I. Introduction

A. When traveling abroad, using a credit card with no foreign transaction fees can save you a significant amount of money. These fees, which are typically around 2-3% of the purchase amount, can add up quickly, especially on larger purchases. Having a credit card with no foreign transaction fees means you’ll pay the same price for goods and services as locals do, without any additional fees.

B. In this article, we will be discussing the best Canadian credit cards with no foreign transaction fees. We will break down the top options in different categories such as travel, cash back, business and more. We will also provide a guide on what to look for when choosing a credit card with no foreign transaction fees, frequently asked questions, and additional resources for readers who want to learn more. Whether you’re a frequent traveler or just planning a one-time trip, this article will help you find the best credit card for your needs.

II. Best Travel Credit Card with No Foreign Transactions Fees

A. When it comes to traveling abroad, having a credit card with no foreign transaction fees is a must. Here are some of the top travel credit cards with no foreign transaction fees available in Canada:

1. Scotiabank Passport Visa Infinite Card: This card offers no foreign transaction fees, as well as a wide range of travel benefits such as lounge access and travel insurance.

2. BMO World Elite Mastercard: This card also offers no foreign transaction fees and comes with a host of travel benefits such as comprehensive travel insurance, concierge service, and exclusive access to events and experiences.

3. TD First Class Travel Visa Infinite Card: This card offers no foreign transaction fees, as well as a sign-up bonus of up to 40,000 points and a range of travel benefits such as travel insurance, priority check-in, and more.

B. To help you compare and choose the best option for you, here is a comparison of the key features, rewards, and fees of the top travel credit cards with no foreign transaction fees:

C. Based on the comparison above, it’s clear that all three cards offer no foreign transaction fees and a range of travel benefits, so the best option for you will depend on your individual needs and preferences. For example, if you’re looking for a card with a high sign-up bonus, the TD First Class Travel Visa Infinite Card may be the best choice. If you’re looking for a card with comprehensive travel insurance, the BMO World Elite Mastercard may be the best choice. Ultimately, it’s important to read the terms and conditions of each card and consider your own spending habits and travel plans before making a decision.

III. Best Visa Card with No Foreign Transactions Fees

A. If you prefer to use a Visa card while traveling abroad, here are some of the top Visa credit cards with no foreign transaction fees available in Canada:

1. CIBC Aventura Visa Infinite Card: This card offers no foreign transaction fees, as well as a sign-up bonus of up to 20,000 Aventura points and a range of travel benefits such as travel insurance and a companion flight benefit.

2. RBC Avion Visa Infinite Card: This card also offers no foreign transaction fees and comes with a sign-up bonus of up to 15,000 Avion points, as well as a range of travel benefits such as concierge service and exclusive access to events and experiences.

3. TD Aeroplan Visa Infinite Card: This card offers no foreign transaction fees and comes with a sign-up bonus of up to 20,000 Aeroplan miles, as well as a range of travel benefits such as travel insurance, priority check-in, and more.

B. To help you compare and choose the best option for you, here is a comparison of the key features, rewards, and fees of the top Visa credit cards with no foreign transaction fees:

C. Like in the case of travel card, all three cards offer no foreign transaction fees and a range of travel benefits, so the best option for you will depend on your individual needs and preferences. For example, if you’re looking for a card with a high sign-up bonus, the TD Aeroplan Visa Infinite Card may be the best choice. If you’re looking for a card with a good rewards program, the CIBC Aventura Visa Infinite Card may be the best choice. Ultimately, it’s important to read the terms and conditions of each card and consider your own spending habits and travel plans before making a decision.

IV. Best American Express Card with No Foreign Transactions Fees

A. American Express is a popular choice for many travelers and here are some of the top American Express credit cards with no foreign transaction fees available in Canada:

1. American Express Cobalt Card: This card offers no foreign transaction fees, as well as a sign-up bonus of up to 30,000 Membership Rewards points and a rewards program that lets you earn 5 points for every $1 spent on eligible dining and food delivery, as well as 2 points for every $1 spent on eligible travel and transit.

2. American Express Platinum Card: This card also offers no foreign transaction fees, as well as a range of travel benefits such as access to over 1,200 airport lounges worldwide, a $200 annual travel credit, and more.

3. American Express Gold Rewards Card: This card offers no foreign transaction fees and comes with a sign-up bonus of up to 25,000 Membership Rewards points, as well as a rewards program that lets you earn 2 points for every $1 spent on eligible travel and 1 point for every $1 spent on everything else.

B. To help you compare and choose the best option for you, here is a comparison of the key features, rewards, and fees of the top American Express credit cards with no foreign transaction fees:

| American Express Cobalt Card | None | Up to 30,000 Membership Rewards points | 5 points/$1 on eligible dining and food delivery, 2 points/$1 on eligible travel and transit | $120 |

| American Express Platinum Card | None | None | Access to over 1,200 airport lounges worldwide, $200 annual travel credit and more | $699 |

| American Express Gold Rewards Card | None | Up to 25,000 Membership Rewards points | 2 points/$1 on eligible travel and 1 point/$1 on everything else | $150 |

C. All three cards offer no foreign transaction fees, however, they have different rewards structure and travel benefits, so it’s important to read the terms and conditions of each card and consider your own spending habits and travel plans before making a decision. For example, if you’re looking for a card with a high sign-up bonus, the American Express Cobalt Card may be the best choice. If you’re looking for a card with a good rewards program and exclusive travel benefits, the American Express Platinum Card may be the best choice.

V. Best Cash Back Credit Card with No Foreign Transactions Fees

A. Cash back credit cards are a popular choice among consumers looking to earn rewards on their purchases. Among these, cash back credit cards with no foreign transaction fees are particularly useful for those who travel or make purchases in foreign currencies.

B. In this section, we will take a look at the top cash back credit cards with no foreign transaction fees available in Canada. We will compare the features, rewards, and fees of each card, to help you make an informed decision.

C. Some of the best cash back credit cards with no foreign transaction fees available in Canada include:

The Scotiabank Momentum Visa Infinite card, which offers 4% cash back on groceries and recurring bill payments, 2% cash back on gas and daily transit, and 1% cash back on all other purchases.

The BMO Cashback Mastercard, which offers 5% cash back on all purchases for the first 3 months and 1.5% cash back on all other purchases.

The TD Cash Back Visa Infinite card, which offers 6% cash back on groceries and recurring bill payments, 3% cash back on gas and daily transit, and 1% cash back on all other purchases.

All of these cards have no foreign transaction fees, making them ideal for earning cash back rewards while traveling or making purchases in foreign currencies.

It is always good to read the terms and conditions of the card before applying it.

VI. Best No Fee Credit Card with No Foreign Transactions Fees

A. Description of the top no fee credit cards with no foreign transaction fees available in Canada

There are several credit cards available in Canada that do not charge a foreign transaction fee, but also do not charge an annual fee. These cards are a great option for travelers who do not want to pay extra fees, but still want to earn rewards or cash back on their purchases.

Some examples of no fee credit cards with no foreign transaction fees include the Tangerine Money-Back Credit Card, the BMO CashBack Mastercard, and the RBC Cash Back Preferred Visa.

B. Comparison of features, rewards, and fees

The Tangerine Money-Back Credit Card offers 2% cash back on up to three categories of your choice, and 0.5% on all other purchases. It does not charge an annual fee or a foreign transaction fee.

The BMO CashBack Mastercard offers 1% cash back on all purchases and does not charge an annual fee or a foreign transaction fee.

The RBC Cash Back Preferred Visa offers 1.5% cash back on all purchases and does not charge an annual fee or a foreign transaction fee.

C. Recommendations for the best no-fee credit card with no foreign transaction fees

For those who want to earn cash back on their purchases, the Tangerine Money-Back Credit Card is a great option because of its high cash-back rate and the ability to choose categories to earn more cashback on.

For those who want a simple, easy-to-use card with no annual fee and no foreign transaction fee, the BMO CashBack Mastercard or RBC Cash Back Preferred Visa are good choices. Both offer a flat cashback rate on all purchases, making it easy to earn rewards without having to keep track of different categories.

VII. Best Business Credit Card with No Foreign Transactions Fees

A. Description of the top business credit cards with no foreign transaction fees available in Canada

The American Express Business Gold Rewards Card offers a great rewards program and no foreign transaction fees, making it a top choice for Canadian business owners.

The Scotiabank Passport Visa Infinite Business Card also has no foreign transaction fees and provides a wide range of travel benefits, including insurance coverage and lounge access.

The TD Business Travel Visa Card is another option with no foreign transaction fees and offers travel benefits such as emergency medical coverage and car rental collision and loss damage insurance.

B. Comparison of features, rewards, and fees

The American Express Business Gold Rewards Card offers a rewards program where you can earn points for every dollar spent on eligible purchases, which can be redeemed for travel, merchandise, and more.

The Scotiabank Passport Visa Infinite Business Card offers travel benefits such as priority pass membership and travel medical insurance.

The TD Business Travel Visa Card offers a variety of travel benefits such as emergency medical coverage and car rental collision and loss damage insurance.

C. Recommendations for the best business credit card with no foreign transaction fees

For business owners who frequently travel, the American Express Business Gold Rewards Card offers a great rewards program and no foreign transaction fees, making it a top choice.

For business owners who travel frequently, the Scotiabank Passport Visa Infinite Business Card offers a wide range of travel benefits, including insurance coverage and lounge access.

The TD Business Travel Visa Card is another option with no foreign transaction fees, and offers travel benefits such as emergency medical coverage and car rental collision and loss damage insurance.

VIII. What you need to know

A. Why get a credit card with no foreign transaction fees

Avoid paying extra fees when making purchases abroad

Save money on foreign transactions

B. What should you look for in a credit card with no foreign transaction fees

Check for no foreign transaction fee

Look for a card that earns rewards or offers other benefits

Consider the card’s annual fee, interest rate, and other terms and conditions

C. What’s the optimal strategy for credit cards with no foreign transaction fees

Have multiple cards to ensure you have the best option for a particular country or merchant

Use a card that offers rewards, such as cashback or points, when making foreign transactions

Be aware of any terms and conditions, such as annual fees, interest rates, and expiration of rewards

IX. Frequently Asked Questions

A. What will the foreign exchange rate be?

The foreign exchange rate is the rate at which one currency can be exchanged for another. It fluctuates constantly based on market conditions.

B. When is the foreign exchange rate determined?

The foreign exchange rate is determined by supply and demand in the foreign exchange market. It can change throughout the day based on market conditions.

C. Will I get good rates on purchases in all currencies?

Credit card companies often offer competitive foreign exchange rates, but it’s best to check with your card issuer for specific rates.

D. Can I use cards with no foreign transaction fees anywhere in the world?

Most credit cards with no foreign transaction fees can be used anywhere in the world, but it’s best to check with your card issuer for specific usage guidelines.

E. If I’m offered the choice to pay in the local currency or to pay a converted CAD/USD amount, what should I do?

It’s generally best to choose the local currency option when offered, as your card issuer’s conversion rate may not be as favorable as the merchant’s.

F. Can I use credit cards with no foreign exchange fee to buy foreign currency?

You can use credit cards with no foreign transaction fees to buy foreign currency, but it’s best to check with your card issuer for specific usage guidelines and fees.

X. Conclusion

A. In this article, we discussed the importance of having a credit card with no foreign transaction fees for international travel and shopping. We provided an overview of the top credit cards available in Canada, including travel, Visa, American Express, cash back, and no fee options. We also compared the features, rewards, and fees of each card, and made recommendations for the best credit card with no foreign transaction fees based on different needs and preferences.

B. When choosing a credit card with no foreign transaction fees, it’s important to consider the type of card that best suits your needs, whether it’s a travel card, a cash back card, or a no fee card. You should also compare the rewards and benefits of different cards, and consider any additional fees or restrictions that may apply. Ultimately, the best credit card with no foreign transaction fees for you will depend on your specific travel and shopping habits, as well as your budget and credit score. To make the most of your card, be sure to pay your balance in full and on time each month, and take advantage of any rewards or perks offered by the card issuer.