USD credit card

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ockham
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Re: USD credit card

Post by ockham »

Ken wrote: 26 Dec 2017 16:40
adrian2 wrote: 26 Dec 2017 15:32How do you plan to pay it?
Short answer: With dividends from USD ETFs.
Long answer: In the short term from my corporate investment accounts at Scotia, but being retired I'm drawing those down over the next few years. Long term from my RBC-DI RRSP and possibly RBC-DI non-registered account which doesn't exist yet as all my non-registered funds are tied up in rental houses. Anyway that's why I'd like to use RBC but they want US$65 annual fee. I might go talk to them and see if I can get it waived since I'm such an awesome dude.
I'm in the same situation, more or less. All my investment accounts are at RBCDI. I have an RBC US$ card. The "rewards" the card earns can be used to cover the annual fee. That's what I do. In that sense, the card becomes a "no fee" card. But, ...., still.

Besides being, like you, an awesome dude, I'm also a cheap sob. Let us know how your discussions go.
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Re: USD credit card

Post by Stan »

Ken wrote: 26 Dec 2017 14:51 I plan to apply for a USD credit card from a Canadian bank in the next week or so. Just wondering which cards you folks currently recommend or like.
All of them seem to have annual fees these days. And unfortunately the bank I would LIKE to have it with because of my other banking is RBC with the highest annual fee. Suggestions?
Royal used to have a correspondent bank in the US.(not sure which one).

I use TD. I opened an account at a TD Bank in Florida and got a TD Visa Cash Card. No fees and cash back. I have a cross-border account at TD Canada Trust in Canada with a US account and transfer up to $2500/day online via Visa direct. The $12.95 fee is waived by TD. Since we are in Florida for 4-5 months this is the best system I have discovered.

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Re: USD credit card

Post by pmj »

milton wrote: 27 Dec 2017 00:42 Anyone use a Rogers Platinum Mastercard for USD purchases? It gives 4% cash back for all foreign purchases (although it charges you 2.5% forex). Net rebate is 1.5%. The $29 annual fee is waived if you're a Rogers, Fido, or Chatr customer and enrolled in auto-pay. Seems like a good deal. Oh yeah, and on Canadian purchases, it gives back 1.75%. For a 'free' card, it's a lot better than some of the other cards that have an annual fee.
Yup - and for all foreign currency purchases. The net rebate is actually 1.6%, because the 2.5% fee is applied before the 4% cashback is calculated.
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Re: USD credit card

Post by THEMAINEVENT »

No fee charged on my RBC Visa Signature USD credit card (and I just went back to look and double check that) but the basic RBC USD Royal Embassy chequing account that I use to pay it charges me an irritating $3.95 monthly fee. That Visa had $12.65 in fees in 2017 and those were cross border fees for using the card in Mexico. I like on the statement a section that shows total annual fees, my Avion card doesn't have that, just fees from current statement.

RBC seems to be getting worse with not waiving certain fees for me that they have in the past. My business accounts are the worst despite never having less than six figures in them I get nailed with $17 incoming wire fees, deposit fees, new cheque fees (have always gotten most of those waived but have been told no more), etc. Just got the annual credit review charge of $90.07 for a business line of credit we have never touched. Avion Infinite Privilege card has a hefty $400 fee and some gets rebated and the rest is quickly made up by the extra points. My VIP chequing account is $30/month and I have had periods where it was fully rebated but now I get a $10 "multi-account" rebate.
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Re: USD credit card

Post by milton »

pmj wrote: 27 Dec 2017 09:45 Yup - and for all foreign currency purchases. The net rebate is actually 1.6%, because the 2.5% fee is applied before the 4% cashback is calculated.
For once the fee works in our favour!!!
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Re: USD credit card

Post by Ken »

ockham wrote: 27 Dec 2017 01:07 I'm in the same situation, more or less. All my investment accounts are at RBCDI. I have an RBC US$ card. The "rewards" the card earns can be used to cover the annual fee. That's what I do. In that sense, the card becomes a "no fee" card. But, ...., still.
Well, hopefully the rewards will cover my fee as well because (blush) I went ahead and applied for the RBC US$ card because it fits with my main move to RBC.
Stan wrote: 27 Dec 2017 08:26 Royal used to have a correspondent bank in the US.(not sure which one).
They still do. I was offered that as an option but declined... open an account at their US affiliate and get a free credit card but the account itself has fees so not worth the hassle unless you actually have a use for said account.
Stan wrote: 27 Dec 2017 08:26I use TD.
TD-Canada Trust did something to me 25 years ago that was so unforgiveable that I will never deal with them in ANY way again.
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Re: USD credit card

Post by Ken »

I'm in Alaska right now and yup, the pay for gas at the pump problem is alive and well. Up north in out of the way places it was no problem but now that I'm down in the more populated areas it is a problem. I don't mind prepaying unless it involves waiting in line TWICE which makes a simple gas purchase anywhere up to a 1/2 hour ordeal. The solutions I've read here and elsewhere all involve a fair bit of effort... find a friend in the US, get a new card using the friend's address. So I think I'm stuck with it. It actually makes road tripping in the US less attractive.
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Re: USD credit card

Post by pmj »

I was in California last September, and by chance my first fill-up was at a "76" station.
Rogers MC - no PIN, no postal code work-around ... no security :shock:.
So I used "76" stations for the entire trip :D.
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Re: USD credit card

Post by Thegipper »

I use a Capital One card which I obtained in the USA. It's a no-fee and has a 1% rebate. It has been a good card.
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Re: USD credit card

Post by Ken »

Ken wrote: 18 Jul 2018 12:14 I'm in Alaska right now and yup, the pay for gas at the pump problem is alive and well. Up north in out of the way places it was no problem but now that I'm down in the more populated areas it is a problem. I don't mind prepaying unless it involves waiting in line TWICE which makes a simple gas purchase anywhere up to a 1/2 hour ordeal. The solutions I've read here and elsewhere all involve a fair bit of effort... find a friend in the US, get a new card using the friend's address. So I think I'm stuck with it. It actually makes road tripping in the US less attractive.
I recently signed up for an account and Visa card at RBC's US affiliate. They've been sending me some tips including this one...
Paying for Gas at the Pump
Tip #3. If a zip code is requested when you use your U.S. credit card or debit card to pay for gas at the pump and you’re your permanent address is in Canada, enter the three digits from your Canadian postal code followed by two zeroes. Although not all gas stations in the U.S. will accept this code, many will.
Has anyone tried this?
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Re: USD credit card

Post by deaddog »

Ken wrote: 04 Oct 2018 12:44
Paying for Gas at the Pump
Tip #3. If a zip code is requested when you use your U.S. credit card or debit card to pay for gas at the pump and you’re your permanent address is in Canada, enter the three digits from your Canadian postal code followed by two zeroes. Although not all gas stations in the U.S. will accept this code, many will.
Has anyone tried this?
Yes it seems to work in the western states
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Re: USD credit card

Post by brucecohen »

Used to work well in the northeast states. Now not so much. There's one chain where it always worked this summer: Love's.
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Re: USD credit card

Post by AltaRed »

I find it is chain dependent, and now perhaps 'ownership' dependent, and by the latter I mean, many (most?) retail outlets are owned by other parties such as Couche-Tarde and perhaps it is 'they' that impose their own verification methodologies. My recent experience is all in the southern states or Hawaii. I know the specific phantom zip code assigned to my US domiciled credit card does work well at some locations and not others. All one can do is 'land' on where it works and then give them all your business.
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Re: USD credit card

Post by nile »

zip code trick worked last week in Phoenix on home trust visa
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Re: USD credit card

Post by Ken »

There are

- currency exchange fees.
I avoid these by using USD denominated credit cards.

- foreign transaction fees (AKA: cross border fees).
I have an RBC (Canadian Bank) USD Visa card which I used in Panama this winter with no cross border fees
And I have an RBC-US (US Bank affiliate) USD Visa card which charged me a separate 1.5% "cross border fee" on every transaction in Panama. So I stopped using that card very quickly.

What experiences have others had with these cross border fees?
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Re: USD credit card

Post by deaddog »

Ken wrote: 10 Mar 2019 22:35 There are

- currency exchange fees.
I avoid these by using USD denominated credit cards.

- foreign transaction fees (AKA: cross border fees).
I have an RBC (Canadian Bank) USD Visa card which I used in Panama this winter with no cross border fees
And I have an RBC-US (US Bank affiliate) USD Visa card which charged me a separate 1.5% "cross border fee" on every transaction in Panama. So I stopped using that card very quickly.

What experiences have others had with these cross border fees?
BMO US Dollar Master Card.
Used in US.
No Annual fee, no cross border fees, no perks.
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Re: USD credit card

Post by Ken »

deaddog wrote: 10 Mar 2019 23:09 BMO US Dollar Master Card.
Used in US.
No Annual fee, no cross border fees, no perks.
Used in the US is not a problem. It's when used outside the US that it happens, for example for me in Panama. Using it at airports in the US on the way there did not create a fee.
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Re: USD credit card

Post by Ken »

Bylo Selhi wrote: 15 Feb 2021 22:17 I have a TD US$ Visa, along with a TD US$ chequing account for that. The chequing account has a US$3,000 balance minimum to avoid monthly fees and to get the US$ Visa for free.
Hi Bylo, I found this old thread to respond to you in. What I'm talking about is exactly the same problem I was talking about in this thread 2 years ago. I have still not solved this problem. (bigger fish to fry)

First, regarding your TD card, Is it TD Canada or their US affiliate?
RBC, where my current USD credit cards are, has not opted in to the current trend of requiring minimum balances to avoid monthly fees. So I expect I'll have to look elsewhere, like maybe TD.

To recap, here is the problem I'm trying to solve...
1. reduce or eliminate annual fees
2. eliminate "cross border" fees. My RBC-US (US domiciled) Visa charges a 1.5% "cross border fee" on txns outside the USA. Using it inside the US is no problem. But in say Belize, or Panama, I pay a US$1000 hotel bill and get a US$15 "cross border" fee. Which was a rude surprise the first time.

Currently I have 2 USD credit cards
1. RBC-CA (Canadian domiciled) USD Visa card which costs US$65 per year but has no "cross border fees". I can use it where-ever I like with no silly fees. So I like this card except for the annual fee. Your TD card might work to replace it.
2. RBC-US (US domiciled) USD Visa card which is free but I'm required to have an associated RBC-US chequing acct that costs US$47 per year AND use of this card outside the USA costs me a 1.5% "cross border fee" on every transaction. So I'm likely to turf this whole setup. When I set it up I thought that I might make use of the US domiciled cheques it gives me but I never have.
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Re: USD credit card

Post by Bylo Selhi »

Ken wrote: 15 Feb 2021 23:35First, regarding your TD card, Is it TD Canada or their US affiliate?
Canadian domiciled. I'm aware of TD's US-domiciled offerings but don't do enough US$ transactions to warrant the effort. There are several lengthy threads on RFD, e.g. TD Cash Visa [TD Bank N.A.], Cross-Border US Banking and Credit Cards Mega-Thread et al if you want to explore this further.

BTW there are parts of Pennsylvania where TD Bank US has so many branches, all sporting the familiar TD green logo, that it's easy to think you're driving in suburban Canada.
2. eliminate "cross border" fees. My RBC-US (US domiciled) Visa charges a 1.5% "cross border fee" on txns outside the USA. Using it inside the US is no problem. But in say Belize, or Panama, I pay a US$1000 hotel bill and get a US$15 "cross border" fee. Which was a rude surprise the first time.
I don't know if TD's Canadian US$ does this because I've never used it outside of the US. All I can say is I've never heard of such a charge.
When I set it up I thought that I might make use of the US domiciled cheques it gives me but I never have.
I've had the TD Can US$ chequing account and credit card for decades going back to Canada Trust. Originally the cheques used US clearing info drawing on CT's affiliate in Delaware. Then after 9-11 they apparently were forced to stop this and reissued cheques with Canadian clearing info. These latter cheques are next to useless in the US. Even if a US bank is willing to accept them, they then charge the recipient some ridiculous fee for manual clearing. In the few times I've needed to send someone a US$ cheque I go into my TD branch and get a cashier's cheque/draft in US$. They try to charge a fee for this. I respond with a surprised, "But you've never charged me for one of these before!?" and they quickly back off. YMMV etc.
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Re: USD credit card

Post by Ken »

Bylo Selhi wrote: 16 Feb 2021 07:41
Thanks Bylo. It took me a while to find a page on the TD website which confirms the fee waiver but here it is.
This looks like a solution.
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Re: USD credit card

Post by Bylo Selhi »

Ken wrote: 16 Feb 2021 11:31
Bylo Selhi wrote: 16 Feb 2021 07:41
Thanks Bylo. It took me a while to find a page on the TD website which confirms the fee waiver but here it is.
This looks like a solution.
Thanks for the link. Looks like they've made changes since I last looked at this. They have two options now for what they call long-term and short-term travellers. What I have seems to be a hybrid of the two, Borderless plus US$ Visa but no TD Convenience Checking. The latter would address the US clearing info issue although these days it's not that useful for those of us who don't reside in the US for part of the year.
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Re: USD credit card

Post by AltaRed »

I have a legacy Wells Fargo (Texas) USD checking account with a $750 balance minimum for 'no fee' checking, plus a no fee Wells Fargo (US domiciled) Visa credit card. I pay CC balances via internal WF money transfer. They have served me well except in Hawaii where WF has had no presence and I pay an ATM fee to extract cash. They keep saying they intend to get into a partner arrangement with a Hawaii bank for no fee ATM transactions but as of 3 years ago, that was not the case.

I opened a BMO Harris USD chequing account (no minimum) with the ultimate goal of dropping my WF chequing account, and to fund it via transfers from my BMO Cdn domiciled USD account. I pay off my WF credit card from BMO Harris using Bill Payment. I may ultimately move to a BMO Harris USD credit card if I can get a 'no fee' credit card and thus dispose of my Wells Fargo accounts. I have yet not pursued anything in that regard.
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Re: USD credit card

Post by johnsmith1 »

I have a US TD bank convienence checking account, to waive fees you just need to keep 100 dollars there. It can be applied online and debit card will be sent to your Canadian address. If you also have TD Canada side US dollar checking account, you can move US dollars back and forth free of charge(each transaction has 8.95 charge then reversed in 2 or 3 days)

US td bank's no fee cash back Visa card is also very good. Watch for the signup bonus. You apply when it hits 200 US dollars. The CC will be also sent to your Canadian home address.
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Re: USD credit card

Post by Arby »

I received my renewal credit card from TD Bank in the USA. The new card is physically different from any card I've seen. There is no indication of the card number on the front of the card, rather the number is on the back of the card. Also, the card number is printed flat on the card, rather than in raised numbers. The signature block on the card is literally 1/4 inch high, so I can barely sign my name in the block. Are any other cards using this physical format?
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Re: USD credit card

Post by ole'trader »

Yes - Tangerine has gone that route also
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