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Canadian banks cutting credit card interest for some clients due to COVID-19

General Angela Calla 8 Apr

Some major Canadian banks are cutting credit card interest for clients that are facing financial hardship because of COVID-19.

Vancity, a local credit union, announced on April 8 that it would defer minimum payments and drop interest rates entirely – to 0% – for their cardholders who are facing financial difficulty because of the pandemic.

In a release on Friday, RBC said it will be by cutting interest by 50$ for small business and personal clients who are already deferring minimum payments on their credit cards.

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Angela Calla is a 16-year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders to get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at or 604-802-3983.