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Canadian Credit score Playing cards With No International Transaction Charge


Right here’s a wakeup name…

Each time you make a purchase order that isn't in Canadian {dollars} in your bank card, you're charged an enormous price to transform again to Canadian cash.

You may be touring within the USA or abroad and even simply making a web-based buy in one other forex – doesn't matter – that price goes to kick in.

How a lot is a typical Canadian bank card overseas transaction price?

It's virtually universally 2.5%, plus a small unfold that the financial institution itself has to pay and passes on to you the buyer. The full value ought to are available underneath 3%.

With most money again bank cards paying just one% in rewards, that 3% is consuming up your whole rewards after which some!

Worse, when you purchase one thing in a overseas forex, change your thoughts, and return it – you're dinged on each side of the transaction. Which means you’ll lose 5-6% of your cash to the financial institution and don’t have anything to point out for it.

Abstract of the highest bank cards with no overseas alternate charges

Bank cardWelcome bonusEarn CouncilAnnual price, revenue necessitiesApply Now
Scotiabank Passport Visa Infinite25,000 factors (phrases)* 2 factors per $ 1 on groceries, eating, leisure, and day by day transit
* 1 level per $ 1 all different purchases
$ 139, both 60Ok workers, 100Ok family revenue requirementApply Now
Scotiabank Gold American SpecificAs much as 30,000 factors (phrases)* 5 factors per $ 1 on groceries, eating places, and leisure
* Three factors per $ 1 on gasoline, transit, and choose streaming companies
* 1 level per $ 1 all different purchases
$ 120, no revenue necessitiesApply Now
House Belief Most well-liked Visanone* 1% money again on eligible purchases$ 0, no revenue necessitiesApply Now

Plus as much as 4% money again.
Ends January 31, 2020.

0% International Transaction Charges Credit score Playing cards in Canada

Provided that 99% of Canadian bank cards cost this price, it could shock you that a couple of playing cards used to exist that charged completely nothing in overseas alternate charges apart from the small unfold the financial institution itself pays.

Sadly, these playing cards have accomplished a disappearing act. Playing cards just like the Sears Mastercard and some Scotia playing cards that had been grandfathered axed the overseas forex low cost, and even the Rogers Credit cards, which is taken into account one of many Finest International Alternate Credit score Playing cards, offers cardholders bonus rewards as a substitute of waiving the price.

And sadly, it appears to be like like Chase could also be winding down their enterprise right here in Canada altogether, having bought off lots of the playing cards of their portfolio. Plus, after asserting that they’d be closing all Chase Amazon.ca Visa and Chase Marriott Visa accounts on March 15th, 2018, on the planet of No International Alternate Charge playing cards, there are solely slim pickings left.

Prime International Transaction Charge Credit score Playing cards


Simply after we had been all beginning to lose hope, Scotiabank has stepped in to supply Canadians a premium journey rewards card with versatile rewards, a stable insurance coverage package deal, and a few actually enjoyable journey advantages – with the ,

Cardholders will earn 2 factors per greenback spent on qualifying grocery retailer, restaurant, leisure, and day by day transit (i.e. buses, subways, and taxis) purchases, and 1 level per greenback spend on all different purchases.

Except for the truth that is that this one of many uncommon playing cards that waives the standard 2.5% overseas forex alternate price, it additionally stands out due to the insurance coverage it consists of:

  • 12 out of 16 sorts of buy and journey insurance coverage,
  • and even higher is that if you’re over the age of 65, you’re nonetheless coated by 10 days of emergency medical insurance coverage, which is rarer nonetheless.

Throw in a Precedence Go Membership, 6 complimentary lounge passes, a free secondary card, and the power to earn 10,000 bonus factors yearly – and the one actual draw back is the $ 139 annual price.


A brand new member to the no fx price membership is the ,

It now has a welcome bonus of 25,000 factors (+5,000 extra when you spend $ 10,000 on eligible purchases within the first yr) and fees no overseas alternate charges, along with incomes you factors on your whole purchases.

And also you’ll earn loads of factors at these earn charges:

  • 5 factors per $ 1 on eating places, groceries and leisure purchases,
  • Three factors per $ 1 on gasoline, transit and choose streaming companies, and
  • 1 level per $ 1 on every thing else.

For plenty of factors and no overseas alternate charges, this card has you coated.

This little hidden gem is at the moment one of many solely playing cards out there in Canada that offers you a overseas forex conversion price of 0% – at $ Zero annual price.

And whereas the considered a card with no overseas transaction price alone is music to our ears, the , doesn't cease there.

This card offers you 1% money again on all of your purchases, with no limits or restrictions to the quantity you possibly can earn.

You additionally get buy and journey insurance coverage included at not further value. So, when you’re touring and having fun with your no overseas alternate price transactions, you possibly can know that you’re coated.

To high all of it off, this card comes with a free Roadside Help Membership. For a bank card with no annual price, that is principally unprecedented.

And sure, you probably did learn that appropriately. This card has no annual price, no overseas alternate price and no limits on the quantity of rewards you possibly can earn!

Rogers Platinum Mastercard

So far as no price money again bank cards go, this card is a rocket.

Some premium high-fee money again bank cards wrestle to supply a flat 1.25% money again return with no caps or limits, but the simply comes proper out and does it. Wham!

On high of that, cardholders get a 1.75% increase in rewards (3% complete) when making purchases in a overseas forex. That's virtually pretty much as good as having the two.5% price waived… besides if you wish to return one thing. Then you definately're out of luck, you'll lose your 3% rewards and be slammed with the two.5% price each methods.

This card even offers you a $ 25 money bonus and a 2% return on any Rogers payments (Fido and chatr included) you cost to the cardboard.

Apart from that, the one draw back is the cardboard is totally devoid of any form of included insurance coverage protection – however that’s greater than you might hope for with a no price card that has superior rewards anyway.

Rogers carries one other card that’s virtually an identical – the ,

House Belief Secured Visa

A improbable card for constructing or rebuilding your credit score, the House Belief Secured Visa additionally comes with a barely decreased overseas alternate transaction price of two% as a substitute of the standard 2.5%.

There aren’t any frills with this card, however it does haven’t any annual price except you select to scale back your rate of interest to 14.90% by paying an additional $ 59 per yr – however that's utterly non-compulsory.

You aren't going to avoid wasting a ton on overseas purchases with this card, however when you're rebuilding your credit score anyway, it's a pleasant further.

RBC Cathay Pacific Visa Platinum

The is a reasonably normal journey rewards bank card linked to a serious airline. You earn 1 mile per $ 1 spent on most purchases, with a 2 mile per $ 1 spent bonus on Cathay Pacific on-line journey purchases.

Some research exhibits Cathay pacific flights often give a 2 cents per mile worth, which means you’ll sometimes get a 2% return in your spending.

However, there’s additionally a uncommon bonus for all purchases in overseas forex that offers you 1.25 miles per $ 1 spent, a 25% bonus. That pumps your return on spending as much as 2.5%, which means you’ll probably break even after paying the two.5% overseas forex price.

The cardboard comes with different advantages like on the spot inexperienced tier standing within the Cathay Pacific Marco Polo Membership and first rate included insurance coverage protection.

Not one of the best card for FX financial savings, however not a foul choice when you wish to fly Cathay Pacific.

Beat The Financial institution’s Alternate Charges

There's no cheaper method to alternate cash than utilizing a 0% overseas transaction price bank card.

Banks sometimes cost 3%, or extra, to transform your cash in particular person and the speed for doing it on-line is often about the identical except you’re changing massive sums of money. If you wish to convert any leftover money after your journey is over, now you're paying that 3% + a second time.

You’ll even do higher than you’d at these low cost overseas forex alternate locations and also you don’t should make an additional journey.

Simply swipe your no FX card, and smile figuring out you didn't waste any time or pay a dime greater than you wanted to.

Preserving one in every of these playing cards in your pockets only for overseas transactions is totally price it.

Nonetheless undecided?

Nonetheless not likely satisfied that you just need to decide to a brand new bank card only for making overseas forex purchases?

There may be another choice that isn't a bank card however is approach higher than money when touring. Two pay as you go playing cards in Canada additionally cost no overseas alternate charges as nicely. There's no credit score rating examine required and no worries about overspending.

It's like a approach higher, safer, easy-to-use model of a traveler’s examine with decrease than regular forex conversion charges.

The primary is the . a pay as you go Mastercard card that fees no annual or overseas transaction charges while you use it overseas.

When you're curious to know extra, you will discover out all the small print right here.

The is one other nice pay as you go card to think about. For an annual price of $ 84 (or $ 9 per thirty days), you'll additionally pay no overseas transaction charges and earn rewards on each buy:

  • 2% money again on groceries, gasoline, eating places, and transit purchases, and
  • 0.5% money again on every thing else.

Bonus: Use our code CGGBONUS and get an additional 1% money again on every thing for the primary 90 days.

For extra particulars on KOHO, you possibly can see them right here.

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