No markup on international spends. Ranked by our editor score: reward rate, fee-to-value, perks you will actually use and ease of approval.
The forex markup is the quietest fee in Indian banking. Standard is 3.5% plus 18% GST on the markup, about 4.1% all-in, charged on every transaction in a foreign currency: hotels abroad, Netflix billed in dollars, an app subscription from a US developer, a flight booked on a foreign airline's site.
A two-week trip to Europe for two people runs ₹3 lakh to ₹5 lakh on cards. At 4.1% that is ₹12,000 to ₹20,000 in markup, usually more than the annual fee of any card in this list. Students paying overseas tuition and people with foreign subscriptions pay it quietly every month.
0% markup: Scapia Federal (lifetime free), a few fintech and forex-focused cards, and some premium cards during promotions. 1% to 2%: HDFC Infinia, Regalia Gold and Diners cards, Axis Magnus and Atlas, SBI ELITE and Aurum, OneCard. 3.5%: nearly everything else.
When a foreign merchant offers to bill you in rupees, decline it. Dynamic currency conversion uses the merchant's rate, typically 3% to 7% worse than the card network's, and the bank may still add its markup. Always pay in the local currency.
A forex card loaded before travel locks the rate and usually has no transaction markup, but loses the credit period and the rewards. For large planned trips, a zero-forex credit card is simpler and gives you the 45-day interest-free window.
Written by the CardSparrow editorial team. Figures checked against each issuer's MITC; see our editorial policy.
1 card found
Best for zero forex travel
Lifetime free travel card with 0% forex markup, unlimited domestic lounge access on ₹10,000 monthly spends and 10% Scapia coins.