Snowbirds and cross-border shoppers can skip the foreign currency exchange with these credit cards. All of our picks offer no foreign transaction fees on purchases, sparing cardholders the extra 1.5% to 3% typical providers charge. That means making a quick trip into the States or journeying overseas won’t require the usual planning, and you won’t get stuck with foreign coins and bills. As a snowbird, you may make multiple travel plans every year, so why not get a card that not only helps you pay for those trips but also makes them more comfortable.
These credit cards also feature a variety of rewards options and travel insurance. Spend your points on flights, rental cars, hotel stays, or merchandise and get the most out of your next adventure.
We compared credit cards with top features for frequent visits to the U.S. or abroad using our Best of Finance methodology and ranked the cards that provided the highest first-year value.
These are the best credit cards for snowbirds and cross-border shoppers for 2020.
Apply for the Scotiabank Gold American Express® Card and earn 25,000 bonus Scotia Rewards points when you make at least $1,000 in purchases in the first three months. Snowbirds and cross-border shoppers will love that this card features no foreign transaction fees, typically around 1.5% to 3%, on purchases made abroad and at foreign merchants online. Plus, the Scotiabank Gold American Express® Card features a full line of travel insurance.
According to our Best of Finance methodology, the average Canadian will see $874 in Scotia Rewards points within the first year.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for at least six years. You’ve had good credit for the last seven years (no bankruptcies or defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments on any existing credit cards for the past three months.
Annual fee:
$120
Limited time offer/bonus:
Offer expiry date: February 28, 2021
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 99,400 Scotia Rewards points
Monetary value= $994
Annual fee = $120
Total earned over the first year (rewards minus annual fee) = $874
You can redeem your points for:
Insurance:
Other perks:
For a limited time, the Scotiabank PassportTM Visa Infinite* Card is offering new cardholders up to 30,000 bonus Scotia Rewards points. Get 20,000 bonus Scotia Rewards points when you spend at least $1,000 in everyday purchase in the first three months. Earn an additional 10,000 points when you spend at least $40,000 in purchases annually.
Cardholders can enjoy six free lounge visits per year with a complimentary Priority Pass Membership. Enjoy no foreign transaction fees and a full suite of travel insurance. Plus, get the Best Price Guarantee on airfare when you book through the Scotia Rewards Travel Service.
According to our Best of Finance methodology, the average Canadian will see $415 in Scotia Rewards points within the first year.
Credit score requirement for approval:
Excellent: You’ve had a credit card or loan for at least 10 years. You’ve had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments on your existing credit cards for the past six months.
Annual fee:
$139
Limited time offer/bonus:
Offer expiry date: February 28, 2021
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 55,400 Scotia Rewards points
Monetary value= $554
Annual fee = $139
Total earned over the first year (rewards minus annual fee) = $415
You can redeem your points for:
Insurance:
Other perks:
New cardmembers of the HSBC World Elite® Mastercard® can earn up to 100,000 bonus HSBC Rewards points. Get 20,000 points when your application is approved. Earn another 80,000 points when you spend at least $5,000 in the first 180 days. When combined, these offers equal a $500 travel value. Plus, HSBC will rebate the $149 annual fee for the primary cardholder for the first year.
This card offers no foreign transaction fees on purchases, a $100 travel enhancement credit, and 31-day insurance coverage. Not only that, but it also provides additional savings through Expedia and Agoda, as well as unlimited Wi-Fi through Boingo at over a million hotspots worldwide.
According to our Best of Finance methodology, the average Canadian will see $896 in HSBC Rewards points within the first year.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for at least six years. You’ve had good credit for the last seven years (no bankruptcies or defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments on any existing credit cards for the past three months.
Annual fee:
$149
Limited time offer/bonus:
*This offer is not available to residents of Quebec; however, a different offer does apply.
Offer expiry date: December 28, 2020
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 179,200 HSBC Rewards points
Monetary value= $896
Annual fee = $0
Total earned over the first year (rewards minus annual fee) = $896
*HSBC will rebate the $149 annual fee for the primary cardholder for the first year.
You can redeem your points for:
Insurance:
Other perks:
Rates, product information, and rewards estimates are subject to change at any time and do not constitute financial advice. Information in this article is accurate as of the date of this posting, November 5, 2020. This article was first published on August 19, 2020.
This post has been updated.
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