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Thread: Canadian credit cards in Canada with no foreign transaction fees save 3 to 5 percent

  1. #1
    Business Member IRUNGUNS's Avatar
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    Canadian credit cards in Canada with no foreign transaction fees save 3 to 5 percent

    We have been buried with emails asking about credit cards with no foreign transaction fees as some of you have been surcharged from your credit card provider as must as 5%. That is crazy!!!

    These 3 credit cards are offered through the HSBC bank in Canada will save you 3 to 5% on extra fees.

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    The IRUNGUNS Team
    Last edited by IRUNGUNS; 01-18-2020 at 06:24 PM.


    Flat rate shipping to Canada is 25.00USD on all accessory and ammunition orders regardless of quantities ordered. Firearms are exported to Canada at a flat rate of 25.00USD per firearm.

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  2. #2
    CGN Regular Val_C's Avatar
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    Good topic!
    Canadian credit cards usually hit consumer quite hard for the purchases in foreign currency. There is a very limited choice for Canadians for the credit cards which will not charge FX conversion fees.
    Being long enough with the credit cards industry I can say that for some people there are might be better (and cheaper) options than HSBS cards, as HSBSs are not easy to get and they also usually require annual fees.

    Personally I use and recommend the following no annual fees, no FX fees credit cards:
    BRIM Mastercard - no FX exchange fees, free i-net on Airports/Aircrafts with Boingo and 1% cashback on every purchase. My last purchase on IRG was paid with this card and exchange rate was excellent (MasterCard exchange rate with no extra fees on date of processing).
    STACK Pre-Paid Mastercard - no FX exchange fees and no credit check/hit when applied (!) as it's not a credit card, but pre-paid card.
    Home Trust Preferred VISA - no FX exchange fees.
    Last edited by Val_C; 01-18-2020 at 06:33 PM.

  3. #3
    CGN Ultra frequent flyer MapleSugar's Avatar
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    Thanks for posting this!

    I was interested in the Capitol One - Savor One card that you mentioned in this thread:

    https://www.canadiangunnutz.com/foru...nly-2099-00USD
    "Of this I am quite sure, that if we open a quarrel between the past and the present, we shall find that we have lost the future." Winston Churchill, "War Situation" speech in the House of Commons, June 18, 1940

  4. #4
    CGN Ultra frequent flyer MapleSugar's Avatar
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    Quote Originally Posted by Val_C View Post
    Good topic!
    Canadian credit cards usually hit consumer quite hard for the purchases in foreign currency. There is a very limited choice for Canadians for the credit cards which will not charge FX conversion fees.
    Being long enough with the credit cards industry I can say that for some people there are might be better (and cheaper) options than HSBS cards, as HSBSs are not easy to get and they also usually require annual fees.

    Personally I use and recommend the following no annual fees, no FX fees credit cards:
    BRIM Mastercard - no FX exchange fees, free i-net on Airports/Aircrafts with Boingo and 1% cashback on every purchase. My last purchase on IRG was paid with this card and exchange rate was excellent (MasterCard exchange rate with no extra fees on date of processing).
    STACK Pre-Paid Mastercard - no FX exchange fees and no credit check/hit when applied (!) as it's not a credit card, but pre-paid card.
    Home Trust Preferred VISA - no FX exchange fees.
    Thank you!

    It would probably be easier to get a Canadian card. Too bad that my bank doesn't offer one with no FX fees.

    It's a toss up between the Home Trust Visa and the BRIM Mastercard.

    I wonder which one consistently sets the lower foreign exchange rate?
    "Of this I am quite sure, that if we open a quarrel between the past and the present, we shall find that we have lost the future." Winston Churchill, "War Situation" speech in the House of Commons, June 18, 1940

  5. #5
    CGN Ultra frequent flyer Onagoth's Avatar
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    Rogers world elite MasterCard has a 2.5% foreign transaction fee but the cash back reward is 4% on foreign transactions
    The first principle is that you must not fool yourself and you are the easiest person to fool.

    - Richard Feynman

  6. #6
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    Quote Originally Posted by Onagoth View Post
    Rogers world elite MasterCard has a 2.5% foreign transaction fee but the cash back reward is 4% on foreign transactions
    This is a good card if you qualify. You have to make 80k a year, or 150k per household.

    The cashback is a bit annoying to use, as you need to gain a minimum of $20 before using it.

    For a free credit card, it also comes with a bunch of insurance packages.

    Can't beat free.

  7. #7
    CGN Ultra frequent flyer Onagoth's Avatar
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    Quote Originally Posted by Sadukar123 View Post
    This is a good card if you qualify. You have to make 80k a year, or 150k per household.

    The cashback is a bit annoying to use, as you need to gain a minimum of $20 before using it.

    For a free credit card, it also comes with a bunch of insurance packages.

    Can't beat free.
    Been pretty happy with it myself...$20 builds up in no time for us (buy almost everything on our card)

    I think it’s probably only a matter of time before they scale back their rewards though
    The first principle is that you must not fool yourself and you are the easiest person to fool.

    - Richard Feynman

  8. #8
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    Quote Originally Posted by IRUNGUNS View Post
    We have been buried with emails asking about credit cards with no foreign transaction fees as some of you have been surcharged from your credit card provider as must as 5%. That is crazy!!!

    These 3 credit cards are offered through the HSBC bank in Canada will save you 3 to 5% on extra fees.

    Name:  Capture.jpg
Views: 2929
Size:  67.7 KB
    Please click picture to apply for card

    Name:  Capture1.jpg
Views: 2928
Size:  63.8 KB
    Please click picture to apply for card

    Name:  Capture2.jpg
Views: 2924
Size:  61.5 KB
    Please click picture to apply for card




    The IRUNGUNS Team
    Problem is these all have annual fees.

    Which may or may not negate any cost savings as it depends on how much you buy in USD as a canadian...

  9. #9
    CGN Regular Val_C's Avatar
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    Quote Originally Posted by MapleSugar View Post
    Thank you!

    It would probably be easier to get a Canadian card. Too bad that my bank doesn't offer one with no FX fees.

    It's a toss up between the Home Trust Visa and the BRIM Mastercard.

    I wonder which one consistently sets the lower foreign exchange rate?
    Traditionally Mastercard has lower FX exchange rates than VISA. If this is the only concern, I'd have Brim. Brim also has a very nice website and smartphone app.
    Home Trust can be handy in places that would not accept Mastercard, i.e. US/Mexican Costco and for free very basic roadside assistance.

  10. #10
    CGN Ultra frequent flyer MapleSugar's Avatar
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    Quote Originally Posted by Val_C View Post
    Traditionally Mastercard has lower FX exchange rates than VISA. If this is the only concern, I'd have Brim. Brim also has a very nice website and smartphone app.
    Home Trust can be handy in places that would not accept Mastercard, i.e. US/Mexican Costco and for free very basic roadside assistance.
    Thanks again!

    BRIM sounds better except for the Costco bit. I already have BCAA so I don't need to worry about roadside coverage.

    Purchase protection is a nice touch too, if they have it.
    "Of this I am quite sure, that if we open a quarrel between the past and the present, we shall find that we have lost the future." Winston Churchill, "War Situation" speech in the House of Commons, June 18, 1940

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