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Credit Card With Good Foreign Exchange Rate

kellymiller
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kellymiller

kellymiller

Posted
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Hi Ladies,

 

With the Canadian dollar being so low right now, does anyone know of a credit card with a good foreign exchange rate (particularly American)? I'm hoping to find a good one so we can save a bit of money. I current have a Visa with CIBC but have seen bad reviews about its exchange rates.

 

Thanks!

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calgarybride2015

calgarybride2015

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I don't sorry!

But I am thankful my resort charges in pesos so I can avoid that US to CDN fee :(

My photographer doesn't though but I'll suck that up.

I also plan to tip in peso but ensure it's what I would have paid in Canadian.

 

 

Sent from my iPhone using Tapatalk

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kmk2016

kmk2016

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An option is a US funds card. TD canada trust has one.... And it will save money in exchange rates for sure!! Most all banks will use same formula when calculating exchange , and it's usually horrendous. A foreign funds account/card is the way to go.

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acw271011

acw271011

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I would look at a US credit card. I know BMO has a US mastercard. There are no exchange rates with it because it's all in US dollars. Your statement is in US currency. You would only worry about the exchange when you pay it off. I think most of the banks have one so you could shop around. Some have the combination US account and credit card. I have a US dollar bank account and I get an exchange rate just a bit better than what's on the street. It's not a lot but every little bit helps considering the amount of time we spend in the US. The thing is the pundits are saying that the dollar is going to stay low now because of oil prices (which is a load of garbage but whatever) so it may just be that we have to "suck it up". When I tally it all and add 13% tax on everything I do here, since we're gong to the US anyway or Mexico as the case may be, it's still an overall savings even with the exchange.

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Smellsey

Smellsey

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I have been told to open up a US bank account and put money in there soon as the dollar is only going to get worse. I guess I would need a US visa as well. Even just paying the little amount that I have so far I have paid over $200 more. Oh... you crappy Canadian dollar! :(

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jackielemman

jackielemman

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We used our Southwest Airlines Platinum credit card and there are no fees for international charges. It was wonderful! Saved us hundreds of dollars. Not sure if you are able to get one in Canada but I would check it out!

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  • 4 weeks later...
Everly

Everly

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I ended up getting an Amazon Visa card to use for our recent Disney trip. They don't have fees when exchanging currency..just the regular exchange rate. Also no annual fee. For every $2000 spent they credit $20 to the card (or something like that).

 

It still sucks the exchange though  :o

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