4 Canadian Credit Cards With No Foreign Transaction Fee

Don’t you hate it when you get charged a foreign transaction fee when you use your credit card when travelling abroad? No one likes paying that 2.5% foreign transaction fee. The good news is, there are credit cards in Canada that offer the perk that eliminates foreign transaction fees. In this article, you will learn about four credit cards with no foreign transaction fee.

Disclaimer – Scotiabank credit cards contain my referral link

VIDEO – 4 Canadian Credit Cards With No Foreign Transaction Fee

Home Trust Preferred Visa

The Home Trust Preferred Visa is a bare-bones credit card with no foreign transaction fee. It also offers a 1% cashback for domestic spending. This credit card has no annual fee.

HSBC World Elite Mastercard

The HSBC World Elite Mastercard has no foreign transaction fee. At the moment, there is no annual fee for the first year (typically $149 per year). However, the welcome bonus as of writing this article is only 40,000 which is not very good. I’d wait until they offer 100,000 HSBC points again before applying for this card.

Scotiabank American Express Gold

The Scotiabank AMEX Gold is a Canadian credit card with no foreign transaction fee. It has an annual fee of $120 per year. You will earn 30,000 points after spending $1000 within your first 90 days of card approval. For a limited time, you will earn an additional 10,000 points after spending $7500 within one year. The points will be credited to your account after 2-3 business days of hitting the minimum spending.

This promotion is really good and I will most likely apply for this card in the near future.

Scotiabank Passport Infinite

The Scotiabank Passport Visa Infinite is another Canadian credit card with no foreign transaction fee. This card has an annual fee of $139 per year. You will earn 30,000 Scotia Reward points after spending $1000 within your first 90 days of card approval. You will also earn 10,000 points after you spend $40,000 within your first year. Truthfully, the $40,000 spend is a bit steep and I don’t think most people will try to hit that portion of the minimum spend.

Conclusion

If you strictly want to avoid paying foreign transaction fees but don’t want to pay annual fees, then I think the Home Trust Preferred Visa or HSBC World Elite Mastercard is your best option. The Scotiabank cards are good if you also want to earn a nice sign-up bonus. Although, I am not sure how good the Scotiabank AMEX would be when travelling since most countries don’t take American Express.

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