When you travel abroad or purchase from international websites, one sneaky cost is the forex markup — the extra percentage banks charge for foreign currency transactions. Choosing a credit card with no (or minimal) foreign transaction fee can save you a lot of money.
Here, we discuss some of the best credit cards in India that let you spend internationally without heavy forex charges.
What Is Foreign Transaction / Forex Markup Fee
A foreign transaction fee (or forex markup fee) is a charge applied by credit card issuers when you make a purchase in a currency other than Indian rupee. This fee is typically a percentage of the transaction amount.
When a card has zero forex markup, you don’t pay this additional percentage — you just pay for the foreign purchase at the exchange rate, without an extra fee.
Why Zero-Forex Cards Are Valuable
- Cost Savings: Saves a significant amount on international spends.
- Better for Travel: Helps when paying for hotels, flights, or restaurants abroad.
- Good for E-commerce: Useful if you buy things from overseas websites.
- Credit Efficiency: You avoid extra costs, making your credit card more efficient for global use.
Top Credit Cards in India with No or Zero Forex Markup
Here are some leading credit cards in India that are known for zero foreign transaction fees or very low forex markup:
- This is a premium/invite-only card.
- Zero forex markup on international transactions.
- Very high credit limit; good for frequent travelers.
- Charges 0% markup fee on foreign currency transactions.
- Annual/joining fee: ~₹3,000.
- Comes with travel points: 5 travel points per ₹100 for travel spends; 2 travel points per ₹100 for other spend.
- Offers Priority Pass lounge access (international/domestic) according to some sources.
- Zero forex markup fee.
- No joining or annual fee per Mint.
- Instant redemption for flights, hotels, and more via the Scapia app.
- No foreign transaction fee (0% forex markup).
- Comes with other travel benefits — e.g., discounts on flights, hotels.
- According to Jupiter, the Niyo SBM Bank Credit Card has zero forex markup.
- Also offers international features like lounge access (depending on spend).
- According to Jupiter, zero forex charges.
- Premium card: has travel and lounge benefits.
- Specifically designed for international travel. Mint / Livemint list it among cards with no forex markup.
- It’s a “ForexPlus” card, which suggests it’s meant for foreign currency usage.
Things to Watch Out For
While zero-forex credit cards are very useful, there are a few things to keep in mind:
- Annual / Joining Fees: Some of these cards have quite high annual or joining fees (e.g., RBL World Safari has ₹3,000).
- Credit Requirement: Premium zero-forex cards may require a very good or excellent credit score, or an invite. (e.g., Axis Burgundy Private)
- Rewards vs. Costs: Even if a card has no forex mark-up, check whether the rewards / points you earn are good enough to justify the fee you pay (if any).
- Acceptance: Make sure the card network (Visa, Mastercard, Amex) is widely accepted in your travel destination.
- Exchange Rate: Although there’s no markup, you will still pay based on the card network’s exchange rate, so there can be small spreads.
Who Should Consider These Cards
These no-forex or zero markup cards are especially good for:
- Frequent international travelers
- People who shop on international websites
- Digital nomads or remote workers spending abroad
- Anyone who wants to minimize extra costs on overseas purchases
Final Thoughts
If you travel internationally or make purchases in foreign currency, a credit card that waives the foreign transaction fee can be a smart financial decision. Cards like RBL World Safari, Federal Scapia, Niyo SBM, IDFC Mayura, Ixigo AU and Axis Burgundy Private (if you are eligible) offer real value by eliminating overt forex charges.
However, don’t pick a card just because of zero markup. Consider the annual fee, your travel frequency, and how much you’ll possibly save versus the cost of holding the card.