If you have high-volume transactions in US dollars.
US Dollar credit cards can sometimes be confused with foreign transaction credit cards, but they aren’t the same at all.
Foreign transaction credit cards save you on currency conversion fees, while US Dollar credit cards never convert currency at all keeping your currency in US funds and avoiding conversion fees.
They only make sense if you have a US Dollar bank account with a balance you can use to pay of your US card. Otherwise you’re going to have to convert your Canadian Dollars to USD first to pay off your USD credit card. Doing that is likely more expensive than just letting your CAD credit card do the conversion for you.
While most US Dollar Credit cards don’t have many frills or benefits, the RBC U.S. Dollar Visa Gold does set itself apart by also giving its cardholders 1 point for every $1 spent.
While these cards are not useful for everyone, a US Dollar Credit Card makes a lot of sense if you:
If one or more of these things are true for you, consider picking up one of these US Dollar credit cards because it could really save you in the long run.