The most effective no international transaction cost credit cards in Canada for 2024

The most effective no international transaction cost credit cards in Canada for 2024

MoneySense is an award-profitable journal, supporting Canadians navigate revenue issues given that 1999. Our editorial team of qualified journalists will work closely with main personal finance experts in Canada. To assist you obtain the ideal financial items, we compare the offerings from more than 12 key institutions, which includes financial institutions, credit rating unions and card issuers. Learn additional about our advertising and marketing and reliable companions.

By Keph Senett and Winston Sih on February 1, 2024
Believed looking through time: 15 minutes

Canadians appreciate travel and buying, but when making use of their credit score cards exterior of Canada, a lot of pay out overseas transaction fees—as substantially as 2.five%—on every buy. The superior information is there’s a very good range of credit rating cards for Canadians that possibly give no overseas transaction fees or reward with extra than enough income back again to go over the fees.

Credit score card Information
Home Rely on Preferred Visa* • No annual rate
• 1% dollars back again on all Canadian buys
Scotiabank Passport Visa Infinite* • $one hundred fifty (waived the 1st calendar year)
• two Scotia Rewards details for every $1 on vacation, groceries, dining establishments and leisure
• one position for every $1 on all other qualified purchases
Scotiabank Gold American Express* • $one hundred twenty (waived the first 12 months)
• five details for every $one on dining, groceries and leisure-relevant buys
• three factors on gas, everyday transit and select streaming providers
• 1 position on every thing else (like all overseas purchases)
Meridian Visa Infinite Travel Benefits • $ninety nine once-a-year cost (waived the to start with yr)
• 3 points for every $one on foreign currency purchases
• 1.5 details on every day buys
Rogers World Elite Mastercard* • No once-a-year price
• three% hard cash back on U.S. currency buys
• 1.5% on all other buys
Brim Planet Elite Mastercard • $199 (waived in the 1st 12 months)
• two details for every $1 put in (up to $twenty five,000 annual expend)
EQ Bank Card (honourable point out)* • No annual payment
• .5% hard cash back again on all your spending
• Good different to working with a no Fx credit score card

At a look: The Household Believe in Most popular Visa is a genuine no-overseas-trade-price playing cards in Canada that also expenses no annual rate. This indicates it waives the fx on buys in all international currencies, not just U.S. dollars.


Property Belief Chosen Visa

  • Yearly fee: $
  • Earn fees: one% on all purchases in Canada and spend no Forex costs on foreign forex purchases
  • Welcome provide: You can generate 1% cashback on eligible buys in Canada, with no caps on cashback receive.

  • Yearly money prerequisite: None
  • Proposed credit score score for approval: 660 or larger
  • Curiosity premiums: 21.ninety nine% on purchases, 21.ninety nine% on funds advancements

The pros

  • Receive one% dollars back on anything you invest in in Canadian dollars with no boundaries on how significantly you can receive.
  • Like most no-price cards, it comes with primary benefits like zero legal responsibility coverage insurance policy and purchase stability insurance coverage

The cons

  • You can not receive cash back on purchases in a non-Canadian forex, but you also will not pay back foreign transaction service fees, which typically include up to two.five%.

At a look: As the to start with card from a single of Canada’s major banking institutions to waive its overseas transaction charges, the Scotiabank Passport Visa Infinite features powerful rewards, an simple-to-comprehend and versatile benefits system, and significantly amazing airport lounge added benefits.


Scotiabank Passport Visa Infinite

  • Once-a-year payment: $a hundred and fifty (waived for the initial yr)
  • Receive charge: 3 Scene+ points per $1 expended at Sobeys merchants 2 factors for each $one on groceries, dining, amusement and transit 1 level for each $one on every little thing else. Moreover, pay back no Fx service fees
  • Welcome offer you: generate up to $1,three hundred in value in the initially 12 months, including up to forty,000 bonus Scene+ points and first 12 months once-a-year cost waived. Present ends July one, 2024.
  • Once-a-year earnings prerequisite: Own cash flow of $sixty,000 or domestic money of $one hundred,000

  • Stage price: one Scene+ stage=$.01 when redeemed for journey, retailer purchases and food and consume at Cineplex and Scene associates
  • Advisable credit score score for acceptance: seven-hundred or increased
  • Curiosity prices: twenty.99% on buys, 22.99% on funds advances, 22.ninety nine% on stability transfers

The professionals

  • The Scotiabank Passport Visa Infinite is the only no-currency trading-charge card in Canada to also give airport lounge obtain. With this card, you are going to get a complimentary Precedence Go membership with 6 totally free airport lounge visits for every yr that is the most lounge passes out there on a card with an annual rate below $200.
  • Scotia’s Scene+ factors are exceptionally flexible. You can redeem factors utilizing Scotia’s vacation company or utilize factors on any travel invest in from almost any airline or lodge company up to 12 months afterwards.
  • Redemptions for vacation purchases are intuitive and as easy as dollars back again in your wallet. There are no challenging vacation charts or maps, and you will get the identical worth anywhere you fly. But, you will require to redeem a least of 5,000 points (equal to $fifty in personal savings) at a time.
  • Scotia’s journey redemptions are very broad. Details can be redeemed for a broad wide range of merchandise and products and services, even in opposition to purchases with Uber, UberEats and Airbnb.
  • The Scotiabank Passport Visa Infinite rewards high-volume spenders. Every single year that you cost $40,000 or extra, you are going to receive an further 10,000 reward details ($one hundred worth towards vacation).
  • This card gives a whole vary of travel insurance coverage gains which include journey crisis professional medical insurance plan, journey cancellation/excursion interruption insurance coverage and extra.

The downsides

  • On October one, 2022, the Scotiabank Passport Visa Infinite’s yearly cost amplified from $139 to $150.
  • You’ll want to receive an earnings of at minimum $sixty,000 (or $a hundred,000 as a household) to qualify, which means the card may be out of get to for some Canadians.

At a look: The Scotiabank Gold American Convey has an outstanding day to day generate rate, particularly on foods and transit. Merged with its absence of overseas transaction expenses, this card is not just just one of the best no-currency trading-price playing cards but one of the best general benefits playing cards in Canada.


Scotiabank Gold American Categorical

  • Yearly fee: $one hundred twenty (waived for the initially calendar year)
  • Gain fees: six points per $one put in on groceries at Sobeys-affiliated outlets 5 factors per $1 on dining, enjoyment and groceries at other qualified grocery merchants three details for each $1 on gasoline, each day transit and select streaming providers 1 stage per $one on everything else
  • Welcome offer you: You can get paid up to $650 in worth in the 1st 12 months, which include up to 40,000 reward Scene+ details. Ought to use by July one, 2024.
  • Annual profits need: $12,000

  • Point price: one Scene+ point=$.01 when redeemed for journey, keep buys and foods and consume at Cineplex and Scene associates
  • Suggested credit history rating for approval: seven hundred or higher
  • Desire charges: 20.ninety nine% on buys, 22.ninety nine% on income innovations, 22.99% on stability transfers

The execs

  • This credit score card’s get paid rate is significantly remarkable, with an excellent five-periods the factors on groceries and dining.
  • Scene+ details are versatile, quick to use and excellent for up to twelve months immediately after you make a travel invest in, which suggests you can ebook when you want and experience the benefits afterwards.
  • Redeem for vacation in uncomplicated increments of 1,000 factors (valued at $ten). There are no intricate regulations or exceptions to manage, and you will get the exact benefit no issue the place you go.
  • Scotia’s definition of travel is very wide so you can redeem for buys even at Uber, UberEats and Airbnb.
  • The Scotiabank Gold American Express offers a complete range of travel insurance policy rewards including travel emergency health-related coverage, trip cancellation/excursion interruption insurance and additional.
  • This card will come with Amex Working experience benefits. Amex grants early entry to presale tickets to a large array of situations (including live shows and sporting activities activities), while Amex Presents get you extra special discounts and cost savings on a rotating roster of retailers.
  • The card’s least earnings prerequisite is $12,000, making it available to most Canadians.

The negatives

  • Even though American Express is accepted at hundreds of locations throughout Canada, there are some notable exceptions. For illustration, Loblaws doesn’t settle for Amex and you may not be capable to use this card at some smaller sized independent stores, groceries, convenience retailers and places to eat. Dependent on wherever you are travelling, Amex acceptance could be even more confined.
  • When you get in a foreign forex, you only generate details at the base rate. This implies, for case in point, that if you purchase groceries in a overseas currency, the overseas-exchange cost will be waived but you will only gain 1 issue for each $one invested somewhat than the 5 factors generally made available in the grocery category for buys in a Canadian forex.

At a look: This is a aggressive mid-tier credit card with a below-typical annual rate, featuring impressive travel insurance policy and bonus details on non-Canadian purchases which will assist you save on foreign transaction fees.

Meridian Visa Infinite Journey Rewards

Meridian Visa Infinite Vacation Rewards

Stop by for more particulars

  • Annual charge: $ninety nine (waived for the initially calendar year)
  • Get paid fee: one.five details per dollar 3 points for every greenback on buys manufactured in international currencies
  • Welcome offer you: Generate six factors for every $two spent on buys manufactured outside the house Canada in foreign currencies, and three details for each $two on all other purchases.
  • Yearly revenue prerequisite: Private revenue of $60,000 or family revenue of $100,000

Meridian Visa Infinite Travel Rewards

Pay a visit to for additional information

  • Points price: one position=$.01 when redeemed for journey
  • Suggested credit history rating for approval: 725 or greater
  • Curiosity fees: 19.fifty% on purchases, 21.99% on dollars improvements

The pros

  • The 3 points per $one get paid rate for international purchases indicates you are going to net roughly .five% back on anything at all in a non-Canadian forex (after offsetting foreign transaction charges).
  • The solid base fee of one.5% on Canadian purchases implies you’ll receive an higher than-common return on all purchases, irrespective of the group.
  • The annual payment for the Meridian Visa Infinite Journey Benefits card is only $99, which is considerably less than many comparable to other playing cards on this listing with no foreign trade expenses.
  • The travel coverage on the Meridian Visa Infinite Journey Benefits card is outstanding and contains up to $five,000,000 in emergency journey coverage for up to forty eight days, which manages to conquer out vacation coverage made available by even the ideal journey credit rating cards.
  • Though several credit score card travel insurance policies advantages only use to people sixty five and more mature, the unexpected emergency journey insurance policy protection on the Meridian Visa Infinite Travel Benefits credit card applies to those people up to 75 several years outdated.

The cons

  • This card features no bonus categories, so it may possibly not be the very best benefits composition for those people who shell out big in common categories like groceries, fuel or recurring payments.
  • Rewards details just can’t be utilized to offset the cost of airline taxes or surcharges.
  • The cash flow necessity makes it out of attain for some Canadians.

At a glance: With substantially higher get paid costs than most no-price cards, the Rogers Earth Elite Mastercard essentially nets you funds again on purchases in U.S. pounds. Nonetheless, demanding personal earnings amounts and expending specifications make this card inaccessible to some.


Rogers World Elite Mastercard

  • Annual payment: $
  • Earn charge: one.5% funds back on all purchases three% cash back on all U.S.-dollar buys
  • Welcome bonus: You can make $25 welcome reward in funds again rewards on to start with card order in 3 months of obtaining your card.
  • Yearly cash flow prerequisite: Personal money of $eighty,000 or house cash flow of $150,000

  • Advisable credit score for approval: 725 or bigger
  • Desire fees: 19.ninety nine% on buys, 22.99% on dollars innovations, 22.99% on stability transfers

The execs

  • The card earns an extraordinary one.five% money again on every little thing you acquire, a level a lot more generally seen in playing cards with an once-a-year price.
  • As a Mastercard, it is arguably the best card to use at Costco due to the fact it has a flat one.five% generate price.
  • The Rogers Environment Elite Mastercard earns an accelerated three% cash back again on buys manufactured in U.S. dollars which offsets the roughly 2.5% overseas transaction payment, generating this an great card for snowbirds or any individual who frequently travels to the United States.
  • You can redeem your cash again benefits whenever, in increments of $ten, utilizing the Rogers application.
  • Despite currently being a no-fee card, the Rogers Environment Elite Mastercard presents you rewards like rental motor vehicle collision destruction coverage and journey insurance policies.

The disadvantages

  • Not like “true” no-overseas-transaction-payment credit rating cards which help you conserve on all non-Canadian forex buys, the Roger Planet Elite Mastercard will only enable you avoid international transaction expenses on purchases built in U.S. bucks.
  • A evident downside of this card is that you need to cost at least $fifteen,000 in purchases on the card each and every 12 months or you are mechanically downgraded to the entry-stage Rogers Platinum Card that earns a less impressive one% money back on almost everything.
  • You will want an cash flow of at the very least $eighty,000 per yr (or $one hundred fifty,000 per residence) to qualify for the card—the optimum income need on our rating of ideal no foreign transaction cost credit score cards.

At a glance: Fantastic benefits with no restrict to what you can receive, comprehensive insurance protection, strong benefits, and no foreign trade fees make this a card to consider.

Brim Environment Elite Mastercard

Brim Environment Elite

Stop by for aspects

  • Annual payment: $199 (waived in the first calendar year)
  • Generate charge: two points per $1 expended (up to $twenty five,000 once-a-year commit one level per $one invested later on)
  • Welcome offer you: This card does not now have a welcome provide.
  • Once-a-year revenue necessity: Own earnings of $eighty,000 private or household income of $one hundred fifty,000

Brim Earth Elite

Go to for details

  • Place value: one level=$.01 redeemed for statement credits
  • Encouraged credit score score for approval: 725 or higher
  • Desire prices: 19.99% on purchases, 21.5% on cash improvements, 19.ninety nine% on harmony transfers

The professionals

  • You can earn up to thirty situations the bonus points on buys when you store online with Brim partners.
  • Redemptions are versatile. You can redeem on any buy or as funds back on your card.
  • Features thirteen distinctive insurance policy coverages, including journey and mobile device protection, plus some precious benefits like free Boingo Wi-Fi and DragonPass membership.

The negatives

  • The $199 once-a-year price is greater than normal, although it is waived for the initially 12 months.
  • Candidates will have to have a higher annual income to qualify.
  • Your earn fee drops to one level for each $1 invested soon after you spend your to start with $twenty five,000 each year.

At a glance: Ok, Okay, this isn’t a credit rating card, but a prepaid debit card. However, the EQ Financial institution Card can enable you prevent high priced service fees when you’re withdrawing or spending revenue in a foreign currency by waiving all international exchange fees billed by EQ (transactions are nevertheless issue to Mastercard’s currency conversion fee). This is a great again-up card for these purchases where credit cards aren’t approved.


EQ Bank Pay as you go Card

  • Yearly rate: None
  • Receive level: .five% funds again on all your paying out
  • Welcome supply: This card does not presently have a welcome give.
  • Annual revenue necessity: None

This is a pay as you go Mastercard, not a credit history card. You will be working with your have money.

  • Suggested credit history score for approval: No credit history check out required
  • Fascination rates: None

The professionals

  • Preload this card with money so you normally have obtain to money.
  • Get paid .five% dollars back on buys furthermore fascination on your deposits.
  • Spend no fees, which includes foreign trade.

The negatives

  • EQ Bank is an online lender, which indicates you just cannot pay a visit to brick and mortar branches for in-particular person assistance, although assist is obtainable on line.
  • To accessibility your dollars, you have to preload the card by transferring funds from your discounts account. You’ll be high-quality as long as you plan in advance and try to remember to do this.

Our methodology: How we ascertain the best playing cards

The MoneySense editorial workforce selects the very best credit history cards by examining the worth they supply to Canadians throughout a variety of types. Our best no international transaction charge credit cards ranking is centered on an extensive record of card facts and features—with a focus on these that make a difference to international travellers and shoppers—including foreign transaction charges, yearly fees, desire prices, welcome offers, rewards make costs and redemption possibilities, yearly earnings necessities, and perks such as insurance plan protection and purchase protection. We have also viewed as the execs and disadvantages of every single card to support you figure out which ones finest go well with your financial requires. Our rankings are an impartial source of data for Canadians. The addition of backlinks from affiliate companions has no bearing on the final results. Browse much more about how MoneySense would make money.

What is the conversion price on my credit history card?

A credit score card conversion fee is a surcharge you fork out for buys in a international forex. These costs are established by your credit card network this kind of as American Specific, Visa and Mastercard. These fees are usually really shut to current market premiums, but they are frequently superior than what you’d get at a currency trade. You can discover the conversion rate for your card in your credit rating card settlement.

Must you fork out making use of neighborhood forex or transformed forex?

From time to time, you’ll be presented the choice to fork out in a area forex or have the price tag transformed to your home forex. In standard, it is in your money curiosity to purchase in the regional forex, due to the fact converting to one more currency can incur charges that are tacked on to the acquire value. This is real regardless of whether or not you are using a card that prices transaction fees, so in either scenario, you’ll be preserving income by maintaining the currency neighborhood.

What if employing my no foreign transaction rate credit score card is not an choice whilst I’m abroad?

Making use of a no overseas transaction price credit history card is great–until you want to make a order from a small business that doesn’t accept credit rating cards. It’s normally sensible to carry some income on you just for these instances, but withdrawing revenue from an ATM can also appear with high priced costs. Just one fantastic remedy is to use a debit card that doesn’t charge international transaction service fees, like the EQ Bank Card. Take note that even though your card could possibly waive the charges, the ATM probably will not. Also be knowledgeable that employing a credit card to withdraw cash from an ATM incurs the highest expenses of all and must be avoided apart from for emergencies.

Regularly requested thoughts

The payment (ordinarily two.five%) charged by lots of credit score playing cards for purchases you make in a foreign currency may well not appear like substantially, but it can add up quickly. To be obvious: The cost is used to each invest in built in a forex which is not Canadian dollars—even when you shop on line. For context, that is $25 in transaction fees for just about every $1,000 you shell out on your card, and you have to spend the trade fee as properly.

The foreign transaction cost is an added charge added on top rated of the existing trade rate. Trade fees are established by the credit card providers, making use of the up-to-day benefit of the Canadian dollar and the worth of whichever currency you are converting to.

Your international transaction fee will differ in accordance to which credit history business you pick out, so it’s worthy of it to seem into the numerous selections if you are a repeated traveller or you frequently uncover oneself searching in another currency. Eventually, selecting a credit card with no overseas transaction fee—or just one which features a rebate on overseas transaction fees—is just one of the most effective means to preserve money when purchasing in a foreign currency.

As extended as credit history cards are broadly approved at your location, you can stay clear of having out huge amounts of dollars at forex trade kiosks, airports or ATMs. Moreover, paying for with your card assists you get paid rewards on every single greenback invested, you get order protection and PIN defense, and you can simply terminate your card if it is stolen even though you are abroad.

Additional of Canada’s greatest credit rating cards:

  • Finest journey credit history playing cards in Canada
  • Ideal money back credit cards in Canada
  • Best minimal-interest credit history cards in Canada
  • Total finest credit rating cards in Canada
  • Best vacation insurance credit history playing cards in Canada
  • Best hard cash back credit history playing cards in Canada
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