Best Credit Card Interest Rates Canada

Sticking with the sample example let s say you owe a 3 000 balance on credit card x. To find a credit card s daily interest rate simply divide its apr by the number of days in the year.

Previously you must understand the background of Credit and get some Best credit card interest rates canada references in other articles on this website.

To show you how important it is to compare interest rates let s say you have a balance of 1 000 on a credit card with an interest rate of 20 99 apr.

Best credit card interest rates canada. If you only made monthly payments of 50 on this debt it would take you around 2 years to pay off your balance and would cost you about 212 in interest. The modulo visa from the desjardins group a canadian co operative of credit unions has a lot. Your daily interest rate would be 0 0438 15 99 apr 365 days in the year you d owe 1 3142 in interest after one day 0 0438 x 3 000.

The mbna true line gold mastercard charges an extremely low annual interest rate of 8 99 on purchases for an annual fee of just 39. The true line gold mastercard from mbna currently offers the lowest fixed interest rate for. That annual interest rate is less than half that charged by traditional credit cards and so makes it the perfect card to use if you re planning a big purchase that you don t quite have the cash saved up for.

You can transfer up to a maximum of 7 500 and pay no balance transfer fees. In addition to this it also offers new cardholders a 1 99 balance transfer rate for 6 months. The american express essential credit card offers one of the best low interest rates you will find in canada.

Other perks of this card are.

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