Best No Foreign Transaction Fee Credit Cards in Canada
Most Canadian credit cards add a 2.5% foreign transaction fee on every purchase made in another currency — online or abroad. The cards below skip that markup entirely, which can easily be worth more than a welcome bonus if you travel or shop from U.S. and international retailers regularly.
Short answer: The Scotiabank Gold American Express Card is the best no-foreign-transaction-fee card for most Canadians (4.7/5): no 2.5% markup, up to 6 Scene+ points per $1 on eligible purchases, and travel insurance for $120 a year. Because Amex is accepted at fewer merchants abroad, pair it with a Visa or Mastercard. The Home Trust Preferred Visa (#2) is the only card here with no annual fee and no foreign exchange fee, and the Scotiabank Passport Visa Infinite+ (#3) adds six lounge visits a year for $150. Figures checked September 21, 2026 against issuer pages.
Our Picks, Ranked
among travel cards
Scotiabank Gold American Express® Card
Why it’s #1: No 2.5% markup, up to 6 Scene+ points per $1 on eligible purchases, and a travel insurance package for $120 a year (waived with an eligible Scotiabank account). The catch is the network: American Express is accepted at fewer merchants abroad, so carry a Visa or Mastercard as a backup.
Good for
- ✓Travel medical insurance $1,000,000
- ✓Trip cancellation/interruption up to $1,500/$10,000 per trip
Worth knowing
- !$120/yr fee with no universal first-year waiver (rebate only via an existing Scotiabank package)
- !Bonus categories cap at $50,000 combined spend/yr
among no-fee cards
Home Trust Preferred Visa Card
Why it’s here: The only card on this page with no annual fee and no foreign exchange fee, on the Visa network, which is widely accepted abroad. It earns a flat 1% cash back and has no travel insurance, so it is a strong travel backup rather than a rewards card.
Good for
- ✓No annual fee and no foreign exchange fee on purchases in other currencies
- ✓Flat, uncapped 1% cash back on eligible purchases
Worth knowing
- !Not available to Quebec residents
- !Cash back is paid once a year, as a January statement credit, and there is no travel insurance
among travel cards
Scotiabank Passport® Visa Infinite +* Card
Why it’s here: 6 lounge visits, no FX fee. 6 complimentary airport lounge visits per year via the Visa Airport Companion Program (1,200+ participating lounges)
Good for
- ✓Travel insurance suite: emergency medical up to $2,000,000 (25 days per trip…
- ✓Complimentary Avis Preferred Plus membership, roughly 5%-25% off select retail rental…
Worth knowing
- !$150 annual fee applies in full unless bundled with an eligible Scotiabank banking package.
- !Income eligibility bar is high and imprecisely worded: $60,000-$80,000+ personal or $100,000-$150,000+…
among premium travel cards
Scotiabank Passport® Visa Infinite Privilege* Card
Why it’s here: No FX fee plus 10 complimentary lounge visits per cardholder each year. At $599 ($150 less with a Scotiabank Ultimate Package), it only pays off if you travel often enough to use the visits and the travel credit.
Good for
- ✓10 complimentary airport lounge visits per year (Visa Airport Companion Program /…
- ✓$250 annual statement credit toward a Scene+ Travel portal booking of $250+
Worth knowing
- !$599 annual fee is among the highest of any Canadian travel credit card
- !Steep income/asset eligibility bar ($150K personal / $200K household / $400K AUM)
among travel cards
Wealthsimple Credit Card
Why it’s here: 0% FX with 2% cash back on a Visa. The catch: it requires a Wealthsimple account, the monthly fee is waived only for eligible clients, and lounge access comes only with the top Visa Infinite Privilege tier.
Good for
- ✓Unlimited cash back with no annual cap
- ✓No contactless tap limit
Worth knowing
- !Requires opening and maintaining an active Wealthsimple chequing account — this is not a standalone credit…
- !The $240/year fee only disappears if you meet the asset ($100,000+) or direct-deposit…
among premium travel cards
Rogers Red World Legend Mastercard
Why it’s here: No FX fee on a Mastercard, 2% cash back on eligible purchases worldwide, and six Plaza Premium lounge passes a year. The 2% rate depends on an eligible Rogers, Fido or Shaw service, and the $495 fee only pays off for heavy spenders.
Good for
- ✓10 Roam Like Home days per year with an eligible Rogers mobile plan
- ✓$200/year Rogers Entertainment Credit toward eligible streaming and TV services
Worth knowing
- !The $495/year annual fee is one of the highest among Canadian cash back cards without a travel loyalty program
- !The advertised 2% cash back rate requires an active eligible Rogers, Fido, Shaw…
All 6 No-FX-Fee Cards at a Glance
Compare any cards side by side →| # | Card | Annual fee | Network | Rewards (est.) | Lounge access | Rating | |
|---|---|---|---|---|---|---|---|
| 1 | Scotiabank Gold American Express® Card | $120 | Amex | ~6% on groceries | Discount | 4.7 ★ | Apply |
| 2 | Home Trust Preferred Visa Card | $0 | Visa | 1% cash back, paid yearly | None | 3.4 ★ | Apply |
| 3 | Scotiabank Passport® Visa Infinite +* Card | $150 | Visa | ~3% on groceries | 6 visits / yr | 3.6 ★ | Apply |
| 4 | Scotiabank Passport® Visa Infinite Privilege* Card | $599 | Visa | ~3% on travel | 10 visits / yr | 3.8 ★ | Apply |
| 5 | Wealthsimple Credit Card | $240 | Visa | ~2% on everyday spending | Top tier only | 3.5 ★ | Apply |
| 6 | Rogers Red World Legend Mastercard | $495 | Mastercard | ~2% on everyday spending | 6 passes / yr | 3.7 ★ | Apply |
Every card here charges 0% foreign transaction fee on purchases; you still pay the card network’s exchange rate. Rewards rates are estimated cash-equivalent values. Rating = MoneyMint rating within each card’s category. Methodology
What Is a Foreign Transaction Fee, and How Much Does It Cost?
It is a surcharge Canadian issuers add on top of the exchange rate whenever you pay in another currency — typically 2.5%. It applies to online orders from foreign sites as well as travel, so a $3,000 trip plus a few US purchases can quietly cost $75–$100 a year in fees alone.
Which of These Cards Is the Cheapest Way to Avoid the Fee?
The Home Trust Preferred Visa is the only card on this page with no annual fee. It earns a flat 1% and has no travel insurance, and it is not available in Quebec. If you want stronger rewards and insurance, the Scotiabank Gold Amex at $120 a year is the least expensive of the rest. The premium options — Scotiabank Passport Visa Infinite Privilege at $599 and Rogers Red World Legend at $495 — only make sense if you will use their travel perks.
Which No-FX-Fee Cards Are Visa or Mastercard?
Visa: the Home Trust Preferred Visa, Scotiabank Passport Visa Infinite+, Scotiabank Passport Visa Infinite Privilege and the Wealthsimple Credit Card. Mastercard: the Rogers Red World Legend. The Scotiabank Gold card is an American Express, which fewer merchants accept outside Canada, so it works best alongside a Visa or Mastercard.
Does “No Foreign Transaction Fee” Mean the Conversion Is Free?
No. You still get the card network’s exchange rate, which is not the mid-market rate you see on Google. What you avoid is the extra 2.5% layered on top. That is the part worth chasing, but do not expect the converted amount to match a currency converter exactly.
Do These Cards Help for Online Shopping From US Websites?
Yes. If a merchant bills in US dollars, the fee applies regardless of where you are sitting — so a no-FX-fee card saves the same 2.5% on a US online order as it does at a hotel abroad. This is the case people most often overlook when deciding whether the card is worth it. If you already hold U.S. dollars, a U.S. dollar credit card is another way to avoid the fee on U.S. purchases.
What Is the Catch With the Rogers Red World Legend?
Its 2% everywhere rate depends on the primary cardholder keeping an eligible Rogers, Fido, Shaw or Comwave service. Without one, the earn rate drops and a $495 annual fee is hard to justify. It is a strong card for existing Rogers customers and a poor one for everybody else.
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.