Overview
Most credit cards automatically convert your purchase into your home currency at the moment of payment. For example, if your card’s main currency is CAD and you buy something priced in USD, your card provider instantly converts CAD → USD using their exchange rate.
With the Loop Card, it works differently. You spend in the original currency, which means if you buy something in USD, GBP, or EUR, it stays in that currency. Your Loop account holds balances in multiple currencies — USD, CAD, GBP, and EUR — so you can manage and repay directly in the same currency you spent.
This gives you more control, better transparency, and avoids unnecessary conversions.
Example
Let’s say you purchase a $100 USD software subscription using your Loop Card.
With a traditional card: the purchase is converted from CAD → USD at that moment, and your statement shows the amount in CAD (plus any FX fees).
With Loop: the transaction stays in USD, and your USD balance is used or updated accordingly. Later, you can repay your USD balance directly — no conversion needed.
You’re effectively spending “as if” you had a USD card, even if your company is based in another currency.
Tips
You can hold, spend, and repay in USD, CAD, GBP, or EUR.
This setup is ideal if your business pays international vendors or subscriptions in foreign currencies.
You’ll always see which currency each transaction is in from your Loop Dashboard.
FAQs
Can I choose which currency to pay with?
Loop automatically uses the matching currency balance for your transaction. If a merchant charges you in USD, it uses your USD balance.
What if I don’t have enough balance in that currency?
If your balance is low, you can top up or convert funds from another currency in your Loop account before repaying.
Does this affect my credit limit?
Your overall credit limit applies across all currencies. Spending in any currency draws from that same shared limit.