TD U.S. Dollar Visa

Overview

The TD U.S. Dollar Visa Card is a narrow-purpose card from TD Bank designed specifically for Canadians who make frequent purchases in U.S. dollars. Uniquely, it bills and is repaid in USD rather than CAD — you maintain a U.S. dollar account with TD and pay the card balance in U.S. dollars, bypassing the foreign exchange conversion that other Canadian cards apply. The annual fee is $39 USD. The card earns no rewards. It's a pure currency management tool for snowbirds, frequent U.S. travellers, cross-border shoppers, or anyone who receives USD income and wants to spend it without converting.

Who this card is for

This card suits Canadians who regularly spend in U.S. dollars and want to avoid the foreign transaction fees and currency conversion markups that apply to most Canadian credit cards. If you travel to the United States several times a year, shop frequently on U.S. websites, or have a U.S. dollar income stream from freelance work or investments, this card removes a persistent friction point. The $39 USD annual fee is offset quickly if you'd otherwise pay a 2.5% to 3% conversion markup on USD purchases. There is no income requirement.

Key benefits

The central benefit is eliminating the foreign currency conversion charge on USD purchases. Most Canadian cards apply a 2.5% to 3% conversion markup on top of the exchange rate when you spend in USD — on $5,000 USD annually in U.S. purchases, that markup costs you $125 to $150 USD. This card removes that cost entirely for cardholders who maintain a USD account at TD. The annual fee can be waived with a TD Borderless Plan banking account, making it effectively free for eligible TD account holders.

Basic travel benefits include trip interruption insurance (up to $5,000 USD per person) and common carrier travel accident insurance. Up to three additional cardholders can be added at no extra annual fee. Car rental discounts at Avis and Budget locations in Canada and the U.S. are also included.

Potential drawbacks

The card earns no rewards at all — no cashback, no points. Every dollar spent on this card generates nothing beyond the currency management benefit. The $39 USD annual fee is modest, but it's a real cost with no points offset. Cardholders who don't have or want a TD U.S. dollar banking account to repay in USD will find the card's usefulness limited. The card is also narrow — it's only advantageous for USD spending; for CAD or other currency purchases, other TD cards are more appropriate.

How it compares

The Scotiabank Passport Visa Infinite + eliminates foreign transaction fees entirely across all currencies at $150 CAD annually, and earns Scene+ points — a strong all-in-one solution for frequent travellers. For Canadians whose international spending is predominantly or exclusively in USD, the TD U.S. Dollar Visa's $39 USD fee is lower. Wealthsimple Visa Infinite + also charges no foreign transaction fees on any currency at a higher monthly fee, but with 2% cashback. The TD U.S. Dollar Visa is the right call only if USD is your primary foreign currency exposure.

Bottom line

The TD U.S. Dollar Visa is a practical tool for snowbirds and frequent U.S. travellers who want their USD spending in a clean, no-conversion-markup card. If the Borderless Plan waives the annual fee for you, the cost basis is zero and the currency saving is pure upside.