What Are the Best Canadian Credit Cards with No Foreign Transaction Fees?

Best Canadian Credit Cards with No Foreign Transaction Fees

As more and more people travel abroad for work or leisure, having a credit card that doesn't charge foreign transaction fees has become increasingly important. In this article, we will look at some of the best Canadian credit cards that offer this benefit.

1. Scotiabank Passport Visa Infinite Card

The Scotiabank Passport Visa Infinite Card is one of the best credit cards for frequent travelers. It offers no foreign transaction fees, as well as a variety of travel perks, including airport lounge access and travel insurance. The card also earns rewards points, which can be redeemed for travel-related expenses.

2. Home Trust Preferred Visa

The Home Trust Preferred Visa is another great option for those looking for a credit card with no foreign transaction fees. It also offers cashback rewards on all purchases, making it a great choice for everyday spending. The card also comes with a low annual fee and no annual income requirement.

3. Rogers Platinum Mastercard

The Rogers Platinum Mastercard is a great choice for those who want to earn rewards on their foreign purchases. The card offers 3% cashback rewards on all purchases made in a foreign currency, as well as 1.25% cashback rewards on all other purchases. The card also comes with no annual fee and a low foreign transaction fee.

Tips for Applying for a Credit Card

When applying for a credit card, it's important to keep a few things in mind. First, make sure you have a good credit score, as this will increase your chances of being approved. It's also important to read the terms and conditions carefully, especially when it comes to fees and interest rates.

Saving Money with Credit Cards

Credit cards can be a great way to save money, as long as you use them responsibly. One way to save money is to take advantage ofrewards programs, which can earn you cashback, points, or miles that can be redeemed for travel, merchandise, or other rewards. It's also important to pay off your balance in full each month to avoid interest charges.

Annual Fees and Avoiding Risk

When choosing a credit card, it's important to consider the annual fee and any other fees that may be associated with the card. Some cards may offer great rewards, but also come with high annual fees. It's also important to be aware of the risks associated with using credit cards, such as identity theft and fraud. Be sure to monitor your accounts regularly and report any suspicious activity to your credit card company immediately.

Credit Card Recommendations

In addition to the cards mentioned above, there are many other great credit cards on the market. Some other options to consider include the American Express Gold Rewards Card, the BMO World Elite Mastercard, and the TD Aeroplan Visa Infinite Card. When choosing a credit card, it's important to consider your personal needs and spending habits to find the card that works best for you.