1.Scotiabank Passport Visa Infinite
Scotiabank
- 3%Scene+ points on eligible grocery, dining, and entertainment purchases
- 1%Scene+ points on all other purchases
Get up to $1,500 in value in the first year, including a 60,000 bonus Scene+ point offer with minimum spend and no annual fee on your first year.
Earn up to 3X Scene+ points on every $1 you spend on eligible grocery, dining, and entertainment purchases.
20.99%
22.99%
The Scotiabank Passport Visa Infinite stands out as the top choice because it offers extensive travel benefits, including no foreign transaction fees and a robust rewards structure that maximizes points on travel and dining.
Pros:
- No foreign transaction fees
- Comprehensive travel insurance
Cons:
- Annual fee applies
- High spending requirement for bonus points
2.Scotiabank Gold American Express
Scotiabank
- 6%Scene+ points on groceries
- 5%Scene+ points on dining and entertainment
- 3%Scene+ points on streaming services
- 1%Scene+ points on all other purchases
Earn up to 45,000 bonus Scene+ points as a welcome bonus, achievable by spending CA$2,000 in the first three months.
Earn 6 Scene+ points per $1 spent at Sobeys, Safeway, FreshCo and more.
20.99%
22.99%
What sets this card apart is its exceptional rewards rate on groceries and dining, making it a top choice for those who frequently spend in these categories.
Pros:
- High rewards on groceries and dining
- No foreign transaction fees
Cons:
- Annual fee applies
- Spending requirement for bonus points
3.Scotiabank Platinum American Express
Scotiabank
- 3%Scene+ points on travel
- 2%Scene+ points on dining and entertainment
- 1%Scene+ points on all other purchases
Earn up to 80,000 Scene+ points, with 60,000 points after spending CA$3,000 in the first 3 months.
Earn 3 Scene+ points on travel booked via Scene+ Travel.
9.99%
9.99%
This card shines for its premium travel benefits, including access to airport lounges and a strong rewards program tailored for frequent travelers.
Pros:
- Comprehensive travel insurance
- Access to airport lounges
Cons:
- High annual fee
- Spending requirement for bonus points
4.Home Trust Preferred Visa
Home Trust
- 1%Cash back on all eligible purchases
N/A
Earn 1% cash back on all eligible purchases.
21.99%
21.99%
The standout feature here is its simplicity, offering a straightforward 1% cash back on all purchases without the burden of annual fees.
Pros:
- No annual fee
- No foreign transaction fees
Cons:
- No rewards on foreign currency purchases
- Limited rewards structure
5.Brim Mastercard
Brim Financial
- 2%Cash back on first $25,000 in spending
N/A
Earn up to 2% cash back on the first $25,000 in spending annually.
19.99%
21.50%
This card is appealing for its flexible cash back rewards, allowing users to earn on a variety of purchases without an annual fee.
Pros:
- No annual fee
- Flexible rewards structure
Cons:
- Cash back cap on spending
- Interest rates can be high
6.KOHO Extra Mastercard
KOHO
- 1.5%Cash back on groceries, food & drinks, and transportation
- 0.25%Cash back on all other purchases
Get $20 cash after signing up and making your first purchase within 30 days.
Earn 1.5% cash back on groceries, food & drinks, and transportation.
A key differentiator is its tiered cash back structure, rewarding users significantly for spending in key categories while also providing interest on their balance.
Pros:
- High cash back on specific categories
- Earn interest on balance
Cons:
- Significant annual fee
- Limited cash back on other purchases
7.Wealthsimple Cash Prepaid Mastercard
Wealthsimple
- No rewards breakdown available
Potential small deposit bonuses like $25 for new users funding their account.
No longer offers rewards on purchases.
This card is particularly useful for those looking to avoid foreign transaction fees while still benefiting from ATM fee reimbursements, despite the lack of cash back rewards.
Pros:
- No foreign transaction fees
- ATM fee reimbursements
Cons:
- No cash back rewards
- Limited features compared to credit cards
8.EQ Bank Card
EQ Bank
- 0.5%Cash back on every purchase
N/A
Earn 0.5% cash back on every purchase.
The standout feature of the EQ Bank Card is its ability to earn cash back while also providing high interest on the balance, making it a strong choice for everyday spending.
Pros:
- No foreign transaction fees
- High interest on balance
Cons:
- Limited cash back rate
- No traditional credit features
Final Words
As you consider the best credit cards with no foreign transaction fees this January, remember to evaluate your travel habits and financial needs carefully. Take time to compare the options available, ensuring you select a card that maximizes your benefits while minimizing costs.
Frequently Asked Questions
The Scotiabank Passport Visa Infinite card offers a welcome bonus of Get up to $1,500 in value in the first year, including a 60,000 bonus Scene+ point offer with minimum spend and no annual fee on your first year. You can earn up to 3X Scene+ points on every $1 you spend on eligible grocery, dining, and entertainment purchases.
With the Scotiabank Gold American Express card, you can earn a welcome bonus of Earn up to 45,000 bonus Scene+ points as a welcome bonus, achievable by spending CA$2,000 in the first three months. The card provides 6 Scene+ points per $1 spent at Sobeys, Safeway, FreshCo and more.
The Scotiabank Platinum American Express card offers a welcome bonus of Earn up to 80,000 Scene+ points, with 60,000 points after spending CA$3,000 in the first 3 months. You earn 3 Scene+ points on travel booked via Scene+ Travel, 2% on dining and entertainment, and 1% on all other purchases.
Yes, several credit cards in Canada do not charge foreign transaction fees, making them ideal for travelers. Cards like the Scotiabank Passport Visa Infinite are designed specifically to waive these fees, allowing you to save money while spending abroad.
To choose the best credit card with no foreign transaction fees, consider your spending habits, annual fees, and the rewards offered. It's essential to compare cards based on their benefits and how well they align with your lifestyle and travel needs.
While many credit cards with no foreign transaction fees come with annual fees, some may offer no annual fee during the first year or provide significant rewards that outweigh the cost. Be sure to evaluate whether the card's benefits justify any annual fee.
Credit cards with no foreign transaction fees often offer a variety of rewards, including points for travel, dining, and everyday purchases. For example, the Scotiabank Passport Visa Infinite allows you to earn up to 3X Scene+ points on eligible grocery, dining, and entertainment purchases.
