The Best No FX Fees Credit cards
These credit cards are among the only credit cards in Canada that do not charge a conversion fee for foreign currency transactions. You’ll save 2.5% on each foreign transaction!
Here is a table summarizing the different offers. For more details, read on or click on the name of a card.
HSBC World Elite® Mastercard®
The HSBC World Elite Mastercard is an excellent no-conversion-fee credit card for foreign currency purchases, especially for your travel purchases.
For a limited time, you can get:
- Up to 110,000 points (a $550 value in travel rewards) if you live in Quebec and with no minimum purchase!
- Up to 80,000 points (a $400 value in travel rewards) and first-year annual fee waiver if you live outside Quebec
With the HSBC World Elite® Mastercard®, you can earn:
- 6 points per dollar for travel purchases (flights, hotels, Airbnb, all-inclusive, etc.)
- 3 points per dollar for all other purchases including Costco
This means a return of 1.5% to 3% depending on your purchases!
You can easily redeem your points on any travel purchase made with the HSBC World Elite Mastercard (flights, hotels, Airbnb, all-inclusive, etc). But you can also transfer your points to three airline loyalty programs: British Airways Executive Club, Asia Miles and Singapore Airlines Krisflyer.
In addition, the HSBC World Elite Mastercard comes with:
- $100 Annual Travel Credit (for airport lounges, for example)
- Unlimited access to Boingo WiFi hotspots around the world
- 10% discount for hotel bookings on Expedia or Agoda
- Premium insurance for your travels and purchases
Finally, the HSBC World Elite Mastercard does not charge any conversion fees for foreign exchange transactions: you save 2.5% for each transaction.
Scotiabank Platinum American Express® Card
For a limited time, when you sign up for the Scotiabank®* Platinum American Express® Card, you can earn up to 70,000 points. That’s $700 worth of travel including Airbnb.
With the Scotiabank®* Platinum American Express® Card, you earn 2 points per dollar spent on all purchases. You can redeem your points on travel purchases (flights, hotels, all-inclusive and even Airbnb). And you can also use them for other rewards in the Scene+ program, such as cash back rewards.
Plus, with this card, you will not pay 2.5% foreign transaction fees on any foreign currency purchases, and you get ten complimentary visits to airport VIP lounges with the Priority Pass and Premium Plaza networks.
And you get excellent insurance for your travels or purchases, concierge service, and exclusive American Express Offers (American Express Invites Program).
Scotiabank Gold American Express® Card
The Scotiabank Gold American Express® Card only requires a minimum income of $12,000.
For a limited time, you can earn up to 45,000 points in the first year, which is a $450 value for travel purchases including Airbnb. Plus, the first year is free!
With the Scotiabank® Gold American Express® Card, you earn 6X Scene+ points on every $1 you spend at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry and Co-Op.
Also, you earn 5 points per dollar for:
- grocery stores
- Restaurants
- Entertainment
And 3 points per dollar on gas, transit and streaming services purchases.
You can redeem your points on travel purchases (flights, hotels, all-inclusive and even Airbnb). You can also use your points as cash back rewards with Scene+.
The Scotiabank Gold American Express® Card is a no foreign transaction fee card. It has Premium travel and purchase insurance, Concierge services, Exclusive Benefits American Express (Front of the Line Program).
Scotiabank Passport™ Visa Infinite* Card
With the Scotiabank Passport™ Visa Infinite* Card, you earn 30,000 points on just $1,000 in purchases, a value of $300. And each year, if you make at least $40,000 in Card purchases, you’ll earn 10,000 additional points ($100 value).
In addition, there is no annual fee for the first year.
With the Scotiabank Passport™ Visa Infinite* Card, you earn 3X Scene+ points on every $1 you spend at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry and Co-Op.
Also, you earn 2 points per dollar for:
- grocery purchases
- dining purchases
- Entertainment
- Transportation
The Scotiabank Passport™ Visa Infinite* Card is an excellent Visa credit card for these types of purchases.
You can redeem your points for any travel purchases (flights, hotels, all-inclusive and even Airbnb). You can also use your points as cash back rewards with Scene+.
The Scotiabank Passport™ Visa Infinite* Card also offers:
- no foreign transaction fee
- 6 complimentary passes to airport VIP lounges
- Premium insurance for your travels or purchases
- Concierge services
KOHO Premium Mastercard Prepaid Card
Special Offer:
- Enter the code BESTOF2023 when applying for your card
- Get $40 in your KOHO account after the first purchase within the first 30 days
The features of the KOHO Premium Mastercard Prepaid card are as follows:
- 2% cash back on groceries (including Costco and Walmart), dining and transportation
- 0.5% cash back on all other purchases†
- Accepted at Costco
- No FX fees
- 1 free international ATM withdrawal per month
- Monthly fee of $9 (or $84 per year) with a 30-day free trial
Frequent Asked Questions about credit cards
Here are frequently asked questions in the milesopedia community about credit cards in Canada.
What is the best credit card in Canada?
There are more than 200 credit cards in Canada. There is no “one best credit card” in Canada.
Several credit cards can match your needs:
What is the best American Express credit card in Canada?
There are more than 30 American Express credit cards in Canada. Check out our best American Express Credit Cards page.
What is the best Mastercard credit card in Canada?
There are more than 90 Mastercard credit cards in Canada. Check out our Best Mastercard Credit Cards page.
What is the best Visa credit card in Canada?
There are more than 80 Visa credit cards in Canada. Check out our Best Visa Credit Cards page.