U.S. dollar credit cards: defined

Many Canadians regularly make purchases from U.S. merchants and vendors. For these individuals, opting to use a USD credit card can be a smart financial decision. With a U.S. dollar credit card, you perform transactions and make your payments entirely in U.S. currency, so you don’t have to worry about currency exchanges or the associated fees.

Top reasons to have a U.S. dollar credit card

The primary reason U.S. dollar credit cards are popular is because they eliminate the need for currency conversion when you pay in USD, as exchange fees can add up. If you’re making online purchases on U.S. websites, you’ll also incur a foreign currency exchange fee with each purchase you make.

With a U.S. dollar credit card, those fees are prevented when you use the card only for USD purchases. From the initial charge to paying your bill, all is done in U.S. dollars. Your card also makes you eligible for common carrier accident insurance* and discounts on car rentals, just for making your regular purchases.

Who should apply for a U.S. dollar credit card?

U.S. dollar credit cards are designed for individuals who regularly make purchases in the U.S. This can include:

  • Customers who regularly travel to the U.S., which may be as little as 3 times a year or as often as every week
  • Customers who frequently make work-related or personal purchases from U.S. retailers and vendors
  • Customers who also have a U.S. dollar bank account
  • Customers who live in the States for more than a quarter of the year

How do I apply for a U.S. dollar credit card?

You can complete an online credit card applicationOpens a new window in your browser. You can also go to a local CIBC Banking Centre or call us at 1-800-465-4653.

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