If you frequently travel abroad or purchase items from foreign retailers, you’ll be happy to learn there are now credit cards with no foreign transaction fees. Most cards charge you 2.5% on top of the currency conversion rate on foreign purchases, but earlier this year Chase introduced a line of cards to Canada that convert currency for free.
The cards are the Sears Financial Voyage MasterCard, Amazon.ca Rewards Visa, and Marriott Rewards Premier Visa. The Sears card has a $39 annual fee, while the Marriott card charges $120 after the first year. However, Patrick Sojka, CEO of the Frequent Flyer Bonuses Group, says he likes the Marriott card because the cardholder receives free hotel stays.—Deanne Gage