
Apply Now

How to choose a balance transfer credit card

As the name suggests, a "balance transfer" allows you to transfer your outstanding balance owed to your current credit card issuer to another credit card at a lower interest rate. Balance transfers effectively reduce the amount of interest you pay while carrying a monthly balance on your credit card.

So in a nutshell, balance transfers save money. By reducing your interest payments, more of your monthly payments can go towards paying down the balance. This also means you’ll be debt-free sooner.

When evaluating balance transfer offers, there’s a few key points to pay attention to:

  • Introductory rate: The “teaser” rate offered by the bank to entice you to sign up. The lower the rate, the better. Balance transfer credit cards usually range from 0% to 9.99% when it comes to introductory rates.
  • Introductory period: Next, find out how long you will receive the introductory rate. Longer is better. You will have more time to pay down your debt at the low rate. Be aware that often the purchase APR is different from the balance transfer APR. You might get a low rate for 12 months on balance transfers, but a regular rate on purchases.
  • Balance transfer fees: Most, if not all, credit card companies charge a fee for transferring a balance. Normally, this is a percentage of the total amount you transfer, usually between 1% and 3%. Crunch the numbers to make sure you’ll come out ahead. Most of the time the interest savings outweighs the fee.
  • Regular rate: Find out what your regular rate, or “go-to” rate will be after the intro period ends. This is a good way to prepare for what’s next. Also be aware that any new purchases will be at this rate.

Getting the most out of a balance transfer requires a plan. The goal is to pay down your debt as quickly as possible during the introductory period. As you work to reduce your debt don’t take on new expenses. Be prepared for what happens when the into rate expires so there’s no surprises.