Quick overview
Are you someone who enjoys shopping in the good ol’ US of A? Of course you do – because everything seems to be cheaper south of the border. If that sounds like you, the Scotiabank U.S. Dollar Visa Card is a solid credit card choice because it allows you to avoid currency conversion fees when shopping in the states both in person and online. The card's extended warranty and purchase protection are great perks, though its lack of rewards might be a turn off for some. The annual fee is low, and its fee-free U.S. spending make it an attractive option for those who spend a lot of money at American retailers.
Who is this card for?
The Scotiabank U.S. Dollar Visa Card is for those who spend in U.S. dollars. Simple, right? Whether you're a regular shopper at U.S. online retailers, a traveler who often visits the United States, a snowbird who splits their time between Canada and America, or a professional who earns income in USD, this card might be the secret weapon your wallet didn’t even know it needed.
Its key feature is that it does away with currency conversion fees, which can add up if you often spend in U.S. dollars. Additionally, if you're someone who manages expenses for family members or business associates, the free supplementary cards are a cost-effective perk. However, if your dealings in U.S. dollars are infrequent, or if you prioritize earning rewards and cash back, this card probably isn’t for you.
Scotiabank U.S. Dollar Visa Card pros and cons
Pros
-
No U.S. dollar conversion fee: Ideal for purchases in U.S. dollars, saving you money on currency conversion.
-
Free supplementary cards with all the same benefits at no additional cost
-
Conveniently pay your Visa statement with U.S. dollars directly from your Scotia U.S. Dollar Daily Interest Account.
-
Easy access to cash advances at over 1 million ABMs worldwide and online banking options.
Cons
-
There's a $35 annual fee, which might be a downside for some users.
-
High-interest rates compared to low-rate cards on the market
-
Unlike many credit cards, this one doesn’t offer points cash back rewards.
-
Limited insurance benefits
-
The card does not have a welcome bonus, a common feature in many other credit cards.
Welcome bonus
- Unfortunately, there isn’t a welcome bonus with this card.
How to earn points
- This card doesn’t offer a points earning system for purchases.
Key benefits
- Purchase Security and Extended Warranty Protection: Adds an extra layer of protection for your purchases.
- Car rental discounts: Save 25% off base rate at Avis and Budget locations in North America
Insurance coverage
- Purchase security: For the first 90 days past the date of purchase, should it be lost, stolen, or damaged.
- Extended warranty: Double the manufacturer’s warranty up to one year from date of purchase.
- Credit card balance protection (optional): If an unfortunate event prevents you from paying off your bill (e.g. death, critical illness, job loss), you can buy comprehensive protection at a premium rate of $1.09 per $100 per month. Those fees add up quickly, though. You might be better off with a term life insurance policy, critical illness policy, or an emergency fund.
Extras
- Save 25% off base rate at Avis and Budget locations in North America
How this card compares
BMO U.S. Dollar Mastercard®*
3.0
Very Good
Suggested credit scoreto receive the latest news, tips and offers by email
Pros
-
Savings on foreign transaction fees: Ideal for transactions in U.S. dollars, saving users the usual 2.5% foreign transaction fee
-
Annual fee rebate: The annual fee is rebated the following year if you spend US$3,000 per year.
-
Additional card options: You have the option to get additional cards for family members or employees for free.
-
24-hour, out-of-country emergency assistance with GlobalAssist™*
Cons
-
Limited rewards: No cash back or travel points.
-
U.S. dollar payments: Balances must be paid in U.S. dollars.
-
Credit score requirements: A higher credit score may be required to qualify for this card.
-
Limited insurance included: Purchase protection for 90 days and extended warranty, but no travel insurance.
Eligibility
Very Good
Recommended Credit Score
$15,000
Required Annual Personal Income
Recommended Credit Score
Very Good
Required Annual Personal Income
$15,000
20.99%
Purchase APR
22.99%
Balance Transfer Rate 21.99% for Quebec residents
22.99%
Cash Advance APR 21.99% for Quebec residents
$49
Annual Fee Annual fee in USD, rebated the following year if you spend $3,000 USD in one year on your card
0%
Foreign Transaction Fee No fx fees
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$49
Foreign Transaction Fee
0%
Pros
-
Savings on foreign transaction fees: Ideal for transactions in U.S. dollars, saving users the usual 2.5% foreign transaction fee
-
Annual fee rebate: The annual fee is rebated the following year if you spend US$3,000 per year.
-
Additional card options: You have the option to get additional cards for family members or employees for free.
-
24-hour, out-of-country emergency assistance with GlobalAssist™*
Cons
-
Limited rewards: No cash back or travel points.
-
U.S. dollar payments: Balances must be paid in U.S. dollars.
-
Credit score requirements: A higher credit score may be required to qualify for this card.
-
Limited insurance included: Purchase protection for 90 days and extended warranty, but no travel insurance.
Eligibility
Very Good
Recommended Credit Score
$15,000
Required Annual Personal Income
Recommended Credit Score
Very Good
Required Annual Personal Income
$15,000
20.99%
Purchase APR
22.99%
Balance Transfer Rate 21.99% for Quebec residents
22.99%
Cash Advance APR 21.99% for Quebec residents
$49
Annual Fee Annual fee in USD, rebated the following year if you spend $3,000 USD in one year on your card
0%
Foreign Transaction Fee No fx fees
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$49
Foreign Transaction Fee
0%
Scotiabank U.S. Dollar Visa Card Vs. BMO U.S. Dollar Mastercard
The Scotiabank card stands out for its lack of U.S. currency conversion fees, making it an excellent choice for those who frequently make purchases in U.S. dollars. This feature can lead to significant savings for regular shoppers in the U.S. or online shoppers who buy from U.S.-based retailers. Additionally, the Scotiabank card offers free supplementary cards, which is great for families or businesses needing multiple cardholders.
The BMO U.S. Dollar Mastercard is similar to the Scotiabank card. It has a slightly higher annual fee of $49, but that ca be waived when meeting spending requirements.Annual fee in USD, rebated the following year if you spend $3,000 USD in one year on your card. This card also provides extended warranty coverage and purchase protection, similar to the Scotiabank card, and it’s accepted at over 30 million locations worldwide.
*Terms and conditions apply
CIBC U.S. Dollar Aventura® Gold Visa* Card
3.0
up to 2,500 pts†
Welcome offerGood
Suggested credit scoreEarn up to 2,500 Aventura Points† and get an annual fee rebate for the first year†
Pros
-
Bypass foreign transaction fees when shopping with US retailers
-
Transfer points to other CIBC Aventura® credit card accounts
-
Modest annual fee and $0 for up to 3 additional cards
Cons
-
Limited rewards compared with the Canadian version of the Aventura® Gold Visa*
-
Because the card uses US dollars you’ll need to pay your balance in USD
-
Limited travel insurance protection
Eligibility
Good
Recommended Credit Score
$15,000
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Household Income
$15,000
1
point for every $1 spent on travel purchased through the CIBC Rewards Centre
1
point for every $2 spent on all other purchases
point for every $1 spent on travel purchased through the CIBC Rewards Centre
1
point for every $2 spent on all other purchases
1
20.99%
Purchase APR
22.99%
Balance Transfer Rate non-Quebec residents†
22.99%
Cash Advance APR non-Quebec residents†
$35
Annual Fee US - $0 for up to 3 additional cards; annual fee rebate‡
2.5%
Foreign Transaction Fee 2.5% of the transaction outside the U.S., including CA
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$35
Foreign Transaction Fee
2.5%
Pros
-
Bypass foreign transaction fees when shopping with US retailers
-
Transfer points to other CIBC Aventura® credit card accounts
-
Modest annual fee and $0 for up to 3 additional cards
Cons
-
Limited rewards compared with the Canadian version of the Aventura® Gold Visa*
-
Because the card uses US dollars you’ll need to pay your balance in USD
-
Limited travel insurance protection
Eligibility
Good
Recommended Credit Score
$15,000
Required Annual Household Income
Recommended Credit Score
Good
Required Annual Household Income
$15,000
1
point for every $1 spent on travel purchased through the CIBC Rewards Centre
1
point for every $2 spent on all other purchases
point for every $1 spent on travel purchased through the CIBC Rewards Centre
1
point for every $2 spent on all other purchases
1
20.99%
Purchase APR
22.99%
Balance Transfer Rate non-Quebec residents†
22.99%
Cash Advance APR non-Quebec residents†
$35
Annual Fee US - $0 for up to 3 additional cards; annual fee rebate‡
2.5%
Foreign Transaction Fee 2.5% of the transaction outside the U.S., including CA
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$35
Foreign Transaction Fee
2.5%
Scotiabank U.S. Dollar Visa Card Vs. CIBC U.S. Dollar Aventura Gold Visa Card
The CIBC card, like the Scotiabank card, charges a $35 annual fee, but its rewards program might make it more enticing. The CIBC card allows you to earn 1 point on on travel purchased through the CIBC Rewards Centre.
Additionally, it offers a bonus for completing certain activities with CIBC, such as adding an authorized user to the card and signing up for eStatements. This rewards system could be more appealing to those who value earning points on their spending. It also offers up to three supplementary cards for free and first year annual fee rebate.
While we don’t like to make outright recommendations, the CIBC card appears to do everything the Scotiabank card does – just a little better.
Scotiabank Passport® Visa Infinite* Card
4.3
up to 35K pts
Welcome offerExcellent
Suggested credit scoreEarn up to $1,100* in value in the first 12 months, including up to 35,000 bonus Scene+ points
Expires
Jan 3, 2025
Pros
-
No FX fees means the card saves you significant expenses on foreign transaction fees
-
Earn up to 3x Scene+ points per $1 spent on eligible purchases
-
Flexible and straightforward redemption program
-
Visa acceptance globally compared to American Express, especially outside major cities.
-
Enjoy six annual visits to airport lounges
-
Robust insurance offerings, including extended travel emergency medical coverage
-
Access to Visa Infinite Program benefits, with added advantages like a free supplementary card
Cons
-
High annual fee
-
Limited rewards categories for earning reward max rate on purchases
-
Primarily best for travel within Canada
Eligibility
Excellent
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
3x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more
2x
Scene+ points¹ for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including ride shares, buses, subways, taxis and more)
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more
3x
Scene+ points¹ for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including ride shares, buses, subways, taxis and more)
2x
Scene+ point for every $1 spent on all other eligible everyday purchases
1x
20.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$150
Annual Fee First supplementary Card is $0/year ($50/year on each additional Card)
0%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$150
Foreign Transaction Fee
0%
Pros
-
No FX fees means the card saves you significant expenses on foreign transaction fees
-
Earn up to 3x Scene+ points per $1 spent on eligible purchases
-
Flexible and straightforward redemption program
-
Visa acceptance globally compared to American Express, especially outside major cities.
-
Enjoy six annual visits to airport lounges
-
Robust insurance offerings, including extended travel emergency medical coverage
-
Access to Visa Infinite Program benefits, with added advantages like a free supplementary card
Cons
-
High annual fee
-
Limited rewards categories for earning reward max rate on purchases
-
Primarily best for travel within Canada
Eligibility
Excellent
Recommended Credit Score
$60,000
Required Annual Personal Income
$100,000
Required Annual Household Income
Recommended Credit Score
Excellent
Required Annual Personal Income
$60,000
Required Annual Household Income
$100,000
3x
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more
2x
Scene+ points¹ for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including ride shares, buses, subways, taxis and more)
1x
Scene+ point for every $1 spent on all other eligible everyday purchases
Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating Co-ops and more
3x
Scene+ points¹ for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including ride shares, buses, subways, taxis and more)
2x
Scene+ point for every $1 spent on all other eligible everyday purchases
1x
20.99%
Purchase APR
22.99%
Balance Transfer Rate
22.99%
Cash Advance APR
$150
Annual Fee First supplementary Card is $0/year ($50/year on each additional Card)
0%
Foreign Transaction Fee
Purchase APR
20.99%
Balance Transfer Rate
22.99%
Cash Advance APR
22.99%
Annual Fee
$150
Foreign Transaction Fee
0%
Scotiabank U.S. Dollar Visa Card Vs. Scotiabank Passport Visa Infinite Card
When comparing the Scotiabank U.S. Dollar Visa Card with the Scotiabank Passport Visa Infinite card, the latter emerges as a more feature-rich option, albeit with a higher annual fee of $150.
The Passport Visa Infinite card is one of the few Canadian credit cards offering 0% foreign transaction fees on purchases made in any non-Canadian currency, not just U.S. dollars. It also provides a comprehensive rewards program, earning 3 Scene+ points per dollar spent on eligible grocery stores and 2 points on eligible restaurant, entertainment and transportation purchases.
Additionally, it includes Visa Airport Companion membership with 6 free visits per year to lounges worldwide and travel insurance. This card is more suited for those who travel frequently and make diverse international transactions, while the Scotiabank U.S. Dollar Visa Card is more focused on U.S. dollar transactions specifically. If you don’t mind the cost of the Scotiabank Passport Visa Infinite, it comes with a ton of features for the frequent traveller.
- *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
Is this card worth it?
If you're someone who frequently spends in U.S. dollars, the Scotiabank U.S. Dollar Visa Card could be for you. Its standout feature is the elimination of currency conversion fees, which is particularly beneficial if you regularly shop at U.S. retailers or travel to the United States. This feature alone can save you the typical fee most Canadian credit cards charge for converting CDN to USD, potentially leading to significant savings over time. Additionally, you'll appreciate the convenience of free supplementary cards, ideal if you need additional cards for family members or business associates. The card also offers purchase security and extended warranty protections, adding an extra layer of security for your significant purchases.
However, you should be aware of the card's drawbacks. The annual fee might be a concern, especially if your U.S. dollar transactions are infrequent. Its lack of a rewards program could also be a downside if you value earning points or cash back on your spending.
FAQs
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Justin is a writer and editor who has been covering personal finance for over 10 years. He's written for companies such as KOHO, Ratehub, BMO, Zoocasa, and Questrade, among others. Justin also created a course in Content Creation, which he taught at York University for four years. When not writing, Justin can be found at a live concert, on the golf course, riding a motorcycle, or sailing.
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