Top Canadian Credit Cards to Use in USA

by John Stevenson on February 12, 2011

If you enjoy visiting the United States on a shopping spree or like to purchase goods from American companies online, you may be wondering which Canadian credit cards are the most convenient ones for this purpose. Well, the answer to this is quite simple: the best credit cards for shopping stateside are those whose accounts are in U.S. dollars. The reason is that when you use them, you avoid the high exchange rates and currency conversion fees which you would otherwise incur. Below you will find three of the top Canadian credit cards which charge in U.S. dollars and are excellent payment instruments when shopping in the States. The most important features to look at are: their annual percentage rate, grace period, requirements for successful application, global acceptance, and additional benefits.

BMO U.S. Dollar MasterCard

Besides surpassing the cost of vacillating exchange rates, with this BMO credit card you also gain the following benefits: extended warranty and purchase protection for every product you buy with the card; zero liability in case of unauthorized card use; acceptance in more than 30 million locations worldwide; and possibility for cash advances from over 1 million ATMs. If you spend 1,000 U.S. dollars or more in a calendar year, the annual fee for the next year will de rebated. The card’s Annual Percentage Rate is at 19.5 per cent, but there is a grace period of 21 days. A service fee to the amount of 25 U.S. dollars is collected every year, but as mentioned above, you can receive a discount on it.

Some of the card’s optional features include balance insurance, travel and medical protection for the holder and his or her family. If you are frequent traveler, you might look into these features.

TD U.S. Dollar Visa Card

This credit card, offered by the TD Canada Trust, charges an annual fee of 39 U.S. dollars and levies an ARP of 19.99 per cent on purchases and 21.5 per cent on cash advances. Just like with the other cards in U.S. dollars, when you use the TD Visa Card for shopping in the USA, you will not be subject to excessive exchange rates or any conversion charges. You will also receive, among others, the following insurances:

– Auto Rental Collision/ Loss Damage Insurance. When you pay for a car rental with your card, you will be fully protected in case of an accident. In this way, you do not have to buy the insurance coverage provided by the rental company.

– Delayed and Lost Baggage Insurance which offers reimbursement of up to 1,000 U.S. dollars. This applies to cases in which your checked luggage is lost or delayed by more than six hours from the time of arrival at your final destination.

– Purchase Security and Extended Warranty, which will protect against theft and damage most of the items that you pay in full with the card. This insurance is valid for ninety days from the date of purchase.

CIBC U.S. Dollar Visa Card

To be eligible for this CIBC credit card, you must prove a household income of 15,000 U.S. dollars. The annual fee which the Canadian Imperial Bank of Commerce charges is 35 U.S. dollars, and the APR on purchases and cash advances is 19.99 per cent and 21.5 per cent, respectively. As a cardholder, you are entitled to a $100,000 Common Carrier Accident Insurance, and a discount of up to 20 per cent at the participating AVIS locations worldwide.

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