The 5 Best USD Credit Cards for Canadians in 2021

The 5 Best USD Credit Cards for Canadians in 2021

If you’re Canadian and spend any time in the United States, you already know the costs and inconvenience of converting CAD to USD. A USD credit card for Canadians has a host of benefits. It can save on foreign transaction fees and you never have to think about the exchange rate. It’s also convenient when travelling to the US as carrying cash can be unsafe. But which Canadian bank offers the best USD credit card? Keep reading to find out the top five USD credit cards for Canadians in 2021.

1. RBC US Dollar Visa Gold

RBC US Dollar Visa Gold is a top choice among USD credit cards for Canadians because of its great travel insurance and ability to earn points. Included in travel accident coverage, trip cancellation and interruption insurance, emergency insurance, and rental car cover. The annual fee is high, but the benefits balance the cost out.

Annual fees: USD 65

Interest rates: 19.99 percent on purchases and 22.99 percent on cash advances

Benefits and rewards: Travel insurance is included in the cost of the card. Each USD 1 also earns you 1 RBC Rewards point. Spending with some retailers will get you bonus points. You can redeem the rewards for RBC vouchers, travel products, merchandise, and gift cards.

2. Scotiabank US Dollar Visa

The Scotiabank US Dollar Visa card offers a unique opportunity to get most of the items purchased with it covered by insurance. Plus, if you already bank with Scotiabank and have the Scotiacard, it’s easy to link the two cards and spend faster. The credit limit for this card is a minimum of USD 500.

Annual fees: USD 35

Interest rates: 19.99 percent on purchases and 22.99 percent on cash advances and balance transfers

Benefits and rewards: Scotiabank’s US Dollar Visa is the top card when it comes to purchasing security. As long as you charge the purchase to the card, anything you purchase worldwide is insured against damage, loss, or theft. The card also includes an extended warranty. Another benefit is that any additional cards for authorized users are free. Scotiabank also has an agreement for 20 percent off at AVIS car rental locations.

3. BMO US Dollar Mastercard

The Bank of Montreal’s BMO US Dollar Mastercard is a top-ranking American dollar card for a host of reasons. A low annual fee of USD 35 means it has the lowest fee among major USD credit cards in Canada. There’s also the possibility of not being charged an annual fee at all. All you have to do is spend USD 1,000 in a year and the bank will waive the next year’s fee.

Annual fees: USD 35. Also subject to a fee rebate, once USD 1,000 is spent in the first year.

Interest rates: 19.99 percent on purchases and 22.99 percent on cash advances

Benefits and rewards: As BMO is a special partner of Cirque du Soleil, cardholders get discounted tickets to shows in both Canada and south of the border in Las Vegas. The bank also offers a free extended warranty and purchase protection. If you travel, there is emergency assistance worldwide under the GlobalAssist program, 24 hours a day. BMO also protects you from unauthorized use of the card with its Zero Dollar Liability program.

4. TD US Dollar Visa

TD Bank's US Dollar Visa Card is the top choice for those who prioritize benefits over rewards. Additional cardholders are free, and the annual fee is USD 39, which is about average among its competitor cards. The minimum credit limit is USD 1,000. A cash advance of up to USD 5,000 is also possible depending on your credit limit.

Annual fees: USD 39

Interest rates: 19.99 percent on purchases and 22.99 percent on cash advances

Benefits and rewards: The TD card includes trip interruption insurance up to USD 5,000, emergency travel assistance, delayed and lost baggage insurance and common carrier travel accident insurance. There’s a Visa Zero Liability guarantee that protects your money from unauthorized transactions. Special discounts for cardholders with the AVIS and Budget car rental companies and purchase protection and extended warranty on purchases round out the special benefits.

5. CIBC US Dollar Aventura Gold Visa

The annual fee for a CIBC US Dollar Aventura Gold Visa card is low and there are standard benefits including auto rental collision and loss insurance. There is a low minimum income requirement to get the card, only $15,000.

Annual fees: USD 35

Interest rates: 19.99 percent on purchases and 22.99 percent on cash advances

Benefits and rewards: The possibility to earn Aventura points, up to 5,000 of them depending on if the cardholder meets certain conditions. Like other Canadian credit cards in USD, there is the opportunity to get purchase security and an extended warranty for anything you buy with the card.

Overall, BMO is the winner among American dollar cards in Canada. A USD credit card works best if you have a USD account already to pay off the card with. There are also other ways to convert USD to CAD or CAD to USD. Services like Remitbee currency exchange offer a better exchange rate and no fees. Check out the website now and read our review of USD bank accounts for Canadians.

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