Canada
Balance Transfer Credit Cards in Canada: Fees, Deadlines and When They Pay Off
Canadian transfer offers run shorter and cost more than US ones. The arithmetic is tighter.
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- Typical intro period
- 9-12 months
- Typical fee
- 1%-3%
- Revert APR
- About 20%-22%
- Reality
- Short window, must clear fast
Windows are short
Most Canadian offers run under a year. A 12-month window on $7,000 needs about $585 a month to clear - plan the payment before the application.
A 3% fee on $7,000 is $210
Against $122 of monthly interest at 21%, break-even is under two months. Beyond that the fee is earning its keep, but only if the payoff fits the window.
Watch the fee-to-window ratio
A short window with a high fee is the worst combination. If the payoff does not fit, a fixed-rate loan is the better product in Canada.
Promotional terms can exclude spending
New purchases often revert immediately. Move the balance, then put the card away.
FAQ
Does a transfer affect my credit?▾
A hard inquiry and a new account, offset by lower utilisation.
Can I transfer a balance from the same bank?▾
Usually not.
Is 0% common in Canada?▾
Less so than the US - expect shorter windows.
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