Home Trust | HSBC | Meridian | Rogers Bank
Best Credit Cards for Foreign Purchases (updated January 8, 2018)
The United States have quite a few credit cards that offer no foreign transaction fees. Comparatively speaking, Canadians have the short end of the stick. Especially with the discontinuation of the two Chase Canada credit cards (Amazon and Marriott) that offer no foreign transaction fees.
That being said, there are some new options for Canadians, along with existing ones. Personally, I still have the Chase Marriott and Chase Amazon.ca Visa cards, as they are still grandfathered to existing cardholders. Furthermore, I have the Rogers Platinum MasterCard, since I am a Rogers client, which continually waives my annual fee.
I listed the options based on their annual fees and highlighted the significant bullet point relating to foreign purchases.
Home Trust Preferred Visa
- No annual fee
- Earn 1% cash back on all purchases
- No foreign transaction fees
- *Currently unavailable to Quebec residents
Rogers Bank Fido MasterCard
- No annual fee
- Earn $50 cash back sign up bonus (earn $25 after your first purchase and earn $25 when you register your Fido bill for pre-authorized payments both within the first 3 months)
- Earn 4% cash back on foreign exchange purchases
- Earn 1.5% cash back on all purchases
Rogers Bank Platinum MasterCard
- $29 annual fee (waived the first year or waived so long as you have pre-authorized Rogers payments set up)
- Earn $25 cash back sign up bonus
- Earn 4% cash back on foreign exchange purchases
- Earn 1.75% cash back on all purchases
Meridian Visa Infinite Travel Rewards Card
- $99 (first year free) annual fee
- $30 annual fee for a supplementary cardholder
- Earn 3 points for every $1 of net purchases in foreign currencies
- Earn 1.5 points for every $1 of net purchases
- Not available to Quebec residents
HSBC Premier World Elite MasterCard
- $149 annual fee
- No annual fee for supplementary cardholders
- Receive $100 annual travel credit
- Earn 6 HSBC points for every $1 spent on travel purchases
- Earn 3 HSBC points for every $1 spent on all other purchases
- Receive a Boingo membership
- No foreign transaction fees
I’m praying American will either change their FX policy on their platinum card or a no FX future spg Amex card
I hope so too!!
Amazon is ending Amazon Visa program with Chase on March 15 2018
https://www.amazon.ca/b/ref=CAECMREE?&ie=UTF8&node=17495798011
So unfortunate…
Looks like people on FT are confirming Marriott Visa program also ending March, 2018.
https://www.flyertalk.com/forum/marriott-rewards/1370926-canadian-offer-marriott-rewards-premier-visa-card-82.html
I have both Amazon and Marriott CCs and stay frequently in Marriott branded hotels for work. Sad this is happening, going to miss the 5 pts/$. Any alternatives for the Marriott CC?
Definitely sad to see. Depends on what you want! Maybe AMEX SPG?
HI Matthew, is the Fido card’s cash back rewards only allowed to be used for fido products?
Hi Edward, check out this post: http://pointshogger.boardingarea.com/comparison-of-the-fido-and-rogers-mastercards
There are several options to choose from!
Just want to share that recently I’ve applied for another credit card that is much lesser known to the Canadian general public, but available to all: http://www.icbk.ca/EN_new/Personal/Cards/credit_card.htm
It is a Canadian dollar dominated UnionPay credit card issued by Industrial and Commercial Bank of China (Canada) which waives the 2.5% currency conversion fee when using it abroad. I’ve used it in the United States with no issues because it utilizes the Discover Card’s network, and in Europe / Asia Pacific as well with full acceptance in major cities. Just another option to consider…
Thanks for sharing Sandy!
The Meridian card is also not available to Quebec residents.
I specified this in more recent posts. But mine as well update this one as well! Thanks Steven!