Best no foreign transaction fee credit cards in Canada

One card that offers relief from foreign transaction fees is the Home Trust Preferred Visa. Aside from waiving the 0% foreign transaction fee option, this credit card also gives Canadians 1% cash back¹ on all eligible purchases, without any limits on how much cash back you can earn. And there’s no annual fee.

Minimum credit score: N/A

Minimum income: $80,000 individual or $150,000 household

Age: Age of majority in your province or territory

Residency: Canadian

Click here to apply or learn more by reading our complete Home Trust Preferred Visa review.

¹ Cash advances, balance transfers, interest, fees and foreign transactions (including online purchases in foreign currencies) are not eligible for CashBack Rewards.

Though accompanied by an annual fee of $150, the Scotiabank Passport^® Visa Infinite* Card not only waives foreign transaction fees, but also offers great rewards rates for spending in foreign currency, as well as superior travel benefits. You’ll pay no fees for purchasing online or abroad in a foreign currency and will earn 3X Scene+™ points points on every $1 you spend at Sobeys, Safeway, IGA, Foodland and Participating Co-ops, and more eligible grocers¹; 2 points for each $1 spent on other eligible grocery stores, dining, entertainment purchases and daily transit purchases, no matter what currency the purchase was made in. One Scene+ point per $1 spent is earned on all other eligible purchases.

Additionally, travellers who frequently face layovers will appreciate the card’s 6 free airport lounge passes that renew each year. They’ll also like the travel protections that accompany the card, including travel medical, trip interruption and cancellation, and rental car insurance. Furthermore, there’s currently an offer for new cardholders. Earn up to $1,100* in value in the first 12 months, including up to 35,000 bonus Scene+ points and first year annual fee waived on your first supplementary card.¹ Earn 25,000 bonus Scene+ points by making at least $1,000 in everyday eligible purchases in your first 3 months. Plus, as a Scotiabank Passport Visa Infinite cardholder, you are eligible to earn an annual 10,000 Scene+ point bonus when you spend at least $40,000 in everyday net eligible purchases annually. Offer ends January 3, 2024.

Minimum credit score: Excellent

Minimum income: Minimum annual income of $60,000 or a minimum household income of $100,000 or a minimum assets under management of $250,000

Age: Age of majority in your province or territory

Residency: Canadian citizen or permanent resident

Other: No bankruptcies in the past seven years

Click here to apply or learn more by reading our complete Scotiabank Passport^® Visa Infinite* card review.

¹ Conditions Apply. Visit here for the Scotiabank Passport® Visa Infinite* Card to learn more.

Like the Scotiabank Passport^® Visa Infinite* Card, when you use the Scotiabank Gold American Express^® Card for any overseas purchases, you’ll only have to pay the exchange rate, with no foreign transaction fees added on top. But unlike the Scotiabank Passport^® Visa Infinite* Card, you won’t earn extra points for purchases in special categories if the purchase is made in foreign currency.

That said, the Scotiabank Gold American Express® Card still holds its own, combining a sizable first-year bonus with steady earning power after that. Earn up to $650* in value in the first 12 months, including up to 40,000 bonus Scene+ points¹. Earn 20,000 bonus Scene+ points by making at least $1,000 in everyday eligible purchases in your first three months. Plus, for a limited time, you are eligible to earn a 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year. Offer ends October 31, 2023.

Plus regular earn rates of 6X Scene+™ points on every $1 CAD you spend in Canada at Sobeys, Safeway, FreshCo, Foodland, and more eligible grocers¹; 5X Scene+™ points per $1 CAD spent on other eligible grocery, dining, and entertainment purchases; 3X Scene+™ points per $1 CAD spent on eligible gas, daily transit, and select streaming services; and a standard 1X Scene+™ point per $1 spent on all other purchases (last applicable to all currencies).

Minimum credit score: Excellent

Age: Age of majority in your province or territory

Residency: Canadian citizen or permanent resident

Other: No bankruptcies in the past seven years

Click here to apply or learn more by reading our complete Scotiabank Gold American Express^® card review.

¹ Conditions Apply. Visit here for the Scotiabank Gold American Express® Card to learn more.

Credit cards can help travellers avoid foreign transaction fees by matching any fees with an equal amount of cash back, or more. The latter is true with the impressive Rogers™ World Elite^® Mastercard^®. Applicants must meet a higher annual income and credit requirement (though the card still has no annual fee), but receive perks and superior cash back rates as a result. With the World Elite card, cardholders will receive 3% cash back for their purchases made in U.S. dollars, and 1.5% cash back for any purchases made in Canadian dollars.

The Rogers™ World Elite^® Mastercard^® can net a total cash back rate of 0.50% on purchases in U.S. dollars after factoring in the 2.5% foreign transaction fee. Cardholders will also get a comprehensive insurance package that includes collision damage coverage for rental vehicles, and trip interruption, trip cancellation, and emergency travel medical insurance. This is an excellent deal for no annual fee, but applicants need to show $80,000 in annual income or $150,000 in household income.

Minimum credit score: Good/Excellent

Minimum income: $80,000 individual or $150,000 household

Age: Age of majority in province of residence

Age: Age of majority in province of residence

Residency: Canadian

Other: No bankruptcies in the past seven years

Click here to apply or learn more by reading our complete Rogers™ World Elite® Mastercard® review.