Canadians, Travel, and Shopping – The Perfect Trio
Love to travel and shop? Avoid foreign transaction fees with the best credit cards for Canadians that either offer no foreign transaction fees or great cash back rewards to cover them.
| Best cards by category | Why we love it |
|---|---|
| Home Trust Preferred Visa* Annual fee: $0 |
1% cash back on all Canadian purchases, and no forex fees on all foreign-currency purchases (not just U.S.) |
| Rogers Red World Elite Mastercard* Annual fee: $0 |
3% cash back on U.S. currency purchases—enough to cover forex fees, and then some |
| Scotiabank Passport Visa Infinite* Annual fee: $150 (waived first year) |
The only no-forex-fee card in Canada offering airport lounge access + a $25 gift card upon approval |
| Scotiabank Gold American Express* Annual fee: $120 (waived first year) |
Up to 6 Scene+ points per $1 spent, travel insurance benefits, and an $80 gift card upon approval |
| Meridian Visa Infinite Travel Rewards Annual fee: $99 (waived first year) |
Get roughly 0.5% back on all non-Canadian currency purchases (post-forex fees) and excellent travel coverage |
| Amazon Rewards Mastercard Annual fee: $0 (Prime membership required) |
Prime members earn 2.5% in Amazon points on all foreign currency purchases, usable on gift cards |
| EQ Bank Pre-Paid Card* Annual fee: $0 |
0.5% cash back on purchases, plus savings account interest |
Best no forex cards with no annual fee
Shop smart with the Home Trust Preferred Visa – a no-forex-fee card with no annual fee, waiving foreign transaction fees on purchases in all currencies, not just U.S. dollars.
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Home Trust Preferred Visa
- Annual fee: $0
- Earn rates: 1% on all purchases in Canada and no FX fees on foreign currency purchases
- Welcome offer: Earn 1% cashback on eligible purchases in Canada with no caps
The pros
- No foreign transaction fees and no annual fee – a rare combo in Canada
- Earn 1% cash back on all Canadian purchases with no earning limits
- Basic perks like zero liability and purchase security insurance included
The cons
- No cash back on purchases made in non-Canadian currency
- Cash back only redeemable once annually in January
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