The Best Credit Cards for Frequent Cross-Border Shoppers

If you frequently shop across the border or online in a foreign currency, you might be overpaying without even realizing it.

Foreign transaction fees, exchange rate markups, and reward inefficiencies can add up fast.

• What This Guide Covers:
  • How to avoid foreign transaction fees
  • Credit cards with the best exchange rates
  • Top cards for cashback, travel rewards, and perks when shopping abroad

Why Cross-Border Shoppers Need the Right Credit Card

• The hidden cost of foreign transaction fees: Most credit cards charge 2.5% per purchase when spending in a foreign currency. That adds up over time.
• Dynamic currency conversion scam: Some merchants offer to convert purchases into your home currency, this is usually a ripoff with worse exchange rates.
• Rewards optimization: Some cards earn more points on foreign purchases or come with perks that benefit frequent border travelers.

---

The Best Credit Cards for Cross-Border Shopping

No Foreign Transaction Fee Cards

These credit cards eliminate the 2.5% foreign transaction fee, making them ideal for shopping abroad.

Best No FX Fee Cards for Canadians

• Scotiabank Passport Visa Infinite
  • No foreign transaction fees
  • Earns Scotia Rewards points (convertible to travel)
  • Lounge access for frequent cross-border travelers

• Scotiabank Gold American Express
  • No FX fees
  • 5x points on groceries, dining, and entertainment (great for U.S. purchases)
  • Strong travel insurance, including trip cancellation and rental car coverage

• Wealthsimple Cash Card (Alternative Non-Credit Card Option)
  • No foreign transaction fees
  • Works like a debit card but earns 1% back in cash, stocks, or crypto
  • No credit check required

High Cashback & Reward Cards That Offset FX Fees

Some Canadian credit cards charge foreign transaction fees but offer high cashback or points that make up for the extra cost.

• Rogers World Elite Mastercard – 1.5% cash back on U.S. purchases (partially offsets the 2.5% FX fee)

• Neo Financial Credit Card – Customizable cashback categories, including online shopping
• American Express Cobalt – 5x points on dining & groceries (including U.S. purchases at some locations)

---

Travel-Friendly Perks for Cross-Border Shopping

• Lounge Access – Great for those flying across the border often (Amex Platinum, Scotiabank Passport Visa Infinite).
• Travel Insurance – Covers trip interruptions, rental car insurance, and extended warranties.
• Purchase Protection & Extended Warranty – Helps when buying electronics or expensive items.

---

How to Optimize Your Credit Card Strategy for Cross-Border Shopping

• Use a no-FX fee card for U.S. or international purchases.
• If using a cashback card, make sure the cashback outweighs the FX fee.
• Pay in the local currency to avoid dynamic currency conversion.
• Use a U.S. credit card if possible (Canadians can get U.S. credit cards via ITIN or cross-border banking).

---

Conclusion

• If you shop across the border frequently, using the wrong credit card could cost you hundreds per year.
• The best strategy is to use a no-FX fee card or a cashback card that offsets the cost.
• Choosing the right card ensures you keep more money in your pocket while earning rewards.