International spending

Best zero forex markup credit cards in India

These cards currently advertise 0% issuer forex markup on eligible international transactions. Compare the annual fee, approval route, rewards and conditions before choosing one.

Issuer information reviewed September 17, 2026.

Estimate the saving before applying

A typical 3.5% markup becomes about 4.13% after 18% GST on the fee. On ₹1 lakh of eligible foreign-currency purchases, moving from that rate to 0% can avoid roughly ₹4,130 of issuer markup and related GST.

Calculate your forex card cost

Zero forex card comparison

The order highlights broadly accessible and lower-fee routes first. It is an editorial shortlist, not a claim that one card is best for every applicant.

Card	Published fee position	Application type	Best suited to	Official source
Scapia Axis Bank Credit Card Axis Bank Available on Mastercard and RuPay. Rewards are Scapia Coins and redemption is through Scapia. Read our detailed guide	₹0 joining and annual fee	Unsecured; approval subject to the bank's assessment	Travellers who want no annual fee and use the Scapia ecosystem	Verify terms
ixigo AU Credit Card AU Small Finance Bank AU states that international spends do not earn reward points after the move to 0% forex markup.	Lifetime-free limited-period offer	Unsecured; approval subject to the bank's assessment	Frequent ixigo users who also value travel and railway benefits	Verify terms
IDFC FIRST WOW! Credit Card IDFC FIRST Bank The fixed deposit secures the credit line. Compare the deposit requirement and card limit before applying.	Lifetime free	Secured against a fixed deposit	Applicants who prefer an FD-backed card or have limited credit history	Verify terms
RBL Bank World Safari Credit Card RBL Bank RBL's product terms specify 0% markup on eligible retail foreign-currency transactions, exclusive of taxes.	Annual membership fee applies	Unsecured; approval subject to the bank's assessment	Travellers who can use the card's broader travel benefits enough to recover its fee	Verify terms

How to choose a zero forex card

Estimate your annual foreign-currency purchases and calculate the markup you would otherwise pay.
Subtract the annual fee and include any spend-based fee waiver you can realistically reach.
Check whether international spends earn rewards and how those rewards can be redeemed.
Decide whether an FD-backed card suits you or whether you need an unsecured credit line.
Review exclusions, card-network acceptance and customer support before travelling.

Zero markup does not mean zero conversion cost

Visa, Mastercard or RuPay converts the purchase using the network rate applicable when the transaction settles. That rate can differ from the rate shown in a search result or currency app. A zero-markup card removes the issuer's stated percentage fee; it does not lock the wholesale exchange rate.

Choose local currency at the terminal

If an overseas terminal offers to charge you in INR, that is usually dynamic currency conversion. The merchant's provider chooses that rate, which can erase the saving from a zero-markup card. Review the screen carefully and select the merchant's local currency when appropriate.

Frequently asked questions

What does zero forex markup mean on a credit card?

It means the issuer does not add its usual percentage markup to an eligible foreign-currency card transaction. The card network still converts the transaction into INR using its applicable settlement rate.

Is a zero forex markup card completely free to use abroad?

No. Dynamic currency conversion, ATM cash-withdrawal fees, finance charges, merchant surcharges and taxes on other fees can still apply. Always choose the local currency at the terminal when you want the card network to perform the conversion.

Do zero forex cards earn rewards on international spends?

It depends on the card. Some exclude international transactions from rewards, while others award points or platform-specific coins. Check the current reward exclusions and redemption value before comparing returns.

Is zero forex markup enough reason to get a new card?

Calculate your likely annual foreign-currency spend and compare the avoided markup with the annual fee, reward exclusions and any fixed-deposit requirement. A no-markup card is most useful when its total annual value exceeds its total cost.