Best medical credit cards

The BMO Preferred Rate Mastercard is a simple, no-frills credit card with a low interest rate of 13.99% for purchases and 15.99% for cash advances. You won’t earn any rewards points or cash back, but this card’s low rate can help you save money and pay down your balance faster.

• The perks

  • Low interest rates. This card has low APR of 13.99% for purchases and 15.99% for cash advances.
  • Introductory balance transfer offer and annual fee waiver. Get a rate of 0.99% on balance transfers for 9 months with a 2% transfer fee. Plus, get the $29 annual fee waived in the first year. After the introductory period ends, unpaid balance transfer amounts will incur interest at the low rate of 15.99%.
  • Purchase Protection, Extended Warranty coverage and Zero Liability protection. Charge the full purchase price of eligible personal property and gift items to your card, and get coverage against theft and damage for up to 90 days
    from the date of purchase. Plus, extend the original manufacturer's warranty of eligible items for up to 1 year. Additionally, enjoy protection from unauthorized use of your card with Zero Liability coverage. Terms and conditions to apply.
  • Discounts on popular shows.

• What to watch out for

  • Annual fee. This card has an annual fee of $29.
  • No cash back or rewards and limited perks. You won’t earn any cash back, rewards or travel miles with this card. You also won’t get many of the perks included with other cards on the market such as complimentary travel insurance, car rental benefits and discounts on flights and hotels.
  • Balance transfer fee. This card comes with a balance transfer fee of 2%.
  • Foreign transaction fee. This card has a foreign transaction fee of 2.5%. This will apply on any overseas purchases or any purchases made online with an international retailer.

With no cash back or rewards points, the Scotiabank Value Visa Card doesn’t come with a lot of extra perks. But it can be a great tool for saving money. Get a 0% introductory interest rate on cash advances for the first 6 months. Plus, pay no annual fee in the first year. Apply by October 31, 2023.

• The perks

  • Low interest rates. This card has low purchase and cash advance interest rates of 12.99%. Plus, once the balance transfer ends, any unpaid balance will incur the low rate of 12.99%.
  • Balance transfer offer. Get a 0% introductory interest rate on cash advances for the first 6 months. Plus, pay no annual fee in the first year. Apply by October 31, 2023. Afterwards, the interest rate reverts to 12.99% and a $3.50 fee will be applied to future balance transfers.

• What to watch out for

  • Annual fee. This card has an annual fee of $29.
  • No cash back or rewards. You won’t earn any cash back or rewards with this card.
  • Foreign transaction fee. This card has a foreign transaction fee of 2.5%. This will apply on any overseas purchases or any purchases made online with an international retailer.

With no cash back or rewards points, the Scotiabank Value Visa Card doesn’t come with a lot of extra perks. But it can be a great tool for saving money. Get a 0% introductory interest rate on cash advances for the first 6 months. Plus, pay no annual fee in the first year. Apply by October 31, 2023.

• The perks

  • Low interest rates. This card has low purchase and cash advance interest rates of 12.99%. Plus, once the balance transfer ends, any unpaid balance will incur the low rate of 12.99%.
  • Balance transfer offer. Get a 0% introductory interest rate on cash advances for the first 6 months. Plus, pay no annual fee in the first year. Apply by October 31, 2023. Afterwards, the interest rate reverts to 12.99% and a $3.50 fee will be applied to future balance transfers.

• What to watch out for

  • Annual fee. This card has an annual fee of $29.
  • No cash back or rewards. You won’t earn any cash back or rewards with this card.
  • Foreign transaction fee. This card has a foreign transaction fee of 2.5%. This will apply on any overseas purchases or any purchases made online with an international retailer.

The Scotia Momentum Mastercard doesn’t come with loads of perks, but it does boast a $0 annual fee and the chance to earn cash back rewards on your purchases. Get 1% cash back on all eligible gas station, grocery store and drug store purchases and recurring bill payments, and get 0.5% cash back on all other eligible purchases.

Enjoy peace of mind with Mastercard Zero Liability Protection, which protects you in the event your card is used fraudulently. Plus, rack up cash back rewards faster by getting an additional card with a $0 annual fee for a friend or family member. Get a 7.99% introductory interest rate on all eligible purchases for the first 6 months. Apply by June 30, 2023.

• The perks

  • No annual fee. Enjoy a $0 annual fee.
  • Earn cash back. Get 1% cash back on all eligible gas station, grocery store and drug store purchases and recurring bill payments, and get 0.5% cash back on all other eligible purchases.
  • Signup offer. Get a 7.99% introductory interest rate on all eligible purchases for the first 6 months. Apply by June 30, 2023.
  • Add an additional cardholder. Add a supplementary cardholder to your account for $0 annually.
  • Acceptable at Costco. You can use this card to pay for purchases at Costco Wholesale Clubs across Canada (Costco membership required).
  • Car rental perks. Get up to a 25% discount at participating Budget and AVIS car rental locations in Canada and the US.
  • Low minimum credit limit. If approved, your credit limit can be as low as $500, which is good if you want to restrict your spending. Alternatively, this card supports a credit limit as high as $100,000. (Note that your actual credit limit will be based on your credit history, income, current debt load and other individual factors).
  • Mastercard Zero Liability Protection. Under Mastercard's Zero Liability Protection, you won't be held responsible for unauthorized use of your card as long as you (1) take reasonable care to protect your card and PIN and (2) report the loss or theft of your card to your financial institution immediately after becoming aware of it.

• What to watch out for

  • Foreign transaction fee. Every time you make a purchase in a foreign currency, you’ll pay a 2.5% fee.
  • Minimum income requirement. You must have a minimum personal income of $12,000 to apply.
  • Limited perks and add-ons. This card doesn’t come with many of the extras you can potentially get with more premium credit cards like travel benefits, discounted tickets to popular events, extended warranty benefits and coverage on your purchases should items get lost, stolen or damaged.
  • Low cash back rate. This card doesn’t offer a very competitive cash back rate compared to other cash back cards on the market.