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Categories . Starting on August 1, the card will have no foreign transaction fees, bringing it in line with the Scotia Passport Visa Infinite product. $499 net annual fee. AMEX® Account Protector Ultimate can protect your balance for up to $20,000 if you experience a loss like unemployment, illness or death. The annual fee is a steep $699 (though you are getting that $200 travel credit), and like most Canadian credit cards you’ll also incur foreign transaction fees if you use the card abroad. This offer is only available to new American Express Cobalt Cardmembers. First year annual fee waived; American Express Cobalt Card. The AMEX Cobalt features several categories but most of the category overlap and intersect with one another. In that case, with the Scotia card you would earn 1 point while with the Cobalt card you would earn 2.5 points (5% – 2.5% forex fee, assuming you apply the points against travel expenses). Annual fee of $120, which is waived for the first year. Since the Cobalt card doesn’t have that feature, you’re paying 2.5% more whenever you make a purchase in a foreign currency. Earn up to 15,000 bonus points! 10% cash back on all purchases + first year free. This fee, known as the Foreign Transaction Fee is charged over and above the actual exchange rate. Amex Cross-Border Fee (0.40%): This additional fee only applies to international transactions. The fee is charged monthly The American Express Cobalt has an annual fee of $120, but unlike most other cards, it charges you monthly rather than annually, so it feels more manageable. Regardless of the type of credit card, this fee is applied to all transactions. while the other part is imposed by the issuer (Citibank, Chase, etc.). The results, for me, were a bit of a mixed bag. First year annual fee waived; American Express Cobalt Card. Credit limit of $500 to $4,000. Please answer all two questions to find your Card. American Express Cobaltᵀᴹ Card Requirements. No Foreign Transaction Fees! Scotiabank Gold American Express. Send and receive international payments for your business using a simple and secure online payment platform. You may want to request a no foreign transaction fee credit card specially for this purpose. Intro APR period You won’t find a 0% intro APR period in any of these cards. That’s great if you have a lot of friends and family that you trust to responsibly use the card in order to rack up the points! If you’re looking for an international credit card, it’s best to … Amex Keyed Fee (0.30%): This additional fee only applies to keyed-in or manually-entered transactions. Despite the AMEX Cobalt charging a foreign transaction fee you would still come out ahead if the purchase was made in the 5x points category. All Categories. Additional cards are available for no additional fee. 2. That means you’ll need to spend $6,000 over the course of a year to get the full bonus of 30,000 Membership Reward Select (MRS) points, but it’s worth it since your points can be converted to hotel points or used for travel credits. Scotiabank Gold American Express. Earn up to 15,000 bonus points! No Annual Fee. The American Express Cobalt Card can get you some of the best earn rates on 2 major categories – groceries and restaurants. The Cobalt Card is also offering up to 9 supplementary cards for free! Earn up to 40,000 BMO Reward Points! You can use this rewards calculator to calculate how many points, miles, or cash back you can earn based on your spend per category. Best cash back credit card in Canada for 2 years in a row. Earn up to 30,000 Scotia Rewards points; BMO World Elite MasterCard. and Card Value Calculator. $60 fee. Cobalt: $3,000 MSR for 30k MR-S in 6 months. Winner: American Express Cobalt. That’s $439 difference in fees for only 20k pts more. Bankwest Zero Platinum card – $0 annual fee and no foreign transaction fees – great combination for annual travel and occasional use – may also suit shoppers paying their balance off each month. You can also receive two Monthly Payment ** benefits toward your balance to mark special occasions, such as marriage, retirement or birth of a child! Earn up to 30,000 Membership Rewards® points 2. 5 days ago. Platinum: $3,000 MSR for 50k MR in 3 months. Purchases made outside of Canada (or directly with some international airlines) will incur a 2.50% fee. Good: No Foreign Exchange Fees. 4% … American Express Cobalt TM Card. These cards advertise low or no fees on foreign transactions, connect to extensive international ATM networks, and, sometimes, will waive extra fees for currency conversion. Earn up to 30,000 Points; 5x on Groceries and Dining! That said, the American Express Cobalt does offer free supplementary credit cards, so it won’t cost anything to add an authorized user. That offer is the latest transfer bonus from RBC Rewards to WestJet Rewards. Foreign Currency. No Foreign Transaction Fee (FTF) Credit Cards like Chase Sapphire Preferred, Discover it, AmEx SPG, BoA Travel Rewards can save you 3% when using abroad. Most Popular. Rack up Membership Rewards with the AMEX Cobalt on your everyday spending and redeem for flights, car rentals, merchandise and more. Some of the best American Express cards with no foreign fees include Amex Platinum and Premier Rewards Gold as well as the PenFed Premium Travel Rewards card and the Amex cards affiliated with Starwood, Hilton and Delta. The good thing is credit card companies (Visa, Mastercard, Amex) tend to have extremely good exchange rates compared to banks and currency conversion outlets. Any other fees you pay beyond this will be standard fees for your account and not directly related to your Amex acceptance. Foreign transactions ran across the AMEX Gold will incur an additional 2.5% for each charge. 10% return on all purchases for 3 months ‒ until Feb 28, 2021. Interest charges, annual fees, other fees and cash equivalent transactions are not purchases and do not qualify for Membership Rewards points. Benefits Earn up to 30,000 Scotia Rewards points; BMO World Elite MasterCard. No Foreign Transaction Fee Credit Cards for Canadians; We came across this next offer somewhat late due to our vacation but for anyone who is interested, you still have a week or so to take advantage of it. by spending at least $500 monthly with the Amex Cobalt Card: Travel Credit : $200 annually $100 hotel credit annually Foreign Transaction Fees: 2.5% for purchases and ATM usage 2.5% for purchases and ATM usage Eat & Drink Bonus (per $1 spent) 3x unlimited: 5x limited to the first $30,000 spent annually: Travel Bonus (per $1 spent) 2x 2x incl. The Amex Cobalt card is interesting since the annual fee and signup bonus happen on a monthly basis. Both cards feature very similar travel insurance coverage. This offer is only available to new American Express Cobalt Cardmembers. Co- Branded Cards. Foreign Transaction Fee. Apply now: American Express Cobalt Card product rating: 5.0 stars. Transactions in a foreign currency are charged a 2.5% fee. With millennials and pretty much everyone in mind, this card offers a juicy 5% rewards rate on food and drink purchases, 2% on travel and 1% for all your other spending. This may not matter for many people, but it’s something to consider. Earn up to 30,000 Points; 5x on Groceries and Dining! AMEX, unfortunately, does not have a similar feature for its cards. All Categories. That means you and … Get the first year free, saving you $120. If you’re looking to consolidate your debt or carry a large purchase interest-free for a long period, look for 0% intro APR cards. Amex Interchange Rates With A Direct Agreement . One major difference between the card is the no foreign transaction fees that the Scotiabank Gold Amex has. Fees. They both feature flight delay, car rental coverage and lost and stolen baggage. Like most of the recent offers for this conversion, it is once again a 15% bonus. No Annual Fee. All Cards. Why don't you try looking at the rates and fees table for your card... it has to be there. Earn up to 40,000 BMO Reward Points! The final major boost to the Scotia Gold Amex is the elimination of the 2.5% foreign transaction fees on the card. Business. There’s more to it then that but it’s a high level overview when comparing the two cards. Conclusion. No Foreign Transaction Fees! In your first year as a new Cobalt Cardmember, earn 2,500 Membership Rewards points for each monthly billing period in which you spend $500 on your card (for a total of 30,000 points in a year). Membership Rewards® Cashback. Winner: AMEX Cobalt (but just slightly) The Scotiabank Gold American Express and the American Express Cobalt both have an annual fee of $120 for the primary cardholder, so the two cards are evenly matched in this respect. Visa and Mastercard both charge a fee of 1%. Westpac Lite Credit Card – Low 9.90% p.a. Monthly $9 card fee. purchase card with no fees for foreign transactions or late payments. Secondly, we should let you know that there aren't many that do and there is a big reason why. If this card had 0% foreign transaction fees, it could almost be a perfect offering. The American Express Cobalt card is at the top of my list of the best travel credit cards in Canada. The foreign transaction fee is composed of two parts. As we … No Foreign Transaction Fee: International purchases, whether you’re traveling abroad or shopping online from foreign merchants, won’t cost you extra with Amex Gold, thanks to its 0% foreign fee. Featured Cards. The average credit card adds 1.5% to every international charge. Authorized User Fee; Foreign Transaction Fee; AMEX Points Calculator; Bonus Categories. And many American Express credit cards charge a foreign transaction fee of 2.7%. This can be summed up with five main categories which are grocery shopping, dining, travel, transit, and gas station purchases. However, there is an Amex card with no foreign transaction fees and no annual fee: the Hilton Honors American Express Card (see rates & fees). That said, I can’t imagine why the foreign currency rates that AMEX uses would be drastically different from Mastercard/Visa, so if you enter the relevant foreign currency transaction fee for your AMEX you should get a figure that’s not too far off. Annual fee. Amex foreign transaction fees apply when you buy things abroad OR shop at foreign merchants online. Travel. 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