If you do a lot of transactions in U.S. dollars, a U.S. dollar credit card can help you avoid currency conversion fees. Alberta residents might want to take a look at the ATB US Dollar Mastercard.

Pros of the ATB US Dollar Mastercard

Here are 2 pros to the ATB US Dollar Mastercard.

1. No currency conversion fees on U.S. dollar purchases

With U.S. dollar credit cards, you don't pay the typical 2.5% foreign transaction fee. But there's a catch: to avoid that fee, you must pay your credit card bill in U.S. dollars from a USD bank account. Since everything happens in USD, there’s no currency conversion fee.

If you make purchases in any other currency, including Canadian dollars, you'll pay that 2.5% fee.

2. Customize your credit card design

Most ATB credit cards offer the unique feature of allowing you to choose what design goes on your credit card. There are 80 designs for you to choose from.

Cons of the ATB US Dollar Mastercard

Here are a few things to think about.

1. Only available to residents of Alberta

ATB credit cards are only available to residents of Alberta. If you don't live in Alberta, you won't be able to get this card.

2. No rewards on purchases

You won't be able to earn rewards on the purchases you make with the ATB US Dollar Mastercard. This is the case with many U.S. dollar credit cards.

3. No insurance included

This card doesn’t include any kind of credit card insurance. If this is something you value, you'll have to look elsewhere.

Other U.S. dollar credit cards in Canada

When it comes to U.S. dollar credit cards in Canada, the pickings can be a little slim.

One alternative is the BMO U.S. Dollar Mastercard. Here are the key points:

• No rewards
• 2 types of insurance
• Annual fee of US$49 – waived if you spend $1,000 per year on the card

If you don’t have large amounts of U.S. dollars or just want to save the typical 2.5% fee on any currency, consider getting a credit card with no foreign transaction fees instead. You’ll avoid the fee and can pay your bill from any Canadian bank account.

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FAQ

What is a U.S. dollar credit card?

A U.S. dollar credit card allows you to avoid foreign conversion fees on purchases made in USD. You must pay your bill in U.S. dollars from a U.S. dollar bank account.

What is the annual fee of the ATB US Dollar Mastercard?

The ATB US Dollar Mastercard has an annual fee of US$19 and has no income requirements.

What benefits does the ATB US Dollar Mastercard offer?

Besides saving on foreign exchange fees on purchases made in U.S. dollars, there aren't any other benefits to the ATB US Dollar Mastercard.