Credit card with low interest from Canadian bank?

Jason · #1 12-10-2008, 06:23 PM

Hi,

I'm looking for a low interest credit card from a Canadian bank, and I would appreciate you suggest a credit card with less than 12% interest. I don't need a high credit limit, and about $5,000 will do.

Thanks,

Jason

Canadian · #2 12-10-2008, 06:27 PM

Are you looking for a credit card with no yearly fee. If you are OK with a small yearly fee, than the Visa Classic Low Rate Option from Royal Bank has 11.9% APR as of today, and I think it will work for you.

bronto18 · #3 12-11-2008, 01:58 PM

Quote:

Originally Posted by Canadian

Are you looking for a credit card with no yearly fee. If you are OK with a small yearly fee, than the Visa Classic Low Rate Option from Royal Bank has 11.9% APR as of today, and I think it will work for you.

But to qualify for this card you probably need to have perfect credit history? Even there is a small yearly fee the interest rate is too low and I doubt they approve everyone for this card.

Jason · #4 12-11-2008, 02:14 PM

Thanks Canadian,

I'm fine with a yearly fee for the credit card, as long as the fee is no higher than $50. Do you know what is the yearly fee for the Visa from RBC you were talking about? Also do you know if they charge a fee for additional cards?

Thanks,

Jason

Canadian · #5 12-15-2008, 01:43 PM

The card has $20 annual fee, which isn't much and the additional card is free, so I think the Visa Classic Low Rate Option will work for you. Here is the link to the card page on the RBC site:

http://www.rbcroyalbank.com/cards/pe...lassic_lr.html

trent · #6 12-16-2008, 03:55 PM

You can check the CIBC Visa Select Card:

http://www.cibc.com/ca/visa/select/s...visa-ftrs.html

Right now it has $29 yearly fee and 11.5% APR.

Jason · #7 12-18-2008, 01:01 PM

Thanks guys,

I've applied for the CIBC Visa Select Card as it has slighly lower interest rate for the moment, compared to the Visa from RBC. I'll keep you posted how it goes.

Jason

Canadian · #8 01-05-2009, 04:06 PM

Quote:

Originally Posted by Jason

Thanks guys,

I've applied for the CIBC Visa Select Card as it has slighly lower interest rate for the moment, compared to the Visa from RBC. I'll keep you posted how it goes.

Jason

Did they approve you for the card? If yes, did CIBC give you the requested credit limit?

I've heard from 2 people already that they were denied credit cards and I'm curious what happened with you?

Steven · #9 01-06-2009, 03:14 PM

I just got a Visa credit card from RBC, without problems.

Canadian · #10 01-06-2009, 03:30 PM

Thanks Steven,

It's good to hear that Canadian banks still offer credit to Canadian consumers.