Ranked by value
Best Low Interest Credit Cards in Canada (July 2026)
Cards with the lowest purchase APR for carrying a balance. 11 cards, ranked. Every figure cites the official issuer page. Updated 2026-07-29.
The best low interest credit cards in Canada right now is the Scotiabank Platinum American Express Card from Scotiabank, which leads our value ranking of 11 cards with a $399 annual fee and 9.99% purchase APR. Cards with the lowest purchase APR for carrying a balance. We rank by the estimated real value a cardholder gets, with every figure sourced from the official issuer page and refreshed 2026-07-29. Nothing here is financial advice.
Scotiabank Platinum American Express Card
Scotiabank
Welcome value
~$800
Annual fee
$399
Purchase APR
9.99%
- Big welcome bonus worth ~$800
- Bonus covers 2× the annual fee
- Earn 3x on scene+ travel hotels and car rentals
- No foreign transaction fees
Scotiabank Platinum American Express Card
AMERICAN EXPRESSWelcome value, at a glance
Estimated CADMid-market point valuations, used only to compare cards. Not issuer-guaranteed. Confirm offers on the issuer page.
The rest of the ranking
10 more cards- 2
MBNAGold
MBNA True Line Gold Mastercard
Low interest for carrying a balance
Welcome value
—
No current offer
- Annual fee
- $39
- Purchase APR
- 10.99%
6.6Cited · verified 2026-06-17View → - 3
TD Canada Trust
TD Business Select Rate Visa Card
For business spending
Welcome value
—
No current offer
- Annual fee
- No fee
- Purchase APR
- 11.99%
6.7Cited · verified 2026-06-13View → - 4
TD Low Rate Visa* Card
Low interest for carrying a balance
Welcome value
—
No current offer
- Annual fee
- —
- Purchase APR
- 12.90%
6.6Cited · verified 2026-06-13View → - 5
American Express
American Express EssentialTM Credit Card
Low interest for carrying a balance
Welcome value
—
No current offer
- Annual fee
- No fee
- Purchase APR
- 12.99%
6.6Cited · verified 2026-06-13View → - 6
CIBC
CIBC Aeroplan Visa Business Card
For business spending
Welcome value
~$1575
Apply and earn up to $2,500 in value, which includes up to 75,000 Aeroplan points
- Annual fee
- $180
- Purchase APR
- 12.99%
8.6Cited · verified 2026-06-13View → - 7
MBNA True Line Mastercard
Low interest for carrying a balance
Welcome value
—
No current offer
0% promotional annual interest rate for 12 months on balance transfers
- Annual fee
- No fee
- Purchase APR
- 12.99%
6.6Cited · verified 2026-06-17View → - 8
RBC Royal BankClassic
RBC Visa Classic Low Rate
Low interest for carrying a balance
Welcome value
—
No current offer
Offer Available: $20 Annual Fee Waiver
- Annual fee
- $20
- Purchase APR
- 12.99%
6.5Cited · verified 2026-06-13View → - 9
BMO
BMO Preferred Rate Mastercard
Low interest for carrying a balance
Welcome value
—
No current offer
Get a 0% introductory interest rate on Balance Transfers for 18 months
- Annual fee
- $29
- Purchase APR
- 13.99%
6.5Cited · verified 2026-06-13View → - 10
Scotiabank
Scotiabank Value Visa Card
Low interest for carrying a balance
Welcome value
—
No current offer
Offer until Oct 310.99% introductory balance transfer rate for first 9 months + first year annual fee waived
- Annual fee
- $29
- Purchase APR
- 13.99%
6.4Cited · verified 2026-06-13View → - 11
TD Aeroplan Visa Business Card
For business spending
Welcome value
~$1260
Up to $1,900 in value including up to 60,000 Aeroplan points and first-year annual fee rebate
- Annual fee
- $149
- Purchase APR
- 14.99%
8.6Cited · verified 2026-06-13View →
Frequently asked
- What is the best low interest credit cards in Canada?
- Based on our value ranking, the Scotiabank Platinum American Express Card from Scotiabank currently leads this category, with a $399 annual fee and 9.99% purchase APR. Rankings update daily.
- How are these cards ranked?
- We rank by estimated real value for the category, computed from the welcome offer, earn rates, annual fee, and benefits. Every figure is pulled from the official issuer page, never an affiliate feed.
- How current is this information?
- Fees, rates, and offers are checked regularly against the official issuer pages. This page was last updated 2026-07-29. Always confirm details on the issuer's site before applying.
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