Travelling Overseas? 5 Credit Cards with Zero Foreign Transaction Fees

Understanding Foreign Transaction Fees

Whenever you make a purchase or financial transaction through your international credit card, an additional charge, ranging from 1% to 5%, is added to your transaction by your credit card issuer. This is also known as markup cost, and applies to all financial transactions – when you shop, purchase or withdraw cash through your international credit card or transact through a foreign bank.

Let us take an example to understand the calculation of foreign transaction fees better. If you purchase something worth ₹10,000, and the foreign transaction fee charged by your credit card issuer is 3%, in this case, the forex fees will be ₹300, and with an additional GST of 18%, the total payable amount will be ₹354. This implies that instead of paying ₹10,000, an amount of ₹10,354 will be deducted from your account.

To avoid paying these markup costs, you can opt for forex cards. A forex card with zero markup is even better in such cases. A Forex card is a prepaid travel card where you can load money before setting foot on your international trip and use it to make cashless payments once you reach your destination abroad. You can reload the card as and when needed. Let us now see what a zero markup forex card is and how it can benefit you as an international traveller.

What is a Zero Forex Credit Card?

A zero markup forex card is a travel card that allows you to make international transactions without any hidden markup charges on currency conversion. This implies you get an exact value per the exchange rate without any inflated rate or an additional charge, reducing your extra expenses on every foreign transaction.

5 Popular Zero Forex Markup Travel Cards in India for 2025

If you are looking for a no foreign transaction fee credit card in India, here are the top 5 options to consider:

• Axis Bank Burgundy Private Credit Card
• Club Vistara IndusInd Bank Explorer Credit Card
• HDFC Bank Regalia ForexPlus Credit Card
• IDFC Bank First Wow Credit Card
• RBL World Safari Credit Card

*Disclaimer: The mentioned cards are arranged alphabetically and in no particular preference order.

1. Axis Bank Burgundy Private Credit Card

   The Axis Bank Burgundy Private Credit Card is an exclusive, invite-only card. It is a credit card with zero markup fee, hence a great choice for international travellers. On every Rs. 200 spent with this card, you earn 15 reward points. Along with zero foreign currency markup, it offers various benefits like unlimited international and domestic lounge access, complimentary memberships.

   Eligibility	You must be a part of the Burgundy Private program.
   Joining/Annual Fee	N/A
   Key Benefits	No forex markup on international transactions with flexibility to increase credit limit during foreign travel, reward points, 24x7 concierge services, complimentary hotel and dining memberships, lounge access at international airports, etc.

2. Club Vistara IndusInd Bank Explorer Credit Card

   This zero forex credit card is an optimal choice for frequent flyers and global travellers as it has zero foreign currency markup, no late payment charges, and no over-limit fees. Moreover, for every ₹3 lakh spent, you earn a business class ticket voucher. While this travel card is a good choice if you are looking for a no foreign transaction fee credit card, the benefits may be subject to change after its merger with Air India.

   Eligibility	You must be an Indian citizen between 18 and 65 years of age.
   Joining Fee	Rs. 40,000 + taxes
   Renewal Fee	Rs. 10,000 + taxes
   Key Benefits	One year Complimentary Club Vistara Gold membership, 16 complimentary international lounge visits, restaurant-specific discounts, business class ticket vouchers, Club Vistara points, etc.

3. HDFC Bank Regalia ForexPlus Credit Card

   This zero markup credit card is a premium forex card that ensures the convenience of international travellers through zero cross-currency charges. The HDFC Bank Regalia ForexPlus Credit Card is a single-currency prepaid card loaded in US dollars. Another important feature that makes it a popular zero forex markup credit card in India is its PayWave technology for secure payments. You also get various additional benefits along with this travel card.

   Eligibility	Anyone, whether or not an HDFC Bank customer, can apply for the card.
   Joining Fee	Rs. 1000 + taxes
   Reload Fee	Rs. 75 + taxes per reload transaction
   Key Benefits	Zero cross currency markup charges, one complimentary lounge access per quarter, 24x7 personal concierge/ referral services, etc.

4. IDFC Bank First Wow Credit Card

   It is among the popular credit cards with zero forex markup. The main highlight of the IDFC First Wow Credit Card is its zero joining fees. Since there is no requirement of income proof or existing credit history, this card can be an optimum choice even for students and homemakers. You must keep in mind that it requires a minimum fixed deposit of ₹20,000. With its credit limit of double the deposit amount, you can easily maximise your spending budget.

   Eligibility	You must be an Indian citizen and at least 18 years old. The minimum FD amount of ₹20,000 created during the credit card application process online
   Joining/Annual Fee	No joining fee. The card is free for a lifetime.
   Key Benefits	No forex conversion fee, 4x reward points on every travel spend, etc.

5. RBL World Safari Credit Card

   The RBL Bank World Safari Credit Card is another credit card with no foreign transaction fee, implying you can save up to a 5% markup fee on international transactions as compared to regular credit cards. This makes it suitable for people who frequently travel abroad. Along with a 0% foreign transaction fee, this card offers various travel-related benefits, including a ₹10,000 gift voucher from brands like Taj Experiences, Croma, and Amazon, when you spend ₹7.5 lakh. It also extends perks like 24x7 concierge services, fuel surcharge waiver of up to ₹250 per month, etc.

   Eligibility	N/A
   Joining/Annual Fee	Rs. 3000 + taxes
   Key Benefits	0% markup fee on foreign transactions, MakeMyTrip voucher worth Rs. 3,000, reward points on domestic retail transactions & travel purchases, two complimentary lounge visits (domestic & international), etc.

*Disclaimer: The key benefits for the cards include, but are not limited to, the above-mentioned points, and are subject to terms and conditions.

Factors to Consider When Buying a Zero Markup Forex Card

Now that you have gone through some of the top credit cards with zero forex markup, the next question that may pop up in your mind is: how should I decide which zero markup forex credit card to buy? Let us answer this query. Here are certain important criteria to choose the best zero markup forex cards:

• Always check if your selected card supports the currency for the country you intend to travel to.
• Check for additional costs associated with using a zero markup forex card, like issuance fees, balance inquiry charges, inactivity fees, etc. Choose a card with minimum additional fees.
• Check the security features of the cards, like instant locking/blocking, two-factor authorisation, fraud protection assistance, etc.
• Check the maximum daily limit on usage or withdrawal amount.
• Choose a card which you can easily top up through online services.
• Compare the annual fees and interest rates for your preferred 0 forex markup credit cards.
• Check the ease of issuance of the zero forex credit card. While some cards may involve a lengthy process, others are issued quickly.
• Compare the additional benefits that different cards offer. It is a good idea to select a card that provides maximum perks along with the regular benefit of no foreign transaction fees.

Difference Between Zero Markup Forex Card Vs International Credit Card

Here are some key differences between a regular international credit card and a zero forex markup credit card.

What Are The Benefits of Zero Markup Forex Cards?

Now that you know the difference between credit cards with zero forex markup and regular ones, here are some benefits and key features of zero forex cards that make them a smart choice for international travellers.

• There are no currency conversion charges or hidden fees. You get to save 1-5% of the markup fees on foreign exchange rates.
• These cards are easy to use as you just have to load money into them and they are ready to be used. You can even top them up anytime online while you are abroad.
• Like regular credit or debit cards, you can use the zero forex markup credit cards globally across various merchants, online stores, and ATMs.
• The multi-currency support feature allows you to top up your forex card with various currencies. This is a great option for people who take multi-country trips.
• Whether you have a zero forex markup debit card or a credit card, these cards come with security features like chip and PIN protection.
• Many cards also offer additional travel rewards & benefits like lounge access, dining offers, loyalty points, travel insurance, etc.
• The unused balance of the 0 forex credit card can be easily refunded to your bank account.

Final Verdict

Travelling abroad is no short of an adventure. Money plays a critical role in successfully planning a foreign trip. Hence, you must always strive to minimise your expenses. Finding a no foreign transaction fee credit card with zero forex markup will help you save some costs.

While forex cards with zero charges are a great solution to the hassle of carrying money securely abroad, don’t forget to buy an overseas travel insurance plan to ensure a safe international trip. This will ensure you do not get into financial trouble due to unexpected emergencies or disturbances.