You may recall our post from August 2011 asking whether Canadian Credit Card Foreign Exchange Fees would begin to disappear like they have in the U.S.. To the best of our knowledge no cards were offering zero foreign transaction fees other than a private contract that American Express signed with the Government nor was this feature on the card issuers radars until now.
Thanks to an anonymous comment on our post on Foreign Exchange fees we are pleased to let all of our readers know that there is now one card in Canada that has no foreign transaction fees. The Amazon.ca Rewards Visa from Chase has broken the mold and I am predicting it won’t be too long until we start seeing some other cards do away with these expensive fees. The card itself may not be that appealing to our travel rewards crowd and outside of the no forex fee the card is quite weak but do I think the significance of this news warrants this post to let all of you know