9 Best Credit and Debit Cards in India with Zero Forex Charges

Generally, credit and debit cards charge 1% to 3.5% foreign exchange markup fee. In this blog post, I curated a list of 9 best credit and debit cards in India that don’t charge any forex markup fees on all your international transactions. 

Best Credit Cards for International Transactions 2023

#1. RBL Bank’s World Safari Credit Card 

RBL World Safari Credit Card is an excellent option for frequent international travelers with zero forex markup fee. This card allows you to save up to 4% on all foreign currency transactions.

You can enjoy complimentary airport lounge access, and various travel benefits like hotel discounts, flight vouchers, and travel insurance. You can also redeem the earned travel points for flights and hotel bookings. 

Fees & Charges

• Joining Fee – Rs. 3000
• Annual Fee – Rs 3000
• Forex Markup Charges: 0%
• Welcome Bonus – MakeMyTrip voucher worth Rs. 3,000 as a welcome gift.

Rewards 

• 5 travel points on every Rs. 100 spent on travel
• 2 travel points on every Rs. 100 spent elsewhere.

Lounge Access

• You get 2 domestic lounge access every calendar quarter to selected airports in India.
• Enjoy 2 complimentary international visits per year using Priority Pass membership.

Milestone Benefits 

• You get 10,000 bonus travel points on spending Rs. 2.5 lakhs or more in an anniversary year.
• Additionally, you get 15,000 travel points on spending Rs. 5 lakhs or more in an anniversary year.
• Enjoy a gift voucher worth Rs. 10,000 from Amazon / Taj experience/ Croma / Myntra / MakeMyTrip on achieving an annual spend of Rs. 7.5 lakhs.

If you have any query related RBL credit card you can contact RBL customer care number.

#2. IDFC First WOW Credit Card

The IDFC FIRST WOW! credit card is a remarkable option for budget-conscious travelers as it is the only Indian credit card that boasts zero forex markup and no annual or joining fees. 

The best part of this credit card is that it’s a lifetime free credit card. You can also go with ICICI Amazon Pay lifetime free credit card which offers you 5% cashback on Amazon spends.

The WOW credit card is a secured FD-based credit card that offers an exciting feature of earning @6.25% p.a. interest on Fixed Deposit.

Despite being secured, it remains an excellent choice for individuals who wish to travel abroad without worrying about forex fees.

• Joining and Annual Fee – NIL (Lifetime Free)
• Forex Markup Charges – 0%
• Rewards – 4X Reward Points on every Rs. 150 spends
• Welcome Benefits – Enjoy 5% Cashback up to Rs. 1,000 on the first EMI transaction done within 90 days of card activation.
• Fuel Benefits – 1% fuel surcharge waiver (up to Rs. 200 per statement cycle).
• Lounge Access – IDFC First WOW card does not offer any lounge access.

#3. Club Vistara IndusInd Bank Explorer Credit Card

Club Vistara IndusInd Bank Explorer credit card is a travel credit card that offers zero forex markup on international transactions. This credit card is perfect for frequent travelers who fly with Vistara Airlines. 

You can earn reward points on your spends, which can be redeemed for free flights or upgrades. Additionally, you get complimentary lounge access, travel insurance, and priority check-in and boarding at select airports.

Although the IndusInd Vistara card may not appear as attractive as – the Axis Vistara Card, which offers the same benefits with a lower joining fee but IndusInd Vistara has a USP – zero foreign currency markup.

• Joining Fee – Rs 40000
• Annual Fee – Rs 10000
• Forex Markup Charges – 0%

Welcome Benefits 

• You get a complimentary Club Vistara Gold Membership.
• Enjoy a complimentary business class ticket.
• Exclusive gift vouchers worth Rs 25,000.
• You also get one complimentary business class ticket voucher annually on card renewal.

Rewards

• Get 8 CV Points per Rs. 200 spent on Vistara.
• 6 CV Points per Rs. 200 spent on travel/hotel/airline bookings.
• You get 2 CV Points per retail transaction of Rs. 200.
• 1 CV Point per Rs. 200 spent on fuel transactions and utility/insurance categories.

Milestone Benefits 

You get up to 5 business class tickets on annual spends of Rs. 15 Lakh.

Lounge Access

• 4 complimentary access to international lounges every quarter via Priority Pass.
• 1 domestic lounge visits every quarterly.

#4. Axis Burgundy Private Credit Card

The Axis Burgandy Private card is an exclusive invite-only credit card. To be eligible for the card, you must maintain a Total Relationship Value (TRV) of 5 Crore or more. 

However, in case your TRV falls below the required threshold, you will be required to pay an annual fee of Rs. 50000 + GST to continue using the card.

This credit card is especially designed for high net-worth Indians seeking a luxury lifestyle with offering zero forex charges. You also get complimentary memberships to prestigious clubs such as Club Marriott, Accor Plus, and Taj Epicure, further elevating your extravagant lifestyle.

• Joining Fee – Rs. 50,000 (Nil for individuals holding a Burgundy Private account)
• Annual Fee – Rs. 50,000 (Nil for individuals holding a Burgundy Private account)
• Forex Markup Charges – 0%
• Welcome Benefits – 30,000 edge Reward Points
• Rewards – 15 Edge Reward Points for every Rs. 200 spent.
• Golf Benefits – 50 complimentary golf rounds every year.

Lounge Access

• Unlimited complimentary domestic & international lounge access. You may also go with Axis Magnus credit card, HDFC infinia Metal Edition, & HDFC Diners Club Black credit card to get the unlimited lounge access which comes with lower annual fees.

Best Debit Card with Zero Forex Charges 2023

#5. IndusInd Exclusive Debit Card

The IndusInd Exclusive Debit Card is available in two variants – Mastercard World and Visa Signature – and is designed to cater to the exclusive saving account holders of the bank. 

This debit card comes with the benefit of zero joining and annual fees. Additionally, it also provides the benefit of zero forex markup charges, making it a preferred choice for international travelers.

You also get complimentary lounge access with this debit card.

• Joining/Annual Fee: Zero for Exclusive Accounts
• Variants: Mastercard World/Visa Signature
• Forex Markup Charges: 0%
• Rewards: Up to 6 RP on every Rs 200 spent.
• Lounge Access: 2 complimentary visits per quarter to domestic airport lounges for Mastercard & Visa variant.

#6. RBL Signature+ Debit Card

The RBL Signature+ Debit Card is another popular option for travelers in India. This debit card offers zero forex markup on international transactions, along with other benefits such as airport lounge access, travel insurance, and reward points on your spends.

• Annual Fee – Rs 1500
• Annual Fee Waiver – Waived off on annual spend of Rs 3 Lakhs
• Welcome Voucher – worth Rs. 5,000 on leading brands.
• Forex Markup Charges: 0%
• Rewards Return – 1%
• Lounge Access – 2 complimentary visits per quarter at domestic airport lounges.

Cashback on Spends

• Get 1% cashback as vouchers on minimum spend of Rs. 10,000 per month with maximum cap of Rs. 1000 per month.
• Earn cash vouchers worth Rs. 5,000 on annual spends of Rs. 5 Lakhs.

#7. IndusInd Bank Pioneer Visa Infinite Debit Card

IndusInd Bank’s Pioneer Infinite Debit Card is tailored to enrich your shopping experience, with its impressive rewards program. 

You can enjoy a 0.5% return on your spending with the Pioneer debit card, and with the Pioneer Legacy program, you can earn even more rewards with 1% on weekdays and 2% on weekends. If you spend over 6 lakhs annually, you’ll earn an additional 1% reward rate.

Furthermore, this card offers zero foreign currency markup charges, making it an excellent option for international transactions.

• Joining/Annual Fee – Free for Pioneer Accounts
• Forex Markup Charges – 0%
• Rewards – Earn 1 point for every Rs 200 spent on Pioneer Debit Card.
• Reward Redemption – You can redeem your points and shop on IndusMoments with 1 Point = Rs.1
• Lounge Access: 2 complimentary visits/qtr to domestic & international airport lounges.

#8. Fi Debit Card

Fi, the digital neobank account, has partnered with Federal Bank to offer a range of services to its customers. The account is backed by the Deposit Insurance and Credit Guarantee Corporation of India, which insures deposits up to Rs. 5 lakh. 

Fi offers a type of Visa Platinum debit card, issued in both physical and virtual form, that is accepted across the global ATM network. Your digital card is a virtual twin of your physical debit card, making it easy to use for all your transactions.

In addition, you get a free savings account unlike any other, with no minimum balance required, and zero forex markup charges. Another benefit is that Fi charges only Rs. 100 for international ATM cash withdrawals, making it best for frequent international travelers.

Key Highlights of Fi Debit card

• Issuance/Annual Fee – NIL
• Forex Markup Charges – 0%
• Charge Rs. 100 on international ATM cash withdrawal from Fi
• No minimum balance required
• Withdraw from any ATM
• No hidden fees
• Money insured up to Rs. 5 lakh

#9. NiyoX Debit Card

Niyo has partnered with Equitas Small Finance Bank to launch NiyoX Debit Card. NiyoX offers two types of VISA debit cards: 

• Virtual: VISA Classic debit card which can be used for all your online transactions.
• Physical debit card, i.e Visa Platinum debit card can be used for international transactions.

The card is linked to a NiyoX savings account, which can be easily opened through the NiyoX app.

The NiyoX debit card comes with a host of benefits, including zero issuance fee, zero account maintenance fee, and zero forex markup fees. Additionally, NiyoX offers attractive cashback and rewards programs on the use of its debit card. 

Key Features of NiyoX Debit Card

• Issuance/Annual Fee –  Free
• Forex Markup Charges – 0%
• Rewards – 0.3%
• 0 Balance Savings Account
• 0% Commission on Mutual Funds
• 7% Interest p.a. on your Savings

Conclusion

If you are looking for a credit card with zero forex charges, consider RBL Bank’s World Safari credit card as this card offers 0% foreign currency markup fee with an affordable joining fee. If you use this card only for Travel purposes, you get 3.15% reward rate and 2.5% for non-travel spends.

For high net worth individuals, Club Vistara IndusInd Bank Explorer credit card is also an ideal option for zero forex charges with lounge access. Additionally you get 5 business class tickets on annual spends of Rs. 15 Lakh, making a great for frequent travelers. 

If you are looking for a debit card with zero forex charges, IndusInd Exclusive debit card is the best option for you as the card offers zero membership fee, zero forex markup fee with complimentary lounge access. You can save an additional 1% through the earned reward points while you swipe your card.