Best U.S. Dollar Credit Cards In Canada For 2025
The best credit cards for Canadians who shop in USD and want to save on fees.
The CIBC U.S. Dollar Aventura Gold Visa Card is the best U.S. dollar credit card in Canada, though there are a few high-quality options to choose from. If you often shop in the U.S. or travel across the border, having a card like this can save you money and make spending much easier.
While many Canadian credit cards offer low or no foreign exchange fees, a true U.S. dollar credit card is designed specifically for those who spend regularly in this currency. It will help you avoid foreign transaction fees while letting you pay directly in U.S. currency.
The information below reviews the top options in Canada and highlights the key details you need to choose the right U.S. dollar credit card for your lifestyle.
Key Takeaways
- Since U.S. dollar credit cards process transactions in USD, you’ll have to pay the card with a USD bank account.
- USD credit cards charge modest annual fees, but potential rewards can offset the cost.
- Although you won’t be charged a foreign exchange fee for U.S. purchases, you’ll still be charged the fee when using the card abroad.
- A U.S. dollar credit card transacts in U.S. dollars, while a card with no foreign exchange fee simply skips the usual FX fee.
Best U.S. dollar credit card in Canada
We’ve made it simple to compare the best U.S. dollar cards in Canada. Take a look at the cards below:
| Credit card | Annual fee | Rewards |
|---|---|---|
| CIBC U.S. Dollar Aventura Gold Visa Card | US$35 | * 1 point for every $1 spent on travel through CIBC Rewards, 1 point for every $2 spent everywhere else |
| Meridian Visa US Dollar Card | US$65 | * 1 point per $1 spent on all purchases |
| BMO U.S. Dollar Mastercard | US$49 | * None |
| RBC U.S. Dollar Visa Gold | US$65 | * 1 point per $1 spent on all purchases |
| TD U.S. Dollar Visa Card | US$39 | * None |
Here’s how the top U.S. dollar credit cards compare in terms of average earn rate:
1. CIBC U.S. Dollar Aventura Gold Visa Card
The CIBC U.S. Dollar Aventura Gold Visa Card is our pick for the best U.S. dollar credit card in Canada. If you make frequent online purchases or trips to the U.S., you’ll earn great rewards that can be redeemed for flights, travel, statement credits, CIBC financial products, and merchandise.
Why we like it:
- Includes 4 types of insurance
- Earns up to 1 point for every $1 spent on travel through CIBC Rewards, 1 point for every $2 spent everywhere else
- Welcome bonus of up to 2,500 points
Things to consider:
- Annual fee of US$35
2. Meridian Visa US Dollar Card
One of the very best U.S. dollar credit cards in Canada is the Meridian Visa US Dollar Card.
While most U.S. dollar credit cards don’t have many frills or benefits, this card definitely sets itself apart by giving you 1 point per $1 spent on all purchases (in U.S. dollars, of course). You can redeem your rewards for travel, merchandise, or gift cards.
Why we like it:
- Earns up to 1 point per $1 spent on all purchases
- Includes 8 types of insurance
Things to consider:
- Somewhat high annual fee of $65
3. BMO U.S. Dollar Mastercard
Although the BMO U.S. Dollar Mastercard doesn't offer much in terms of fancy features (or even rewards), it does have basic insurance – it includes extended warranty and purchase protection insurance – and gives you a way to avoid the annual fee.
All you have to do is make US$3,000 in annual purchases, and the typical US$49 will be waived.
Why we like it:
- No annual fee if you spend at least $3,000 per year
Things to consider:
- No rewards on purchases
4. RBC U.S. Dollar Visa Gold
If you travel often, you’ll appreciate the insurance and rewards that come with the RBC U.S. Dollar Visa Gold card. You’ll also have the opportunity to earn bonus points by shopping at select retailers. Redeem your points for merchandise, gift cards, travel rewards, and financial products with RBC.
Why we like it:
- Earn up to 1 point per $1 spent on all purchases
- Welcome bonus of up to $30
- Includes 8 types of insurance
Things to consider:
- Relatively high annual fee of US$65
- High credit score needed to qualify
5. TD U.S. Dollar Visa Card
If you’re already a TD customer, you might appreciate the convenience of getting a U.S. dollar card through TD. Their U.S. Dollar Visa Card is pretty standard – you’ll get insurance and the ease of making payments, but you won’t earn rewards, and there is an annual cost to carry the card.
Why we like it:
- Enhanced security features
- Discounts on car rentals and rental car insurance
- 7 types of insurance included
Things to consider:
- Annual fee of US$39
- No rewards offered
Compare top U.S. dollar credit cards by Genius Rating
To determine our Genius Ratings, we examine over 126 features of each credit card, broken into seven main categories. We give extra weight to fees, insurance, and rewards categories since we’re focusing on U.S. dollar credit cards, and it’s these features that can really make a card stand out.
We then run them through our algorithm, which generates a Genius Rating score out of five.
Here’s how the top U.S. dollar cards compare when arranged by Genius Rating:
Learn more about our Genius Rating methodology
How U.S. dollar credit cards work
Rather than receiving a transaction in U.S. dollars, and converting it to Canadian dollars on your credit card statement, a U.S. dollar credit card does everything in American dollars.
This also means that you must pay your bill in U.S. dollars.
To make this work, you need a USD bank account (which the big banks all offer) and a source of funding for it. You can use American dollar income or convert Canadian dollars to send to your U.S. account – but remember, that comes with currency exchange fees.
Can a Canadian get a U.S. credit card?
Many Canadians wonder if they can get a U.S. credit card, and the answer is yes – but it often requires taking a few extra steps.
American banks typically require applicants to have a Social Security Number (SSN), which is similar to a Canadian Social Insurance Number (SIN), or an Individual Taxpayer Identification Number (ITIN). You'll also need a U.S. mailing address.
Credit card companies also sometimes require you to have a bank account from a U.S.-based institution, simply to make payments easier.
If you decide a U.S. credit card is right for you, taking these steps can make the process a bit easier:
- Apply for an SSN and/or ITIN
- Set up a U.S. mailing address
- Open a U.S. bank account to handle payments
- Apply directly through a U.S. bank or financial institution that issues credit cards to non-residents.
U.S. dollar credit card pros and cons
We’ll cut to the chase: there are more drawbacks than advantages when it comes to U.S. dollar credit cards. But we’ll let you weigh the pros and cons and decide for yourself.
- You’ll save on currency conversion from Canadian to U.S. dollars. If you frequently make a lot of purchases in USD (and you’re making money in USD), it makes a lot of sense to have one of these credit cards. You'll save big time on currency conversion rates, whether through a bank or with a credit card.
- U.S. credit cards in Canada generally have low annual fees. U.S. dollar credit cards tend to have fees ranging from $35 to about $65 per year. If you spend enough on your BMO USD credit card, they’ll waive the fee.
- You’ll have little choice when choosing a card. There's a very limited selection of these credit cards, and they're all offered by the big banks. This means you might be at the mercy of the bank’s policies or fees.
- U.S. dollar credit cards usually have poor rewards. Many of the U.S. dollar credit cards we track offer no rewards, and those that do are pretty meagre, considering the annual fee.
- You'll need a U.S. dollar bank account. To avoid currency conversion fees, you must have a U.S. dollar bank account when making payments on your card. Otherwise, you’ll be paying a fee each time you convert money from your Canadian chequing account.
- There are no fee-free options. The annual fees aren’t high, but they’re still fees. That said, the BMO U.S. Dollar Mastercard waives the typical US$49 fee when you spend more than US$3,000 on the card every year, and the Meridian Visa US Dollar Card is waiving their $65 fee for the first year.
- You’ll pay currency conversion fees on CAD purchases. If you use the card to make purchases outside of U.S. dollars, you’ll pay a 2.5% conversion fee – even in Canada. If you get a U.S. dollar credit card, use it exclusively for USD purchases.
U.S. dollar credit cards vs. credit cards with no foreign exchange fees
A U.S. dollar credit card does its transactions in U.S. dollars, while a credit card with no foreign transaction fees skips the typical foreign exchange fee of 2.5%.
We’ve already mentioned that to make a U.S. dollar card worthwhile, you’ll need a U.S. dollar bank account to pay the bill from.
With no-FX-fee cards, though, your purchases will be converted to Canadian dollars and you’ll be able to pay your bill from your Canadian account, which can be far more convenient.
| U.S. Dollar credit cards | Credit cards with no foreign exchange fees | |
|---|---|---|
| Best suited for | * People who make frequent USD purchases or often travel to the U.S. * People who have USD bank accounts | * People who occasionally make purchases in foreign currencies * People who prefer to pay their credit card bills in CAD |
| Advantages | * Avoids the standard 2.5% foreign exchange fee for USD purchases * Avoids fluctuating currency conversion rates | * Avoids the standard 2.5% foreign exchange fee for all foreign currency purchases * Allows you to pay with CAD |
| Considerations | * Must make payments in USD (so you must have a USD bank account) * Might charge annual fees in USD | * Exchange rates for transactions can fluctuate * May offer fewer rewards than some USD credit cards |
Currency conversion fees vs. foreign transaction fees
These two terms are closely related. Sometimes, you’ll see currency conversion fees grouped with foreign transaction fees, but they are different:
- A currency conversion fee is charged when you make a purchase in a currency other than your primary currency (we'll use Canadian dollars as an example). Most credit cards charge 2.5% on top of the USD charge to convert the charge from USD to CAD every time you make a purchase in U.S. dollars.
- A foreign transaction fee is a charge that’s tacked onto a purchase made in a foreign country. So, if you bought something just south of the border, you may be hit with a foreign transaction fee. This may also apply if you use a foreign ATM.
Should you get a U.S. dollar credit card?
Most Canadians probably don’t need a U.S. dollar credit card, but one could be beneficial if you:
- Frequently travel to the U.S.: Using a USD credit card can help you avoid foreign exchange fees and simplify your budgeting (assuming you also pay the card in USD).
- Shop online in USD: If you frequent American online shops, you can save on currency conversion fees by paying with a USD credit card.
- Winter down south: Snowbirds who spend extended periods in the U.S. would certainly find a USD card beneficial to save on conversion fees and better manage expenses.
Before you apply, consider annual fees, credit score requirements, and your spending habits to ensure that the benefits of the card are worth what it costs you to hold it.
Alternatives to U.S. dollar credit cards
If a USD credit card isn’t your preferred form of payment, here are a few ways to save on cross-border transactions:
- Use a no foreign exchange fee credit card: Most credit cards charge around 2.5% for each transaction in a different currency (including USD). However, these cards don’t charge for foreign currency transactions, making them valuable if you frequently travel around the world.
- Open a U.S. bank account and sign up for one of their credit cards: This option only makes sense if you can provide proof of an American address and have a valid Social Security Number.
- Open a Canadian-based U.S. bank account: Yes, you can open a U.S. account with your Canadian bank. Most allow you to spend in U.S. currency with your debit or credit card.
- Transfer one large sum of money at a time: Instead of getting dinged with a 2.5% foreign exchange fee on every purchase, go to the bank and exchange enough cash to cover the cost of your trip, altogether avoiding your credit card's exchange fees.
How to get a U.S. credit card in Canada
Applying for a U.S. dollar credit card is no different than applying for any other Canadian credit card.
Although eligibility requirements might vary between banks and the cards themselves, you must be a resident of Canada and have reached the age of majority in your province or territory.
FAQ
Can I get a U.S. dollar credit card in Canada?
Yes, you can apply for a U.S. dollar credit card as long as you meet the requirements. Eligibility typically requires being a resident of Canada and reaching the age of majority, along with a specific credit score requirement.
Is it worth having a U.S. credit card in Canada?
For most Canadians, the answer is no. However, it may make financial sense if you frequently make purchases in U.S. dollars, travel to the U.S. often, have an American bank account, or receive payments in U.S. dollars.
Is there a U.S. dollar card for businesses?
Yes, there are a handful of U.S. dollar credit cards that are well-suited to Canadian businesses. There's a business version of the Scotiabank Scotiabank US Dollar Visa Card, though it requires you to have a US Dollar Business account.
Which Canadian banks offer U.S. credit cards?
The big banks, including BMO, RBC, TD, and CIBC, all offer this type of card. Credit unions and online banks often offer them too – Meridian provides a valuable option with its Meridian Visa US Dollar Card.
Can Canadian citizens get U.S. credit cards?
It's possible, but Canadians who want a U.S. credit card from an American bank must show proof that they have an American address, an American bank account, and a Social Security Number (not a Social Insurance Number).
Do I need a U.S. address to get a USD credit card?
Not necessarily. Several banks offer USD credit cards specifically for Canadians, but if you’re applying for a USD credit card from a U.S. bank, you’ll need to have a U.S. address and Social Security Number.
Editorial Disclaimer: The content here reflects the author's opinion alone. No bank, credit card issuer, rewards program, or other entity has reviewed, approved, or endorsed this content. For complete and updated product information please visit the product issuer's website. Our credit card scores and rankings are based on our Rating Methodology that takes into account 126+ features for each of 227 Canadian credit cards.
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