Best No Foreign Transaction Fee Cards
Canadians pay a 2.5 percent foreign transaction fee on most credit cards when they travel, even on high -end annual fee credit cards. Three cards are the exception to this rule. However, there is another option that became available to Canadians recently to avoid the foreign fee.
Here the three cards that let you avoid the foreign currency fee:
Chase Marriott Rewards Visa Card
Amazon Visa card
Rogers Platinum MasterCard
CIBC Air Canada AC Conversion Visa Prepaid Card
A new card called the CIBC Air Canada AC Conversion Visa Prepaid Card offers some unique features that come in handy when you travel. Don’t let this prepaid card steer you away from the various benefits it offers.
You can load a maximum of 10 currencies on this card and as long as you purchase within those currencies in foreign lands, you will not pay any foreign currency fee when you buy. However, when you load foreign currency, it seems to factor this in and charge a foreign currency fee. You can also withdraw cash from ATMs and get no fee for the first withdrawal.
My main reason to like this card is flexibility. I am always uncomfortable browsing the streets in foreign lands with a card that has $20,000 to $30,000 credit limit in my pocket. The AC Conversion Card lets me load any amount I want (minimum $100, max $3,000) and I would have peace of mind knowing that losing my card would be no big deal, as I would only load what I need daily in small amounts when I travel.
I will do an unboxing video of this card on my YouTube channel and possibly write more in the future. And rest assured, just like my all other credit card articles and videos, I do not accept money from credit card companies or provide any affiliated links to make money signing you up like other websites or blogs.