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Best US Dollar Credit Cards

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US Dollar Credit Cards

Making purchases in US dollars can leave you with the burden of foreign currency conversion fees. A US dollar credit card can eliminate this issue altogether.

What is a US Dollar Credit Card?

A US dollar credit card sets your credit card’s currency in US dollars. This means you won’t be dealing with Canadian dollars. Instead, your purchases will be made automatically with US dollars.

You can avoid high foreign currency conversion fees with a US dollar credit card. You will save a lot of money, especially when our currency is lower.

How US Dollar Credit Cards Work

When you purchase in US dollars, you will be billed in US dollars. No additional foreign currency conversion fees will be added to your bill.

Besides this, US dollar credit cards work like ordinary credit cards. You can use it for purchases in US dollars. The balance should be paid off every month to avoid interest charges.

Pros and Cons of US Dollar Credit Cards

US dollar credit cards have their benefits and drawbacks. It’s wise to consider them before applying for this card.

us dollar credit cards - comparewise

The Pros of US Dollar Credit Cards

  • Lower annual fees. Most US dollar credit cards have lower annual fees than regular credit cards. You can also find some that have no annual fee.
  • Save on foreign currency conversion fees. With a US dollar credit card, you can make purchases in US dollars. This will save you the typical 2.5% charge.

The Cons of US Dollar Credit Cards

  • Limited use. Besides making purchases in US dollars, you might not be able to use your card for much else. This shouldn’t be a problem if all you want to use your credit card for is online shopping and travel in the US.
  • Few rewards. Besides avoiding a hefty foreign currency conversion fee, US dollar credit cards don’t offer great rewards.
  • Foreign transaction fees on non-USD purchases. Since this card is meant solely for making US-dollar purchases, any charges in another currency will incur a fee.
  • Limited card options. There aren’t as many credit card providers offering US dollar credit cards. So, the choices are slimmer. Also, within these options, you might only find one or two with no annual fee.

Choosing the Right US Dollar Credit Card for You

When looking for a US dollar credit card, it's essential to choose one that will benefit you. You should consider:

  • The annual fee. Ask yourself if the annual fee is worth the perks the card provides. Also, ensure that the annual fee is realistic for you.
  • Rewards and benefits are offered. Check out the rewards program attached to the card. It may be right for you if you anticipate reaping enough rewards from the card while using it. Also, consider the benefits the credit card provider offers. Some include purchase protection while others don't.
  • Your eligibility. Look out for the eligibility requirements to ensure the card is the right fit for you.
  • The interest rates. Assess and compare the interest rates on different US dollar credit cards. Look at the purchases interest rate and the cash advance interest rate.

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Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.

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FAQs about
US Dollar Credit Cards

Who Should Get a US Dollar Credit Card?

Anyone who makes frequent purchases in US dollars when travelling or shopping online can benefit from a US dollar credit card. You’ll save some money. Also, you can take advantage of favourable exchange rates when topping up your US dollar bank account.

How Different is a US Dollar Credit Card from a No Foreign Exchange Fee Credit Card?

A no foreign exchange fee credit card waives the fee for CAD to USD conversions. As for a US dollar credit card, there won’t be currency conversions because the card is set to USD.

US dollar credit cards are more limited than no foreign exchange fee credit cards. You can only use it for purchases in US dollars. Non-USD transactions will incur a fee.

Can I Get a Credit Card from a US Bank or Credit Card Company Instead?

It may not be possible. You’d need a social security number and proof of US residency to apply at most of the US banks. Also, US banks can’t access your Canadian credit report. So it’s best to get your US dollar credit card from a Canadian bank instead.

What’s the Foreign Currency Conversion Fee on a Regular Credit Card?

Most credit cards have a foreign currency conversion fee of 2.5%. If you make a 100 USD purchase in Canadian dollars, you’ll pay $2.50 in fees. A US dollar credit card can save you this amount.

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