Overall rating
First year value
$0
Get this card if you:
- frequently travel to the US
- want to avoid any foreign transaction fees
- value purchase protection and extended warranty coverage
Scores by category
Travel 2.5
Cash Back 0.0
Highlights
$49
Annual fee
Annual fee in USD, rebated the following year if you spend $3,000 USD in one year on your card
Interest Rates
20.99%
Purchase APR
22.99%
Balance transfer APR
21.99% for Quebec residents
22.99%
Cash advance APR
21.99% for Quebec residents
Eligibility
Very Good
Recommended credit score
$15,000
Required annual personal income
Quick overview of the BMO U.S. Dollar Mastercard
The BMO U.S. Dollar Mastercard®* is made for people who are often dealing in U.S. dollars, helping them save on foreign transaction fees.
So, if you shop online on American sites or travel often to the United States, it’s a solid solution. But, it doesn’t offer any rewards for your spend, and you’ll need a USD bank account to pay off your credit card bills. In other words, you’ll likely also want to get BMO’s U.S. Dollar Primary Chequing Account (don’t worry, it’s free).
Who is the BMO U.S. Dollar Mastercard best suited for?
The card is ideal for frequent flyers and travellers to the U.S. or if you’re often shopping on sites that operate in the U.S. and ship to Canada. You’ll need a good credit score to qualify.
Pros and cons of BMO U.S. Dollar Mastercard
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.
BMO U.S. Dollar Mastercard welcome bonus
- Currently, there is no welcome bonus for BMO U.S. Dollar Mastercard®*.
Earn rate
- BMO U.S. Dollar Mastercard®* does not offer a points accumulation system or cash back rewards.
Key benefits
- Savings on foreign transactions: You forgo the foreign transaction fee for purchases made in the U.S.
- Annual fee Rebate: Annual fee in USD, rebated the following year if you spend $3,000 USD in one year on your card
- Ease of use: BMO U.S. Dollar Mastercard®* is widely accepted, making it a convenient option for travel or online shopping in the U.S.
BMO U.S. Dollar Mastercard insurance coverage
- Extended warranty: 1 year
- Purchase protection: 90 days
Extras
- Add an additional cardholder for free.
- Fraud alerts on your smartphone that keep on eye on suspicious activity.
- You can pay extra to add-on roadside assistance.
How the BMO U.S. Dollar Mastercard compares
$0
First Year Value
$0
Annual Value
Get this card if you...
-
travel to the US often and want to avoid paying an fx fee
-
want basic insurance benefits
-
want to avoid paying a high annual fee
Annual Fee & Annual Interest Rates
$39
Annual Fee
19.99%
Purchase
22.99%
Cash Advance
-
Our Take
The TD U.S. Dollar Visa Card is designed for Canadians who frequently make purchases in U.S. dollars, allowing them to avoid foreign transaction fees by paying directly in U.S. currency. This card is particularly beneficial for those with U.S. dollar income or expenses, such as snowbirds or online shoppers, offering the convenience of paying in U.S. dollars without currency conversion hassles.
TD U.S. Dollar Visa* Card ReviewEligibility
Good (620 - 670)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
-
Pros
-
No foreign currency conversion rates and fees.
-
Insurance coverages for travel and shopping.
-
Digital wallet compatibility with Apple Pay and Samsung Pay.
-
Option to waive the annual fee with the TD Borderless Plan.
Cons
-
$39 annual fee.
-
No reward points or cashback.
-
-
Annual Interest Rates
19.99%
Purchase
22.99%
Cash Advance
Fees
$39
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
-
Rewards
N/A
There are no reward offerings with this card.
Insurance Benefits
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
Our Take
The TD U.S. Dollar Visa Card is designed for Canadians who frequently make purchases in U.S. dollars, allowing them to avoid foreign transaction fees by paying directly in U.S. currency. This card is particularly beneficial for those with U.S. dollar income or expenses, such as snowbirds or online shoppers, offering the convenience of paying in U.S. dollars without currency conversion hassles.
TD U.S. Dollar Visa* Card ReviewEligibility
Good (620 - 670)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
No foreign currency conversion rates and fees.
-
Insurance coverages for travel and shopping.
-
Digital wallet compatibility with Apple Pay and Samsung Pay.
-
Option to waive the annual fee with the TD Borderless Plan.
Cons
-
$39 annual fee.
-
No reward points or cashback.
Annual Interest Rates
19.99%
Purchase
22.99%
Cash Advance
Fees
$39
Annual Fee
$2.5
Foreign Transaction
3.00%
Balance Transfer
Rewards
N/A
There are no reward offerings with this card.
Insurance Benefits
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
BMO US Dollar Mastercard®* vs. TD US Dollar Visa Card
The TD U.S. Dollar Visa has a $39 USD annual fee (which you can waive with the TD Borderless plan chequing account). Like the BMO U.S. Dollar Mastercard®*, there are no rewards, but the TD card includes travel accident, rental car and trip interruption insurance.
Unless you’re a long standing BMO customer, it might be worth it to switch for the insurance alone.
$0
First Year Value
$0
Annual Value
Get this card if you...
-
frequently travel to the US
-
want to avoid paying an fx fee on USD purchases
-
want insurance benefits
Annual Fee & Annual Interest Rates
$65
Annual Fee
20.99%
Purchase
22.99%
Cash Advance
-
Our Take
The RBC U.S. Dollar Visa Gold Card is tailored for Canadians who frequently make purchases in U.S. dollars, enabling them to avoid foreign transaction fees by billing transactions directly in USD. Cardholders earn Avion points and benefit from comprehensive travel insurance, including trip cancellation and interruption coverage, as well as rental car insurance.
RBC U.S. Dollar Visa Gold ReviewEligibility
Good (620 - 670)
Recommended Credit Score
-
Pros
-
Avoid foreign transaction fees for USD purchases
-
Earn points in the RBC Avion rewards program
-
Extensive insurance protections
Cons
-
Rewards are limited versus other reward credit cards
-
Payment required in USD
-
-
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
Fees
$65
Annual Fee
$2.5
Foreign Transaction
5.00%
Balance Transfer
-
Rewards
1
Avion point for every US dollar you spend
3₵
Save 3₵ per litre at Petro-Canada when you connect your RBC credit card to your Petro-Points account
Insurance Benefits
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
Our Take
The RBC U.S. Dollar Visa Gold Card is tailored for Canadians who frequently make purchases in U.S. dollars, enabling them to avoid foreign transaction fees by billing transactions directly in USD. Cardholders earn Avion points and benefit from comprehensive travel insurance, including trip cancellation and interruption coverage, as well as rental car insurance.
RBC U.S. Dollar Visa Gold ReviewEligibility
Good (620 - 670)
Recommended Credit Score
Pros
-
Avoid foreign transaction fees for USD purchases
-
Earn points in the RBC Avion rewards program
-
Extensive insurance protections
Cons
-
Rewards are limited versus other reward credit cards
-
Payment required in USD
Annual Interest Rates
20.99%
Purchase
22.99%
Cash Advance
Fees
$65
Annual Fee
$2.5
Foreign Transaction
5.00%
Balance Transfer
Rewards
1
Avion point for every US dollar you spend
3₵
Save 3₵ per litre at Petro-Canada when you connect your RBC credit card to your Petro-Points account
Insurance Benefits
$500,000
Travel accident insurance amount
$65,000
Rental car insurance amount
BMO US Dollar Mastercard®* vs. RBC US Dollar Visa Gold
The RBC U.S. Dollar Visa Gold card charges as $65 USD annual fee, but it rewards you with 1 Avion point for every U.S. dollar spent and provides insurance coverage:
- Travel accident insurance up to $500,000per covered person (applicant, applicant’s spouse, dependent child, additional cardholder).
- Trip cancellation and interruption insurance up to $2,500 each for all covered persons per trip.
- Delayed baggage insurance $500 max.
- Rental car insurance for up to $65,000CDN.
For snowbirds, the RBC U.S. Dollar Visa Gold is a great alternative to the BMO card thanks to the insurance—if you’re okay with the higher annual fee. You may want to get another RBC Avion card to rack up your Avion points in Canada—where you can save at Petro-Canada, Rexall and DoorDash.
However, if you’re a BMO customer, a no annual fee card may be just what you need.
Is the BMO U.S. Dollar Mastercard worth it?
If you’re a BMO customer already, it’s easy to get this card and potentially get its annual fee rebated to save money on exchange rates in the U.S. However, its lack of rewards and travel insurance should weigh heavily in your decision, even if it means overhauling your bank accounts and other credit cards.
BMO U.S. Dollar Mastercard eligibility
To be eligible for the BMO US Dollar Mastercard®* you must have a Very Good credit score and at least $15,000 of annual personal income.
FAQs
BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information
*Terms and conditions apply
Tyler Wade has worked in personal finance for over 5 years writing for brands like Ratehub, Forbes, KOHO, and now Money.ca.
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†Terms and Conditions apply.