Most Canadian credit cards add a 2.5% fee to anything you buy in another currency, whether on a trip or from a U.S. website. A handful charge nothing. The best for most people is the Wealthsimple Visa Infinite+, which pays 2% back on foreign purchases too, if you can get its fee waived. With no annual fee at all, the Home Trust Preferred Visa is the simplest option. Here are our picks, checked against each issuer’s page.
Key takeaways
- The usual fee is 2.5%. On $5,000 of spending in U.S. dollars or on a trip, that’s $125 a year.
- All five picks charge no foreign fee, from the no-fee Home Trust Preferred Visa to the $495 Rogers Red World Legend.
- Rewards on foreign spending vary. Wealthsimple pays 2%, Rogers Red World Legend 1.5% or more, the Scotiabank cards 1 Scene+ point per $1, and Home Trust nothing.
- Exchange rates still apply. No foreign fee means no extra 2.5%; you still pay Visa’s, Mastercard’s or Amex’s conversion rate.
How we picked these cards
Every card here charges no foreign transaction fee, confirmed on the issuer’s own page or disclosure. We then compared the annual fee, what each card earns on foreign purchases, travel perks and insurance, and how easy it is to qualify. See how we rate cards.
Calculator: what does no foreign fee save you?
No foreign fee calculatorEnter what you spend in other currencies in a year, including trips and U.S. websites. See what each card saves and earns on that spending, after its annual fee.
Your spending in other currencies
Best for this spending
Fees a 2.5% card charges
that you avoid
Net value a year
vs a typical card
All cards on your foreign spending
| Card | Fees avoided | Rewards earned | Annual fee | Net |
|---|
The best no foreign transaction fee credit cards in Canada
1. Wealthsimple Visa Infinite+, best overall
Wealthsimple pays 2% cash back on everything, with no categories, no cap and no foreign transaction fee. That makes it the best earner on foreign purchases on this list. The catch is the $240 fee, billed $20 a month, unless you have $100,000 at Wealthsimple or get $4,000 a month in direct deposits there. You also need a Wealthsimple chequing account to pay the card.
Best suited for: Wealthsimple clients who travel or shop in U.S. dollars. Read our Wealthsimple credit card review. The Visa Infinite Privilege version adds lounge visits and higher insurance for higher incomes.
2. Home Trust Preferred Visa, best no-fee card
The simplest way to avoid foreign fees. There’s no annual fee and no foreign transaction fee, and you earn 1% cash back on purchases in Canada. Foreign purchases earn no cash back, so its value abroad is purely the 2.5% you save. It isn’t available in Quebec.
Best suited for: Occasional travellers and online shoppers who want no fees at all. Read our Home Trust review.
3. Scotiabank Passport Visa Infinite+, best for travel perks
The Passport adds real travel perks to no foreign fee: 6 free airport lounge visits a year and strong travel insurance, including trip cancellation and emergency medical. It earns 3 Scene+ points per $1 at Sobeys-family stores, 2 on dining, other groceries, entertainment and transit, and 1 on everything else, including foreign purchases.
Best suited for: Travellers who want lounges and insurance on top of no foreign fee. It’s our top pick for travel credit cards.
4. Scotiabank Gold American Express, best for everyday rewards
The Scotiabank Gold Amex earns well at home, with up to 6 Scene+ points per $1 at Sobeys-family stores and 5 on dining, food delivery, other groceries and entertainment, on the first $50,000 a year. Foreign purchases earn 1 point per $1, with no foreign fee. It’s an American Express, so check that the places you shop abroad take it.
Best suited for: People who want strong everyday rewards and occasionally spend abroad. It’s also on our best dining cards list.
5. Rogers Red World Legend Mastercard, best for big spenders
Rogers’ premium card has no foreign transaction fee and earns 2% cash back with a Rogers, Fido, Shaw or Comwave service (1.5% without), with no yearly cap. It also includes lounge passes, a $200 entertainment credit and full travel insurance. The $495 fee only makes sense if you spend a lot and use the perks. Rogers is changing its cards on November 18, 2026.
Best suited for: High spenders who travel often and will use the perks. Read our Rogers credit card review.
Also worth a look
- Brim World Elite Mastercard and Brim Mastercard: not fee-free, but they charge 1.5% instead of 2.5%. The World Elite costs $89 and earns 1% back. Read our Brim review.
Side-by-side comparison
Our five picks, compared on what matters when you spend in other currencies.
| Card | Annual fee | Foreign fee | Earn on foreign purchases | Lounge visits | Network |
|---|---|---|---|---|---|
| Wealthsimple Visa Infinite+ | $240 (waivable) | None | 2% | No | Visa |
| Home Trust Preferred Visa | $0 | None | None | No | Visa |
| Scotiabank Passport Visa Infinite+ | $150 (waivable) | None | 1 point per $1 | 6 a year | Visa |
| Scotiabank Gold Amex | $120 (waivable) | None | 1 point per $1 | No | Amex |
| Rogers Red World Legend | $495 | None | 1.5% to 2% | Yes | Mastercard |
How foreign transaction fees work
When you buy something in another currency, your card converts it to Canadian dollars at the network’s exchange rate. Most Canadian cards then add 2.5% on top. That fee applies to trips abroad and to online purchases charged in U.S. dollars or other currencies, even if you never leave home. A card with no foreign transaction fee skips that 2.5%.
Two things still cost you: the network’s own exchange rate, and dynamic currency conversion. That’s when a terminal or website offers to charge you in Canadian dollars. Say no and pay in the local currency, because the merchant’s rate is usually worse. Read more in our guide to foreign transaction fees or try the foreign transaction fee calculator.
Frequently asked questions
Which Canadian credit cards have no foreign transaction fee?
Our picks are the Wealthsimple Visa Infinite+ and Privilege, Home Trust Preferred Visa, Scotiabank Passport Visa Infinite+, Scotiabank Gold American Express and Rogers Red World Legend Mastercard. Most other Canadian cards charge 2.5%.
What is the best no foreign transaction fee credit card with no annual fee?
The Home Trust Preferred Visa: no annual fee, no foreign fee and 1% cash back on purchases in Canada. It earns nothing on foreign purchases and isn’t available in Quebec.
How much is the foreign transaction fee on most Canadian credit cards?
Usually 2.5% of the purchase, added on top of the card network’s exchange rate.
Do foreign transaction fees apply to online shopping?
Yes, if the purchase is charged in a foreign currency, such as U.S. dollars, even if you’re in Canada.
Is it better to pay in Canadian dollars or the local currency abroad?
Pay in the local currency. When a terminal offers to charge you in Canadian dollars, the merchant sets the exchange rate, and it’s usually worse than your card network’s.
Do no foreign fee cards still charge an exchange rate?
Yes. You still pay the network’s conversion rate. No foreign fee only means the card doesn’t add its own 2.5% on top.
Find the right card for your trips
For lounge access, airline cards and insurance, see our best travel credit cards. For cards with no annual fee across all categories, see best no-fee credit cards.
Related reading
- Best travel credit cards: the full shortlist
- Foreign transaction fee calculator: what 2.5% costs you
- Wealthsimple credit card review: 2% back, no foreign fee
- Home Trust credit card review: no fees at all
- Foreign transaction fees explained: how they work
- Best rewards credit cards: our top picks across every category
- Where can you use your credit card?: stores, bonus rates, bills and travel
How we checked: Every card’s foreign transaction fee, annual fee, earn rate and income requirement comes from the issuer’s own card page or disclosure: Wealthsimple, Home Trust, Scotiabank (Passport Visa Infinite+ and Gold American Express), Rogers Bank and Brim. The calculator counts only rewards and fees on your foreign spending, values Scene+ points at 1¢, uses Rogers’ 1.5% rate without a Rogers service, and leaves out welcome offers, perks and insurance. This list is general information, not financial advice. Sources: Wealthsimple credit card; Home Trust Preferred Visa; Scotiabank Passport Visa Infinite+; Scotiabank Gold American Express; Rogers Bank credit cards; Brim personal credit cards. Last checked October 2026.
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