No Foreign Exchange Fee Credit Cards: Best Options in 2021

In a world of international travels and global online purchases, credit cards that do not charge foreign exchange fees can save you a considerable sum. These charges typically range from 2.5% - 3% of the purchase amount. This article provides an in-depth look into the credit cards offering the blessing of no foreign exchange fees.

Home Trust Preferred Visa Card

The Home Trust Preferred Visa Card provides value through simplicity. No annual fee, no foreign transaction fees, and a 1% cash-back feature on all your eligible purchases. For international travellers and online shoppers regularly buying products from abroad, this card is a great aid.

Rogers World Elite Mastercard

Though the Rogers World Elite Mastercard technically includes a 2.5% foreign transaction fee, it offers a 4% cash back on purchases made in a foreign currency. The net gain is 1.5% on foreign transactions - a rarity. It also offers 2% on Rogers products and services, and 1.5% on all other purchases. With no annual fee, this card provides exceptional value.

HSBC World Elite Mastercard

The HSBC World Elite Mastercard waives foreign exchange fees on credit card purchases abroad or on foreign online shopping websites. You’ll see savings not just on foreign exchange fees but also through significant points bonuses for travel, dining, and more. The card does have an annual fee, but for the habitual international traveller or global online shopper, the benefits quickly outweigh the costs.

Scotiabank Passport Visa Infinite

The Scotiabank Passport Visa Infinite card, aimed at frequent travellers, charges no foreign transaction fees - an unusual feature for a major bank. You can earn up to 2 Scotia rewards points for every $1 you spend and receive comprehensive travel insurance. Although there's an annual fee, the perks for frequent travellers are worth it.

Brim Financial Mastercards

Brim Financial offers three Mastercards - Basic, Brim World, and Brim World Elite, all of which come with no foreign transaction fees. Also, they all offer rewards points, with the higher-tier cards providing more valuable perks like lounge access and extensive insurance coverage. Depending on your spending habits and travel needs, one of these cards may offer the best value for your lifestyle.

MBNA True Line Mastercard

The MBNA True Line Mastercard is one of the few cards from major banks with no foreign exchange fees. This card is an excellent choice for those looking to save on foreign transaction fees without an expensive annual fee. It also offers a low interest rate, making it a worthy consideration for those who carry a balance month-to-month.

Stack Mastercard

The Stack Mastercard is technically a prepaid card, but it's an excellent option for travellers or online shoppers. It's one of the few prepaid cards with no foreign exchange fees, and has no annual fee. This tool of digital-first banking is well-suited to the modern traveller or online shopper, thanks to its useful app and lack of fees. Remember that choosing a credit card should be a decision suited to your spending habits, lifestyle, and credit score. Consider not only the lack of foreign exchange fees but also points, rewards, annual fees, and APR. The most significant benefit may often come from cards requiring an annual fee, but it depends on how often and where you use your card. Foreign expenditure does not have to be a game of hidden fees and charges. With these credit cards, you can shop with global freedom.