Best no-conversion-fee credit cards | July 2026

Q: What is the best Visa credit card in Canada with no foreign transaction fee?

There are several credit cards with no conversion fees:- Scotiabank Passport™ Visa Infinite +* Card; - Scotiabank Gold American Express® Card; - Scotiabank Platinum American Express® Card; - Scotiabank Passport Visa Infinite Privilege Card;

Q: Why do most cards charge a 2.5% foreign currency conversion fee?

Conversion fees cover two elements:- Le coût de change appliqué par le réseau (Visa, Mastercard, American Express) — généralement 1 % à 1,5 %.; - La marge de la banque émettrice — habituellement 1 % à 1,5 % ajouté.; The total therefore reaches ~2.5% on the majority of Canadian cards. On $5,000 of foreign purchases, this represents $125 in fees. A no-foreign-transaction-fee card like the Scotiabank Passport® Visa Infinite +* Card entirely eliminates this cost.

Q: Do conversion fees apply to ATM withdrawals abroad?

Yes, and it is doubly expensive:- Les frais de conversion (~2,5 %) s’appliquent au montant en dollars canadiens.; - Des frais de retrait à l’étranger de 5 $ à 10 $ par transaction sont facturés.; - Des intérêts commencent à courir immédiatement sur les avances de fonds (taux annuel de 21 % à 24 %).; The KOHO Mastercard Prepaid Card is one of the only options allowing free withdrawals in over 100 countries without conversion or cash advance fees.

Q: What are the advantages of paying in local currency rather than CAD abroad?

Always pay in local currency. The mechanism called Dynamic Currency Conversion (DCC) offered by some terminals abroad often applies an unfavorable exchange rate (3% to 8% margin), which is higher than your card's rate. By refusing DCC and paying in the local currency, your card applies its own exchange rate (generally the interbank rate + ~1% from Visa/Mastercard), which is always cheaper — even with your card's 2.5% conversion fee.

Q: Which card should I choose for recurring USD purchases (Netflix, AWS, subscriptions)?

For USD subscriptions, two options stand out:- Carte Visa Infinite +* Passeportᴹᴰ Banque Scotia — aucuns frais de conversion + 2 points Scène+ par dollar sur les services en streaming et factures récurrentes.; - Carte Mastercard Rouge de Rogers — sans frais annuels, 2 % de remise sur les achats USD (réduisant le coût net de conversion).; On subscriptions totaling US$100/month (~US$1,200/year), a no-foreign-transaction-fee card saves ~C$30/year compared to a standard card.

The best credit cards with no foreign transaction fees - July 2026

One of the best no-conversion-fee cards is the Scotiabank Passport™ Visa Infinite +* Card: no fees on your foreign currency purchases, saving you 2.5%, with 6 lounge passes and travel insurance included.

This Visa Infinite card requires an annual income of at least $60,000 (or $100,000 per household). Check your eligibility before applying.

These credit cards are among the only credit cards in Canada to charge no conversion fees 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.

Note: The welcome bonuses that come with these no foreign transaction fee cards often only last a few days. Check out the credit card offers ending this month before they disappear.

Scotiabank Gold American Express^® Card

The Scotiabank Gold American Express Card offers an excellent welcome bonus.

Until November 1, 2026, you can earn up to 50,000 bonus Scene+ points, broken down as follows:

30,000 Scene+ points by charging $2,000 in purchases to the card within the first 3 months
20,000 Scene+ points by making $7,500 in purchases on the card in the first year

This represents a value of up to $500 for travel (including Airbnb).

With the Scotiabank Gold American Express Card, you earn 6 points per dollar spent at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà par IGA, Voilà by Safeway, Chalo! grocery stores. 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 centers

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 also offers no foreign transaction fees, excellent insurance for your travel or purchases, concierge service, exclusive American Express benefits like the Front of the Line program.

Scotiabank Passport^® Visa Infinite +* Card

With this welcome offer for the Scotiabank Visa Infinite ^+* Passport^MC Card, you get up to 60,000 Scene+ points as a welcome bonus (a value of $600):

40,000 points after $2,000 in purchases within the first three months
10,000 points after $10,000 in purchases within the first six months
10,000 points after $40,000 in purchases in the first year

Then, each year, if you make at least $40,000 in purchases on the card, you’ll earn an annual bonus of at least 10,000 points, which represents a $100 value.

With the Scotiabank Visa Infinite +* Passport^MD Card, you earn 3 points per dollar spent at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà par IGA, Voilà by Safeway, Chalo! grocery stores. FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry and Co-Op.

You also earn 2 points per dollar spent, including on foreign purchases, in the following categories:

Grocery shopping
Restaurants
Entertainment centers
Transit

The Scotiabank Visa Infinite +* Passport^MD Card is an excellent Visa credit card for these types of purchases.

These points can be used for any travel purchase at a rate of 1,000 points = $10 (flights, hotels, all-inclusive packages, and even Airbnb). You can also redeem your points as cash back with Scene+, for example, at your grocery store checkout at the same rate of 1,000 points = $10.

The Scotiabank Visa Infinite +* Passport^MD Card also offers:

No fees for foreign currency transactions
Get value of up to 10¢/L on your fuel purchases at Shell
6 access to VIP airport lounges
Excellent insurance for your travels and purchases
Concierge service
Travel with confidence with 10 GB of free GigSky global mobile data for 15 days, plus access to GigSky Travel Essentials for essential apps on the go.
Cardholders also receive a free 1 GB/15-day GigSky global mobile data package annually, plus a 20% discount on future GigSky purchases.

We have named this credit card the Best Credit Card with No Foreign Transaction Fees in 2024, 2025, and 2026.

Scotiabank Passport^® Visa Infinite Privilege* Card

With this welcome offer for the Scotia Passport Visa Infinite Privilege Card, you can earn up to 80,000 bonus Scene+ points (a $800 value):

30,000 points by making at least $3,000 in everyday eligible purchases in your first 3 months.
30,000 points after $20,000 in purchases in the first six months
20,000 points by making an eligible purchase in the 14th month after account opening

With the Scotiabank Passport Visa Infinite Privilege Card, you earn:

3X Scene+ points for every $1 in eligible travel purchases
2X Scene+ points for every $1 in eligible purchases at dining and entertainment establishments
1X Scene+ points for every dollar spent on all other eligible purchases

Including on foreign purchases, with no foreign transaction fees.

The Scotiabank Passport Visa Infinite Privilege Card is an excellent Visa credit card for this type of purchase.

These points can be used against any travel purchase at the rate of 1,000 points = $10 (flights, hotels, all-inclusives and even Airbnb). You can also redeem your points for cash back at Scene+, for example, at your local grocery store checkout at the same rate of 1,000 points = $10.

The Scotiabank Passport Visa Infinite Privilege Card also offers:

No fees for foreign currency transactions
10 complimentary airport lounge visits per year
$250 annual travel credit
Excellent insurance for your travels and purchases
Concierge service

Scotiabank^®* Platinum American Express^® Card

For a limited time, by signing up for the Scotiabank Platinum American Express^® Card, you can earn up to 100,000 Scene+ points, worth up to $3,000 in value over the first 14 months (including about $1,000 in travel rewards from the bonus points).

With the Scotiabank Platinum American Express^® Card, you earn 2 points per dollar spent on all purchases. These points can be used against any travel purchase (plane tickets, hotels, all-inclusives, and even Airbnb), and you can also use them for other rewards in the Scene+ program, like cash back.

Plus, with this card, you pay no foreign transaction fees, and you get 10 free accesses to VIP airport lounges (Priority Pass).

And you benefit from excellent insurance for your trips and purchases, premium concierge service, and exclusive American Express Invitations offers.

KOHO Prepaid Mastercard Extra Plan

Special offer:

Enter the code KOHOMILES when applying for your card.
Get 3 months of Extra Plan for free ($18 off per month) and $20 cash back

The KOHO Prepaid Mastercard with Extra Plan (formerly KOHO Premium Prepaid Mastercard) gives you more cash back:

1.5% on food, drinks, groceries, and transportation
0.25% on all other purchases
Up to 5% cash back at selected partner merchants

Your funds earn 2.5% interest (calculated daily, paid monthly) and are protected by CDIC. The card is also accepted at Costco.

For your travels, take advantage of zero FX fees on foreign purchases.

Choose between two payment options for the Extra Plan:

$18/month, billed monthly
$144/year, billed annually (equivalent to $12/month)

Frequent Asked Questions about credit cards

Here are some frequently asked questions in the milesopedia community about credit cards in Canada.

What is the best Visa credit card in Canada with no foreign transaction fee?

There are several credit cards with no conversion fees:

What is the best Visa credit card with no foreign transaction fee?

The best no-conversion-fee VISA credit card is the Scotiabank Visa Infinite + Passport Card.

What is the best American Express credit card with no foreign transaction fee?

The best American Express credit card with no foreign transaction fees is the Scotiabank Gold American Express^® Card.

What is the best-prepaid card with no foreign transaction fee?

The best-prepaid card with no foreign transaction fee is the KOHO Extra Mastercard. With this prepaid card, you can earn up to 1% cash back on your purchases. And you pay no conversion fees for your foreign currency transactions.

Read all about the KOHO Mastercard prepaid card.

Why do most cards charge a 2.5% foreign currency conversion fee?

Conversion fees cover two elements:

Le coût de change appliqué par le réseau (Visa, Mastercard, American Express) — généralement 1 % à 1,5 %.
La marge de la banque émettrice — habituellement 1 % à 1,5 % ajouté.

The total therefore reaches ~2.5% on the majority of Canadian cards. On $5,000 of foreign purchases, this represents $125 in fees. A no-foreign-transaction-fee card like the Scotiabank Passport^® Visa Infinite +* Card entirely eliminates this cost.

Do conversion fees apply to ATM withdrawals abroad?

Yes, and it is doubly expensive:

Les frais de conversion (~2,5 %) s’appliquent au montant en dollars canadiens.
Des frais de retrait à l’étranger de 5 $ à 10 $ par transaction sont facturés.
Des intérêts commencent à courir immédiatement sur les avances de fonds (taux annuel de 21 % à 24 %).

The KOHO Mastercard Prepaid Card is one of the only options allowing free withdrawals in over 100 countries without conversion or cash advance fees.

What are the advantages of paying in local currency rather than CAD abroad?

Always pay in local currency. The mechanism called Dynamic Currency Conversion (DCC) offered by some terminals abroad often applies an unfavorable exchange rate (3% to 8% margin), which is higher than your card’s rate.

By refusing DCC and paying in the local currency, your card applies its own exchange rate (generally the interbank rate + ~1% from Visa/Mastercard), which is always cheaper — even with your card’s 2.5% conversion fee.

Which card should I choose for recurring USD purchases (Netflix, AWS, subscriptions)?

For USD subscriptions, two options stand out:

Carte Visa Infinite +* Passeport^MD Banque Scotia — aucuns frais de conversion + 2 points Scène+ par dollar sur les services en streaming et factures récurrentes.
Carte Mastercard Rouge de Rogers — sans frais annuels, 2 % de remise sur les achats USD (réduisant le coût net de conversion).

On subscriptions totaling US$100/month (~US$1,200/year), a no-foreign-transaction-fee card saves ~C$30/year compared to a standard card.