Balance Transfer · March 2026

Best Balance Transfer Credit Cards Canada 2026

Paying 19.99% interest on a credit card balance? A balance transfer to a 0% offer can save you hundreds while you pay it off. Here are Canada's best offers right now.

$480

Interest saved by transferring $5,000 at 19.99% to 0% for 12 months

No fee everyday banking

Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.

See how it works

Best Balance Transfer Offers in Canada (2026)

MBNA True Line Mastercard

0% for 12 months

0% promo rate 3% transfer fee $0 annual fee Then 12.99% ongoing

Canada's best balance transfer offer: 0% for 12 months on transferred balances, 3% transfer fee (vs up to 19.99% interest avoided). $0 annual fee. After 12 months, the ongoing rate drops to 12.99% — still well below the standard 19.99%. Best for Canadians with $3,000–$15,000 in credit card debt wanting to aggressively pay it down interest-free.

Scotiabank Value Visa

0.99% for 6 months

Near-0% promo 2% transfer fee $29 annual fee Then 12.99% ongoing

Scotiabank's Value Visa offers 0.99% on balance transfers for 6 months. Lower ongoing rate (12.99%) than most cards. Good for people who need ongoing low interest after the promo ends. $29/year fee. Decent option if you won't fully pay off within 6 months.

CIBC Select Visa

0% for 10 months

0% promo 3% transfer fee $29 annual fee Then 13.99% ongoing

CIBC Select Visa offers 0% for 10 months on balance transfers with a 3% fee and $29 annual fee. Ongoing rate of 13.99% — lower than standard cards. Good for CIBC banking customers wanting to consolidate debt.

Balance Transfer Savings Calculator

How much will you save with a balance transfer?

Balance to transfer ($)

Current interest rate (%)

$480

Interest saved over 12 months at 0% (minus 3% fee)

Frequently Asked Questions

How does a balance transfer work in Canada?

You apply for a new credit card with a balance transfer offer. When approved, you transfer your existing credit card balance to the new card. The new card pays off your old card. You now owe the new card, but at the promotional rate (0% or near-0%) instead of 19.99%. You pay the balance down during the promo period. A transfer fee (typically 1–3%) applies on the amount transferred.

Is a balance transfer worth it in Canada?

Yes, in most cases. If you have $5,000 at 19.99%, you're paying ~$1,000/year in interest. A 0% balance transfer with a 3% fee ($150) saves you ~$850 in the first year — and more if you take longer to pay. The key: make a plan to pay it off before the promo ends, or you'll be back at a high rate.

What happens when the balance transfer promo period ends?

After the promo period (6–12 months), any remaining balance reverts to the card's standard purchase rate — typically 12.99–19.99%. Always have a payoff plan before the promo ends. If you can't pay it all off, consider a low-interest credit card (like MBNA True Line at 12.99% ongoing) or a personal loan at 6.99–15% APR.

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Disclosure: Bremo earns referral commissions on KOHO signups. Credit card terms subject to change. Information as of March 2026.