{"id":90612,"date":"2026-05-01T00:01:00","date_gmt":"2026-05-01T04:01:00","guid":{"rendered":"https:\/\/mp-2702.milesopedia.dev\/best-credit-cards-in-canada\/transfer\/"},"modified":"2026-05-08T16:43:07","modified_gmt":"2026-05-08T16:43:07","slug":"transfer","status":"publish","type":"page","link":"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/transfer\/","title":{"rendered":"The best balance transfer credit cards \u2013 May 2026"},"content":{"rendered":"\n<p>These credit cards have a <strong>low-interest rate<\/strong> for purchases or balance transfers.<\/p>\n\n\n\n<p><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/guide\/tutorials\/credit-card-balance-transfer\/\">Check out this post on balance transfer<\/a>, to learn more about this technique.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-best-balance-transfer-credit-card-offers\">Best Balance Transfer Credit Card Offers<\/h2>\n\n\n\n<p>Here is a table summarizing the different promotional offers for balance transfers or cash advances:<\/p>\n\n\n\n<div class=\"component component__table\"><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr style=\"height: 24px;\"><td>Credit Card<\/td><td>Institution<\/td><td>Offer<\/td><td>Transfer Fee<\/td><td>Annual Fee<\/td><\/tr><\/thead><tbody><tr><td><span style=\"font-size: 10pt;\"><a title=\"BMO CashBack<sup>&reg;<\/sup> World Elite<sup>&reg;<\/sup>* Mastercard<sup>&reg;<\/sup>*\" href=\"https:\/\/mp-2702.milesopedia.dev\/en\/go\/bmo-cashback-world-elite-mastercard\/\" rel=\"noindex\">BMO CashBack<sup>&reg;<\/sup> World Elite<sup>&reg;<\/sup>* Mastercard<sup>&reg;<\/sup>*<\/a><\/span><span style=\"font-size: 10pt;\"><br><\/span><\/td><td><span style=\"font-size: 10pt;\"><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/cards\/bmo\/\">BMO<\/a><\/span><\/td><td><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/offers\/cards\/bmo-cashback-world-elite-mastercard-offer\/\"><span style=\"font-size: 10pt;\">0% for 12 months on balance transfers<\/span><\/a><\/td><td><span style=\"font-size: 10pt;\">2%<\/span><\/td><td><span style=\"font-size: 10pt;\">$150 ($0 for the first year)<\/span><\/td><\/tr><tr><td><span style=\"font-size: 10pt;\"><a target=\"_blank\" title=\"BMO Ascend\u2122 World Elite<sup>&reg;<\/sup>* Mastercard<sup>&reg;<\/sup>*\" href=\"\/go\/bmo-world-elite-mastercard\/\" rel=\"noindex\">BMO Ascend World Elite Mastercard<\/a><\/span><\/td><td><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/cards\/bmo\/\"><span style=\"font-size: 10pt;\">BMO<\/span><\/a><\/td><td><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/offers\/cards\/bmo-ascend-world-elite-mastercard-offer\/\"><span style=\"font-size: 10pt;\">0% for 12 months on balance transfers <\/span><\/a><\/td><td><span style=\"font-size: 10pt;\">2%<\/span><\/td><br><td><span style=\"font-size: 10pt;\">$150 ($0 for the first year)<\/span><\/td><\/tr><tr style=\"height: 24px;\"><td><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/credit-cards\/cibc-select-visa-card\/\"><span style=\"font-size: 10pt;\">CIBC Select Visa* Card<\/span><\/a><\/td><td><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/cards\/cibc\/\"><span style=\"font-size: 10pt;\">CIBC<\/span><\/a><\/td><td><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/offers\/cards\/cibc-balance-transfer-card\/\"><span style=\"font-size: 10pt;\">0% for 10 months on balance transfers<\/span><\/a><\/td><td><span style=\"font-size: 10pt;\">1%<\/span><\/td><td><span style=\"font-size: 10pt;\">$29 ($0 for the first two years)<\/span><\/td><\/tr><tr style=\"height: 24px;\"><td><span style=\"font-size: 10pt;\"><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/credit-cards\/mbna-true-line-mastercard-roc\/\">MBNA True Line<sup>MD<\/sup> Mastercard<sup>MD<\/sup> Credit Card (Outside Quebec)<\/a><br><\/span><\/td><td><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/cards\/mbna\/\"><span style=\"font-size: 10pt;\">MBNA<\/span><\/a><\/td><td><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/offers\/cards\/mbna-true-line-balance-transfer-offer\/\"><span style=\"font-size: 10pt;\">0% for 12 months on balance transfers<\/span><\/a><\/td><td><span style=\"font-size: 10pt;\">3%<\/span><\/td><td><span style=\"font-size: 10pt;\">$0<\/span><\/td><\/tr><tr style=\"height: 24px;\"><td><span style=\"font-size: 10pt;\"><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/credit-cards\/bmo-preferred-rate-mastercard\/\">BMO Preferred Rate Mastercard<\/a><\/span><\/td><td><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/cards\/bmo\/\"><span style=\"font-size: 10pt;\">BMO<\/span><\/a><\/td><td><a title=\"BMO<sup>&reg;<\/sup> Preferred Rate Mastercard<sup>&reg;<\/sup>*\" href=\"https:\/\/mp-2702.milesopedia.dev\/en\/go\/bmo-preferred-rate-mastercard\/\" rel=\"noindex\"><span style=\"font-size: 10pt;\">0.99% for 9 months on balance transfers<\/span><\/a><\/td><td><span style=\"font-size: 10pt;\">2%<\/span><\/td><td><span style=\"font-size: 10pt;\">$29 ($0 for the first year)<\/span><\/td><\/tr><tr style=\"height: 24px;\"><td><span style=\"font-size: 10pt;\"><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/credit-cards\/scotiabank-value-visa-card\/\">Scotia Value Visa Card<\/a><\/span><\/td><td><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/cards\/scotiabank\/\"><span style=\"font-size: 10pt;\">Scotia<\/span><\/a><\/td><td><a title=\"Scotiabank Value<sup>&reg;<\/sup> Visa* Card\" href=\"https:\/\/mp-2702.milesopedia.dev\/en\/go\/scotiabank-value-visa-card\/\" rel=\"noindex\"><span style=\"font-size: 10pt;\">0% for 10 months on cash advances<\/span><\/a><\/td><td><span style=\"font-size: 10pt;\">1%<\/span><\/td><td><span style=\"font-size: 10pt;\">$29 ($0 for the first year)<\/span><\/td><\/tr><\/tbody><\/table><\/figure><\/div>\n\n\n\n<p>For more details, read on or click on the name of a card.<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='compare'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='14'\n\t\t\t\tclass='deferred_container--preload container_card container_template--compare container_count--6 container_count--lots'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"22647,91259,22659,158810,22672,22676\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t\n    <div class=\"card card-list card-list-header\">\n        <div class=\"shimmer shimmer-bar shimmer-dark shimmer-bar--short card-specs--title\"><\/div>\n        <div class=\"shimmer shimmer-bar shimmer-dark shimmer-bar--short card-specs--title\"><\/div>\n    <\/div>\n\n\n<div class=\"card card-list\">\n\n\t<div class=\"card-list--grid\">\n\n\t\t<div class=\"card-list--card\">\n\t\t\t<div class=\"card-graphic-cta shimmer shimmer-card\"><\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card-list--title-offer\">\n\n\t\t\t<div class=\"card--title\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"card-list--offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t<\/div>\n\n\t\t<div>\n\t\t\t<div class=\"card--apply\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n<\/div>\n<div class=\"card card-list\">\n\n\t<div class=\"card-list--grid\">\n\n\t\t<div class=\"card-list--card\">\n\t\t\t<div class=\"card-graphic-cta shimmer shimmer-card\"><\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card-list--title-offer\">\n\n\t\t\t<div class=\"card--title\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"card-list--offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t<\/div>\n\n\t\t<div>\n\t\t\t<div class=\"card--apply\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n<\/div>\n<div class=\"card card-list\">\n\n\t<div class=\"card-list--grid\">\n\n\t\t<div class=\"card-list--card\">\n\t\t\t<div class=\"card-graphic-cta shimmer shimmer-card\"><\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card-list--title-offer\">\n\n\t\t\t<div class=\"card--title\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"card-list--offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t<\/div>\n\n\t\t<div>\n\t\t\t<div class=\"card--apply\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n<\/div>\n<div class=\"card card-list\">\n\n\t<div class=\"card-list--grid\">\n\n\t\t<div class=\"card-list--card\">\n\t\t\t<div class=\"card-graphic-cta shimmer shimmer-card\"><\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card-list--title-offer\">\n\n\t\t\t<div class=\"card--title\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"card-list--offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t<\/div>\n\n\t\t<div>\n\t\t\t<div class=\"card--apply\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n<\/div>\n<div class=\"card card-list\">\n\n\t<div class=\"card-list--grid\">\n\n\t\t<div class=\"card-list--card\">\n\t\t\t<div class=\"card-graphic-cta shimmer shimmer-card\"><\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card-list--title-offer\">\n\n\t\t\t<div class=\"card--title\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"card-list--offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t<\/div>\n\n\t\t<div>\n\t\t\t<div class=\"card--apply\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n<\/div>\n<div class=\"card card-list\">\n\n\t<div class=\"card-list--grid\">\n\n\t\t<div class=\"card-list--card\">\n\t\t\t<div class=\"card-graphic-cta shimmer shimmer-card\"><\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card-list--title-offer\">\n\n\t\t\t<div class=\"card--title\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"card-list--offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\n\t\t<\/div>\n\n\t\t<div>\n\t\t\t<div class=\"card--apply\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n<\/div>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-best-bmo-balance-transfer-credit-cards\">Best BMO balance transfer credit cards<\/h2>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t\t\t\t<h2 id=\"bmo_cashback_mastercard_world_elite_\">BMO CashBack&reg; Mastercard&reg;* World Elite&#7481;&#7472;*<\/h2>\n\t\t\t\t<p>BMO CashBack<sup>&reg;<\/sup> World Elite<sup>&reg;<\/sup>* Mastercard<sup>&reg;<\/sup>* is one of Canada&rsquo;s <strong>best cash back Mastercard credit cards<\/strong>.<\/p>\n<p>Currently, for a limited time, you could receive <strong>up to $480 in cash back in the first year<\/strong>. In fact, you will receive $40 in cash back for each monthly period in which you make $2,000 in purchases on your card. <\/p>\n<p>Plus, there is <strong>no annual fee<\/strong> for the first year!<\/p>\n<p>Additionally, you benefit from a <strong>0% introductory interest rate on balance transfers<\/strong> for 12 months, as well as a 2% balance transfer fee.<\/p>\n<p>With BMO CashBack<sup>&reg;<\/sup> World Elite<sup>&reg;<\/sup>* Mastercard<sup>&reg;<\/sup>*, you get between <strong>2% and 5% cash back<\/strong> on many categories of purchases:<\/p>\n<ul>\n<li><strong>5% on grocery purchases<\/strong> (on the first $500 you spend monthly)<\/li>\n<li><strong>4% on transit<\/strong> (on the first $300 you spend monthly)<\/li>\n<li><strong>3% on gas and electric vehicle charging<\/strong> (on the first $300 you spend monthly)<\/li>\n<li><strong>2% on recurring bill payments<\/strong> (on the first $500 you spend monthly)<\/li>\n<\/ul>\n<p>Everywhere else, you&rsquo;ll earn 1% cash back, including at Costco. It is also one of the only credit cards in its category to offer a <strong>2 additional years extended warranty<\/strong>.<\/p>\n<p>Finally, enjoy <strong>six months of Instacart+ membership<\/strong> and a monthly $10 Instacart credit when you sign up with your eligible BMO credit card.<\/p>\n\t\t\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='3'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"22676\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t\t\t\t<h2 id=\"bmo_ascend_world_elite_mastercard_\">BMO Ascend&trade; World Elite&reg;* Mastercard&reg;*<\/h2>\n\t\t\t\t<p data-start=\"530\" data-end=\"773\">The BMO Ascend World Elite Mastercard is one of the best World Elite Mastercard credit cards with travel points in Canada. With our exclusive welcome offer, you can earn <strong data-start=\"730\" data-end=\"772\">up to 100,000 BMO Rewards points<\/strong>.<\/p>\n<p data-start=\"775\" data-end=\"905\">These points have a value of approximately <strong data-start=\"811\" data-end=\"828\">$650 to $700<\/strong>, according to our estimate, and can be applied to your travel expenses.<\/p>\n<p data-start=\"907\" data-end=\"1040\">Plus, there is <strong data-start=\"925\" data-end=\"967\">no annual fee for the first year<\/strong> for the primary cardholder and additional cardholders.<\/p>\n<p data-start=\"1042\" data-end=\"1210\">You can also take advantage of a <strong data-start=\"1078\" data-end=\"1160\">0% introductory interest rate on balance transfers for 12 months<\/strong>, with a <strong data-start=\"1171\" data-end=\"1209\">2% balance transfer fee<\/strong>.<\/p>\n<p data-start=\"1212\" data-end=\"1275\">With the BMO Ascend World Elite Mastercard, you get:<\/p>\n<ul data-start=\"1277\" data-end=\"1503\">\n<li data-section-id=\"1t336rf\" data-start=\"1277\" data-end=\"1333\"><strong data-start=\"1279\" data-end=\"1302\">5 points per dollar<\/strong> on eligible travel*<\/li>\n<li data-section-id=\"1j4zfha\" data-start=\"1334\" data-end=\"1448\"><strong data-start=\"1336\" data-end=\"1359\">3 points per dollar<\/strong> on eligible dining, entertainment, and recurring bill payments*<\/li>\n<li data-section-id=\"1t815i1\" data-start=\"1449\" data-end=\"1503\"><strong data-start=\"1451\" data-end=\"1473\">1 point per dollar<\/strong> on all other purchases*<\/li>\n<\/ul>\n<p data-start=\"1505\" data-end=\"1700\">You can use BMO Rewards points for your travel (flights, hotels, car rentals, packages, etc.) or for rewards and gift cards on the BMO Rewards platform.<\/p>\n<p data-start=\"1702\" data-end=\"1728\">The card also offers:<\/p>\n<ul data-start=\"1729\" data-end=\"1967\">\n<li data-section-id=\"1p68z13\" data-start=\"1729\" data-end=\"1834\"><strong data-start=\"1731\" data-end=\"1783\">4 complimentary airport lounge accesses per year<\/strong> via Mastercard Travel Pass provided by DragonPass*<\/li>\n<li data-section-id=\"13aj19\" data-start=\"1835\" data-end=\"1967\"><strong data-start=\"1837\" data-end=\"1872\">comprehensive travel insurance<\/strong>, including emergency medical coverage up to <strong data-start=\"1925\" data-end=\"1967\">$5 million for 21 days*<\/strong><\/li>\n<\/ul>\n<p data-start=\"1969\" data-end=\"2132\">Finally, enjoy six months of Instacart+ membership and a $10 monthly Instacart credit when you sign up with your eligible BMO credit card.*<\/p>\n\t\t\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='3'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"22672\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t\t\t\t<h2 id=\"bmo_preferred_rate_mastercard_\">BMO Preferred Rate Mastercard&reg;*<\/h2>\n\t\t\t\t<p>The BMO Preferred Rate Mastercard is a Bank of Montreal credit card that offers a <strong>0.99% introductory interest rate<\/strong> on Balance Transfers for 9 months.<\/p>\n<p>There is <strong>no minimum income requirement<\/strong> for this BMO credit card.<\/p>\n<p>You can use this low-interest credit card at Costco because it is a Mastercard credit card.<\/p>\n<p>Finally, you\u2019ll receive insurance on purchases charged to your BMO Preferred Rate Mastercard.<\/p>\n\t\t\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='3'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"22659\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-best-cibc-balance-transfer-credit-card\">Best CIBC Balance Transfer Credit Card<\/h2>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t\t\t\t<h2 id=\"cibc_select_visa_card\">CIBC Select Visa* Card<\/h2>\n\t\t\t\t<p>The CIBC Select Visa Card* is one of the best Visa credit cards in Canada for balance transfers.<\/p>\n<p>With this exclusive digital offer for this <strong>CIBC balance transfer credit card<\/strong>, you get:<\/p>\n<ul>\n<li>a 0% interest rate on balance transfers of at least $100, for up to 10 months<\/li>\n<li>a <strong>refund of the annual fee<\/strong> for two years<sup>\u2020<\/sup><\/li>\n<\/ul>\n<p>You only pay a 1% <strong>balance transfer fee<\/strong> when transferring a <strong>balance from another credit card<\/strong> (balance transfer fees do not apply to Quebec residents). Once the promotional period ends, the card\u2019s standard interest rate of 13.99% applies to any remaining balance. This interest rate is lower than those charged by many other credit cards.  <\/p>\n<p>For example, you could make large purchases on another credit card (such as renovations or furniture and appliance purchases) and then <strong>transfer the balance<\/strong> to the <strong>CIBC Select Visa Card<\/strong> to benefit from its 0% interest rate on balance transfers for 10 months.<\/p>\n<p>CIBC Select Visa Card* cardholders can also save on gas through the card\u2019s partnership with Journie Rewards, which allows them to save up to 10 cents per litre at participating gas stations.<\/p>\n<p>The CIBC Select Visa Card* has a $29 <strong>annual fee<\/strong> (refunded for the first two years) and requires a minimum household income of $15,000 to qualify. With <strong>CIBC mobile banking<\/strong> and <strong>online banking services<\/strong>, you can easily track your credit limit and balance transfers from your phone or by <strong>signing in online<\/strong>. <\/p>\n\t\t\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='3'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"91259\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-best-mbna-balance-transfer-credit-card\">Best MBNA Balance Transfer Credit Card<\/h2>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t\t\t\t<h2 id=\"mbna_true_line_mastercard_credit_card_-_non_quebec_residents\">MBNA True Line&reg; Mastercard&reg; credit card &#8211; Non Quebec Residents<\/h2>\n\t\t\t\t<p>The MBNA True Line<sup>&reg;<\/sup> Mastercard<sup>&reg;<\/sup> credit card is one of Canada&rsquo;s best options for a low-cost balance transfer. It&rsquo;s ideal for reducing interest charges and consolidating your debts onto one card. <\/p>\n<p>With this card, you benefit from a <strong>0% interest rate for 12 months on balance transfers<\/strong> made within 90 days of account opening. Transfer fees are a competitive 3%. <\/p>\n<p>This card offers fraud protection, guaranteeing the security of your transactions.<\/p>\n<p>If you want to transfer balances from high-rate cards, the MBNA True Line<sup>&reg;<\/sup> Mastercard<sup>&reg;<\/sup> credit card allows you to benefit from a 0% rate and pay off your debts at your own pace without high-interest charges during the promotional period.<\/p>\n<p>In short, the MBNA True Line<sup>&reg;<\/sup> Mastercard<sup>&reg;<\/sup> credit card is an excellent choice for reducing debt and optimizing balance transfers.<\/p>\n\t\t\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='3'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"158810\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-best-scotia-balance-transfer-credit-card\">Best Scotia Balance Transfer Credit Card<\/h2>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t\t\t\t<h2 id=\"scotiabank_value_visa_card\">Scotiabank Value&reg; Visa* Card<\/h2>\n\t\t\t\t<p>Scotia Value Visa Card is <strong>one of the best credit cards for cash advances<\/strong> (including balance transfers) in Canada.<\/p>\n<p>You can get an <strong>introductory interest rate of <span class=\"nowrap\">0.99%<\/span> on cash advances<\/strong> for the first nine months (including balance transfers, with a <span class=\"nowrap\">2%<\/span> transfer fee). You pay <strong>no annual fee for the first year<\/strong> with this Visa credit card. <\/p>\n<p>What&rsquo;s more, this Visa credit card offers a low interest rate: <span class=\"nowrap\">13.99%<\/span> on purchases, balance transfers and cash advances.<\/p>\n\t\t\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='3'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"22647\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-credit-card-balance-transfer-how-to-save-on-your-interest-rates\">Credit card balance transfer: how to save on your interest rates<\/h2>\n\n\n\n<p>A <strong>credit card balance transfer<\/strong> is an effective strategy for reducing your interest charges and saving money.<\/p>\n\n\n\n<p>Transferring your balance to a <strong>0% interest credit card<\/strong> allows you to consolidate your debts at an advantageous rate, provided you understand the steps involved and choose the best offer for you.<\/p>\n\n\n\n<p>This method simplifies the management of your debt and speeds up repayment by limiting accumulated interest. Here\u2019s how to make a balance transfer and reap the maximum benefits.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-choose-the-best-balance-transfer-credit-card\">Choose the best balance transfer credit card<\/h3>\n\n\n\n<p>Identify the balance transfer credit card that best suits your financial needs to get started. Here are the criteria to consider when making your choice:<\/p>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li><strong>Interest rate on balance transfers<\/strong>: Look for a credit card offering 0% or a low promotional rate on balance transfers. This will enable you to significantly reduce the cost of your debt during the promotional period.<\/li>\n\n\n\n<li><strong>Length of promotional period<\/strong>: Choose a card with a promotional offer long enough (six to 12 months) to pay off your balance without straining your budget. A more extended period will give you more flexibility and time to plan your payments efficiently.<\/li>\n\n\n\n<li><strong>Balance transfer fees<\/strong>: Some issuers charge fees ranging from 1% to 5% of the balance transferred. Be sure to compare these fees to evaluate the total cost of the transaction. In some cases, fees can reduce the benefits of a lower interest rate, so it&#8217;s important to calculate whether the transaction is profitable.<\/li>\n<\/ul><\/div>\n\n\n\n<p>This analysis will help you choose the best balance transfer card, such as the <a target=\"_blank\" title=\"CIBC Select Visa* Card\" href=\"\/go\/cibc-select-visa-card\/\" rel=\"noindex\">CIBC Select Visa* Card<\/a> which offers a 0% rate on balance transfers for 10 months.<\/p>\n\n\n\n<p>Review several options to find the card that best suits your financial situation and repayment goals.<\/p>\n\n\n<aside class=\"component component__deferred_contents wp-block-milesgutenberg-deferred-contents\">\n\t\t\t\t<div\n\t\t\t\tdata-template='m-h'\n\t\t\t\tdata-post_type='card'\n\t\t\t\tdata-per_page='4'\n\t\t\t\tclass='deferred_container--preload container_card container_template--m-h container_count--1'\n\n\t\t\t\t\t\t\t\t\tdata-tag=\"card_id\"\n\t\t\t\t\t\t\tdata-post_ids=\"91259\"\n\t\t\t\t\t\t\tdata-utm=\"wpb\"\n\t\t\t\t\t\t\t>\n\t\t<div class=\"card\">\n\t<div class=\"card--grid\">\n\n\t\t<div class=\"card--img-outer\">\n\t\t\t<div class=\"card--img\">\n\t\t\t\t<div class=\"shimmer shimmer-card\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--title-offer-selling\">\n\t\t\t<div class=\"card--title-offer\">\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar\"><\/div>\n\t\t\t<\/div>\n\t\t\t<div class=\"card--selling-points\">\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t\t<div class=\"shimmer shimmer-bar shimmer-bar--short\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t\t<div class=\"card--apply\">\n\t\t\t<div class=\"apply-btn\">\n\t\t\t\t<div class=\"shimmer shimmer-btn\"><\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n<\/div>\t\t<\/div>\n\n\t\t<\/aside>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-evaluate-the-amount-to-be-transferred\">Evaluate the amount to be transferred<\/h3>\n\n\n\n<p>Once you&#8217;ve obtained a credit card, decide how much you want to transfer.<\/p>\n\n\n\n<p>Your new card&#8217;s credit limit limits the transferable amount. To maximize savings, we recommend prioritizing debts with the highest interest rates. If you have several debts, conduct a detailed analysis to determine which ones to transfer based on interest rates and amounts owed. This will enable you to make the most of your new low-rate credit card.<\/p>\n\n\n\n<p>For example, if you have a $12,000 debt with an interest rate of 19.99% on one card and another $5,000 debt with a rate of 14.99%, it would be more advantageous to transfer the debt with the higher rate first. This will reduce your interest costs and help you focus on paying off your balance faster.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-start-the-balance-transfer-process\">Start the balance transfer process<\/h3>\n\n\n\n<p>The balance transfer procedure varies from one credit card issuer to another. Some will ask you to provide information about the accounts to be reimbursed at the time of application, while others will invite you to contact them once the card has been received. It&#8217;s essential to understand the steps required by the issuer to avoid any delays or complications.<\/p>\n\n\n\n<p>Transfer fees may differ: for example, the <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/credit-cards\/cibc-select-visa-card\/\">CIBC Select Visa* Card<\/a> charges a 1% transfer fee, which is relatively low compared to other cards, which can charge up to 5%. t is, therefore, essential to find out about each card\u2019s specific terms and conditions before proceeding. Once the debts to be eliminated have been specified, the transfer can be initiated, simplifying your payments by consolidating balances on a single low-interest card.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-draw-up-a-repayment-plan\">Draw up a repayment plan<\/h3>\n\n\n\n<p>With 0% interest on balance transfers, work out a rigorous repayment plan to avoid any remaining balance at the end of the promotional period. Divide your total balance by the promotional period to determine a monthly repayment amount. This will help you maximize your savings and reduce your debt faster.<\/p>\n\n\n\n<p>For example, if you&#8217;ve transferred a $5,000 balance with a 10-month promotional period, your goal should be to pay off at least $500 monthly. If this monthly payment is too high for your budget, try to find a compromise by repaying as much as possible during the promotional period, as even a partial repayment will save you on interest charges compared with a high-rate card.<\/p>\n\n\n\n<p>It&#8217;s also a good idea to set up automatic payments to avoid late fees, as any delay could result in losing the promotional rate. By planning and meeting deadlines, you can ensure that you make the most of this debt-reduction opportunity.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-advantages-and-disadvantages-of-credit-card-balance-transfers\">Advantages and disadvantages of credit card balance transfers<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-advantages-of-credit-card-balance-transfers\">Advantages of credit card balance transfers<\/h3>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li><strong>Lower interest charges<\/strong>: Transferring a balance to a low- or no-interest card means you pay less interest. This means that each monthly payment contributes more to reducing the principal, which helps you pay off your debt faster.<\/li>\n\n\n\n<li><strong>Debt consolidation<\/strong>: A balance transfer can combine several balances on a single card, making it easier to manage your debts. A single monthly payment simplifies your budget management and helps you avoid forgetting or late payments.<\/li>\n\n\n\n<li><strong>Flexibility<\/strong>: You can choose a card that suits your financial goals and budget better. Some balance transfer cards also offer additional benefits, such as rewards programs or insurance, making the offer even more attractive.<\/li>\n\n\n\n<li><strong>Opportunity to reduce financial pressure<\/strong>: By lowering the interest you pay monthly, you can relieve financial pressure and concentrate on repaying the capital. This gives you greater visibility over your finances so you can plan more serenely.<\/li>\n<\/ul><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-disadvantages-of-credit-card-balance-transfers\">Disadvantages of credit card balance transfers<\/h3>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li><strong>Transfer fees<\/strong>: Some issuers charge transfer fees, which increase the total cost of debt. These fees can represent a significant percentage of the amount transferred, reducing the potential savings from the lower interest rate.<\/li>\n\n\n\n<li><strong>Post-promotional interest rate<\/strong>: Once the reduced-rate period is over, the standard interest rate may apply and increase your costs. It&#8217;s crucial to understand the contract terms, including the interest rate that will apply after the promotional period ends.<\/li>\n\n\n\n<li><strong>Impact on credit score<\/strong>: Opening a new line of credit may temporarily affect your credit score. What&#8217;s more, if you fail to repay the transferred balance before the end of the promotional period, your overall indebtedness may increase, which could hurt your credit score.<\/li>\n\n\n\n<li><strong>Temptation to spend more<\/strong>: When you make a balance transfer, you may be tempted to continue using your old credit cards, which could lead to further debt accumulation. It&#8217;s essential to be disciplined and not increase your spending while working to pay off your debt.<\/li>\n<\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-balance-transfer-summary\">Balance transfer summary<\/h2>\n\n\n\n<p>Credit card balance transfer is a powerful solution for reducing interest charges and eliminating debt faster. You can make the most of this financial strategy by choosing the right 0% interest credit card, carefully evaluating fees and developing an effective repayment plan.<\/p>\n\n\n\n<p>Don&#8217;t forget to compare the different offers available, calculate the total cost, taking transfer fees into account, and plan your payments carefully. With proper management, a balance transfer can help you achieve your financial goals more quickly and improve your overall financial situation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-frequently-asked-questions-about-credit-card-balance-transfers\">Frequently Asked Questions about Credit Card Balance Transfers<\/h2>\n\n\n\n<p>Here are some frequently asked questions in <a target=\"_blank\" class=\"thirstylink\" title=\"the milesopedia facebook group\" href=\"\/go\/fbgroupe\/\" rel=\"nofollow noindex\">the milesopedia community<\/a> about credit cards in Canada.<\/p>\n\n\n<aside class=\"component component__faq wp-block-milesgutenberg-faq\">\n\t\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"what_is_a_credit_card_balance_transfer_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhat is a credit card balance transfer?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Credit card balance transfers are an option for credit card holders who have high balances on their cards and are looking to reduce their interest charges. They allow you to transfer your balance from a high-rate credit card to a lower-rate card, which can represent significant savings on interest costs. However, it&#8217;s essential to understand the fees associated with balance transfers, including transfer fees and higher interest rates on balance transfers than on purchases made with the card. It is, therefore, important to compare the various offers and ensure that the cost of balance transfers is lower than the savings on interest charges.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"what_is_a_credit_card_balance_transfer_promotion_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhat is a credit card balance transfer promotion?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Credit card balance transfer promotions are temporary offers from credit card issuers to encourage cardholders to transfer their balance from a high-rate card to a lower-rate card. These promotions may include reduced interest rates on balance transfers or free fees. They are usually offered for a limited period. They are subject to strict conditions, such as not having an outstanding balance on the new card or making any new purchases with the card during the promotional period. It&#8217;s essential to read the terms and conditions of the offer carefully before signing up for a balance transfer promotion and to make sure you pay off the balance before the end of the preferential rate period.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"what_is_a_promotional_credit_card_balance_transfer_rate_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhat is a promotional credit card balance transfer rate?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>A promotional credit card balance transfer rate is a reduced interest rate offered by credit card issuers to encourage cardholders to transfer their balance from a high-rate card to a lower-rate card. This rate is generally lower than the usual interest rates applied to balance transfers and can represent significant user savings. However, it is essential to read the terms and conditions of the offer carefully before signing up for a promotional balance transfer rate, as there may be transfer fees or strict conditions to be met to benefit from the reduced rate. The promotional balance transfer rate is usually offered for a limited period and may be subject to early termination conditions.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"what_is_a_credit_card_balance_transfer_fee_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhat is a credit card balance transfer fee?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Credit card balance transfer fees are fees credit card issuers charge when a cardholder transfers his balance from a high-rate card to a lower-rate card. These fees are generally expressed as a percentage of the amount transferred balance and may vary by the card issuer and offer. It&#8217;s important to understand balance transfer fees before taking out a balance transfer, and to ensure that the savings on interest charges will be more significant than the transfer fee cost. It&#8217;s also essential to check whether transfer fees are included in the interest rate or charged separately.  Balance transfer fees can be avoided by choosing a credit card with no balance transfer fee.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"are_there_any_fees_associated_with_a_credit_card_balance_transfer_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tAre there any fees associated with a credit card balance transfer?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Yes, a fee is frequently charged to complete a credit card balance transfer: between 1% and 3% of the total amount transferred.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"what_is_a_credit_card_cash_advance_rate_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhat is a credit card cash advance rate?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>A credit card cash advance rate is the interest rate applied to cash advances made with a credit card in Canada. Cash advances are withdrawals of money using your credit card at an ATM or by creating a request to your card issuer. The cash advance rate is generally higher than the interest rate charged on purchases made with your credit card and may vary depending on the card issuer and the offer. It&#8217;s essential to understand the fees associated with cash advances and to compare them with the interest rates offered by other credit options before committing to a cash advance.    It is also essential to ensure that the cash advance balance is repaid as soon as possible to avoid costly interest charges.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"which_is_the_best_balance_transfer_credit_card_in_canada_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhich is the best balance transfer credit card in Canada?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p><strong>Credit card balance transfer<\/strong> offers are constantly evolving. Currently, the two best balance transfer credit cards are:<\/p>\n\n\n\n<div class=\"component component__list\"><ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/credit-cards\/cibc-select-visa-card\/\">CIBC Select Visa* Card<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/credit-cards\/bmo-preferred-rate-mastercard\/\">BMO<sup>&reg;<\/sup> Preferred Rate Mastercard<sup>&reg;<\/sup>*<\/a><\/li>\n<\/ul><\/div>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"how_can_i_improve_my_credit_score_with_a_credit_card_balance_transfer_in_canada_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tHow can I improve my credit score with a credit card balance transfer in Canada?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Here are some tips for improving your credit score with a credit card balance transfer in Canada:<\/p>\n\n\n\n<div class=\"component component__list\"><ol class=\"wp-block-list\">\n<li>Transfer your balance to a credit card with a lower interest rate: by transferring your balance to a card with a lower interest rate, you can reduce your interest charges and pay off your debt faster.<\/li>\n\n\n\n<li>Pay off your balance before the end of the prime rate period: to take full advantage of the benefits of balance transfer, it&#8217;s important to pay off your balance before the end of the prime rate period.<\/li>\n\n\n\n<li>Don&#8217;t make new purchases with the credit card: limit your use of the credit card to the sole purpose of paying off your balance, and avoid making new purchases that could put you in further debt.<\/li>\n\n\n\n<li>Pay your bills on time: Pay your credit card bills on time to avoid late payment fees and show your creditors that you can manage your credit responsibly.<\/li>\n<\/ol><\/div>\n\n\n\n<p>By following these tips, you should be able to improve your credit score with a credit card balance transfer.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"how_do_i_transfer_my_scotiabank_credit_card_balance_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tHow do I transfer my Scotiabank credit card balance?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>To make a credit card balance transfer with <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/cards\/scotiabank\/\">Scotiabank<\/a>, you can follow these steps:<\/p>\n\n\n\n<div class=\"component component__list\"><ol class=\"wp-block-list\">\n<li>Log in to your Scotiabank credit card account online or by phone.<\/li>\n\n\n\n<li>Find out if your credit card account is eligible for a balance transfer and what the applicable interest rate is.<\/li>\n\n\n\n<li>Choose the amount you wish to transfer and the credit card to which you wish to transfer the balance.<\/li>\n\n\n\n<li>Provide the recipient&#8217;s credit card information, including account number and cardholder name.<\/li>\n\n\n\n<li>Confirm the details of the balance transfer and agree to the terms and conditions of the transaction.<\/li>\n\n\n\n<li>Wait for Scotiabank to process your balance transfer request and transfer the balance to the new credit card.<\/li>\n<\/ol><\/div>\n\n\n\n<p>It is important to note that credit card balance transfers may incur transaction fees and interest charges, so it is important to check the terms and conditions of your credit card account before making a balance transfer.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"how_do_i_make_a_bmo_credit_card_balance_transfer_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tHow do I make a BMO credit card balance transfer?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>To make a credit card balance transfer with the <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/cards\/bmo\/\">Bank of Montreal<\/a> (BMO), follow these steps:<\/p>\n\n\n\n<div class=\"component component__list\"><ol class=\"wp-block-list\">\n<li>Log in to your BMO credit card account online or by phone.<\/li>\n\n\n\n<li>Find out if your credit card account is eligible for a balance transfer and what the applicable interest rate is.<\/li>\n\n\n\n<li>Choose the amount you wish to transfer and the credit card to which you wish to transfer the balance.<\/li>\n\n\n\n<li>Provide the recipient&#8217;s credit card information, including account number and cardholder name.<\/li>\n\n\n\n<li>Confirm the details of the balance transfer and agree to the terms and conditions of the transaction.<\/li>\n\n\n\n<li>Wait for BMO to process your balance transfer request and transfer the balance to the new credit card.<\/li>\n<\/ol><\/div>\n\n\n\n<p>It is important to note that credit card balance transfers may incur transaction fees and interest charges, so it is important to check the terms and conditions of your credit card account before making a balance transfer.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"are_there_balance_transfer_credit_cards_with_low_interest_rates_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tAre there balance transfer credit cards with low interest rates?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Yes, there are balance transfer credit cards with low interest rates. See the list of the <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/low-interest\/\">best low-interest credit cards<\/a> in Canada.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"is_it_possible_to_transfer_a_balance_to_a_credit_card_from_the_same_financial_institution_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tIs it possible to transfer a balance to a credit card from the same financial institution?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>No, institutions like Desjardins or CIBC generally don&#8217;t allow balance transfers between their own low-interest credit cards.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"does_a_balance_transfer_on_a_credit_card_have_a_negative_impact_on_my_credit_score_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tDoes a balance transfer on a credit card have a negative impact on my credit score?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>No, making a balance transfer, even with a 0-interest balance transfer credit card, is not considered a red flag by the credit bureaus.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"do_all_card_issuers_offer_balance_transfer_options_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tDo all card issuers offer balance transfer options?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Most issuers, including National Bank and BMO, offer balance transfer options, but it&#8217;s best to check each credit card&#8217;s balance transfer terms and conditions.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"which_banks_offer_balance_transfers_at_0_interest_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhich banks offer balance transfers at 0% interest?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>MBNA with the MBNA True Line<sup>&reg;<\/sup> Mastercard<sup>&reg;<\/sup> and CIBC with the <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/credit-cards\/cibc-select-visa-card\/\">CIBC Select Visa* Card<\/a> are among the few banks offering 0% interest credit card promotions for balance transfers.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"can_opening_a_balance_transfer_credit_card_hurt_my_credit_rating_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tCan opening a balance transfer credit card hurt my credit rating?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>No, but keep in mind that every new card application requires a credit check, which could slightly affect your credit rating in the short term.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"is_it_worthwhile_to_make_a_balance_transfer_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tIs it worthwhile to make a balance transfer?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>If you have an outstanding balance with a high interest rate, transferring it to a card with a low promotional rate can result in significant savings.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"what_are_the_disadvantages_of_credit_cards_specializing_in_balance_transfers_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhat are the disadvantages of credit cards specializing in balance transfers?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>These cards often offer few additional benefits and may include a transfer fee, which is usually a percentage of the transferred balance.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"what_is_a_balance_transfer_on_a_credit_card_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhat is a balance transfer on a credit card?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>This is the process of moving the balance from one card to another, often to benefit from a promotional interest rate. Some cards also allow cash advances directly to your card account.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"are_there_any_fees_associated_with_balance_transfers_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tAre there any fees associated with balance transfers?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>Yes, credit card balance transfer fees generally vary between 1% and 3% of the total amount transferred.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"what_is_the_best_balance_transfer_offer_currently_available_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhat is the best balance transfer offer currently available?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>The <a href=\"https:\/\/mp-2702.milesopedia.dev\/en\/credit-cards\/cibc-select-visa-card\/\">CIBC Select Visa* Card<\/a> is offering 0% interest with this balance transfer credit card for 10 months, with a 1% transfer fee.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"can_i_transfer_balances_between_cards_issued_by_the_same_bank_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tCan I transfer balances between cards issued by the same bank?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>No, financial institutions like TD and Scotia do not generally allow this type of credit card balance transfer.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"do_balance_transfers_affect_my_credit_rating_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tDo balance transfers affect my credit rating?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>No, balance transfers in themselves have no negative impact on your credit score.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"do_all_issuers_offer_credit_cards_with_balance_transfer_options_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tDo all issuers offer credit cards with balance transfer options?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>No, it is important to check each welcome offer and the terms and conditions of each card before applying for one.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"should_i_opt_for_a_balance_transfer_or_a_personal_loan_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tShould I opt for a balance transfer or a personal loan?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>This depends on the rates offered and the length of the promotional period. If the interest rate is lower and you can pay off the balance during this period, a balance transfer may be the best option.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"can_i_earn_cash_back_or_rewards_on_balance_transfers_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tCan I earn cash back or rewards on balance transfers?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>No, credit card rewards generally apply only to new purchases and not to balance transfers or payments.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"what_is_a_balance_transfer_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tWhat is a balance transfer?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>A balance transfer is a financial transaction in which you move debt from one credit card to another. This is often done to take advantage of a lower interest rate or promotional period offered by the new card. The aim is to reduce the costs associated with debt repayment and make it easier to manage.<\/p>\n\n\n\n<p>In general, credit cards offering this option offer a reduced interest rate for a defined period, enabling you to pay off your debt more quickly and at a lower cost. However, it&#8217;s important to read the conditions carefully, as transfer fees may apply, and the promotional rate is often only valid for a limited time.<\/p>\n\n\n\n<p>Balance transfer is a particularly useful strategy if you have accumulated a large debt on a card with a high interest rate. By transferring this debt to a card with a lower interest rate, you can make significant savings on interest payments.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n<div class=\"component component__faq__item component__faq__item--opened wp-block-milesgutenberg-faq-item\">\n\t<div class=\"component__faq__item__title\">\n\t\t<h4 id=\"how_do_i_transfer_a_capital_one_credit_card_balance_\" class=\"toc_exclude component__faq__item__title__heading\">\n\t\t\tHow do I transfer a capital one credit card balance?\t\t<\/h4>\n\t\t<i class=\"fas fa-chevron-down\"><\/i>\n\t<\/div>\n\t<div class=\"component__faq__item__content\">\n\t\t<div class=\"component__faq__item__content__inner\">\n\t\t\t\n\n<p>To carry out a balance transfer with a Capital One credit card, start by checking whether your card is eligible for this operation. Then log in to your online account and follow the instructions to initiate a balance transfer. You will need to provide details of the account from which you wish to transfer the balance. Once submitted, Capital One will review your request and, if approved, process the transfer. Please note that transfer fees and specific conditions may apply.<\/p>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n<\/aside>","protected":false},"excerpt":{"rendered":"<p>These credit cards have a low-interest rate for purchases or balance transfers. Check out this post on balance transfer, to learn more about this technique. Best Balance Transfer Credit Card Offers Here is a table summarizing the different promotional offers for balance transfers or cash advances: Credit Card Institution Offer Transfer Fee Annual Fee BMO [&hellip;]<\/p>","protected":false},"author":3,"featured_media":352454,"parent":207228,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-toc.php","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"tags":[],"mc_loyalty_program":[],"class_list":["post-90612","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The best balance transfer credit cards \u2013 May 2026 | Milesopedia<\/title>\n<meta name=\"description\" content=\"The best balance transfer credit cards. Compare and save in May 2026 on Milesopedia.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/transfer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The best balance transfer credit cards \u2013 May 2026\" \/>\n<meta property=\"og:description\" content=\"The best balance transfer credit cards. Compare and save in May 2026 on Milesopedia.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/transfer\/\" \/>\n<meta property=\"og:site_name\" content=\"Milesopedia\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-08T16:43:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/milesopedia.com\/wp-content\/uploads\/2024\/02\/Meilleures-Cartes-CATEGORIE-Transfert-Solde-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"840\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"17 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/best-credit-cards-in-canada\\\/transfer\\\/\",\"url\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/best-credit-cards-in-canada\\\/transfer\\\/\",\"name\":\"Best Balance Transfer Credit Cards - May 2026 - Milesopedia\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/best-credit-cards-in-canada\\\/transfer\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/best-credit-cards-in-canada\\\/transfer\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Meilleures-Cartes-CATEGORIE-Transfert-Solde-2.jpg\",\"datePublished\":\"2026-05-01T04:01:00+00:00\",\"dateModified\":\"2026-05-08T16:43:07+00:00\",\"description\":\"The best balance transfer credit cards. Compare and save in May 2026 on Milesopedia.\",\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/best-credit-cards-in-canada\\\/transfer\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/best-credit-cards-in-canada\\\/transfer\\\/#primaryimage\",\"url\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Meilleures-Cartes-CATEGORIE-Transfert-Solde-2.jpg\",\"contentUrl\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Meilleures-Cartes-CATEGORIE-Transfert-Solde-2.jpg\",\"width\":1600,\"height\":840,\"caption\":\"The best balance transfer credit cards \u2013 May 2026 - Balance Transfer\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/\",\"name\":\"Milesopedia\",\"description\":\"Programmes de fid\u00e9lit\u00e9 et cartes de cr\u00e9dit au Canada\",\"publisher\":{\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-CA\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/#organization\",\"name\":\"Milesopedia\",\"url\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/wp-content\\\/uploads\\\/2025\\\/08\\\/Milesopedia-CANADA.png\",\"contentUrl\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/wp-content\\\/uploads\\\/2025\\\/08\\\/Milesopedia-CANADA.png\",\"width\":884,\"height\":203,\"caption\":\"Milesopedia\"},\"image\":{\"@id\":\"https:\\\/\\\/mp-2702.milesopedia.dev\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The best balance transfer credit cards \u2013 May 2026 | Milesopedia","description":"The best balance transfer credit cards. Compare and save in May 2026 on Milesopedia.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/transfer\/","og_locale":"en_US","og_type":"article","og_title":"The best balance transfer credit cards \u2013 May 2026","og_description":"The best balance transfer credit cards. Compare and save in May 2026 on Milesopedia.","og_url":"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/transfer\/","og_site_name":"Milesopedia","article_modified_time":"2026-05-08T16:43:07+00:00","og_image":[{"width":1600,"height":840,"url":"https:\/\/milesopedia.com\/wp-content\/uploads\/2024\/02\/Meilleures-Cartes-CATEGORIE-Transfert-Solde-2.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"17 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/transfer\/","url":"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/transfer\/","name":"Best Balance Transfer Credit Cards - May 2026 - Milesopedia","isPartOf":{"@id":"https:\/\/mp-2702.milesopedia.dev\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/transfer\/#primaryimage"},"image":{"@id":"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/transfer\/#primaryimage"},"thumbnailUrl":"https:\/\/mp-2702.milesopedia.dev\/wp-content\/uploads\/2024\/02\/Meilleures-Cartes-CATEGORIE-Transfert-Solde-2.jpg","datePublished":"2026-05-01T04:01:00+00:00","dateModified":"2026-05-08T16:43:07+00:00","description":"The best balance transfer credit cards. Compare and save in May 2026 on Milesopedia.","inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/transfer\/"]}]},{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/mp-2702.milesopedia.dev\/en\/best-credit-cards-in-canada\/transfer\/#primaryimage","url":"https:\/\/mp-2702.milesopedia.dev\/wp-content\/uploads\/2024\/02\/Meilleures-Cartes-CATEGORIE-Transfert-Solde-2.jpg","contentUrl":"https:\/\/mp-2702.milesopedia.dev\/wp-content\/uploads\/2024\/02\/Meilleures-Cartes-CATEGORIE-Transfert-Solde-2.jpg","width":1600,"height":840,"caption":"The best balance transfer credit cards \u2013 May 2026 - Balance Transfer"},{"@type":"WebSite","@id":"https:\/\/mp-2702.milesopedia.dev\/en\/#website","url":"https:\/\/mp-2702.milesopedia.dev\/en\/","name":"Milesopedia","description":"Programmes de fid\u00e9lit\u00e9 et cartes de cr\u00e9dit au Canada","publisher":{"@id":"https:\/\/mp-2702.milesopedia.dev\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mp-2702.milesopedia.dev\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-CA"},{"@type":"Organization","@id":"https:\/\/mp-2702.milesopedia.dev\/en\/#organization","name":"Milesopedia","url":"https:\/\/mp-2702.milesopedia.dev\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/mp-2702.milesopedia.dev\/en\/#\/schema\/logo\/image\/","url":"https:\/\/mp-2702.milesopedia.dev\/wp-content\/uploads\/2025\/08\/Milesopedia-CANADA.png","contentUrl":"https:\/\/mp-2702.milesopedia.dev\/wp-content\/uploads\/2025\/08\/Milesopedia-CANADA.png","width":884,"height":203,"caption":"Milesopedia"},"image":{"@id":"https:\/\/mp-2702.milesopedia.dev\/en\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/mp-2702.milesopedia.dev\/en\/wp-json\/wp\/v2\/pages\/90612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mp-2702.milesopedia.dev\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mp-2702.milesopedia.dev\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mp-2702.milesopedia.dev\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mp-2702.milesopedia.dev\/en\/wp-json\/wp\/v2\/comments?post=90612"}],"version-history":[{"count":5,"href":"https:\/\/mp-2702.milesopedia.dev\/en\/wp-json\/wp\/v2\/pages\/90612\/revisions"}],"predecessor-version":[{"id":495416,"href":"https:\/\/mp-2702.milesopedia.dev\/en\/wp-json\/wp\/v2\/pages\/90612\/revisions\/495416"}],"up":[{"embeddable":true,"href":"https:\/\/mp-2702.milesopedia.dev\/en\/wp-json\/wp\/v2\/pages\/207228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mp-2702.milesopedia.dev\/en\/wp-json\/wp\/v2\/media\/352454"}],"wp:attachment":[{"href":"https:\/\/mp-2702.milesopedia.dev\/en\/wp-json\/wp\/v2\/media?parent=90612"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mp-2702.milesopedia.dev\/en\/wp-json\/wp\/v2\/tags?post=90612"},{"taxonomy":"mc_loyalty_program","embeddable":true,"href":"https:\/\/mp-2702.milesopedia.dev\/en\/wp-json\/wp\/v2\/mc_loyalty_program?post=90612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}