Best Low Interest Credit Cards in Canada (2026)
If you tend to carry a balance, choosing one of the best low interest credit cards in Canada can help you save significantly on interest charges. Unlike rewards cards that prioritize points or cash back, low interest cards are designed to keep borrowing costs down with reduced purchase rates, balance transfer offers, and more manageable fees.
In this guide, we’ve selected the best low interest credit cards in Canada for 2026 based on interest rates, balance transfer promotions, annual fees, and overall value. Whether you’re consolidating debt or simply want a more affordable way to manage your balance, these cards can help you stay in control of your finances while minimizing interest costs.
Best Low Interest Credit Card
The Scotiabank Platinum American Express Card
Updated Mar 16, 2026 8:14 p.m. MST · 7 min read
Written by the Capital Corner Editorial Team
The Scotiabank Platinum American Express Card is one of the best low interest credit cards in Canada, offering a significantly reduced interest rate while still delivering premium travel perks—making it a rare combination of affordability and luxury.
Rating: ★★★★★ (4.9/5)
Annual Fee: $399
Interest Rates:
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9.99% on purchases
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9.99% on cash advances and balance transfers
No foreign transaction fees — save 2.5% on all purchases made outside Canada
Earn 2x Scene+ points on all purchases — simple, flat rewards on everything you spend
Best For: Cardholders carrying a balance who still want premium travel benefits
Why It Stands Out:
The Scotiabank Platinum American Express Card stands out because it combines a low ongoing interest rate—far below the typical ~20% offered by most Canadian credit cards—with premium travel features like airport lounge access, strong insurance coverage, and no foreign transaction fees. Unlike most low interest cards that offer minimal rewards, this card still earns valuable Scene+ points on every purchase, making it ideal for Canadians who want to reduce interest costs without giving up travel perks and everyday value.
Find the Best Credit Card for You — Backed by Capital Corner’s Expert Research
The best credit card isn’t one-size-fits-all — it’s the one that matches your unique lifestyle, goals, and spending habits. At Capital Corner, our team has reviewed and rated the best credit cards in Canada and the U.S. for 2025 — from high-reward travel cards and cashback champions to 0% APR offers and no-annual-fee options — so you can find the perfect fit for your wallet.
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400+ credit cards reviewed and curated with real-world value in mind
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Independent and unbiased research focused on financial literacy and empowerment
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10,000+ hours spent comparing fees, rewards, perks, and fine print
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Transparent rating criteria so you always know how cards are evaluated
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Built by financial educators who make it easy to compare, understand, and apply\
Our credit card content is created and reviewed by experienced finance professionals, not salespeople. Whether you're a student building credit, a family maximizing cashback, or a frequent flyer chasing points — Capital Corner is your trusted guide.
How we ranked Canada's best low interest credit cards
We scored over 32+ Canadian credit cards across five criteria using a simple 5-point scale. No paid placements. No guesswork — just data.
32+
Cards Reviewed
5
Scoring Criteria
Q3'26
Last updated