Best No Foreign Transaction Fee Credit Cards in Canada
Only 6 of the 118 Canadian credit cards we've checked charge no foreign transaction fee (as of October 16, 2026). Most cards add 2.5% to every purchase in another currency: $25 on every $1,000 you spend in US dollars or abroad. The lowest-cost option is Home Trust Preferred Visa, with $0 annual fee.
| Card | Annual fee | Foreign fee | Minimum income | Welcome bonus value |
|---|---|---|---|---|
| Home Trust Preferred Visa (Home Trust Company) | $0 | 0% | None published | — |
| Capital One Quicksilver World Elite Mastercard® (Capital One) | $0 | 0% | $80,000 | — |
| Capital One Quicksilver World Mastercard® (Capital One) | $0 | 0% | $50,000 | — |
| Scotiabank Gold American Express® Card (Scotiabank) | $120 | 0% | $12,000 | $500 |
| Scotiabank Passport® Visa Infinite +* Card (Scotiabank) | $150 | 0% | $60,000 | $350 |
| Scotiabank®* Platinum American Express® Card (Scotiabank) | $399 | 0% | $12,000 | $800 |
How much is the foreign transaction fee on Canadian credit cards?
Most Canadian credit cards charge 2.5% on purchases in a foreign currency, on top of the card network's exchange rate. That includes online shopping from US stores and paying tuition or bills in another currency.
Is a no foreign fee card worth paying an annual fee for?
Compare the annual fee with 2.5% of what you spend in other currencies each year. For example, Scotiabank Gold American Express® Card at $120 a year pays for itself once you spend about $4,800 a year in foreign currencies.
Calculate your foreign fees on every card · Compare money transfer costs · How we compare