Long-term balance transfer credit cards

Need more time to repay your debt? Find out how to compare long-term balance transfers with 0% or low interest for up to 12 months.

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If you’re struggling to pay off your debt across multiple credit cards, moving your debt onto one single credit card with an introductory zero or low interest rate could be an option to consider. With a balance transfer credit card, you can secure 0% or low interest for up to 12 months and focus on paying off your debt virtually interest free.

Before you start applying, read our guide to learn how to compare long-term balance transfer credit cards and discover the features you should consider in order to find the best card for your financial situation.

Scotiabank Value Visa Card

Scotiabank Value Visa Card

12.99 % APR

Purchase interest rate

Eligibility criteria, terms and conditions, fees and charges apply

Scotiabank Value Visa Card

Apply today and enjoy a 0.99% introductory interest rate on balance transfers for the first 6 months when your new credit card account is opened by July 1, 2020.

  • Purchase interest rate: 12.99%
  • Cash advance rate: 12.99%
  • Intro balance transfer rate: 0.99% for the first 6 months
  • Standard balance transfer rate: 12.99%
  • Annual fee: $29
  • Minimum income: $12,000
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Compare long-term balance transfer credit cards

Name Product Purchase Interest Rate Balance Transfer Rate Annual Fee Minimum Income Reward Description
BMO Preferred Rate Mastercard
12.99%
3.99% for the first 9 months (then 12.99%)
$20
$15,000
Take advantage of an introductory balance transfer offer, annual fee waiver in the first year, and low purchase and cash advance interest rates.
Get a rate of 3.99% on balance transfers for 9 months with a 1% transfer fee. Plus, get the $20 annual fee waived in the first year.
Scotiabank Value Visa Card
12.99%
0.99% for the first 6 months (then 12.99%)
$29
$12,000
Save on interest for 6 months by consolidating your higher-rate balances with the balance transfer offer, and get an on-going 12.99% interest rate on purchases, cash advances and balance transfers.
Get a 0.99% introductory interest rate on balance transfers with a 0% transfer fee for the first 6 months. Apply by July 1, 2020.
No-Fee Scotiabank Value Visa Card
16.99%
3.99% for the first 6 months (then 16.99%)
$0
$12,000
Save with a low interest rate, no annual fee and a balance transfer offer.
Get a 3.99% introductory interest rate on balance transfers with a 0% balance transfer fee for the first 6 months. Apply by July 1, 2020.
Tangerine World Mastercard
19.95%
1.95% for the first 6 months (then 19.95%)
$0
$60,000
Earn 2% cash back in two categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and 0.5% cash back on everything else.
Get a 1.95% interest rate on balance transfers for the first six months (valid within the first 30 days of account opening).
Tangerine Money-Back Credit Card
19.95%
1.95% for the first 6 months (then 19.95%)
$0
$12,000
Earn 2% cash back in two categories of your choice (or three categories if you open a Tangerine Savings Account and directly deposit your cash back into the account), and 0.5% cash back on everything else.
Get a 1.95% interest rate on balance transfers for the first six months (valid within the first 30 days of account opening).
BMO AIR MILES Mastercard For Students
19.99%
1.99% for the first 9 months (then 22.99%)
$0
$15,000
Earn 2 AIR MILES for every $20 spent at eligible AIR MILES partners, and earn 1 AIR MILE for every $20 spent elsewhere.
Receive up to 800 AIR MILES Bonus Miles. Plus, get a 1.99% introductory interest rate on balance transfers for 9 months. A 1% fee applies to balance amounts transferred.
BMO CashBack Mastercard For Students
19.99%
1.99% for the first 9 months (then 22.99%)
$0
$15,000
Get 1% cash back on all eligible purchases.
Get up to 5% cash back in the first three months (up to a maximum spend of $2,000). Plus, get a rate of 1.99% on balance transfers for 9 months, with a 1% fee for every transferred balance.
BMO AIR MILES Mastercard
19.99%
1.99% for the first 9 months (then 22.99%)
$0
$15,000
Get 2 AIR MILES for every $20 spent at eligible AIR MILES partners, and get 1 AIR MILE for every $20 spent elsewhere.
Earn up to 800 AIR MILES Bonus Miles. Plus, get a rate of 1.99% on balance transfers for 9 months. A 1% fee applies to transferred balances.
BMO CashBack Mastercard
19.99%
1.99% for the first 9 months (then 22.99%)
$0
$15,000
Get 1% cash back on all eligible purchases.
Get up to 5% cash back on all eligible purchases in the first three months of card membership (up to a maximum spend of $2,000, and earn 1% cash back thereafter). Plus, get a rate of 1.99% on balance transfers with a 1% balance transfer fee for nine months.
Scotia Momentum Visa Card
19.99%
2.99% for the first 6 months (then 22.99%)
$39
$12,000
Earn 2% cash back on all eligible gas station, grocery store and drug store purchases and on recurring bill payments (up to a $25,000 annual spend), and earn 1% cash back on all other eligible purchases (and on all eligible purchases once the $25,000 annual spend is reached).
Get a 2.99% introductory rate on balance transfers and a 0% balance transfer fee for the first 6 months. Apply by July 1, 2020.
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*The products compared on this page are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.

What is a long-term balance transfer?

A long-term balance transfer credit card offers 0% interest on balance transfers for up to 12 months. Sometimes they can be as long as 30 months, however this can be quite difficult to find. Meanwhile, other balance transfer cards may only charge no interest for three to six months.

Cards with long interest-free balance transfer terms are designed to help cardholders who have a large amount of debt or need more time to repay their debt without collecting interest on top of it. At the end of the promotional period, any remaining debt will collect a higher revert rate. So, even if you have a card with a long balance transfer deal of 12 months or more, you should aim to pay off your balance before the promotional period ends.

How to compare cards with a long-term 0% interest balance transfer offer

Before you apply for a balance transfer credit card, there are some factors you should consider first:

  • How long is the interest-free period?
    Balance transfer cards generally offer 0% interest on balance transfers for 3-12 months, but the exact promotion will vary between credit card providers and the specific credit card. To decide how long you’ll need, consider the amount of debt you have and divide it by the number of months in the promotional period. This is how much you’ll have to pay each month to clear the debt before the revert interest rate applies. If you don’t think you can afford this repayment each month, consider a card with a longer interest-free period to reduce and spread out your monthly repayments.
  • Is there a balance transfer fee?
    You will likely be charged a balance transfer fee when you first move your debt. This one-time fee usually ranges between 1% and 3% of the transfer amount, however it can reach as high as 5%. If you have a lot of debt, this can be a substantial fee, so consider it carefully.
  • What’s the revert interest rate?
    At the end of the promotional period, any remaining balance will attract the revert interest rate. This is usually the standard cash advance rate, which generally sits around 19.99%. Your goal with a balance transfer credit card should be to repay your entire balance before this interest rate kicks in. However, it’s an important factor to consider in case you’re unable to pay off your debt in the promo period so you’re not hit with a nasty surprise when the introductory period ends.
  • Does the card charge an annual fee?
    Some cards with long-term balance transfers offers have no annual fee, however this may only be for the first year. Some cards will charge annual fees that can range from a small amount into the hundreds. Before you apply for a card, make sure that the annual fee doesn’t offset the savings you’ll get from the interest-free period.

A long-term balance transfer credit card can help you get your debt under control without paying the additional cost of interest. However, it’s important that you plan ahead to ensure you can pay off your debt in full before the revert interest rate kicks in, so that you can get the most out of your 0% interest balance transfer card.Check out our guide to 0% interest balance transfer credit cards

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