Save Money on CAD/USD Exchange Rates

A little known fact is that the banks that issue credit cards usually have an inflated foreign exchange rate. For many cards, like the Canadian Tire Options card, for example, that rate is 2.5% on top of the MasterCard exchange rate. So for us Canadians who do a lot of cross-border shopping, or shopping online in US dollars, that can add up.

Can you avoid it? Yes! Last year I found the Amazon Rewards Visa, only available to Canadians. Using this card, you will only be charged the Visa exchange rate, which you can check on Visa's website, and no more.

Apart from no foreign exchange fees, it does have other perks:
  • Free $20 Amazon.ca gift card for signing up
  • 2% cash back on Amazon.ca purchases
  • 1% cash back everywhere else (only applies to Canadian dollar transactions)
  • No annual fee
Once you earn $20 in cash back, it gets applied right to your card (your bill is decreased by $20).

To sign up, click on the link below. The application takes 5 minutes and you can start using it immediately on Amazon.ca, before you even receive your card in the mail.

Make the purchases you've always been making for 2.5% less. We've found it worth it.

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