Updated: Tue, 26 Feb 2013 14:00:00 GMT | By MoneySense
Canada’s best low-rate credit cards

If you carry a balance sometimes, get a low-rate credit card so you can pay it off faster.

Low-rate cards will help you pay off your balance quickly. (© iStock)
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  • Low-rate cards will help you pay off your balance quickly. (© iStock)
  • Capital One Gold MasterCard
  • Desjardins Modulo Gold Visa
  • National Bank Syncro MasterCard
  • MBNA TrueLine MasterCard
  • Capital One Fusion Platinum MasterCard
  • TD Emerald Visa
  • Capital One Platinum MasterCard
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If you don’t pay your balance off every month of the year, get a low-rate card. Rewards cards have high interest rates, plus they are proven to increase consumer spending. “When someone’s on the fence about a purchase they could say to themselves, ‘Well at least I’m getting the miles,’” says Matt Wallaert, a behavioural psychologist.

MoneySense look at the cards that save you the most in interest charges — after fees are factored in.

* Video: Best ways to tackle credit card debt

For more on how MoneySense crunched the numbers, see their methodology.

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