Monday, July 14, 2014

Foreign Currency Exchange Fee now on the Rewards Canada Credit Card Comparison Charts

We are pleased to announce (finally) that the Foreign Currency Exchange Fee on Canadian Travel Rewards Cards has been added to our comparison chart that compares all of the cards in one chart. The fees will also be added soon to remainder of our charts that break down the cards into select categories.

You can find that chart here:
Canadian Travel Credit Card Comparison: All Travel Rewards Credit Cards 

We have discussed foreign transaction fees quite often on Rewards Canada and in the media so if you follow us you'll know that there are only a select few cards in Canada (all from Chase) that offer no foreign exchange fee such as the Chase Marriott Rewards Premier Visa. In general however the going rate on most of the cards is 2.5% that is charged by the credit card company over and above the exchange rate. There are two banks that offer a slightly lower rate at 2%, Vancity and Citizens Bank while Alberta Treasury Branches (ATB) tops the list as the highest rate charger at 2.9%.

Why 'no foreign transaction fees' hasn't proliferated in the Canadian credit card market

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