Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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The best high-interest savings accounts in Canada for 2026 + MORE Mar 23rd
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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The best GIC rates in Canada for 2025 + MORE Jul 22nd
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Why Hollywood Celebrities Are Petitioning Against a Canadian Bank Mar 23rd
Royal Bank of Canada’s financial support for the Coastal GasLink pipeline is generating some star-studded opposition.
More than 65 celebrities, including award-winning actors, directors and musicians, have joined Indigenous climate activists in signing a petition calling on RBC and its subsidia.... More »
The best GIC rates in Canada for 2026 Jun 16th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
RateSupermarket.ca Will Become RATESDOTCA Sep 30th
We are excited to announce that RateSupermarket.ca will become RATESDOTCA. Don’t worry, besides a name change, how you compare the best credit cards and mortgage rates will remain the same.
What does this mean for you?
Our name is changing, but rest assured, everything else will remain the same.
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Is It Worth Getting a U.S. Dollar Credit Card?
– ratesupermarket.ca
According to the most recent census, two out of three (66%) Canadians live within 100 kilometres of the U.S. border. So, naturally millions of citizens cross over to the 13 neighbouring states every month. Many snowbirds even choose to stay for part of the year. But, with the value of the loonie significantly lower than the greenback, Canadians see less bang for their buck.
To add further salt to their wounds, credit card companies typically charge a fee anywhere from 2.5% to 3% on foreign transactions. That means, even after exchange rates, cardholders will pay another $25 to $30 in fees for every C$1,000 in purchases. This predicament may lead some to wonder whether it’s worth getting a U.S. dollar credit card.
How Do U.S. Dollar Credit Cards Work?
U.S. dollar credit cards are available in Canada and allow consumers to shop without exchange rate surprises and even pay U.S. bills. Unlike a standard credit card, all purchases are in U.S. currency rather than Canadian dollars, meaning no conversion takes place…
