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average rating is 4 out of 5

Low annual fee

Fuel Savings

Complimentary DashPass Subscription

About this card

Carrying a balance on your credit card can get expensive—especially when standard interest rates in Canada often exceed 20%. If you’re focused on saving money and avoiding unnecessary fees, a low-interest credit card can make a significant difference in your financial life. The RBC® Visa Classic Low Rate Option targets Canadians who want predictable costs, an easy-to-understand fee structure, and a few practical perks. While it doesn’t compete with premium cards on rewards or travel benefits, it stands out for its simple approach and cost-saving features. Here’s a closer look at what makes this card a solid choice for budget-conscious users and those looking to pay down existing debt.

RBC® Visa Classic Low Rate Card

BMO VIPorter World Elite Mastercard

$199

/ per year

BMO VIPorter World Elite Mastercard
average rating is 4.3 out of 5

A travel rewards card for frequent flyers who want fast-track status, strong welcome bonuses, and easy redemptions with Porter and Air Transat.

TD® Aeroplan® Visa Infinite Card

$139

/ per year

TD® Aeroplan® Visa Infinite Card
average rating is 4.5 out of 5

Perfect for Air Canada flyers, this card earns Aeroplan points on all purchases, with accelerated earning on Air Canada and travel-related expenses. Benefits include a free first checked bag and priority boarding on Air Canada flights.

American Express
Cobalt® Card

$155.88

/ per year

American Express
Cobalt® Card
average rating is 5 out of 5

The American Express Cobalt® Card is a choice for Canadians who prioritize earning rewards on everyday spending, particularly in categories like dining, groceries, and streaming services. Its flexible Membership Rewards program and strong earn rates make it especially appealing to those who can maximize its benefits.

    • Low, fixed interest rate: Offers a competitively low 12.99% APR on purchases, cash advances, and balance transfers, locked in and not tied to prime—perfect for those who sometimes carry a balance.

    • Low annual fee: Just $20/year, and the first additional card is free—great value for what you get.

    • Bonus perks: Includes fuel savings of 3¢/L at Petro‑Canada (plus 20% more Petro‑Points) and a 3‑month DashPass subscription for unlimited $0 deliveries on DoorDash.

    • Purchase security & extended warranty: Offers 90-day insurance on new purchases and extends manufacturer warranties by one additional year.

    • No travel insurance: This card doesn’t include standard travel coverage—which is common for higher-fee cards.

    • Foreign transaction fee applies: A typical 2.5% FX fee is charged on non-Canadian currency transactions.

    • Not ideal for rewards chasers: With no points or cash back beyond the partner perks, those focused on earning travel or daily rewards might find better options elsewhere.

    • Aside from the ongoing promotional offers this card offers, there is no initial promotional offer.

    • Minimum Personal Income: Not Listed

    • Minimum Household Income: Not Listed

    • Suggested Credit Score: 660+

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