For example, the Home Trust Preferred Visa Card earns at the same 1% rate on Canadian-dollar expenses, but it has no rewards on purchases made in other native currencies.Įven premium cards with no foreign transaction fees, like the ones offered by Scotiabank, knock the bonus categories down to just 1 point per dollar spent on foreign purchases. What sets this card apart from other no-fee cards is that it earns the same rewards on foreign transactions. It has no annual fee, and earns 1% back on all purchases. If a $199 annual fee is too steep, consider the entry-level Brim Mastercard instead. Plus, earn 1x Brim points (equivalent to 1% cash back) on all purchases.Best No Fee Credit Card with No Foreign Transaction Fees You’ll definitely want to try to maximize Brim’s partner rewards whenever you can to make sure you’re getting top value from the card.īut even if you struggle to use those benefits, a 2% base earn rate is unheard of for a Mastercard in Canada – it could easily pay off if you’re a heavy Costco shopper, for example. With an annual fee of $199 (waived for the first year), it’s not the cheapest way to avoid foreign transaction fees. And when you’re abroad, you can take advantage of no foreign transaction fees on your foreign purchases. When shopping at home, rather than category bonuses, you can earn extra rewards through Brim’s wide variety of retail partners, in some cases up to 10%. Brim points are worth 1 cent each and can be easily redeemed for statement credit, making them effectively as good as cash back. If you’d prefer to earn cash back rewards on foreign purchases, the Brim World Elite Mastercard is the best in Canada. Annual fee: $0 for the first year, then $199.Minimum income: $80,000 personal or $150,000 household.Plus, earn 2x Brim points (equivalent to 2% cash back) on other purchases.Plus, earn up to 30x Brim points (equivalent to 30% cash back) at select partner merchants.Earn 1,000 Brim points (worth $10) upon approval.Best American Express Card with No Foreign Transaction Fees It’s always nice when you can extract multiple travel benefits from a single card (and a single annual fee). You’ll also have no trouble using this card along your travels, thanks to the wide acceptance of Visa cards around the world.Īlso, this card comes with a complimentary DragonPass membership and six annual visits to participating airport lounges and restaurants. Travellers can take comfort in earning a 2% return without having to pay FX fees on all their eats, drinks, entertainment, and public transportation when journeying abroad. The Scotiabank Passport Visa Infinite Card sets itself apart as a true traveller’s card, offering strong welcome bonus, no foreign exchange fees, and a 2% effective earning rate on grocery stores, dining, entertainment purchases, and daily transit purchases, both home and abroad.
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