Best credit cards with no foreign transaction fee in Canada for 2026
Cards whose issuer states no foreign transaction fee, ranked by 3-year value on a frequent traveller's spending. Each card shows Year 1 against every year after, so a card that's mostly its welcome bonus is easy to spot.
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Spending: Frequent traveller · $3,880/moRank these on my own spending
- #1
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.Year 1$1,255Year 2+$9553 years $3,166 after fees· pays for itself in month 1
Breakdown, earn rates and why it's ranked here
Year 1$1,255Year 2+$955Welcome or anniversary bonus$300 / $0Rewards on spending$1,075 / $1,075Fees (taken off the end)−$120 / −$120 Pays for itself in month 1 · value so far covers fees so far Year 1Year 2Year 3Earn rate by category
5xGrocGroceries5xDineDining and takeout3xGasGas and EV charging1xAirFlights1xHotelHotels and car rentals3xTransitTransit and rideshare3xStreamStreaming1xDrugDrugstores1xOnlineOnline shopping1xBillsPhone, internet and utilities1xOtherEverything elseWhy it's ranked here
- Ranked #1 of 3. By 3-year value on the frequent traveller preset's spending. Over 3 years it's worth $3,166 after fees.
- Year 1. $1,255 = welcome bonus $300 + rewards $1,075 − fee $120.
- Each year after. $955 = rewards $1,075 − fee $120.
- Against #2. Beats Scotiabank Platinum American Express by $569 over 3 years, mostly on annual fees (+$837).
Points valued at 1.00¢ each; move the "Value points as" slider above to see what they're worth transferred.
Verified Oct 16, 2026Every term and assumption - #2
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.Year 1$1,332Year 2+$5323 years $2,597 after fees· pays for itself in month 2
Breakdown, earn rates and why it's ranked here
Year 1$1,332Year 2+$532Welcome or anniversary bonus$800 / $0Rewards on spending$931 / $931Fees (taken off the end)−$399 / −$399 Pays for itself in month 2 · value so far covers fees so far Year 1Year 2Year 3Earn rate by category
2xGrocGroceries2xDineDining and takeout2xGasGas and EV charging2xAirFlights2xHotelHotels and car rentals2xTransitTransit and rideshare2xStreamStreaming2xDrugDrugstores2xOnlineOnline shopping2xBillsPhone, internet and utilities2xOtherEverything elseWhy it's ranked here
- Ranked #2 of 3. By 3-year value on the frequent traveller preset's spending. Over 3 years it's worth $2,597 after fees.
- Year 1. $1,332 = welcome bonus $800 + rewards $931 − fee $399.
- Each year after. $532 = rewards $931 − fee $399.
- Against #1. Trails Scotiabank Gold American Express by $569 over 3 years, mostly on annual fees (−$837).
- Against #3. Beats Scotiabank Passport Visa Infinite by $860 over 3 years, mostly on rewards on spending (+$857).
Points valued at 1.00¢ each; move the "Value points as" slider above to see what they're worth transferred.
Verified Oct 16, 2026Every term and assumption - #3
after fees: After the card's annual or monthly fee, and foreign transaction fees if you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime) aren't included.Year 1$746Year 2+$4963 years $1,737 after fees· pays for itself in month 1
Breakdown, earn rates and why it's ranked here
Year 1$746Year 2+$496Welcome or anniversary bonus$250 / $0Rewards on spending$646 / $646Fees (taken off the end)−$150 / −$150 Pays for itself in month 1 · value so far covers fees so far Year 1Year 2Year 3Earn rate by category
3xGrocGroceries2xDineDining and takeout1xGasGas and EV charging1xAirFlights1xHotelHotels and car rentals2xTransitTransit and rideshare1xStreamStreaming1xDrugDrugstores1xOnlineOnline shopping1xBillsPhone, internet and utilities1xOtherEverything elseWhy it's ranked here
- Ranked #3 of 3. By 3-year value on the frequent traveller preset's spending. Over 3 years it's worth $1,737 after fees.
- Year 1. $746 = welcome bonus $250 + rewards $646 − fee $150.
- Each year after. $496 = rewards $646 − fee $150.
- Against #2. Trails Scotiabank Platinum American Express by $860 over 3 years, mostly on rewards on spending (−$857).
Points valued at 1.00¢ each; move the "Value points as" slider above to see what they're worth transferred.
Verified Oct 16, 2026Every term and assumption
All values are after each card's annual or monthly fee, and foreign transaction fees when you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime or Instacart+) aren't included.
Rates, fees and offers are set by the issuer and may change. Check the issuer's terms before you apply. We don't estimate approval odds.
Values for points and miles are estimates based on published redemption valuations; actual value depends on how you redeem.
More best-of lists
The ranking in numbers
Frequent traveller preset, $3,880 a month, after fees. "~" marks estimates.
| Card | Year 1 | Year 2+ | 3 years |
|---|---|---|---|
| Scotiabank Gold American Express | $1,255 | $955 | $3,166 |
| Scotiabank Platinum American Express | $1,332 | $532 | $2,597 |
| Scotiabank Passport Visa Infinite | $746 | $496 | $1,737 |
Frequently asked questions
What are the best credit cards with no foreign transaction fee?
On frequent traveller spending ($3,880 a month), Scotiabank Gold American Express ranks first: $1,255 in year 1 and $955 a year after fees.
How were these cards picked?
Cards whose issuer states no foreign transaction fee, ranked by 3-year value on a frequent traveller's spending. The order comes from the same calculation as the comparison tool, with the same tie-breakers; commission never changes it.
Will the order be the same for me?
Only if you spend like the preset. Spending more in a card's bonus categories moves it up. Set your own numbers in the tool to see your order.
Sources
- Amex Cobalt card page
- Milesopedia points valuations, in effect since September 1, 2026
- Prince of Travel points valuations (cross-check, high end of range)
- CIBC Aventura Visa Infinite card page
- RBC Avion Visa Infinite card page
- PC World Elite Mastercard page
- WestJet RBC World Elite Mastercard page (70,000 points = up to $700 off travel)
- National Bank World Elite Mastercard page (redemption examples)
Estimates for information only; not financial advice. See how cards are ranked.