Best Travel Credit Card Canada No Foreign Transaction Fee

In fact scotiabank is the only major bank in canada that offers this feature.

Best travel credit card canada no foreign transaction fee. Capital one ventureone rewards credit card 20 000 mile initial bonus for spending 1 000 in the first three months and 1 25 miles per 1 on all purchases. The scotiabank gold american express card is a great flexible rewards card that can give you fantastic value on travel while also saving you on the foreign transaction fees when you get there. Credit cards with no foreign transaction fee in canada are a rare breed. This top 0 foreign exchange travel credit card may just be the staple card your wallet needs.

One little known fee when it comes to credit cards is the foreign transaction fee. But since they re available why pay those silly 2 5 currency conversion rates every time you make a purchase outside of canada. Combined with its welcome offer of 30 000 bonus points for new scotiabank cardholders and six free visits per year to priority pass airport lounges this card is a great choice for an all in one travel card. The best no fee credit cards in canada 2020.

The ultimate no foreign transaction fee credit card portfolio the amazon card charges a 2 5 foreign transasction fee but rewards a 2 5 return on those purchases essentially making it a no foreign transaction fee card. Basically 95 of canadian credit cards charge a fee of 2 5 whenever you make a purchase in any currency besides canadian dollars. So whether it s cash back that you want no foreign transaction fees or generous travel points these no fee credit cards offer gold plated options. This fee isn t a secret since it s clearly outlined in the cardholder agreement but people don t typically notice it because the final amount that shows up on your statement.

When you make foreign purchases on this card no fee is charged only the exchange rate applies and a 100 annual travel enhancement credit allows you to charge seat upgrades baggage fees or. Whether it s the big 5 banks independent issuers like american express or smaller financial institutions the 2 5 foreign transaction fee is pretty much the norm across the industry. Here in canada the vast majority of credit cards will charge a 2 5 fee on transactions denominated in a foreign currency. The 2 5 return is only available to prime members.

Given that 99 of canadian credit cards charge this fee it may surprise you that a few cards used to exist that charged absolutely nothing in foreign exchange fees other than the small spread the bank itself pays. Check out 2020 s top 5 no fx credit cards here. Best no foreign exchange fee credit card in canada.

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