Best No Foreign Transaction Fee Credit Cards in Canada for 2024

Not only does the Scotiabank Gold American Express card reward you with impressive rates in six popular spending categories, but it also comes with no foreign exchange fees.

Pros

• No foreign exchange fee on any foreign currency purchases while travelling abroad or shopping online — you just have to pay the exchange rate.

Cons

• The bonus rewards rates drop down to the 1x flat rate after a $50,000 annual spend. This sounds like a lot, but much of your daily spending is probably included in the six bonus categories, so you might hit the limit faster than you’d think.

• Earn up to $650* in value in the first 12 months, including up to 40,000 bonus Scene+ points. Offer ends July 1, 2024.
• You will not pay 2.5% foreign transaction fees on any foreign currency purchases, including online shopping and when travelling abroad. Only the exchange rate applies.
• Earn 5X Scene+ points for every $1 CAD spent on eligible grocery stores, restaurants, fast food, and drinking establishments. Includes popular food delivery and food subscriptions.
• Earn 5X Scene+ points for every $1 CAD spent on eligible entertainment purchases. Includes movies, theatre, and ticket agencies.
• Earn 3X Scene+ points for every $1 CAD spent on eligible gas and daily transit. Includes rideshare, buses, taxis, subway, and more.
• Earn 1X Scene+ point for every $1 spent on every other purchase.
• You’ll earn 6X Scene+ points for each $1 CAD charged to your account on all eligible purchases¹ at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés Tradition, Rachelle Béry and Co-Op.
• Discounted Priority Pass™ membership, which grants you access to over 1200 VIP lounges around the world.
• Score deals on shopping, dining, travel and more with Amex Offers®, and experience special events and discounts with American Express Invites®.
• Access to Amex Front Of The Line® presale and reserved tickets.
• To be eligible, $12,000 (individual) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
• Terms and Conditions Apply. Click ‘Apply Now’ for complete details.

With low rates and a generous rewards program, the Scotiabank Platinum American Express card is a unicorn for frequent travellers seeking luxury perks, premier travel benefits and exceptional interest rates on purchases and cash advances.

Pros

• Low interest rates, no foreign transaction fees, and an impressive insurance package that includes comprehensive travel insurance coverage and newly-added mobile device insurance.
• Luxury travel privileges include 10 free VIP airport lounge visits per year with a complimentary Priority Pass membership.

Cons

• The $399 annual fee is quite a bit higher than other rewards cards, but frequent travellers seeking a low rate on purchases and cash advances can easily make the yearly cost worthwhile.

• Earn up to $2,100* in value in your first 14 months, including up to 60,000* bonus Scene+ points. Offer ends October 31, 2024.
• You will not pay 2.5% foreign transaction fees on any foreign currency purchases, including online shopping and when travelling abroad. Only the exchange rate applies.
• Earn 2X Scene+™ points for every $1 CAD you spend on all your eligible purchases.
• Scene+ points can be redeemed for travel purchase, merchandise and other non-travel rewards such as gift cards and prepaid cards.
• You must redeem a minimum of 5,000 points per travel-related rewards redemption, equivalent to $50 in travel savings. Points must be redeemed within 12 months of the purchase date.
• $399 annual fee.
• Redeem points for any flight, any time through Scene+ Travel, a full-service travel agency. Plus, take advantage of a best price guarantee on airfare.
• Get a Hertz #1 Club Gold membership for special privileges and rental car benefits at over 8,500 locations in 147 countries.
• Enjoy culinary events and experiences, entertainment, luxury fashion, tours, and more through American Express benefits, including American Express Invites, Platinum VIP offers and access to 24/7 premium concierge services for restaurant reservations, show tickets, and gift purchases.
• Lounge access at over 600 VIP airport lounges around the world with a complimentary Priority Pass membership, which includes 10 free visits per year.
• 12 types of insurance provided, including 31-day travel medical benefits — up to $2 million in coverage — for you, your spouse and any dependent children under the age of 65. 10-day coverage available for those over the age of 65.
• Preferred rates: 9.99% for purchases, 9.99% for cash advances.
• To be eligible, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
• Terms and Conditions Apply. Click ‘Apply Now’ for complete details.

Enjoy complimentary access to airport lounges, pay no foreign transaction fees, and earn Scene+ points on every business purchases with the Scotiabank Passport™ Visa Infinite Business* Card.

Pros

• Pay no foreign transaction fees when shopping online or outside of Canada.
• Complimentary Visa Airport Companion Program membership with six airport lounge visits per year.
• Plenty of travel perks and insurance coverage.

Cons

• No accelerated earn rates in specific spending categories.

• $199 annual fee.
• Earn 1.5X the Scene+™* points for every $1 spent on purchases for your business.
• Enjoy no Foreign Transaction Fees whether you make purchases online or outside of Canada.
• Get access to airport lounges with your complimentary Visa Airport Companion Program membership when you fly for your business.
• Use your points for travel, merchandise, gift cards for your business and more.
• $10,000 credit limit minimum, up to $150,000 unsecured.
• Most items purchased with your Card are insured against theft, loss or damage for 90 days from the purchase date and the manufacturer’s warranty is doubled for up to one year.
• Turn business purchases into business savings with Visa SavingsEdge.
• Visa Infinite Benefits with your Card which include Visa Infinite Concierge and the Luxury Hotel Collection.
• Travel Emergency Medical Insurance – Breathe easy with comprehensive coverage Coverage is provided for eligible persons under age 65 for up to 25 consecutive days and for eligible persons age 65 and older for up to 10 consecutive days.

The Scotiabank Passport Visa Infinite Card offers competitive earn rates and easy-to-understand redemption on travel — 1 point equals 1 cent in travel savings.

Pros

• Complimentary Visa Airport Companion Program membership, with six free airport lounge visits included every year, which is more than typically included with a credit card.
• No foreign transaction fees.

Cons

• The accelerated rate on travel purchases only lasts three months — but you can earn up to 42,500 points, worth $425 in travel savings.
• The annual $1,000 bonus requires you to spend $40,000 per year on everyday spending on the card.

• 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. Offer Ends January 3, 2024.
• The only major bank credit card offering you no foreign transaction fees, including for shopping online or abroad.
• Your Award Winning Card For Travel.
• Earn 2 Scene+ points on every $1 you spend on eligible grocery stores, dining, entertainment purchases, and daily transit purchases (including buses, subways, taxis and more).
• Earn 1 Scene+ point on every $1 you spend on all other eligible purchases.
• You’ll earn 3X Scene+ points for each dollar charged to your account on all eligible purchases¹ at Sobeys, IGA, Safeway, Foodland, FreshCo, Voilà by Sobeys, Voilà by IGA, Voilà by Safeway, Chalo! FreshCo, Thrifty Foods, IGA West, Les Marchés TradItIon, Rachelle Béry and Co-Op.
• Airport lounge access through complimentary Visa…