- No rewards breakdown available
You could get a 0% promotional annual interest rate (“AIR”) for 12 months on balance transfers completed within 90 days of account opening.
N/A
12.99%
24.99%
The MBNA True Line® Mastercard stands out as the top choice because it offers a combination of no annual fee and a low interest rate, making it ideal for those who need to carry a balance without incurring high costs.
Pros:
- No annual fee
- Low interest rate
Cons:
- Limited rewards
- Not ideal for earning points
- No rewards breakdown available
N/A
N/A
10.99%
24.99%
What sets the MBNA True Line® Gold Mastercard apart is its exceptionally low purchase interest rate, making it a great option for those who may need to carry a balance while keeping costs down.
Pros:
- Lowest interest rate among MBNA cards
- Low annual fee
Cons:
- Limited rewards
- Not suitable for earning points
3.CIBC Select Visa Card
CIBC
- No rewards breakdown available
Transfer your credit card balance of $100 or more — get 0% interest for up to 10 months with a 1% transfer fee and a first year annual fee rebate.
N/A
13.99%
13.99%
The standout feature here is the 0% introductory interest rate on balance transfers, which provides significant savings for those looking to manage existing debt effectively.
Pros:
- First-year annual fee rebate
- 0% introductory interest rate on balance transfers
Cons:
- Higher interest rates after promotional period
- Limited rewards
4.Scotiabank Momentum No-Fee Visa Card
Scotiabank
- 1%Cash back on gas, groceries, drug stores, and recurring payments
- 0.5%Cash back on other purchases
Earn 5% cash back on all purchases for the first 3 months (up to $2,000 in total purchases).
Earn 1% back on gas, groceries, drug stores, and recurring payments, plus 0.5% on other purchases.
19.99%
22.99%
This card shines for its straightforward cash back structure, making it an excellent choice for everyday spending without the burden of an annual fee.
Pros:
- No annual fee
- Good cash back on essential categories
Cons:
- Lower cash back on other purchases
- Limited to specific categories
5.TD Low Rate Visa Card
TD Canada Trust
- No rewards breakdown available
Get a 0% promotional interest rate on Purchases for the first 6 months.
N/A
12.90%
12.90%
A key differentiator is its low interest rate, making it a practical choice for those who need to manage larger purchases or unexpected expenses without incurring high interest.
Pros:
- Low interest rate
- Good for carrying a balance
Cons:
- No rewards program
- Annual fee applies
Final Words
As you navigate the options for 0% APR credit cards this January, remember that comparing rates, fees, and rewards can significantly impact your financial well-being. Take time to compare the available choices and make informed decisions that align with your spending habits and goals.
Frequently Asked Questions
You could get a 0% promotional annual interest rate (“AIR”) for 12 months on balance transfers completed within 90 days of account opening.
The MBNA True Line® Gold Mastercard does not have a welcome bonus.
Transfer your credit card balance of $100 or more — get 0% interest for up to 10 months with a 1% transfer fee and a first year annual fee rebate.
Consider factors such as the length of the promotional period, any applicable fees, and whether you need to transfer a balance. Compare the offers against your spending habits to find the best fit.
Some 0% APR credit cards do have annual fees, while others, like the MBNA True Line® Mastercard, charge no annual fee. It's important to weigh these fees against the benefits and rewards offered by the card.
Eligibility typically includes a minimum income requirement, a good credit score, and proof of residency. Each card issuer may have specific criteria, so check the details before applying.
To maximize benefits, make sure to pay off your balance before the promotional period ends to avoid interest charges. Additionally, consider using the card for necessary purchases to take advantage of the interest-free period.
