Personal Finance

Credit Cards with No Foreign Currency Transaction Fees

  • Last Updated:
  • Mar 11th, 2014 10:53 am
Newbie
Sep 25, 2005
88 posts
1 upvote
Does anyone know which of the following Cdn credit card offer low foreign currency exchange charges? I currenlty have:

RBC platinum AVION
AMEX platinum
AMEX business

Thanks.
Deal Fanatic
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Nov 23, 2005
7793 posts
3665 upvotes
ertman wrote:
Jun 30th, 2009 4:35 am
Digging up an old thread here...

Citi Mastercard just jacked their foreign transaction fee to 3+% (the + is due to the fact that they use a poor exchange rate to start with, and then tack on the 3% fee.) I only found this out because I made a large purchase in the US last month and got charged 3.35% over the posted exchange rate. A call to customer service confirmed that it is now 3%. Fun.

I didn't know that Desjardins only charged 1.8% - I have a Visa with them that I almost never use, I think it's time to break it out!

Not correct!

Its still 2.5% ....

For rates, check out http://www.oanda.com/
Deal Addict
Oct 2, 2006
1241 posts
226 upvotes
Jul 1st, 2009 1:52 am

HammerRFDer wrote:
Jan 26th, 2009 4:03 am
Ah, right you are (about the Desjardins cash back card, not the 2.5 -1 =1 bit).

They don't quite emphasize the 0.5% cash back on their "Elegance GOLD" card with no annual fee unless you go specifically onto their Rewards page.
If you go with the their travel gold (70$ annual fee) you get 2% cashback on currency exchange rates so i think your actually paying less that what you should... (daily rate)
Deal Fanatic
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Nov 23, 2005
7793 posts
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ertman wrote:
Jul 3rd, 2009 12:51 am
Feel free to call Citibank Canada yourself, it's 3% now.
I know for a fact its 2.5% ..... :)

You were misinformed by that one rep ...
Newbie
Jan 6, 2006
77 posts
boyoflondon wrote:
Jul 3rd, 2009 1:11 pm
I know for a fact its 2.5% ..... :)

You were misinformed by that one rep ...
Hmmm, it's 3% on my bill from last month. I just called again, and a different rep told me it's 3%. Unless there is a different rate for different types of cards, I'm going to say it's 3% now.
Member
Jul 21, 2006
361 posts
3 upvotes
ertman wrote:
Jul 3rd, 2009 2:30 pm
Hmmm, it's 3% on my bill from last month. I just called again, and a different rep told me it's 3%. Unless there is a different rate for different types of cards, I'm going to say it's 3% now.
Which card do you have? It has always been 2.5% for me
Member
Jun 16, 2009
232 posts
36 upvotes
Chase Marriott Visa No Foreign transaction fees.

https://www.chase.com/online/canada/canada-home-en.htm


As a Cardmember you will receive:

30,000 Bonus Points after your first purchase
1 Free Night Stay at a Category 1-4 location after account approval
Together, that's enough for up to 5 Free Nights at a Category 1 Hotel (or 4 free nights at a Category 2 hotel)
No Foreign Currency Transaction Charges on international purchases in addition to the exchange rate!
5 points per $1 spent at over 3,500 participating Marriott® locations
2 points for every $1 spent on airline tickets purchased directly with the airline, and at car rental agencies & restaurants
1 point per $1 spent on purchases elsewhere
Achieve your next Elite membership level faster with 15 Nights Credit every year
Receive one anniversary bonus free night stay at a Category 1-5 hotel every year just for having the card!
No charge for additional cards
Plus, the Annual Fee is waived for the first year

*The annual interest rate for the Marriott Rewards Premier Credit Card is 19.99% for purchases and cash advances. Exchange rate applies to transactions made in foreign currency. The annual fee of $120 is waived for the first year and is then charged annually thereafter (whether your card is activated or not) on your statement anniversary date. Other fees: cash advance fee 1% of amount advanced, minimum $5.00; $25 dishonoured cheque fee; $25 over the credit limit fee;credit balance administration fee $25 or the amount of the credit balance for inactive credit balances for a period of at least 12 months.
The card is issued by JPMorgan Chase Bank, N.A.
Deal Fanatic
User avatar
Feb 9, 2005
5476 posts
119 upvotes
Scarborough
Mind you this thread was started 3 years ago, but now 3 of Chase Mastercard's are Forex Fee Free, the Amazon Visa, the Sears Mastercard, and the Mariott one, hopefully other credit providers will follow suit soon.
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Newbie
Mar 10, 2014
1 posts
A bit of an old thread but Sears Finance MC through Chase offers a Canadian card with no foreign ccurrency conversion charges, no membership fee and Sears rewards points.
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