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Last ???? Credit card with low foreign exchange.

sask.canada
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Last ???? Credit card with low foreign exchange.

Being Canadian and not having a USA bank account we are looking at taking U. S. cash and a credit card. Plus Costco will only accept Visa now and not MC. So we will have to use US cash if we do any purchasing at Costco for gas, etc. We did have a Sears (that ultimately went to BNS card) with a no commission spread on the exchange. But that is done with as BNS took the card over. So we have no need for this card anymore. Most credit cards have insurance coverage to age 70 , etc. but no grace on the commission spread on the foreign exchange. Does anyone know of a good credit card for travelling that is gentle on the exchange.

Again, thanks for suggestions.

51 replies to this topic
Reno, Nevada
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1. Re: Last ???? Credit card with low foreign exchange.

We use the United Airlines explorer card because of good exchange rates an no foreign transaction fees. We are frequent international travelers and have never had an issue with the Visa exchange rate. When traveling in a foreign country always ask for the charge to go through in the local currency and let Visa do the exchange rate. Most US credit cards also charge a "Foreign Transaction Fee" for charges outside the US. It is usually around 3% on top of your purchase.

Don't know how being Canadian with a US Credit Card will have an effect on you or if there is even a foreign exchange issue, especially since Hawaii IS the US. They will probably charge you an exchange from US dollars to Canadian dollars, but do not know if they will add a foreign transaction fee???

sask.canada
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2. Re: Last ???? Credit card with low foreign exchange.

Thanks Eddie L as I am not interested at this time for a usa credit card but maybe lucky to find a cdn credit card with a lighter spread on the foreign exchange. Thanks Eddy.

Kelowna, Canada
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3. Re: Last ???? Credit card with low foreign exchange.

I bank with TD. What I did was open a US cross border account and got their US dollar Visa. Might be an option to look at.

Naperville
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4. Re: Last ???? Credit card with low foreign exchange.

I use a CapitalOne CC. No foreign transaction fee. Many say using a CC gives the best exchange rate, so I used mine in Canada, Grand Cayman and Japan without problem. But I never checked the actual exchange rate I got. Too busy having fun! Maybe CapitalOne operates in Canada too?

ON, Canada
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5. Re: Last ???? Credit card with low foreign exchange.

Hi,

I don't have a CC that offers no fees on foreign currency transactions and I think the pickings are getting slimmer all the time for them, but here's a recent article that might be of help: https:/…

We do what Chrissy mentions, but there's a monthly fee for the U.S. account if you don't keep a minimum balance of $3000.

You're fortunate to have a CC with insurance to age 70 ... do you mind telling me which one it is? My Royal Bank Platinum Visa offers it to age 65 and after that age it provides 3 days of coverage ... just enough for a w/e trip to the U.S.

Susan

sask.canada
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6. Re: Last ???? Credit card with low foreign exchange.

I presently have Scotiagold Am Express gold card for 10 days emergency medical to age 76. I am applying for the Cuets card that our travel companions have Cuets plat or gold Rewards choice card (M/C) for 31 days emergency medical which is over 70 plus.

I have to the best of my ability inserting this website link with lots of good info.

www.rewardscanada.ca/medicalinsurance.html

Maybe I can be of help to someone. Thanks

Maui
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7. Re: Last ???? Credit card with low foreign exchange.

Remember you cannot use cash at Costco *gas* pumps. In the store, yes-but NO cash at the gas pumps. The gas pumps will take any debit or credit card though.

sask.canada
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8. Re: Last ???? Credit card with low foreign exchange.

Akamailnick, I think only Visa card. It will not accept a M/C. Hope I got this right!

Nanaimo, Canada
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9. Re: Last ???? Credit card with low foreign exchange.

Another option.... head into your local Costco, and buy gift cards! That is what my friend does here. You can't control the exchange rate that they offer though. And I have no idea how you could check that out before hand either. But you can use the gift cards at the gas tank at Costco.

Maui
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10. Re: Last ???? Credit card with low foreign exchange.

The gas pumps don't care :-). In the store, only VISA is accepted for credit card transactions.

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