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The 4 Best No Foreign Transaction Fee Credit Cards

To the point Are you looking for a credit card with no foreign transaction fee? Here are the 4 best credit cards in Canada!

Most Canadian credit cards charge a conversion fee for foreign currency transactions. This conversion fee is generally 2.5%.

If you use your card to make purchases abroad or online in non-Canadian currency, getting a credit card with no foreign transaction fees may be worthwhile!

Here are the 4 Best No Foreign Transaction Fee Credit Cards in Canada:

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 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

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).

Conclusion

These 4 No Foreign Transaction Fee Credit Cards are all excellent choices for travellers: they offer travel points as well as many benefits and insurance.

It’s up to you to choose among these four No Foreign Transaction Fee Credit Cards!

Come to discuss that topic in our Facebook Group!

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