icon

Compare the Best No Foreign Transaction Fee Credit Cards

Find the best no foreign transaction fee credit card in Canada.

Select your priority

Select your rewards preference

Select your annual fees

No foreign transaction fee credit cards

Most Canadian credit cards can charge you a foreign transaction fee of up to 2.5% on top of the exchange rate when you make a purchase in a foreign currency. This means that you end up paying more than you would if you had used a credit card with no foreign transaction fees.

If you tend to make frequent purchases in a foreign currency on your credit card, whether due to travel or online shopping, a no foreign transaction fee credit card will help you save a considerable amount of money every year. On top of that, most no foreign transaction fee credit cards come with other credit card rewards like cash back, travel rewards, and more.

Compare the best no foreign transaction fee credit cards in Canada on RATESDOTCA and never pay foreign transaction fees again.

Best no foreign transaction fee credit cards of 2021

Credit card 

Great features 

Annual fee 

Scotiabank®* Gold American Express® Card 

  • 2021 Best of Finance Winner: "Best Credit Card with No Foreign Transaction Fees for Long Stay Travellers" 

$120 (First year waived) 

HSBC World Elite® Mastercard® 

  • Earn 6 rewards points for every $1 spent on eligible travel purchases.   

$149 (First year rebated) 

Scotiabank PassportTM Visa Infinite* Card 

  • Earn 2 rewards point for every $1 spent on eligible grocery, dining, entertainment and transit purchases 

$139 (First year waived) 

Home Trust Preferred Visa Card 

  • Earn 1% cash back on all eligible purchases 

$0 

KOHO Premium Prepaid Visa Card 

  • Earn 2% cash back on groceries, dining and transit purchases 

$84 

 

Scotiabank Gold American Express® Card

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$400
+ Annual rewards
$744
- Annual fee (First Year Waived)
0
Total first year value
$1144
Scotiabank®* Gold American Express® Card

card image
Welcome bonus
$400
Scotia Scene+ Points
Annual rewards
$744
Scotia Scene+ Points
Annual fees:
$120 (First Year Waived)
Interest rates:
19.99% on purchases • 22.99% on cash advances
2021 Winner – Best Credit Card With No Foreign Transaction Fees for Long Stay Travellers, and Best Credit Card for Staying Home and Ordering In
Strong travel perks and 0% foreign transaction fees compliment great reward value
Details at a glance Collapse details
Welcome bonus
$400
Annual rewards
$744
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$400
+ Annual rewards
$744
- Annual fee (First Year Waived)
0
Total first year value
$1144
Annual fees:
$120 (First Year Waived)
Interest rates:
19.99% on purchases
22.99% on cash advances
2021 Winner – Best Credit Card With No Foreign Transaction Fees for Long Stay Travellers, and Best Credit Card for Staying Home and Ordering In
Strong travel perks and 0% foreign transaction fees compliment great reward value
Details at a glance Collapse details

Enjoy no foreign transaction fees on any purchase made in a foreign currency in store and online, when you shop with your Scotiabank Gold American Express® Card. Plus, every purchase you make through your Scotia card helps you move one step closer to a great reward.

Welcome bonus

Earn up to 50,000 bonus Scotia Rewards points in your first year (that's up to $500 towards travel). Plus, no annual fee in the first year, including on supplementary cards

Rates, fees, offers and other information are effective as of Mar 1, 2021 and are subject to change.

Rewards

Earn 5x the Scotia Rewards for the following purchases:

  • Groceries
  • Restaurants
  • Entertainment

Earn 3x the Scotia Rewards for the following purchases:

  • Gas
  • Daily transit
  • Select streaming services

Earn 1x Scotia Rewards for all other purchases.

Benefits

  • No foreign transaction fees - including online shopping
  • Amex exclusive benefits (Front of The Line)
  • 24/7 concierge service
  • Discount on the Priority Pass membership
  • Discounts through the Scotia Rewards Program
  • Insurance coverage
  • Purchase Protection - 90 days
  • Extended Warranty - 1 Year
  • Travel Accident - $500,000
  • Emergency Medical Term - 25 days
  • Trip Cancellation - $1,500
  • Trip Interruption - $1,500
  • Flight Delay - $500
  • Baggage Delay - $1,000
  • Lost or Stolen Baggage - $1,000
  • Hotel Burglary - $1,000
  • Rental Car Theft & Damage

HSBC World Elite® Mastercard®

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$350
+ Annual rewards
$446
- Annual fee
$149
Total first year value
$647
HSBC World Elite® Mastercard®

card image
Welcome bonus
$350
HSBC Travel Rewards
Annual rewards
$446
HSBC Travel Rewards
Annual fees:
$149
Interest rates:
19.9% on purchases • 22.9% on cash advances
Excellent rewards on travel with the flexibility to also redeem on financial statements
Enjoy a $100 Annual Travel Enhancement Credit
Details at a glance Collapse details
Welcome bonus
$350
Annual rewards
$446
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$350
+ Annual rewards
$446
- Annual fee
$149
Total first year value
$647
Annual fees:
$149
Interest rates:
19.9% on purchases
22.90% on cash advances
Excellent rewards on travel with the flexibility to also redeem on financial statements
Enjoy a $100 Annual Travel Enhancement Credit
Details at a glance Collapse details

With the HSBC World Elite® Mastercard, you can save money on your foreign currency purchases with no additional foreign currency conversion charges. Only the exchange rate will apply to your purchase. Check out the HSBC credit card benefits that come with the card below.

Welcome bonus

20,000 Points ($100 travel value). PLUS, apply by January 31, 2022, and get an additional 50,000 Points when you spend $6,000 within 180 days of account opening ($250 in travel value)*. And get a 1st year annual fee waiver for the Primary Cardholder* ($149 value). Earn 10,000 Points ($50 travel value) for adding your 1st Authorized User*, and receive an additional 20,000 Points as an Anniversary Bonus*

Rewards

6x points for every $1 spent on eligible Travel purchases and 3x points for every other $1 spent on other eligible purchases.

Benefits

  • Airport Experiences Provided by Lounge Key
  • $100 Annual Travel Enhancement Credit
  • 10% Discount on select hotel bookings
  • Unlimited Wi-Fi through Boingo Wireless at over 1 million hotspots worldwide

Insurance coverage

  • Purchase Protection – 90 days
  • Extended Warranty – 1 year
  • Emergency Medical Term – 31 days
  • Trip Cancellation - $2,000
  • Trip Interruption - $2,000
  • Lost/Stolen Baggage - $750
  • Baggage Delay - $200
  • Rental Car Insurance

Scotiabank PassportTM Visa Infinite* Card

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$224
+ Annual rewards
$354
- Annual fee (First Year Waived)
0
Total first year value
$578
Scotiabank PassportTM Visa Infinite* Card

card image
Welcome bonus
$224
Scotia Scene+ Points
Annual rewards
$354
Scotia Scene+ Points
Annual fees:
$139 (First Year Waived)
Interest rates:
19.99% on purchases • 22.99% on cash advances
Includes strong travel insurance, lounge access and no foreign transaction fees
Rewards points can be redeemed for travel or on statement credits
Details at a glance Collapse details
Welcome bonus
$224
Annual rewards
$354
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$224
+ Annual rewards
$354
- Annual fee (First Year Waived)
0
Total first year value
$578
Annual fees:
$139 (First Year Waived)
Interest rates:
19.99% on purchases
22.99% on cash advances
Includes strong travel insurance, lounge access and no foreign transaction fees
Rewards points can be redeemed for travel or on statement credits
Details at a glance Collapse details

The Scotiabank PassportTM Visa Infinite* Card is one of the top travel credit cards in Canada and comes with the added benefit of no foreign transaction fees. Check out all the other amazing rewards and benefits that come with it.

Welcome bonus

Earn up to 40,000 bonus Scotia Rewards points in your first year (that is up to $400 towards travel).

Plus, no annual fee in the first year, including on supplementary cards and 5X Scotia Rewards points on Travel for the first 3 months (up to $2,500 in total travel purchases)

Rewards

2x Scotia Rewards points earned for every $1 spent at on:

  • Grocery stores
  • Dining
  • Entertainment
  • Transit

Earn 1x Scotia Rewards on all other eligible purchases.

Benefits

  • No foreign transaction fees
  • Complimentary membership and 6 free visits to Priority Pass lounges
  • Free Avis Preferred Plus membership
  • 24/7 concierge service

Insurance coverage

  • Purchase Protection - 90 days
  • Extended Warranty - 1 Year
  • Price Protection
  • Travel Accident - $500,000
  • Emergency Medical Term - 25 days (Over 65 - 3 days)
  • Trip Cancellation - $1,500
  • Trip Interruption - $2,500
  • Flight Delay - $500
  • Baggage Delay - $1000
  • Lost or Stolen Baggage - $1000
  • Hotel Burglary - $1,000
  • Rental Car Theft & Damage

Home Trust Preferred Visa Card

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$0
+ Annual rewards
$240
- Annual fee
$0
Total first year value
$240
Home Trust Preferred Visa Card

card image
Welcome bonus
$0
Annual rewards
$240
Home Trust Cash Back Rewards
Annual fees:
$0
Interest rates:
19.99% on purchases • 19.99% on cash advances
Great for travellers looking to avoid Foreign Transaction Fees
Some insurance perks
Details at a glance Collapse details
Welcome bonus
$0
Annual rewards
$240
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$0
+ Annual rewards
$240
- Annual fee
$0
Total first year value
$240
Annual fees:
$0
Interest rates:
19.99% on purchases
19.99% on cash advances
Great for travellers looking to avoid Foreign Transaction Fees
Some insurance perks
Details at a glance Collapse details

The Home Trust Preferred Visa Card is a secured credit card that comes with the benefit of no foreign transaction fee. Best of all, you earn 1% cash back earn on all eligible purchases when you make purchases through your Home Trust Visa Preferred Visa Card.

Benefits

  • 0% foreign currency conversion charge on purchases abroad.

Insurance coverage

  • Purchase Protection - 90 days

KOHO Premium Prepaid Visa Card

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$44
+ Annual rewards
$309
- Annual fee
$84
Total first year value
$269
KOHO Premium Prepaid Visa Card

card image
Welcome bonus
$44
KOHO Money Back Rewards
Annual rewards
$309
KOHO Money Back Rewards
Annual fees:
$84
Interest rates:
N/A on purchases • N/A on cash advances
A rare prepaid card with low fees, perks and great cash back rewards.
Enjoy no foreign exchange fees.
Details at a glance Collapse details
Welcome bonus
$44
Annual rewards
$309
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$44
+ Annual rewards
$309
- Annual fee
$84
Total first year value
$269
Annual fees:
$84
Interest rates:
0.0% on purchases
0.00% on cash advances
A rare prepaid card with low fees, perks and great cash back rewards.
Enjoy no foreign exchange fees.
Details at a glance Collapse details

The KOHO Premium Prepaid Visa Card is a rare prepaid card with low fees and great perks such as no foreign transaction fees and cash back rewards. See all the benefits that come with the KOHO Premium Prepaid Visa Card below.

Welcome bonus

KOHO Save: Earn 1.2% interest on your entire account balance with KOHO Save. Earn cash back on what you spend and interest on what you don't. All your money in one account. It's that simple.

Get an additional 1% cash back on all purchases for 90 days when you sign up for KOHO with a referral code and when you refer a friend (Can earn up to 10% cash back for 90 days).

Rewards

Earn 2% cash back on 3 main spending categories:

  • Groceries
  • Eating & Drinking
  • Transportation

Earn 0.5% cash back on all other purchases

Benefits

  • No foreign exchange fees.
  • Earn up to 6% merchant cash back with premium retailers.
  • Access your pay cheque up to 3 days early with the Early Payroll feature.
  • One free withdrawal each month at ATMs outside Canada.
  • Priority customer support. Premium users always skip the line.
  • Personalized financial coaching on demand.

Insurance coverage

  • Price Protection

Frequently asked questions about no foreign transaction fee credit cards

Here’s everything you may be wondering about using a no foreign transaction fee credit card.

Why should I get a credit card with no foreign transaction fees?

Any credit card currency conversion fee can really affect your overall travel or shopping budget. Especially when you’re shopping abroad in non-Canadian currency. Every little purchase can quickly add up and seem bigger on your credit card statement due to the added foreign transaction fees. Something which can be easy to underestimate until you pull your credit card statement and see all the charges adding up.

For example, if you make a purchase of USD $500 which converts to approximately CAD $628, you’ll be charged a 2.5% on top of that if that’s the foreign transaction fees rate of your credit card. Which means you’ll be charged a grand total of CAD $644.32 on your credit card statement.

Using a credit card with zero foreign transaction fees is not only a way to save money, but also highly convenient as you won’t have to worry about purchasing foreign currency to make international payments while travelling. Best of all, when you use your credit card to make foreign transactions, you are also covered through your credit card provider's secure payment network.

When is the foreign exchange rate determined for credit card transactions?

When you make a credit card transaction in a foreign currency, the transaction will be converted to Canadian dollars at the time it posts to your account, not at the time it was authorized.

How do I find the best no foreign transaction fee credit card in Canada?

When it comes to finding the best no foreign transaction fee credit card, comparison shopping will help you pick the right card. On RATESDOTCA, you can instantly compare the top no foreign transaction fee credit cards in Canada and see which one matches your criteria. Once you find the card of your choice, simply apply online through RATESDOTCA.

Can I use a no foreign transaction fees credit card anywhere in the world?

Most no foreign transaction fees credit cards run on the Visa, Mastercard, or American Express payment network. If the merchant accepts cards from your credit card’s payment network, you can easily pay with it, regardless of which country or location you are in.

If I’m offered the choice to pay in the local currency or to pay a converted CAD/USD amount with my no foreign transaction fee credit card, what should I choose?

It is always recommended to pay in the local currency because it works out to be a cheaper option as the converted CAD/USD option is usually a “dynamic currency conversion,” and will have a higher exchange rate. On the other hand, the local currency exchange rate will be significantly closer to the official current market rate, making it the better option.

Latest credit card articles

3 Ways to Protect Your Wallet This Black Friday
Travelling south for the spending frenzy? Ensure you have the right auto and credit card coverage.
Learn More
3 mins read
Tangerine Mastercard Review
The Tangerine Money-Back Credit Card and the Tangerine World Mastercard offer flexible reward categories to match cardholders’ spending habits.
Learn More
6 mins read
What To Do When Your Credit Card Expires
Whether it’s travel points, cash back, or even a low interest rate, many credit cards have additional perks that can suit your lifestyle.
Learn More
3 mins read