2 Big Secrets Most Travel Credit Cards Are Hiding from You

What Your Travel Credit Cards Are Not Telling You

You can be paying a $700 Annual Fee for American Express Platinum, $250 for Amex Gold, $400 for TD, CIBC, RBC Visa Infinite Privilege (and many others), but what they don’t want you to know is that you will get dinged with 2.5% foreign currency transaction fee and some of these even don’t provide free lounge access.

For example, American Express Gold has a hefty $250 annual fee, but it even doesn’t provide free global lounge access. On paper, it looks like there are 4 free Plaza Premium Lounge Passes, but these free lounge passes are only applicable to Canadian airports.

The most important travel credit card feature all these cards don’t provide and are actually hiding from you is the foreign transaction fee. Every time you make a purchase in something other than Canadian currency, you will get charged a 2.5 percent foreign transaction (FX) fee.

However, there is one card with only a $140 annual fee that gives you both zero foreign currency transaction fees and 6 free global lounge accesses. Scotia Passport Visa Infinite is the only travel credit card on the Canadian market that offers both free global lounge access and zero foreign currency FX fees.

If you are reading this from another country, look for a travel credit card that offers zero foreign currency transaction fees and free global lounge access. These features should be the gold standard of any premium travel credit cards.

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