The Motley Fool

The Best Balance Transfer Cards for 2021

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The Motley Fool Canada’s top secured credit card picks at a glance:


CIBC Select Visa Card

Good for: 0%-interest balance transfers

Our Rating:

5.0 stars


Top Perks
  • Annual fee rebated for the first year
  • Travel accident insurance
  • No fee for up to 3 additional cards


Balance transfer offer

0% interest for 10 months on balances transferred during the online application (13.99% after that).
1% balance transfer fee.

Rewards / Cashback

None

Annual fee:

$29

Eligibility:

Credit rating: Good


PC Financial World Elite Mastercard

Good for: Low-rate, no-fee balance transfers plus rewards

Our Rating:

5.0 stars


Top Perks
  • 6 months 0.97% interest on balance transfers made in first 90 days
  • Car rental and travel emergency medical insurance
  • Identity theft assistance service


Balance transfer offer

0.97% interest for 6 months on balances transferred in the first 90 days (22.97% after that).
No balance transfer fee.

Rewards / Cashback

30 PC Optimum points per $1 at President’s Choice grocery stores (like Loblaws, No Frills, and valu-mart)
45 PC Optimum points per $1 at Shoppers Drug Mart
30 PC Optimum points per $1 at Esso, Mobil, and PC Travel
10 PC Optimum points per $1 everywhere else

Annual fee:

$0

Eligibility:

Credit rating: Very good
Minimum income: $80,000 (individual), $150,000 (household)


BMO Air Miles Mastercard

Good for: Low-rate balance transfers plus rewards

Our Rating:

5.0 stars


Top Perks
  • Extended warranty and purchase protection
  • 25% discount on rentals from participating National Car Rental and Alamo Rent a Car
  • 15% discount at Cirque du Soleil touring Canada and 20% off resident shows in Las Vegas


Balance transfer offer

1.99% interest for 9 months on balance transfers (22.99% after that).
1% balance transfer fee.

Rewards / Cashback

1 BMO AIR MILE for every $25 spent and 3x miles for spend at participating AIR MILES partners.

Annual fee:

$0

Eligibility:

Credit rating: Good


Tangerine Money-Back Credit Card

Good for: Low-rate balance transfers and cashback

Our Rating:

4.5 stars


Top Perks
  • 6 months 1.95% interest on balance transfers made in the first 30 days (1% fee applies, 19.95% interest after 6 months)
  • Get a 3rd 2% rewards category if transferring rewards into a Tangerine savings account
  • Purchase coverage for the first 90 days


Balance transfer offer

1.95% interest for 6 months on balances transferred within the first 30 days (19.95% after that).
1% balance transfer fee.

Rewards / Cashback

2% Money-Back Rewards in two categories of choice
0.5% Money-Back Rewards on everything else

Annual fee:

$0

Eligibility:

Credit rating: Good
Minimum income: $12,000


BMO CashBack Mastercard

Good for: Low-rate balance transfers and cashback

Our Rating:

4.5 stars


Top Perks
  • Up to 5% cashback for the first 3 months (good through October 31, 2021)
  • Extended warranty and purchase protection
  • Discounts from participating National Car Rental, Alamo Rent a Car, and Cirque du Soleil


Balance transfer offer

1.99% interest for 9 months on balance transfers (22.99% after that).
1% balance transfer fee.

Rewards / Cashback

3% cashback on groceries, 1% cashback on recurring payments (like streaming services and monthly utilities), 0.5% on all other spending

Annual fee:

$0

Eligibility:

Credit rating: Good


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