Are there any Canadian credit cards available that don't have an extra foreign transaction fee of 2.5%?

Question

I have noticed that Canadian VISA and MasterCard credit card companies alike charge a 2.5% extra fee on all foreign transactions for Canadians using their credit cards outside North America. In the US, CapitalOne cards charge no fees and absorbs the 1% fee presented by MasterCard. The Canadian CapitalOne Cards, however, do not offer this. Does anyone have or know of any Canadian credit cards that have less than a 2.5% extra foreign exchange fee. I have already spoke to a few companies (TD, Citibank, CapitalOne, MBNA, ScotiaBank...) and seem to be getting the same 2.5% response. And whats with the lack of competition between Canadian credit card companies that allows for the lot of them to levy such a stupid fee? (But thats a question for another time...)

Answer 1

You can see if http://www.CanadianCreditCards.org has the answer to your question about Canadian Credit Cards.