In India, where forex charges can nearly eat up your travel budget, finding a right credit card that charges zero foreign exchange fee can be a game changer.
These zero forex credit cards not only help in saving money on travel but also provide added convenience and relaxation while exploring new places abroad.
In this article we will discuss some of the best zero forex credit cards available in India that have amazing benefits and rewards to offer to travel enthusiasts.
Best Zero Forex Credit Cards In India
The following credit cards charge zero foreign exchange fee
| Credit Card | Joining Fee/Annual Fee |
| Niyo SBM Global Credit Card | NIL (lifetime free) |
| Scapia Federal Bank Credit Card | NIL |
| IDFC WOW! Credit Card | NIL |
| BookMyForex YES Bank Credit Card | NIL |
| Axis Bank Burgundy Private Credit Card | Need to be eligible for Burgundy Private Client. |
| RBL World Safari Credit Card | Rs.3000+GST (Annual Fee) |
| Club Vistara IndusInd Bank Explorer Credit Card | Rs.40,000 |
The credit cards are ranked on the basis of their joining fee factor.
1. Niyo SBM Global Credit Card
This Niyo SBM Global credit card offers a unique currency conversion approach, i.e. only the amount users want for the transaction will be converted, not the whole amount. For the left out balance in the account, users will continue to earn a high interest on it with a monthly interest payout.
This feature of the credit card offers a seamless as well as a cost-effective solution for international transactions, which helps in maximizing the potential interest earnings.
Key offerings of the credit card
- Forex fee – Zero markup charges.
- Joining fee – Charges zero as its joining fee.
- Annual fee – A lifetime free credit card.
Benefits of the card
- Offers a complimentary visa airport lounge access at both domestic as well as at international terminals in India.
- The card also offers around 7% interest on fixed deposits per annum, and with that there is no need for a credit score.
- Offers free international airport lounge access in India, resulting in a comfortable and luxurious travel experience without having the need to pay extra for lounge access.
2. Scapia Federal Bank Credit Card
The Scapia Federal Bank credit card also charges zero as its joining as well as its annual fee, which all results in a good option to consider this credit card.
With that it also charges zero as its forex markup fee and also offers a good discount on the hotel and flight tickets booked via this credit card.
Key Aspects of the credit card
- Forex markup fee – Zero
- Joining fee – NIL (lifetime free credit card)
- Annual fee – NIL
Benefits of the credit card
- After spending around 5,000 per month via this credit card, you’ll get free access to all the domestic airport lounges.
- Get a flat 10% of scapia coins on each offline as well as on online transactions except on transactions for rent, money transfers, cash withdrawals, EMIs, and top-ups.
- For travel bookings made through this credit card mobile app, you’ll get to earn scapia coins worth 20% of the spend.
- Repayment of any service can be done through scapia application.
3. IDFC WOW! Credit Card
This is a premium credit card that is offered by the bank against the IDFC fixed deposit of at least Rs.2,000. Another interesting fact is that it requires no credit history or income proof for accessing this card.
Key Points of the credit card
- Forex markup fee – Zero
- Joining fee – zero (lifetime free credit card)
- Annual fee – Zero
Benefits of the credit card
- As a welcome bonus, the card offers 5% cashback of up to Rs 1,000 on the first EMI transaction made through this card.
- The card operates on a Visa network, and is widely accepted.
- With that it offers exciting Visa Infinite premium platform benefits.
- No documents are required for the card issuance process.
- Get access to various offers which can be used across 300 merchants.
4. BookMyForex YES Bank Credit Card
A co-branded card by YES Bank with BookMyForex which is one of the world’s largest marketplace for foreign exchange and money transfer space. The card supports not just a single currency conversion, but offers 14 major currency conversions.
Key features of the credit card
- Forex markup fee – Zero
- Joining fee – NIL
- Renewal fee – A renewal fee of Rs. 250 is charged if the cardholder is from India, and Rs.3,000 is charged if the cardholder is from outside of the country.
Benefits of the card are
- Offers a free international SIM card.
- Offers the facility of loading upto 14 currencies on the credit card.
- You can also reload your forex card remotely, and can exchange the remaining balance on your card for INR once you return back.
- The card issuance is free, and cash withdrawals value $2 plus taxes.
- There are no hidden charges associated with the card.
5. Axis Bank Burgundy Private Credit Card
One of the essential eligibility for this card is that first you need to be eligible for the Burgundy Private Client criteria.
The card is specially designed for the individuals who has a high net worth annually. The card is exclusively available for the prime customers of the bank, and offers them an array of benefits like the expensive lifestyle privileges, insurance covers, etc.
Key offerings of the card
- Forex markup fee – Zero
- Joining fee – Need to be the Burgundy Private Client.
- Annual fee – Varies according to time.
Benefits of the card
- Offers exclusive international concierge services.
- Premium lifestyle privileges.
- Increases the credit limit during international travels.
- Also you can withdraw cash without paying any charges.
- Spending Rs.200 every time, earn upto 1 Edge reward points.
- Also the points can be redeemed for a wide range of the items offered by the Axis Bank Rewards Catalog.
6. RBL World Safari Credit Card
This credit card comes with an annual fee and is suitable for those who frequently travel. Also the card offers amazing perks and benefits once you reach some spending milestones set by the credit card.
Key Aspects of the credit card
- Forex markup fee – Zero
- Joining fee – NIL
- Annual fee – Rs.3,000+GST
benefits of the card are
- Offers two complimentary airport lounge visits across 1300 international airport lounges.
- A priority pass membership.
- Get a voucher valued Rs.3,000 from MakeMyTrip.
- Get rewards on reaching some spending milestones.
- You can redeem your rewards points across various categories.
- Get upto 5 reward points on travel spendings.
- Offers complimentary travel insurance.
7. Club Vistara IndusInd Bank Explorer Credit Card
This credit card is considered as the credit card that has the highest range of benefits to offer. One of the most suited credit cards for those who frequently travel. Not only that, the credit card offers amazing gift vouchers as its welcome bonus.
Key Offering of the credit card
- Forex markup fee – Zero
- Joining fee – Rs.40,000
- Annual fee – Rs.10,000
Benefits of the credit card are
- Get a Club Vistara Gold membership with a complimentary priority pass membership.
- Receive gift vouchers worth Rs.25,000.
- Get around 6 to 8 Club Vistara points on spending Rs.200 every time on Vistara app or the website.
- Get upto 5 complimentary business tickets per year.
- The card offers an effective return of 7% to 10% when redeemed for Vistara flights.
- Get 5 complimentary lounge visits per year.
Summing Up
The above-mentioned credit cards charge zero as the forex markup fee and also offer exciting benefits, which can turn your travel experience into a memorable one. These credit cards are suitable for all types of travelers.
Have bought the forex credit card by idfc recently and is indeed really beneficial!
Never thought that forex credit cards will help in saving a good amount of money. Great to see many options offering this benefit!