If you are a person who carries a balance month to month on a bank credit card, you’re going to want to find the lowest credit card rate possible.
The two lowest interest rate credit cards in Canada (offered by Canadian Banks) are the ScotiaLine Visa, which is a secured credit card which carries a current interest rate of (Prime + 1.00% = 4.00%) and the TD Emerald Visa which carries a current interest rate of (Prime + 1.75% = 4.75%). Rates are as of June 1, 2011. Both of these cards happen to be Visa cards. The lowest interest rate bank mastercard available in Canada is the National Bank Synchro MasterCard with an interest rate of 8.90%.
Typically in order to qualify for credit card rates with a very low interest you need to have an excellent credit rating.