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Best Low Interest Credit Cards Canada
27 Feb 2019

Best Low Interest Credit Cards Canada Offers

Low interest credit cards Canada, make it possible for you to spend less despite having carried your balance from one month to the next. Here is a peek into what they entail.

It is not always a guarantee that you will be able to pay back in time the amount you owe a financial company that issued a credit card to you. Unavoidable circumstances sometimes force you to carry your balance to the following month. This increases the interest that you would have to pay not to forget the original amount as well. If you are a Canadian, the low interest credit cards Canada offer helps save money. This sees to it that you do not end up using most if not all of your money in payment. It gives you peace of mind knowing that you do not have to cut down on your spending but rather maintain your lifestyle.

What low interest credit cards Canada entail?

Credit cards with low interest usually charge between 7 and 14 percent annual percentage rate. It should be noted that most credit card companies offer cards with a rate of between 16 and 19 percent. With this in mind, it would be in your best interest to go for a card with a lower interest rate as you will have spent a substantially less amount. Whenever looking for a credit card, therefore, never overlook the interest rate as it is the only way you can be able to know if you will afford the card or not. The less the interest the more convenient it would be for you when pay. A card having a low interest, however, should not be your reason to delayed your payment. The more you delay the higher the interest gets and at the end of it all repaying becomes an issue.

A peek at some of the best credit cards with low interest

Credit cards come in different types other than interest rate differentiation, it might be challenging to choose one that perfectly suits your needs. Below are some of the major credit cards offered around Canada and whose interest rates are affordable:

  • American Express Essential credit card- This is a transparent and clean card offering a fixed interest rate of 8.99%. With this credit card, you do not have to worry about changing interest rates. The rate applies to cash advances and new purchases. The best part is that the card has no annual fee.
  • Scotia Bank Value Visa – If you intend to be a cardholder of value visa expect to pay a low annual fee of $29 and a competitive interest rate of 12.99 %. The low rate is accompanied by promotions that are as well low. The card offers you a chance to save a substantial amount of money in a year as compared to many other cards available.
  • Low Rate Guaranteed Master Card from Capital One -Interest for purchase and balance transfers is as low as 14.9% and that for cash advances is 19.8%. An annual fee of $79 is part of agreement terms. All applicants for this card are approved.
  • The Desjardins Modula Visa- The credit cards offers a low-interest rate of 10.9% for both cash advances and credit card purchases. If you are a Cardholder, you get the privilege of having free mobile device insurance for the protection of your phone just in case it gets damaged or stolen. You can also earn the Desjardins Bonus dollars at a rate of 1%. You are therefore at liberty to enjoy lower credit card bills or give yourself a flight treat.

Advantages of low-interest credit cards

  • They are cost effective.
  • These credit cards offer long term low rate and rewards.
  • Some of the credit cards do not charge any handling fees.

Make the best decision of your life by choosing low-interest credit cards Canada, this will ensure that you do not experience financial constraints in the future. Get in touch with us as we answer all your questions in regards to credit cards.