![]() ![]() That’s not the kind of rewarding spending we discuss in the points and miles world!Ĭomparatively, if the traveler puts that $1,000 of spend on the HSBC World Elite Mastercard, they will earn 2,000 HSBC Rewards points worth $10 when redeemed as a statement credit against travel. Factoring in the 2.5% foreign exchange fee of $25, this traveler came out $5 behind. They would earn 1,000 Avion points worth about $20, depending on how you redeem them. Let’s say a traveler uses the ever-popular RBC Avion Visa Infinite card to pay for $1,000 CAD of uncategorized spending while abroad. For every $1,000 spent, $25 will be charged over and above the goods and services purchased. The first step is understanding how much a user is charged in easy-to-understand terms. However, it can be staggering if we do the math compared to a card that does not have these 2.5% fees. How Much Will I Lose to Foreign Exchange Fees on an International Transaction?Īt first glance, a 2.5% fee on each transaction may not seem like a big deal. ![]() These fees almost exclusively come in 2.5% denominations and quickly erase any value earned from spending on most cards, which makes avoiding them easily profitable. Is my no foreign transaction fee credit card accepted in all countries worldwide?įoreign Exchange fees, or FX fees, occur when we use a Canadian dollar credit card (or, god forbid, debit card) to pay for something in a foreign currency.Why would I use a no foreign transaction fee credit card instead of cash when traveling?. ![]() What will the foreign exchange rate be for my transaction?.When making a transaction, should I choose to pay in the local currency or in Canadian Dollars?.Are credit cards with no foreign exchange fees worth it?.No Foreign Transaction Fee Credit Cards in the United States.Best Canadian Credit Cards with No Foreign Transaction Fees.Is Signing Up for a No Foreign Transaction Fee Credit Card Worth It?.How Much Will I Lose to Foreign Exchange Fees on an International Transaction?. ![]()
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