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Credit Cards with No Foreign Transaction Fees

No international transaction fee credit cardFor years, many credit cards have charged extra fees on purchases made outside of the United States, known as foreign transaction fees, or international transaction fees. In recent years, however, many credit cards have eliminated these fees, especially for travel-related credit cards, or as a perk for cards with an annual fee. Below is a list of credit cards that charge no foreign transaction fees, along with a note on whether or not the card has an annual fee:

  • Capital One Credit Cards #8211; Capital One does not charge foreign transaction fees on ANY of its credit cards, and has not charged these fees for years.
  • Amazon Rewards Visa #8211; Amazon#8217;s credit cards have no foreign transaction fees, no annual fee, and you can earn Amazon reward points on all purchases.

  • BankAmericard Travel Rewards Visa #8211; Travel points credit card has no foreign transaction fee. No annual fee.
  • Barclaycard Ring MasterCard #8211; No foreign transaction fees, no annual fees, and a low interest rate as well. Unfortunately, no rewards program, either.
  • The Citi ThankYou Premier Card is a rewards card with a $95 annual fee but no foreign transaction fees. Do not confuse it with the no-annual-fee ThankYou Preferred Card, which does charge fees on international purchases.
  • Chase Sapphire Preferred #8211; No foreign transaction fee, but a $95 annual fee after the first year. The Chase Sapphire Reserve also charges no foreign transaction fees, but has an annual fee of $450.
  • The United MileagePlus Explorer and United MileagePlus Club Card both come with no foreign transaction fees, but have annual fees of $95 and $450, respectively.
  • Southwest Airlines Rapid Rewards Premier Card #8211; This is the top-level Southwest credit card, with a $99 annual fee. While it has no foreign transaction fees, do not confuse it with Southwest#8217;s other Rapid Rewards #8220;Plus#8221; Card, which does have a foreign transaction fee.
  • Marriott Rewards Premier Credit Card #8211; This Marriott rewards credit card with an $85 annual fee has no foreign transaction fees.

Credit One Bank® Platinum Visa® for Building Credit - See if you Pre-Qualify without harming your credit score. +This fully unsecured credit card with no deposit requirement can be helpful in growing or building credit. Your account activity will be reported monthly to all three major credit bureaus. +All the features you want in a credit card are included. Get 1% cash back on eligible purchases, take advantage of free online credit score tracking, and enjoy credit line increase opportunities. Terms apply.


Top Offers with No Foreign Transaction Fees

When you use your credit card while travelling abroad, you may notice one fee on your receipt or credit card statement - a foreign transaction fee (sometimes also called a currency conversion fee). That is a standard fee of 2-3% on any purchase made with a credit card outside the U.S. But you can avoid this fee if you have a no foreign transaction fee card. There are credit cards out there that charge no foreign transaction fees, and you can find some of them below.

  • New! We’ll monitor your Social Security Number. Get an alert if we find your Social Security Number on any of thousands of risky websites.* Activate for FREE.
  • Match Mile For Mile: We’ll match all the Miles you’ve earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
  • Unlimited 1.5x Miles per dollar on all purchases, every day, with no annual fee.
  • No Blackout Dates - fly any airline, stay at any hotel.
  • Redeem your Miles as a statement credit towards travel purchases.
  • Freeze your account in seconds with an on/off switch either on the mobile app or website to prevent new purchases, cash advances, and balance transfers.
  • Get your FICOВ® Credit Score for free on monthly statements, on mobile and online.
  • No Annual Fee.
  • Click APPLY NOW to see rates, rewards, FICOВ® Credit Score terms, Discover MatchВ® details other information.
  • Earn 50,000 bonus miles after you spend $3,000 on purchases in the first 90 days — that's enough to redeem for a $500 travel statement credit
  • Earn 2X miles on all purchases
  • Redeem for travel or cash back statement credits, gift cards and merchandise. Redemption values vary
  • Get 5% miles back to use toward your next redemption, every time you redeem
  • Miles don't expire as long as your account is open, active and in good standing
  • No foreign transaction fees on anything you buy while in another country
  • 0% introductory APR for 12 months on Balance Transfers made within 45 days of account opening. After that, a variable APR will apply, 16.99%, 20.99% or 23.99%, based on your creditworthiness. Please note, there is a fee for balance transfers
  • New! We’ll monitor your Social Security Number. Get an alert if we find your Social Security Number on any of thousands of risky websites.* Activate for FREE.
  • You could turn $150 into $300 with Cashback Match™. Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
  • Earn 5% cash back in rotating categories each quarter like gas stations, Amazon.com, restaurants, wholesale clubs and more, up to the quarterly maximum each time you activate. Plus, 1% cash back on all other purchases.
  • Redeem your cash back for any amount, any time. Cash rewards never expire.
  • 100% U.S. based customer service.
  • Get your FICO® Credit Score for free on monthly statements, on mobile and online.
  • No annual fee.
  • Click APPLY NOW to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details other information.
  • Earn 30,000 bonus points after you spend $1,000 on purchases within the first 90 days
  • Earn 6 points per $1 on JetBlue purchases, 2 points per $1 at restaurants and grocery stores and 1 point per $1 on all other purchases
  • No blackout dates on JetBlue-operated flights redeem for any seat, any time on JetBlue-operated flights. Points required for an Award Flight will vary based on the published base fare at the time of booking
  • Points awarded in your TrueBlue account don't expire.
  • Earn and share points together with Family Pooling
  • Earn 5,000 bonus points every year after your account anniversary
  • 50% savings on eligible inflight purchases like cocktails and food the primary cardmember's first checked bag is free on JetBlue-operated flights
  • Enjoy TrueBlue Mosaic benefits for one year after you spend $50,000 or more on purchases each calendar year with your card
  • Enjoy a $100 statement credit after purchasing a JetBlue Vacations package of $100 or more with your JetBlue Plus Card
  • New! We’ll monitor your Social Security Number. Get an alert if we find your Social Security Number on any of thousands of risky websites.* Activate for FREE.
  • Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
  • 2% cash back at restaurants and gas stations on up to $1,000 in combined purchases every quarter - no sign-ups needed. Plus, 1% cash back on all your other purchases.
  • Redeem your cash back for any amount, any time. Cash rewards never expire.
  • 100% U.S. based customer service.
  • Get your FICO® Credit Score for free on monthly statements, on mobile and online.
  • No annual fee.
  • Click APPLY NOW to see rates, rewards, FICO® Credit Score terms, Cashback Match™ details other information.
  • Receive 80,000 bonus points after you spend $3,000 on purchases in your first 3 months from your account opening with your Marriott Rewards Premier credit card. 2
  • Plus, earn 7,500 bonus points when you add the first authorized user and make a purchase in the first 3 months from account opening. 2
  • Earn 5 points for every $1 spent at over 5,700 participating Marriott RewardsВ® and SPGВ® hotels. 2
  • Earn 2 points for every $1 spent on airline tickets purchased directly with the airline, and at car rental agencies restaurants. 2
  • Earn 1 point for every $1 you spend on all other purchases with your card. 2
  • All for a low $85 annual fee. 2
  • See additional Marriott Rewards® Premier credit card details. 2
  • Earn 5,000 bonus points after you spend $1,000 on purchases in the first 90 days.
  • Earn 3 points per $1 on JetBlue purchases, 2 points per $1 at restaurants and grocery stores and 1 point per $1 on all other purchases.
  • No blackout dates on JetBlue-operated flights redeem for any seat, any time on JetBlue-operated flights. Points required for an Award Flight will vary based on the published base fare at the time of booking.
  • Points awarded in your TrueBlue account don't expire.
  • Earn and share points together with Family Pooling.
  • 50% savings on eligible inflight purchases like cocktails and food on JetBlue-operated flights
  • No foreign transaction fees
  • Chip technology $0 Fraud Liability protection

No international transaction fee credit card

  • It takes less than 1 minute
  • Will Not Affect Your Credit Score

No Extra Fees with No Foreign Fee Cards

When money is tight, it’s good to have a few tricks up your sleeve for painlessly saving money. Everyone has heard the old advice about making coffee at home and skipping the fancy latte on the way .

October 07, 2016

If you've ever been slapped with a credit card fee, you know it's no fun at all. You can incur a fee for making a late payment, getting money out of an ATM, buying something with your card overseas, .

Ask our credit card experts and you'll receive the answers by e-mail.

Credit Card Fees

No international transaction fee credit card

No international transaction fee credit card

No international transaction fee credit card

2 The card´s rates, fees and other terms are subject to change. Therefore, we do not guarantee that information presented on this page is current and up to date. Please, visit the bank´s or credit card company´s website to review the current Terms Conditions.


Best Credit Cards With No Foreign Transaction Fee

Find the best credit card with no foreign transaction fee to save money while traveling abroad.

(Tatiana Kolesnikova/ Getty Images)

Best Credit Cards With No Foreign Transaction Fee

Find the best credit card with no foreign transaction fee to save money while traveling abroad.

(Tatiana Kolesnikova/ Getty Images)

When it comes to use outside the U.S., not all credit cards are created equal. Many credit cards carry a surcharge that is levied when cardholders make purchases while traveling abroad. Known as foreign transaction fees, these charges can quickly accumulate for cardholders who travel often, even to the point of canceling out any rewards earned through spending.

However, foreign transaction fees are generally becoming less prevalent on today’s credit cards. Regardless of the type of card you are looking for, you can usually find one that meets your needs and also does not charge foreign transaction fees. These cards can help make foreign travel safer, less expensive and more convenient with their associated card perks and benefits.

Related Low Rates and Fees Categories

What Are Foreign Transaction Fees?

Foreign transaction fees, or FX fees, are costs added onto your statement for purchases made outside the U.S that pass through a foreign bank or are made in a foreign currency. This includes online purchases from a seller in a foreign country that are not made in dollars. The fee is calculated as a percentage of the purchase price, usually between 2 and 3 percent.

When you make a credit card purchase in a foreign country, your credit network converts the foreign currency to dollars using its exchange rate process. It then charges your bank an FX fee based on that dollar amount, typically 1 percent, to offset that conversion cost and to address the added risk of fraud inherent to international transactions. Your bank passes that FX fee on to you and adds its own fee of 1 to 2 percent.

Through a process known as dynamic currency conversion, it is possible to be charged in dollars while traveling abroad, but for a variety of reasons, you should always avoid it.

Dynamic currency conversion

At the point of sale, a foreign merchant may ask if you want to be charged in dollars instead of local currency, so that you have a better idea of what the item you’re purchasing costs. While this dynamic currency conversion may sound like a good idea, it’s best to decline and pay in local currency.

Also, the fee that merchants tack onto your bill for the convenience of paying in dollars can be as high as 7 percent of the purchase price. As Business Insider points out, shopkeepers in busy stores in tourist areas may be unable or unwilling to inform you of the extent of their fee. Additionally, it might not save you from paying a foreign transaction fee, as some credit cards charge an FX fee even for foreign transactions in U.S. dollars, just at a slightly lower rate.

Finally, you’re much more likely to get a better exchange rate by letting your credit card provider do the currency conversion to dollars.

Choosing a Card With No Foreign Transaction Fee

Determine what type of credit card you want.

There are many types of credit cards that don’t charge a foreign transaction fee. So when choosing a card with no foreign transaction fee, first figure out what type of credit card you want and then select the best one in that category with no fee.

If you have a below-average or poor FICO credit score, you will want to choose a credit card for bad credit that also has no foreign transaction fee.

Make sure the card is widely accepted overseas.

You should verify that the card can be used overseas. Visa and MasterCard are the most widely accepted, with the former serving customers in more than 210 countries and the latter serving more than 200 countries. It’s unlikely to find a merchant that won’t accept either card.

Due to higher processing fees, American Express and Discover have much lower acceptance rates worldwide than Visa and MasterCard. They’re fairly well-accepted in the U.S., Canada and Mexico, but less so elsewhere. For example, you can’t use a Discover card in half the countries in South America, more than a dozen countries in Africa, and European countries like France and Ukraine.

American Express doesn’t publish exactly where you can find merchants who accept its cards, but travel experts routinely caution against taking only an American Express card on an overseas trip. Still, AmEx is improving its global reach and has joined Visa and MasterCard in partnering with Apple to allow customers to pay for purchases abroad through Apple Pay with any merchant equipped to handle NFC transactions, or mobile payments.

Make sure the card has an EMV chip for maximum usability.

Europay, MasterCard and Visa, or EMV for short, is a security technology that has only recently gained significant acceptance in the United States but has been widely used around the world for years. While the standard in Europe, Asia, Latin America, Australia and elsewhere are chip-and-PIN EMV cards, the U.S. has predominantly adopted chip-and-signature EMV technology.

Nevertheless, chip-and-signature cards should work in virtually all situations and should definitely be the cards you depend on overseas. Unchipped, magnetic-stripe cards should work; in fact, merchants who accept Visa and MasterCard are required to accept magnetic-stripe cards. But some merchants can be wary of them and may refuse to accept them, mistakenly thinking they will be held liable for fraudulent transactions on an unchipped card, even though that liability lies with your bank. Unattended service kiosks like those at train stations are also known to present problems for chipless cards, requiring travelers to seek out an attendant and potentially wait in long lines.

Look for useful travel benefits.

Many cards with no foreign transaction fees stand out as great travel cards thanks to their extensive travel benefits. World Elite MasterCards and Signature Visa cards in particular offer perks like:

  • Trip cancellation/interruption insurance
  • Trip delay reimbursement
  • 24/7 concierge services
  • Lost luggage reimbursement
  • Car rental theft and collision coverage
  • Baggage delay insurance
  • Roadside assistance
  • 24/7 customer service

While these benefits are helpful for any trip, cards from both networks can prove extremely useful when traveling in a foreign country. For example, 24/7 concierge services can help you plan your international journey all the way down to details like dinner reservations. They also provide lots of emergency services, which are detailed below in Advice for Traveling Abroad With Your Credit Card.

The Best Credit Cards With No Foreign Transaction Fee

U.S. News selected the best cards with no foreign transaction fee across a wide variety of credit card types.

Best for large travel spending and large sign-up bonus

Best for low travel spending and sign-up bonus with no annual fee

Best for United flyers

Best for American Airlines flyers

Best for JetBlue flyers

Best for Southwest Airlines flyers

Best for Virgin Atlantic flyers

Best for hotel spending

Best for business rewards and large sign-up bonus

Best for flat-rate cash back rewards with sign-up bonus


Travel Tip: Avoid Foreign Transaction Fees On Your Canadian Credit Card

No international transaction fee credit cardMany Canadians are in for a nasty surprise after a trip outside the country. Little did they know that most Canadian credit card companies add a 2.5%-3% foreign transaction fee to each purchase they make out of the country. The good news is, not every credit card issuer charges the fee. The bad news is, only two credit card issuers in Canada subsidize the fee, Chase Canada Rogers Mastercard .

Unlike the United States, where credit card issuers are increasingly abandoning foreign transaction fees altogether, FX fees represent too large a part of a Canadian credit card company#8217;s income stream to walk away from. The fact is, Canadians travel out of country a lot more often than Americans travel out of the United States, so it#8217;s easier for an American issuer to give up on FX fees than for a Canadian issuer.

For a quick proxy, 30% of Americans have a passport, compared to 70% of Canadians, a good indication of foreign travel. Moreover, Canadian banks make a healthy profit from foreign exchange services from their retail customers, where they charge a 1% to 3% fx surcharge when exchanging Canadian dollars. It#8217;s doubtful the banks will want to offer Canadians a free alternative that will cannibalize their retail fx business.

So what#8217;s the big deal about a credit card that subsidizes foreign transaction fees? For some, especially snowbirds who winter in the south, people who shop across the border regularly or shop online, or those who use their credit card to make business purchases from U.S. vendors, the savings can be huge. Think about it. If you use your credit card while wintering in the United States, you could easily rack-up $10,000 #8211; $20,000 in credit card charges. That#8217;s $250 to $500 in foreign exchange fees going to the credit card companies, that doesn#8217;t have to. Not to mention it also wipes away the 1-2% in rewards you thought you were earning.

The Rogers Platinum Mastercard now gives you 4% cash back on ALL foreign purchases and 1.75% cash back on all other purchases #8211; the richest cash back rate for a no fee card in Canada. On $10,000 of foreign spend that#8217;s $400 in rewards earnings. Other cards like the Marriott Rewards or Amazon Visa card (the Amazon credit card is no longer offered to NEW applicants in Canada as of April 3rd, 2017) waive the 2.5% foreign transaction fee, but only offer 1% in rewards or less.

The Rogers Mastercard foreign transaction subsidy is different than the Amazon or Marriott Rewards cards, but still offers significantly more value than either of those cards. Rogers offers 4% cash back on foreign purchases, but charges 2.5% in foreign transaction fees #8211; the net cash back rate is thus 4% cash back #8211; 2.5% fx fee = 1.5% in net cash back. The Amazon card used to offer 1% cash back with no foreign transaction fees, 1% cash back #8211; 0% fx fee = 1% in net cash back. As a result, Rogers offers 50% more cash back than the Amazon Visa card.

Not only that, using a credit card that subsidizes your foreign transaction fee is actually cheaper than exchanging currencies at the bank, or at a boutique foreign exchange bureau #8211; which routinely cost anywhere from 1%-3% to exchange your money. Debit and out of country ATM cash withdrawals are no better, each typically charging a 2.5% or more foreign exchange fee.

Comparison of Canadian Credit Card Foreign Transactions Fees

Foreign Transaction Fee Offer

4% cash back on all foreign purchases

$120 Waived 1 st Year

Hopefully more Canadian credit card issuers , that don#8217;t have a large share of their spend in foreign purchases, or an established foreign exchange business, will step up to the plate and waive their foreign transaction fees. Perhaps some of the more niche issuers like President#8217;s Choice, WalMart, or Canadian Tire can shake things up a little bit the way Rogers and Chase have.

As of right now though, Rogers and Chase are the only game in town, and they#8217;re offering Canadians a SUPERLATIVE opportunity, just not enough of us know about it. Here#8217;s your chance#8230;who know#8217;s how long it will last (looks like Chase is leaving the country).

By the way, for those who think you#8217;re avoiding foreign transaction fees by having a U.S. Dollar credit card, unless you earn American dollars, you#8217;re not avoiding anything. Ultimately, you#8217;ll have to pay your U.S. Dollar credit card bill in U.S. dollars, and you#8217;ll have to convert your Canadian dollars to U.S. dollars at the bank to do so. At that point the bank will charge you it#8217;s 1%-3% foreign exchange surcharge.

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I JUST READ ROGERS MASTERCARD AGREEMENT AND IT SAYS: All transactions made in a foreign currency are converted to Canadian dollars at the rate established by Mastercard International in effect on the date that we post the transaction to your Account (which may not be the same date as the date of the transaction) plus an amount equal to 2.5% of the transaction amount after it has been converted to Canadian dollars.

SO THEY CHARGE YOU THE SAME 2.5% THAT ALL CARDS CHARGE YOU BUT THEY GIVE YOU BACK 1.5% IN CASH CREDITS? I#8217;M READING THIS CORRECTLY? THEY ARE CHARGING YOU A CURRENCY FEE LIKE THE OTHER CREDIT CARDS#8230;.I BELIEVE.

Thanks for you question on how the foreign currency transaction fee works. The Rogers Mastercard has a unique method for making foreign purchases cheaper, and it operates exactly as you#8217;ve already guessed. The card does charge you 2.5% for each purchase made in a foreign currency, but then adds 4% back on top (as cash). This effectively nulls the charge, plus 1.5% #8211; giving cardholders an incentive to buy from abroad. It#8217;s better than exempting customers from the 2.5%! Many Canadians love it for buying in the US and in Europe, and we hope you will too.

We hope that helps,

Can you confirm / comment on this?

Home Trust preferred Visa

No foreign transaction fees

1% cash back with no limits

Hi Fred, thanks for coming to us for confirmation.

Unfortunately, the Home Trust Preferred VISA does not include an exemption from foreign transaction fees. It does, however, have the other perks and benefits you#8217;ve described.

If you#8217;re looking for a card without the foreign transaction fees or an annual fee, check out the Rogers Mastercard . In most ways, it vastly improves upon the Home Trust card but may be more difficult to get approval for. If you need further guidance, please return with more comments here. We#8217;ll be waiting!

When I looked at Home Trust Preferred Visa#8217;s Cost of Borrowing disclosure it states a foreign currency conversion cost of 0%. #8220;Purchases or Cash Advances in a foreign currency will be converted into Canadian dollars at the exchange rate set by Visa International in effect on the day the transaction is posted to the Account, plus a 0% currency conversion charge.#8221;

Is this incorrect then?

Thank you for any further clarification.

Hi Christine. Good eyes #8211; the fine print does indeed say that it costs 0% to make purchases or cash advances in a foreign currency (though Visa will use the spot rate for exchange). You were definitely right on this one! Here are the exact words:

Purchases or Cash Advances in a foreign currency will be converted into Canadian dollars at the exchange rate set by Visa International in effect on the day the transaction is posted to the Account, plus a 0% currency conversion charge.

We hope that helps,

Hi, if you also kindly share what Christine and Ivan had found about Home Trust disclosure statement on #8220;0% Foreign Currency Conversion#8221;, then aside from your #8220;past#8221; review picking Home Trust Secured Visa No Annual Fee for those with #8220;Bad Credit#8221;, would any of you (still) find a caveat(s) in their disclosure, hold reservation or still have any reason(s) to pass on this Home Trust Preferred, Equityline or any of their credit cards for that matter (e.g., due to considering this year#8217;s news of this embattled company#8217;s solvency issue caused by bank run from recent controversial disclosure filing allegation by the OSC and short sellers, though that OSC dispute reportedly resolved and might #8220;currently#8221; be #8220;propped up#8221; by Berkshire Hathaway#8217;s legendary Warren Buffet investments). In other words, will you be updating your helpful consumer awareness articles at some point in the future (when you are less busy to focus on it) or perhaps it is still accurate to accept #8220;The bad news is, only two credit card issuers in Canada subsidize the fee, Chase Canada Rogers Mastercard#8221; pending your further review of HT itself and its practices. Thanks.

Thanks for your thorough dissection of the issue at hand. We always appreciate smart cardholders who can tell us something new!

This matter is another story, however, as we#8217;re aware of the discrepancies and are updating to the Home Trust Preferred card. This will soon reflect on the site. In the meantime, we remain available to those who need quick assistance with their credit card inquiries, and are always working to keep ahead of this quickly-changing industry. Thanks again!

According to Home Trust preferred visa disclosure statement there are no foreign conversion fee. The benefit isn#8217;t advertised but is listed. What am I missing?

Hey Jayson, thanks for stopping by GreedyRates.

Though it may not be advertised in all places, Home Trust cardholders will pay 0% in transaction fees when making purchases in a foreign currency. The spot exchange rate still applies, but the fine print doesn#8217;t lie: no extra fees here. You#8217;re not missing anything, but you may have been confused by our lack of coverage. We will integrate it into our articles to avoid misunderstandings in the future. Enjoy your 0% transaction fees!

Actually, it has 0% foreign exchange fee. Oddly enough, this awesome feature IS NOT stated on their website!

However, you can find it in cardholder agreement.

I just did a application for the home trust preferred visa and it states 0% for foreign currency fees in the terms of the credit card which you can view before making a application. Card looks great to me.

Hi Fred, have confirmed from analysis with the visa exchange rate calculator that the transactions are indeed free of foreign transaction fees as per their #8220;0% Foreign Currency Conversion written#8221; on Home Trust Preferred Visa application Disclosure Statement, which include currency exchange fee-free on cash advances and returns that Rogers always charges their 2.5% fee. In fact, Home Trust has had the zero foreign transaction fee on their Home Trust Equityline Visa for their mortgage customers way before this Preferred one (just ask their VP Miki Asano) so as an fyi summary #8211; this Home Trust Preferred Visa may be suitable for those who #8220;qualify#8221; for a straight 1% without limit cash back credit card without annual fee plus as per their brochures with free basic roadside assistance (up to 4 calls), primary car rental CDW insurance and purchase security insurance among other benefits that are completely missing from both Amazon and Rogers (though the latter two have 2% for Amazon.ca purchases and up to 1.75% cash back respectively). Also, unlike Amazon credit card online tool that is in flux, transactions show up being processed virtually instantaneously as among other features of the Home Trust#8217;s ezcardinfo online tool. This alternative lender, however, has to work on getting some phone app/pay wave feature and currently, if you are looking for that, need more cash back payout options other than annually and/or want huge cash back 1% then do look elsewhere. Hope that helps.

Why is TD claiming that their TD U.S. Dollar Visa* Card saves you the foreign currency exchange fee on their website? Isn#8217;t that deception? I#8217;m so frustrated. I have almost no income and Im trying to build credit. Almost all my purchases online are from the US and Europe because Canadian retailers more often then not refuse to stock quality plus size clothing. I have a learning disability, one of the deficits math related which makes anything but very basic computation confusing. Looks like you need a lot of financial literacy to work around the financial institution credit gouging. I think because of my income the best I can do is stick with the only card my bank offers that has no annual fee. UGH

Thanks for your questions, and don#8217;t worry! We will help you to understand why TD says this and what it means for your purchases abroad. The TD U.S. Dollar VISA card is great for Canadians like yourself who buy online from American retailers. When buying an item that is sold in the United States, no retailer wants to handle Canadian dollars, and so the issuing bank charges their customer (you) a 2.50% fee for converting to the retailer#8217;s currency.

TD is correct when they say that a U.S. store will not charge you this transaction fee when purchasing from Canada, because the account and card are loaded with USD, not CAD. Therefore, your go-to store will see that you#8217;re paying with USD and not assign any extra fees.

However, this means that if you#8217;re buying from Europe that you will be charged this fee, because over there they use Euros, Pounds, and other foreign currencies. It#8217;s also important to note that the TD U.S. Dollar card has an annual fee of $39, so you must be ordering in USD frequently to make it worth your while. Hope that helps! Feel free to get back to us for further clarification if necessary.

Hi, I#8217;ve been checking these recommendations in July 2017.

At present, the Marriott offer appears to be the same, though I only read far enough to confirm it#8217;s $120/yr after the first year.

The Rogers offer has changed however: That card is only #8220;no-fee#8221; if you pre-authorize payments for a Rogers,k Chatr, or Fido account on the credit card, otherwise there is an annual fee of $29.

Most of the details described for the Rogers Platinum Mastercard now apply to Rogers Bank#8217;s other offering, the Fido Mastercard. The Fido card has no fee, but has a lower cash-back rate for domestic purchases: 1.5% vs 1.75%. There are several downsides coming from a Scotiabank card, but if you want to avoid the 2.5% foreign exchange fee (if only by putting it against your cashback) then it seems there#8217;s no other no-fee option.

What Scotiabank card are you talking about?

I have the chase marriott and the fee after first year is offset by a free nite at a marriott hotel up to cat 5 which is usually at least $100.00. You have up to 6 months to use hotel credit. I have had it for 3 years and since we do a lot of travelling find it great

I use my chase amazon.ca visa for shopping online (mostly at amazon) and it also has 0% foreign transaction fees. The Chase website is pretty ugly, though!

#8220;The new applications for the Amazon.ca credit card are no longer accepted as of April 3rd, 2017. Existing Amazon.ca customers will still be serviced and will be able to receive new cards.#8221;

But this card is not available anymore :O(

Me too I use the Chase Amazon card for online shopping. I was lucky that I got it when I did.

Hello! I think you should consider adding the Desjardins Visa U.S. card. The purchases are billed in USD so there is no conversion fees on U.S. dollar transactions. Annual fees 30 USD.

Thanks for your advice and for being a loyal reader of GreedyRates!

We always appreciate when people give us suggestions for our site, and in this case we are happy to agree with you. The Desjardins Visa U.S. card is indeed an impressive contender for the travel category, and accordingly it has a place among the finalists on our Best Travel Credit Cards page. We are still looking into its placement on other pages, and are considering some new additions as well.

As always, our review team is working hard to determine a final list. Thanks again for reading and sharing your comments with us! Have a great day.

I have used a CIBC US dollar Visa card for many years. I pay $US 35 annually. The reason I am still ahead by paying the bill in US cash is that I buy the cash when the exchange rate is good, at my bank where I have a preferred rate. (Every longterm customer should insist on this). I buy $1000 or more each time, which also helps the rate. If I didn#8217;t have US cash on hand when my US bill arrived, I#8217;d be subject to current exchange rate, and in that case it wouldn#8217;t be much of an advantage.

I also use the card often for shopping, for instance on line at Amazon.com, either to save 50% on the same products on Amazon.ca or for products not available in Canada. If sellers will not send to Canada, I have used a US address depot to receive my purchases just over the border in New York State.

My main card is the TD Infinite Visa affiliated with Aeroplan. Will you be publishing an analysis of what Aeroplan devotees should be doing, ramping up to 2020?

We#8217;re so sorry that we took a long time to respond to you, and we#8217;re very grateful that you took the time to write to us. It sounds like you have it all figured out! While bank exchange rates vary, it is smart to withdraw cash in bulk for the month when the rate is at its lowest. This is a unique workaround, and we may even incorporate this advice into our newer articles (great job!). The CIBC card is also great for shopping, as you mentioned.

Concerning what to do with your TD Infinite Aeroplan Visa, we think that for the time being, you#8217;re safe to continue using it, but you may want to research similar cards (on GreedyRates of course!) for when the official breakup of Aeroplan and Air Canada happens in 2020. For more information on this, check out our article here: http://www.greedyrates.ca/blog/how-air-canada-aeroplan-breakup-affects-aeroplan-members/

Thanks again for reading,

Is this the only U.S. card that have no conversion fees on U.S. dollar transactions? What about RBC U.S. card or CIBC?

As Veronica mentioned, the Desjardins card is another relatively good card if you want to be exempt from foreign transactions (for US dollar purchases only). However, if you like, we also recommend exploring the Rogers Mastercard mentioned above, and the Marriott Rewards card in the chart at the bottom of the article. The latter card, while not mentioned much on this page, provides excellent hotel and flight rewards alongside an exemption from foreign transaction fees.

As for RBC and CIBC#8217;s US cards, these are an alternative, but we warned that they require you to open a US dollar account, meaning that if you#8217;d like to use it within Canada, you#8217;ll pay a foreign transaction fee for buying in your local area. Be sure to read the fine print, and ensure that no fees are taken from transactions made in all countries (even your own).

We hope that helps,

Please update this article. I got a Rogers Bank Platinum Card based partly on this recommendation and discovered after using the card extensively during travel that the #8220;4% Cash Back#8221; is NOT CASH BACK. It is a store credit at the Rogers store! I called their customer service and they told me they considered the credit to be #8220;cash#8221; so they do not consider it to be false advertising.

We are very sorry for this late reply, and even more so for the misunderstanding caused by the representative to whom you have spoken to. We got official confirmation from the Rogers bank that #8220;The customer can apply their cash back against any Rogers [card] purchase either instore or online or more importantly, they can redeem against their Rogers bill. Or, they can contact us once per year to receive a statement credit for the value of the points.#8221;

We hope this helps clearing things out.

I#8217;m a snowbird and I#8217;ve been using the Scotia Momentum card (transferred over from Sears/Chase), which will start charging the currency conversion charge as of June 1st, so am looking for a replacement. From reading your article, it appears my only choices are Rogers/Fido and Marriott.

Unfortunately, unless I have missed something in reading their web pages, none of these are a true cash back card, like Scotia was, but rather a rewards card (like the old Sears/Chase card that had no conversion charge) and the points are only good for use at Rogers/Fido or Marriott. Is this right?

Amazon would have been good, as it was just a straight credit on the charge account, but as you pointed out, they aren#8217;t taking new applications.

Hey Brenda, thanks for asking us for clarification.

We understand that you want a true cash back card that does not charge foreign transaction fees on your travels, and are concerned that Scotia will soon be returning to the model of charging these fees. Technically, the Rogers Mastercard is a cash back card, but the method they use to counteract foreign fees is simply by rewarding 4% cash back on these purchases. This means that after the 2.5% fee, you#8217;d earn 1.5% on things you buy abroad (or in foreign currencies).

Regarding Marriott, alongside straightforward exemption from foreign transaction fees, it accrues points only for the Marriott (and Ritz Cartlton, and Starwood Preferred Guest) rewards system. It doesn#8217;t sound like you#8217;re into the hotel rewards, so we recommend checking out the Roger#8217;s Platinum Mastercard instead. Good luck!

Rogers isn#8217;t a viable option because on top of the 2.5% foreign transaction surcharge, the 4% #8216;cashback#8217; isn#8217;t actually cashback as it can only be used as a credit on rogers products. The 2.5% foreign transaction surcharge on top of the rates set by visa and mc (which are already at 1-1.5% above the mid-market rate, so banks make money even with 0% foreign transaction surcharge). So foreign transaction surcharge is really close to 4% here

Getting a USD card at a Canadian institution isn#8217;t a viable option either because a) annual fee b)no, or almost no rewards c) you still got to exchange from CAD to USD. If the banks exchange it for you, they#8217;ll also charge you 3-4%, so you#8217;re even worse off. You can use an fx broker to get it down close to 1%, but by the time you do that, and given the lack of rewards, this option isn#8217;t viable.

Last option is getting a USD card at a US financial institution. The vast majority of US issuers will NOT grant you credit without a SSN and/or US address. I tried Chase, citi capital one and a few others. But I know of at least 1 #8211; RBC Bank (US). BMO Harris bank wasn#8217;t sure if they could grant me credit or not, and I never heard back from them #8211; they have a 3% fx fee on non-USD transactions anyways though. TD Bank seems like an even better option, but i#8217;m waiting to hear back if they will accept me yet without a US address. The employee wasn#8217;t sure. TD bank USA has the added benefit that a few of there credit cards have no foreign transaction fees on non-USD transactions, plus decent rewards to. I have gone with RBC Bank with the time being, but they do charge a 1.5% fee on non-USD transactions if I were to do any. So pretty good, but not quite as good as TD#8217;s credit card. Getting a US credit card rather than a no fx fee CAD credit card has the added benefit that there#8217;s no 1.5% charge on top of the mid market rate, although with a no fx fee CAD card, that charge still occurs. Plus you still get rewards with US credit cards from US institutions

Now for the fun part. Getting your US credit card paid. You can#8217;t do it from a Canadian financial institution. You need to set up a US bank account with a US institution. The bank account does NOT need to be with the same institution that you have your US credit card with, although it does make it a little bit easier. Between TD/RBC/BMO Harris USA banks, TD actually seems the worst of the 3 because of monthly. BMO seems the best because of no fees, and RBC follows closely in 2nd IMO because they have some no-fee savings account options with limited transactions, and a low fee US chequing account for which the balance can be waived, with unlimited transactions.

Although you don#8217;t need to have your US bank account with your US issuer, you should have a US dollar bank account with a Canadian financial institution. This is because you need to be able to make cross border payments and cibc/td/rbc are the only ones I know that will allow you to do this easily for free. So make sure to take a look at the US dollar account options at canadian financial institutions as well.

Why are these banks not charging a boatload of money for transfers between the USA Canada? Well they are actually. If you don#8217;t have a US dollar savings account on both ends the banks take 3-4% on currency conversion #8211; again a rip off. In order to avoid this you need to find a good fx broker. You can get the currency conversion down to as low as 0.5% from the mid-market rate #8211; a far better deal than any bank will give you. You#8217;ll likely need to send your fx broker an EFT in CAD funds, and they will then deposit to your US savings account @ a US financial institution via Direct Deposit. Then you can transfer it over. Most FX brokers will offer to wire funds directly to a destination account in another country, so you bypass the need for a US account at a Canadian bank although. The problem is wires are expensive, so they almost always charge extra for this (usually about $15, which is still a lot better than the banks which charge $40-100). If they don#8217;t charge the $15, they are embedding that cost somewhere in the currency exchange.

So the last step is now to find an FX broker. I#8217;m not going to give out recommendations here, because I don#8217;t want to be advertising for any of them I#8217;m not affiliated with them. But if you want some suggestions, shoot me a reply or email.