While it does have a minor annual fee compared to the no fee low interest cards on this list, the RBC Visa Classic Low Rate Option offers a competitively-low fixed interest rate of 12.99% on purchases and a few perks like savings on gas.
Pros:
- Low interest rate: low fixed purchase interest rate of 12.99%, which doesn’t change with the Bank of Canada’s prime rate and will save you on interest charges if you carry a balance
- Save on gas: save 3 cents per litre at Petro Canada gas stations and earn 20% more Petro points when you link your card to a Petro Points account
Cons:
- No balance transfer offer currently available
- Does not include any insurance benefits besides the standard purchase assurance and extended warranty
