Best Balance Transfer Credit Cards in Canada

Carrying credit card debt in 2025 can feel overwhelming, especially as interest rates continue to pressure household budgets. With the average Canadian’s non-mortgage debt hovering at approximately $21,850, more people are searching for ways to cut down expenses and gain real breathing room. Balance transfer credit cards have emerged as one of the most efficient tools since they temporarily replace high APRs with low or even 0% promotional rates. This will allow you room to pay off the principal rather than sinking money into interest. With the right usage, you can save hundreds or more with these cards in a few months. The following is a guide to the best balance transfer credit cards in Canada in 2025, how they work, and how to select the right one to suit your financial objectives.       

How Balance Transfer Credit Cards Work

A balance transfer credit card is a credit card that lets you transfer an existing debt to a new card at a promotional low interest rate, usually 0% for a limited period. This introductory period is usually 6 to 12 months, after which the standard interest rate of the card is charged (usually 12.99 to 22.99% and above).

How the process works:

• Check eligibility: The majority of issuers will want a credit score of 660+, steady income, and no recent bankruptcies. You can use free tools such as Borrowell to estimate your chances of approval.
• Apply and transfer: In your application, request the transfer. The majority of issuers complete transfers in 10-14 days, and most of them require transfers 90 days after opening the account.
• Familiarize yourself with the charges: You should anticipate a charge of 1-5 percent on the amount transferred. Quebec residents can be charged differently or waived based on the issuer.
• Pay your bills: One late minimum payment will cancel out your promotional rate, and the standard APR will take effect early.
• Stop new purchases: New charges are usually charged interest immediately, and this will undermine your payoff plan.

Balance transfers are ideal in situations where you have high-interest interest debt-anything over 20 percent APR-and a definite plan to take advantage of the promotion period. 

The Best Balance Transfer Credit Cards In Canada

These are the best choices depending on the 2025 deals and consumer-oriented comparison information data. Both options were selected based on their period of promotion, charges, and general value to the Canadians who wish to settle their debts effectively.

1. MBNA True Line Mastercard – Best for Long 0% Promo

MBNA True Line Mastercard is well known for providing one of the longest 0% interest rates in Canada.

Key Features:

• 0% intro APR on balance transfers for 12 months
  • 3% transfer fee (minimum $5)
  • 17.99% ongoing APR
  • $0 annual fee
  • 12.99% purchase rate

Advantages: 12-month-long promotion, no required minimum income, eco-friendly card design.

Why it stands out:

Transferring $10,000 would cost just a $300 fee and no interest for a full year–potentially saving over $2,000 compared with a typical 20% APR card. Perfect for anyone who is dealing with a larger balance.

2. CIBC Select Visa — Best Low-Fee Option

This card is a great value if you are concerned about keeping fees low.

Key Features:

• 0% intro APR for 10 months
  • Balance transfer fee 1% (no fee in Quebec)
  • 13.99% ongoing APR
  • Annual fee of $29, rebated during the first two years.
  • Minimum household income: $15,000

Why it stands out:

A balance transfer of $3,900 will only cost you $39 in fees- maximize your savings on the first day. An excellent choice among families or commuters who will also enjoy gas discounts.

3. RBC Visa Classic Low-Rate Option – Best Post-Promo Security   

This will be the safest option when you are not sure whether you will clear your balance within the promo period. 

Key Features:

• 0.99% intro APR for 10 months
  • 3% transfer fee
  • 12.99% ongoing APR
  • $20 annual fee (waived year one)

Why it stands out:

Your payoff plan will still have one of the lowest continuing rates in Canada even though it might take you a little longer than you thought.

4. BMO Preferred Rate Mastercard – Best for Additional Protections

This card is a combination of competitive intro offer and purchase coverage that is not available in many low-end cards.

Key Features:

• 0.99% intro APR for 9 months
  • 2% balance transfer fee
  • 15.99% ongoing APR
  • $29 annual fee

Advantages: Long warranty and a buying guarantee.

Why it stands out:

A solid alternative to users seeking low-rate debt relief and additional coverage on daily purchases.

5. Scotiabank Momentum No-Fee Visa – Best Cash-Back Earners

It is an excellent no-annual-fee card that suits smaller balances and users who would like to enjoy rewards in addition to reducing debt.

Key Features:

• 0% intro APR for 6 months
  • 2% transfer fee
  • 22.99% ongoing APR
  • $0 annual fee

Advantages: Earn cash back on gas, groceries, and recurring bills; receive a good initial bonus for spending.

Why it stands out:

This card will provide the most optimal combination of savings and value in case you have a small transferred balance and desire everyday rewards.

Many top picks, like the MBNA True Line, come with no annual fee, aligning perfectly with our guide to no-fee credit cards in Canada for 2025.

Best Balance Transfer Credit Cards in Canada at a Glance

Tips to Choose and Use a Balance Transfer Card Wisely

• Align your schedule with the promotion: 12-month deals are best with larger balances.
  • Do the math: Factor transfer costs into your savings. High APR interest is usually overridden by 0% offers, even with fees.
  • Avoid new expenditures: Use the card only to transfer money and avoid interest.
  • Keep a reminder of your deadlines: Have reminders of the payment dates and the last month of the promo.

Alternatives to consider: If your credit score is lower than the 680 range, personal lines of credit (typically 7-9 per cent) may be a more affordable option.

For broader debt strategies, check our article on how to refinance high-interest debt in Canada, which covers loans and other consolidation options.

Conclusion

By selecting one of the best balance transfer credit cards in Canada in 2025, you can save a lot of interest and pay your debt off more quickly. Whether you want a long 0% period, the lowest fees, or added perks, the Canadian market offers strong options that fit different financial needs. A balance transfer could be the fresh start you need to be on track again with regular payments and a definite payoff plan.

When you are ready to take charge, compare the current offers with your preferred bank or a reputable comparison site–and begin moving toward a debt-free future.