The JPMorgan Chase Amazon.ca Rewards Visa card is a no-fee credit card. Why would you sign up for this card? The only reason I picked up this card is the no foreign exchange fee with 1% cash back and no annual fee. Seems ideal for travelling.
If only the Capital One World Aspire has no currency exchange fee, it would be perfect. To compare Amazon.ca Rewards Visa 0% exchange fee + 1% cashback (+1%) compared to Capital One World Aspire 2.5% exchange fee + 2% tiered rewards (-0.5%). It is a 1.5% difference, which is a lot!! This may possibly be better than bank exchange rate depending on the exchange rate set by VISA.
I was just approved for the card. Once I receive and test the card, I will update the post.
Highlights
- No Annual Fee
- No Foreign Exchange Fee
- 2% Rewards on Amazon.ca, 1% Rewards otherwise
- Redeem Rewards as $20 Statement Credit
- "No Interest with Minimum Payment" Financing Offers on Qualifying Amazon.ca Items
- 35k Annual Salary
- Canadian Resident
Transactions in Foreign Currency
We will bill you in Canadian currency for debts incurred in a foreign currency. We will
convert your Card transactions into Canadian currency at the exchange rate set by VISA
in effect at the time we post the transaction to your account. This exchange rate may
be different from the rate in effect on the transaction date. If you use your Card for a
transaction in a foreign currency, which is subsequently cancelled and you have been
given a credit receipt, the two transactions (the charge and the credit) may not exactly
balance if by the time we receive information about the credit receipt the exchange rate set
by VISA has changed. Once the credit has been processed, you will be required to pay any
remaining balance of the transaction cost resulting from an exchange rate differential. The
same process and charges may apply if an international transaction is reversed.
Disclaimer: This card is only available to Canadian residents. Also, I am not paid by JPMorgan to endorse their products.
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