The 5 Best USD Credit Cards in Canada

If you’re one of the many Canadians who enjoys shopping online or in-person at American stores, you might want to consider a USD credit card. Having such a card in your wallet can save you hundreds of dollars per year in foreign transaction fees. Credit cards with no foreign transaction fees can also be an alternative. However, if you generate income in USD, you stand to gain greater advantages by opting for a USD credit card.

1. BMO U.S. Dollar Mastercard – Best Overall

The BMO U.S. Dollar Mastercard is one of the most commonly used USD credit cards in Canada. For Canadians who regularly travel to and shop in the U.S., it offers exactly what you need. The annual fee is $35, but they’ll waive it if you spend over $1,000 USD per year. If you’re someone who does a lot of spending in the U.S., you can easily get this credit card for free. Plus, BMO offers a USD bank account, so you won’t have any problems paying your balance.

The BMO U.S. Dollar credit card doesn’t come with any reward-earning potential, but it has low eligibility requirements and a standard interest rate. You’ll also get an extended warranty and purchase protection for any items purchased using this card. If you travel to Las Vegas, you’ll be able to get 20% off resident shows with this card.

2. Rogers World Elite Mastercard – Best for Cash Back on USD Purchases

The Rogers World Elite Mastercard is technically not a USD credit card. But it can be a good thing if you don’t want the hassle of a USD chequing account. Instead, this no-fee canadian card gives you unlimited cash back on USD purchases. Its 3% cash back on all eligible purchases in U.S. dollars will soon wipe out the fees associated with currency conversion.

You’ll also receive significant cash back on other purchases, at a rate of 1.5%. Rogers offers an attractive range of insurances when you’re outside Canada. For example, the card covers you for out-of-province or out-of-country emergency medical care, and includes trip interruption and trip cancellation insurance. You’ll also receive a free subscription to Mastercard Travel Pass, giving you access to 1,300 airport lounges worldwide at a cost of $32 USD per visit.

3. RBC Visa Signature Black – Best for Low Interest Rates

This card is a great option for Canadians who love to spend American dollars and collect reward points. The RBC Visa Signature Black rewards shoppers with 1 RBC Reward point for every $1 spent and offers the benefits of Visa’s Signature concierge service, a special feature that makes travelling easier by helping you plan things like accommodations, car rentals, dinner reservations and tickets to shows and events, all of which can be redeemed with RBC points. Note that RBC offers a cross-border banking bundle including this credit card.

It also has some pretty competitive insurance plans that cover everything travel related from flight delay to travel medical insurance. Best of all, there is no annual fee, making this card accessible to almost any Canadian that needs it.

4. Scotiabank U.S. Dollar Visa Card – Best for Car Rentals

Scotiabank offers some of the best travel credit cards available to Canadians. Not only do they waive the typical 2.5% foreign transaction fees on many cards, but their USD credit card comes with some pretty sweet travel perks as well.

Available for just $35 USD per year, the Scotiabank U.S. Dollar Visa provides purchase protection and an extended warranty on all purchases. It will save you 25% on AVIS and Budget car rentals. It’s definitely worth having even if you only spend money in the U.S. a few times per year. Plus, you can add additional cardholders to the account for no extra charge and you will be able to pay your balance using your Scotia foreign currency account.

5. RBC U.S. Dollar Visa Gold – Best for Avion Points

With an annual fee of $65 USD, the RBC U.S. Dollar Visa Gold certainly isn’t cheap, but it comes with some great benefits. It’s one of the very few USD credit cards in Canada that also offers travel rewards.

For every $1 USD spent, you’ll earn 1 Avion point, which you can redeem for travel rewards or convert to other reward programs including WestJet dollars and Hudson’s Bay Rewards points. You can also use your Avion points to pay your credit card balance or other RBC financial products, get gift cards and merchandise.

The RBC U.S. Dollar Visa Gold card comes with trip cancellation insurance. This card also helps you save at Petro-Canada, Rexall and DoorDash. You could save up to save 3￠/L on fuel and earn 20% more Petro-Points, get 50 Be Well points for every $1 spent on eligible products at Rexall as well as a 3-month complimentary DashPass subscription.

This article is the shortened version of an article originally published on Hardbacon.ca by Meagen Seatter under the title The 7 Best USD Credit Cards in Canada for 2024.