Best Candian Credit Card & Debit Card for Travel



Alright let’s talk dollars and cents here for a minute. As I mentioned here, I am embarking on a three month journey traveling through South East Asia.  One of the things I have been researching is what is the best Credit Card and Debit Card to travel with as a Canadian?

As Canadians, we don’t have too many options when it comes to avoiding foreign transaction fees with most credit cards charging a 2.5-3% Foreign Currency Exchange Fee. This means every time you purchase something in a different currency, your bank charges you that 3%! Not okay. This about it this way, spend $1,000 and tack on an additional $30 in fees? No thanks.  For additional views on this, take a look at Nomadic Matt who talks about this very thing.

For many of us out there who are travelling on a budget, saving that 2.5% will help stretch our Canadian Dollar just a bit more, especially when our dollar (August 2015) is not doing so well.

Below are a few options I have found with respect to Credit Cards and Debit Cards that may help save some money on the road.   It's by far not exhaustive but are some considerations:


Name
Network
Foreign Transaction Fees
Annual Fee
Cash Advance Fee/ ATM Withdrawal Fee
Cashback/Points
Signup Bonus
CREDIT CARDS
Visa
None
$120 CAD waived for the first year
1.0% of the Cash Advance amount, minimum $5.00

no interest-free grace period for cash advances
Sign Up: 30,000 bonus points

Earn up to 5 free nights

5 points per $1 at Marriott locations

2 points per $1 on airline tickets, car rental agencies and restaurants

1 point per $1 on other purchases

Visa
None
None
1.0% of the Cash Advance amount, minimum $5.00
$ 20 Amazon.ca Gift Certificate   

2% cash back per $1 on Amazon.ca

1% cash back per $1 everywhere else

Visa
Interac
Plus
2.5%
$120
1% of Cash advance Amount or $5.00 minimum
Sign up: 25,000 points

Name
Network
Foreign Transaction Fees
Monthly Fee
Cash Advance Fee/ ATM Withdrawal Fee
Cashback/Points
Signup Bonus
DEBIT CARDS
(formerly ING Direct)
MasterCard
Cirrus
0%
(Verified by Tangerine Chat!)
None
ATM Alliance: $0
Other ATMs: $2
$50 signup bonus when you use Orange Key 44264941S1
(Until August 31, 2015 thereafter $25)
Interac
Plus
2.5%
None
$3.00 foreign ATM charge
Can redeem PC points for groceries


Again, this is by no means an exhaustive list, but provides some considerations for those who will be travelling in the near future. 
Do you have any other suggestions for zero foreign transaction fee Canadian Cards? 

1 comment :

  1. I hope you have an amazing time traveling in Southeast Asia.

    ReplyDelete

Thank you so much for your Comments! I love hearing what you have to say. It gives me inspiration and motivation to continue being here : ) XOXO - N

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