Best Balance Transfer Credit Cards in Canada This November 2025
68% of Canadian credit card holders are actively seeking strategies to manage and reduce their existing card balances, making balance transfer options more critical than ever. Credit card comparisons reveal that strategic balance transfers can save consumers significant money on interest payments. According to Statista, the Canadian credit card market continues to evolve, offering increasingly competitive balance transfer solutions. This guide will help you navigate the most advantageous balance transfer credit cards available this November, providing a clear path to potential financial savings and debt management.
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Summary Table for Best Balance Transfer Credit Cards in Canada This November 2025
| Card | Annual Fee | Welcome Bonus | Best For | Apply |
|---|---|---|---|---|
|
MBNA True Line Mastercard Cash Back |
$0 | 0% interest on balance transfers for 12 months | Cash Back | Apply |
|
CIBC Select Visa Travel Rewards |
$29 | 0% balance transfer rate for 10 months | Travel Rewards | Apply |
|
Scotiabank Value Visa Cash Back |
$29 | 0.99% intro rate on balance transfers for 9 months | Cash Back | Apply |
|
BMO Preferred Rate Mastercard Cash Back |
$29 | 0.99% intro rate on balance transfers for 9 months | Cash Back | Apply |
|
Scotiabank Momentum No-Fee Visa Card Cash Back |
$0 | 5% cash back for first 3 months (up to $2,000) | Cash Back | Apply |
|
BMO Cash Back Mastercard Cash Back |
$0 | 10% cash back for first 3 months | Cash Back | Apply |
1. MBNA True Line Mastercard
The MBNA True Line Mastercard is a low-interest credit card designed for budget-conscious consumers seeking to minimize interest charges. With its competitive 12.99% standard interest rate and 0% promotional rate on balance transfers, this card offers financial flexibility without an annual fee.
MBNA True Line Mastercard
- No annual fee
- 0% promotional balance transfer rate for 12 months
- Low standard purchase interest rate of 12.99%
- Balance transfers allowed up to 90 days from account opening
Pros
- No annual fee
- Low 12.99% standard interest rate
- 0% balance transfer rate for 12 months
- Simple, straightforward credit card design
Cons
- No rewards or cashback program
- Balance transfer promotional rate limited to 12 months
- Requires good credit score (660-724)
- Limited additional benefits compared to rewards cards
Why is it Our Top Pick?
The MBNA True Line Mastercard stands out for its extremely competitive low interest rate and balance transfer offer, making it an excellent choice for consumers looking to manage existing credit card debt or minimize interest charges. Its combination of no annual fee and flexible terms provides significant value for budget-minded cardholders.
2. CIBC Select Visa
The CIBC Select Visa is a low-interest credit card designed to help consumers manage their credit expenses with a competitive interest rate and attractive balance transfer offer. With its first-year annual fee rebate and 0% introductory balance transfer rate, this card provides financial flexibility for budget-conscious individuals.
CIBC Select Visa
- 0% interest on balance transfers for 10 months
- Low 13.99% standard interest rate
- First-year annual fee rebate
- Optional travel insurance available
Pros
- Low 13.99% interest rate
- First-year annual fee rebate
- Flexible balance transfer option
- Optional travel insurance
Cons
- $29 annual fee after first year
- Limited rewards program
- Requires good credit score
- Balance transfer promotional rate limited to 10 months
3. Scotiabank Value Visa
The Scotiabank Value Visa is a low-interest credit card designed for budget-conscious Canadians seeking to minimize interest charges. With its competitive 13.99% interest rate and introductory balance transfer offer, this card provides a practical solution for managing credit card expenses.
Scotiabank Value Visa
- Low 13.99% interest rate on purchases and cash advances
- 0.99% introductory rate on balance transfers for 9 months
- Visa payWave technology for fast tap payments
- Free supplementary cards
Pros
- Lower than average interest rate
- Affordable annual fee
- Balance transfer promotional offer
- Immediate interest savings
Cons
- No rewards or cash back program
- Limited additional benefits
- Higher interest after promotional period
- No travel or purchase insurance
4. BMO Preferred Rate Mastercard
The BMO Preferred Rate Mastercard offers budget-conscious consumers a low-interest credit solution with attractive features like extended warranty protection and purchase security. Designed for those looking to minimize interest charges while enjoying essential credit card benefits.
BMO Preferred Rate Mastercard
- Low 13.99% purchase interest rate
- Extended warranty protection
- Purchase security for 90 days
- Worldwide card acceptance
Pros
- Low annual fee
- Competitive interest rates
- Extended warranty benefits
- Purchase protection
Cons
- No rewards program
- Limited additional perks
- Higher cash advance rate
- Minimal welcome bonus
5. Scotiabank Momentum No-Fee Visa Card
The Scotiabank Momentum No-Fee Visa Card offers an attractive cash back rewards program with no annual fee, making it an excellent choice for budget-conscious consumers looking to earn rewards on everyday purchases.
Scotiabank Momentum No-Fee Visa Card
- No annual fee
- 5% cash back on all purchases for first 3 months
- 0% introductory interest rate on balance transfers for 6 months
- 0.5% cash back on all other eligible purchases
Pros
- No annual fee
- Competitive cash back rates
- Introductory balance transfer offer
- Simple rewards structure
Cons
- Limited bonus categories
- Lower cash back rates after welcome bonus period
- Standard interest rates after introductory period
6. BMO Cash Back Mastercard
The BMO Cash Back Mastercard provides an attractive cash back rewards program with no annual fee, offering generous returns on grocery purchases and everyday spending.
BMO Cash Back Mastercard
- No annual fee
- 0.99% introductory interest rate on balance transfers
- 3% cash back on grocery purchases
- 1% cash back on recurring bill payments
Pros
- No annual fee
- High cash back rate on groceries
- Introductory balance transfer rate
- Flexible rewards structure
Cons
- Standard interest rates after introductory period
- Lower cash back rates on non-grocery purchases
- Cash advance fees apply
Final Words
Selecting the ideal financial product ultimately depends on your individual goals, spending patterns, and financial situation. We recommend comparing the features and benefits of our top picks, then taking action to optimize your financial strategy for the current market conditions.
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Frequently Asked Questions: Best Balance Transfer Credit Cards in Canada This November 2025
What are the lowest balance transfer credit card rates in Canada this November 2025?
The MBNA True Line Mastercard offers the most competitive balance transfer rate at 0% for 10 months with a 3% transfer fee.
Which balance transfer credit card has the best no-fee option in Canada right now?
The Scotiabank Momentum No-Fee Visa Card provides a competitive balance transfer offer with no annual fee and attractive introductory terms.
How do I qualify for the best balance transfer credit cards in Canada this November?
Most balance transfer cards like CIBC Select Visa and BMO Preferred Rate Mastercard require a minimum credit score of 650 and stable income verification.
What balance transfer credit card offers the longest promotional period in Canada?
The Scotiabank Value Visa currently provides one of the longest balance transfer promotional periods at up to 12 months with competitive rates.