Do You Want Our Free Non-Resident Banking Guide? So, ultimately, whether it is worth it to get a credit card with no foreign transaction fees depends on your spending habits and expectations for the year ahead. In most cases, credit cards charge between 2% and 3% on foreign transactions. In other words, if you expect to incur foreign transaction fees regularly, you could save money by having the right card. It can be worth it to get a credit card with no foreign transaction fees if you plan on making regular purchases in a foreign currency. Is It Worth It to Get a Credit Card With No Foreign Transaction Fees? In other words, the price that you pay is final and you will not need to calculate the extra foreign transaction fees that are added to each of your purchases. Two major benefits of using a no foreign transaction fee credit card include savings on foreign purchases and the elimination of uncertain pricing while traveling. Benefits of Using a No Foreign Transaction Fee Credit Card However, CIBC and RBC do issue USD-denominated credit card options to accommodate clients looking to make purchases in the United States. Among the largest card issuers are Scotiabank and HSBC. No foreign transaction fee credit cards in Canada are available from several major banks and smaller financial institutions. No Foreign Transaction Fee Credit Card Canada
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