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 - 5 of 5 cards
  • $39 annual fee
  • Standard Annual Interest Rates of 8.99% on purchases, 8.99% on balance transfers✪ and access cheques, and 24.99% on cash advances
  • Around-the-clock-fraud protection
  • Access to 24/7 customer service
  • Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the "Apply Now" button.

✪, Terms and Conditions apply.

This offer is not available for residents of Quebec. For residents of Quebec, please click here.

Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

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Annual Fee Purchase APR Balance Transfer APR Cash Advance APR
$39 8.99% 8.99% 24.99%
MBNA True Line® Gold Mastercard® credit card
  • $39 annual fee
  • Standard Annual Interest Rates of 8.99% on purchases, 8.99% on balance transfers✪ and access cheques, and 24.99% on cash advances
  • Around-the-clock-fraud protection
  • Full credit card details
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Annual Fee:
$39
APR:
8.99%
Balance Transfer:
8.99%
Cash Advance:
24.99%
Apply Now
  • No annual fee
  • Standard Annual Interest Rates of 12.99% on eligible purchases, 12.99% on balance transfers✪, and 24.99% on cash advances
  • You could get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee.
  • Around-the-clock fraud protection
  • Use available credit on your credit card to transfer funds right to your chequing account.
  • Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the "Apply Now" button.

†, ✪, Terms and Conditions apply.

This offer is not available for residents of Quebec. For residents of Quebec, please click here.

Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

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Annual Fee Purchase APR Balance Transfer APR Cash Advance APR
$0 12.99% 0% for 12 months 24.99%
MBNA True Line® Mastercard® credit card
  • No annual fee
  • Standard Annual Interest Rates of 12.99% on eligible purchases, 12.99% on balance transfers✪, and 24.99% on cash advances
  • You could get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee.
  • Full credit card details
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Annual Fee:
$0
APR:
12.99%
Balance Transfer:
0% for 12 months
Cash Advance:
24.99%
Apply Now
  • Welcome offer: Get up to 25,000 bonus points in your first year!* Get 20,000 points when you spend $1,500 - that's a $133 value in your first 3 months!* Plus, earn up to 5,000 bonus points: - 2,500 points for setting up your digital wallet and 2,500 points for setting up pre-authorized payments in the first 3 months.*
  • Get a 0.99% introductory interest rate on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred.*
  • Earn 5x the BMO Rewards points for every $2 spent on recurring bill payments, groceries, dining and takeout.* Then get 1 point for every $2 spent on everything else!*
  • Mobile Device Insurance that covers you for up to $1,000*
  • Pay with Points by browsing your recent transactions & redeem your points for as little as $1
  • Receive a discount on car rentals*
  • Purchase Protection*
  • Extended Warranty*
  • BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information
  • *Terms and conditions apply
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Annual Fee Purchase APR Balance Transfer APR Cash Advance APR
$0 20.99% 0.99% introductory interest rate with 2% fee* 23.99% (21.99% for Quebec residents)
BMO eclipse rise Visa* Card
  • Welcome offer: Get up to 25,000 bonus points in your first year!* Get 20,000 points when you spend $1,500 - that's a $133 value in your first 3 months!* Plus, earn up to 5,000 bonus points: - 2,500 points for setting up your digital wallet and 2,500 points for setting up pre-authorized payments in the first 3 months.*
  • Get a 0.99% introductory interest rate on Balance Transfers for 9 months, 2% fee applies to balance amounts transferred.*
  • Earn 5x the BMO Rewards points for every $2 spent on recurring bill payments, groceries, dining and takeout.* Then get 1 point for every $2 spent on everything else!*
  • Full credit card details
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Annual Fee:
$0
APR:
20.99%
Balance Transfer:
0.99% introductory interest rate with 2% fee*
Cash Advance:
23.99% (21.99% for Quebec residents)
Apply Now
  • Welcome Offer: Get a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee and we'll waive the $29 annual fee for the first year*
  • Enjoy our lowest interest rate of 13.99% on purchases*
  • Free extended warranty and purchase protection*
  • Zero Dollar Liability: protects you from unauthorized use of your credit card*
  • Worldwide acceptance at over 30 million locations*
  • BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information
  • *Terms and conditions apply

*Terms and conditions apply

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Annual Fee Purchase APR Balance Transfer APR Cash Advance APR
$29 13.99% 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee 15.99%
BMO Preferred Rate Mastercard®*
  • Welcome Offer: Get a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee and we'll waive the $29 annual fee for the first year*
  • Enjoy our lowest interest rate of 13.99% on purchases*
  • Free extended warranty and purchase protection*
  • Full credit card details
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Annual Fee:
$29
APR:
13.99%
Balance Transfer:
0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee
Cash Advance:
15.99%
Apply Now
  • Earn 2% Money-Back Rewards in two 2% Money-Back Categories of your choice, and 0.50% Money-Back Rewards on all your other everyday purchases.
  • Get your Rewards deposited into your Tangerine Savings Account and get a 3rd 2% Money-Back Category.
  • No annual fee
  • Your Tangerine World Mastercard keeps you connected with access to over 1 million Wi-Fi hotspots around the world with Boingo Wi-Fi
  • With Mastercard Travel Rewards, you can unlock cashback offers and get a rebate applied directly to your statement, by using your Tangerine World Mastercard at select merchants that accept Mastercard while travelling outside of Canada
  • During your first 30 days, transfer balances and pay an interest rate of only 1.95% on the transferred balance for the first 6 months (19.95% after that). A Balance Transfer fee of 1% on the amount transferred will apply.†
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Annual Fee Purchase APR Balance Transfer APR Cash Advance APR
$0 19.95% 1.95% on Balance Transfers for six months 19.95%
Tangerine World Mastercard®
  • Earn 2% Money-Back Rewards in two 2% Money-Back Categories of your choice, and 0.50% Money-Back Rewards on all your other everyday purchases.
  • Get your Rewards deposited into your Tangerine Savings Account and get a 3rd 2% Money-Back Category.
  • No annual fee
  • Full credit card details
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Annual Fee:
$0
APR:
19.95%
Balance Transfer:
1.95% on Balance Transfers for six months
Cash Advance:
19.95%
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.