Best U.S. Dollar Credit Cards in Canada
A U.S.-dollar credit card bills you in U.S. dollars, so purchases made in USD skip the currency conversion and the 2.5% fee most Canadian cards add. It works best if you already have U.S. dollars to pay the bill with, usually from a US$ bank account. Ranked by the cost of holding the card, then rewards, using terms published by each issuer.
Short answer: The Scotiabank U.S. Dollar Visa is the cheapest U.S.-dollar card to hold: US$35 a year, free supplementary cards and a 19.99% purchase rate, but no rewards. If you want points, the CIBC U.S. Dollar Aventura Gold Visa (#2) has the same US$35 fee, rebated in year one, and the RBC U.S. Dollar Visa Gold (#5) earns the most, 1 Avion point per US$1, for US$65. If you just want to avoid the 2.5% fee and don’t hold U.S. dollars, a no foreign transaction fee card is usually simpler. Terms checked September 21, 2026 against each issuer’s own page.
Our Picks, Ranked
among U.S.-dollar cards
Scotiabank U.S. Dollar Visa Card
Why it’s #1: The cheapest U.S.-dollar card to carry: US$35 a year, free supplementary cards, and the lowest purchase rate here at 19.99%. It earns no rewards, so its whole job is removing the conversion cost on U.S.-dollar purchases.
Good for
- ✓Up to 25% off Avis and Budget car rentals in Canada and the U.S.
- ✓Purchase security and extended warranty protection
Worth knowing
- !No rewards of any kind
- !No welcome offer
among U.S.-dollar cards
CIBC U.S. Dollar Aventura Gold Visa Card
Why it’s here: The same US$35 fee as Scotiabank, rebated in the first year, and it earns Aventura points: 1 point per $1 on travel booked through the CIBC Rewards Centre and 1 point per $2 on everything else. The fee is rebated every year if you also hold a CIBC US$ account and a premium CIBC credit card.
Good for
- ✓Welcome offer of up to 2,500 Aventura points
- ✓Annual fee rebate with a CIBC US$ account and a premium CIBC credit card
Worth knowing
- !Low earn rate outside travel booked through CIBC
- !$15,000 minimum annual household income
among U.S.-dollar cards
TD U.S. Dollar Visa Card
Why it’s here: US$39 a year with trip interruption, baggage and auto rental coverage built in, and no fee for additional cardholders. No rewards, and purchases in other currencies are converted to U.S. dollars with a conversion fee.
Good for
- ✓Trip interruption, common carrier accident and baggage coverage
- ✓Auto rental collision and loss damage insurance
Worth knowing
- !No rewards, points or cash back
- !No travel medical insurance
among U.S.-dollar cards
BMO U.S. Dollar Mastercard
Why it’s here: US$49 a year, but spend US$3,000 on the card in a year and BMO rebates the following year’s fee, so it is effectively free for regular cross-border spenders. BMO doesn’t advertise rewards on this card.
Good for
- ✓Next year’s fee rebated when you spend US$3,000 in a year
- ✓Extended warranty and purchase protection
Worth knowing
- !No rewards advertised
- !23.99% cash advance rate
among U.S.-dollar cards
RBC U.S. Dollar Visa Gold
Why it’s here: The richest earn rate here, 1 Avion point per US$1 on qualifying purchases, plus a fuller insurance package. At US$65 a year (US$30 per additional card) it is also the most expensive, so it suits people who spend heavily in U.S. dollars.
Good for
- ✓Earns Avion points on every qualifying U.S.-dollar purchase
- ✓Travel accident, trip cancellation and auto rental coverage
Worth knowing
- !Highest annual fee of the five
- !No welcome offer
All 5 U.S. Dollar Cards at a Glance
Compare any cards side by side →| # | Card | Annual fee | Rewards | Purchase rate | Rating | |
|---|---|---|---|---|---|---|
| 1 | Scotiabank U.S. Dollar Visa Card | US$35 | None | 19.99% | 4.8 ★ | Apply |
| 2 | CIBC U.S. Dollar Aventura Gold Visa Card | US$35 first year rebated | 1 pt / $2 | 21.99% | 3.7 ★ | Apply |
| 3 | TD U.S. Dollar Visa Card | US$39 | None | 21.99% | 3.5 ★ | Apply |
| 4 | BMO U.S. Dollar Mastercard | US$49 rebated after US$3,000 spend | None | 21.99% | 3.2 ★ | Apply |
| 5 | RBC U.S. Dollar Visa Gold | US$65 | 1 pt / US$1 | 20.99% | 3.2 ★ | Apply |
Annual fees are charged in U.S. dollars. Terms are each issuer’s published figures as of September 21, 2026. Rating = MoneyMint rating among U.S.-dollar cards. Methodology
What Is a U.S. Dollar Credit Card?
It is a Canadian credit card whose account is kept in U.S. dollars. Purchases made in USD are charged as-is, with no conversion into Canadian dollars, so you avoid the 2.5% foreign transaction fee most Canadian cards add. Your statement, balance and annual fee are all in U.S. dollars.
Do I Need a U.S. Dollar Bank Account?
To get the full benefit, usually yes. The bill is due in U.S. dollars, so if you pay it from a Canadian-dollar account, your bank converts the payment at its own exchange rate and you pay a conversion cost anyway. These cards work best for people who already earn, hold or regularly buy U.S. dollars. If you need somewhere to keep U.S. dollars, see our Simplii Financial USD Savings Account review.
Should I Get a U.S. Dollar Card or a No Foreign Transaction Fee Card?
A no foreign transaction fee card bills you in Canadian dollars at the card network’s exchange rate without the 2.5% markup, and it works for any currency, not just U.S. dollars. A U.S.-dollar card only helps with U.S.-dollar spending and needs U.S. dollars to pay the bill. If you don’t already hold U.S. dollars, the no-FX card is usually simpler.
What Happens When I Pay in Euros or Another Currency?
A U.S.-dollar card is only fee-free for U.S.-dollar purchases. Purchases in other currencies are converted into U.S. dollars, and a conversion fee normally applies. TD, for example, says its standard conversion fee still applies to non-U.S. currencies. Check each card’s terms before using it outside the U.S.
Is There a No-Fee Way to Earn Rewards on U.S. Purchases?
None of the five U.S.-dollar cards here has a $0 annual fee, although BMO rebates next year’s fee once you spend US$3,000 and CIBC rebates the first year. Another option is the Rogers Red World Elite Mastercard, a Canadian-dollar card with no annual fee that pays 3% cash back on U.S.-dollar purchases, although its 2.5% foreign transaction fee still applies.
Rates, fees and offers are as last verified by MoneyMint and may have changed — always confirm current terms on the issuer’s official page before applying. Some links on this page may be affiliate links, meaning MoneyMint could earn a commission if you apply through them, at no extra cost to you. This never affects which cards we feature or how we rank them. This is general information, not personalized financial advice. Where a card earns points, “estimated value” figures convert points to dollars using MoneyMint’s own point valuations — see our points value calculator.