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Beat Forex Fees: Best Credit Cards that offset mark-up fee with Rewards

  • Thread starter Thread starter helloworld
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@helloworld Bob Eterna looks best but seems like it is capped at 5K reward points so a measly INR 33K spend per month. Right?

@Vineet Kumar @Ra.One Those IndusInd cards look really good, thanks for sharing. I prefer hassle free cashback over other rewards. The scaling is also perfect. Grande DC is capped at 50K pm for low volume users. Pioneer DC is the middle ground and Pioneer CC for high volume users who can get the fee waived with 10L spends.

I think I may go for this. Any other insights you can share based on your usage?

By the way, "international spends" includes shopping internationally from India as well right?
 
@Panthera_Tigris
If your choice is Indus DC's, try for MC versions rather than Visa, as Visa rates are poor.
And Yes, international spends include shopping internationally from India.
 
@helloworld Bob Eterna looks best but seems like it is capped at 5K reward points so a measly INR 33K spend per month. Right?

@Vineet Kumar @Ra.One Those IndusInd cards look really good, thanks for sharing. I prefer hassle free cashback over other rewards. The scaling is also perfect. Grande DC is capped at 50K pm for low volume users. Pioneer DC is the middle ground and Pioneer CC for high volume users who can get the fee waived with 10L spends.

I think I may go for this. Any other insights you can share based on your usage?

By the way, "international spends" includes shopping internationally from India as well right?

42k per month is the bob limit. and its the only best option in cashback.
 
Can someone tell which international websites will get you 5% cashback on HDFC Swiggy credit card? Any clear definitions of exclusions anywhere?
 
Can someone tell which international websites will get you 5% cashback on HDFC Swiggy credit card? Any clear definitions of exclusions anywhere?

Again MCC based I think? Everything that comes under the MCC's listed (you can see them on the card page on the HDFC site) should work; anything other than those will obviously not give 5%.
 
* AXIS Atlas will have high value depends on miles/hotel transfer options, above is lowest value.
I see it is minimum 5% here. Is the assumption here that 5L was spent on hotels/flights? In another thread, it is mentioned at 4%. Hence, net negative return for international transactions. I see differences in other cards as well. Probably because of different assumptions about the spent amount and category.

So, if I'm looking at offline transactions at abroad, how different would this list be? Also, if we consider the worst case scenarios for each card i.e. excluded category, would a non-rewarding but zero forex card be better?
 
I see it is minimum 5% here. Is the assumption here that 5L was spent on hotels/flights? In another thread, it is mentioned at 4%. Hence, net negative return for international transactions. I see differences in other cards as well. Probably because of different assumptions about the spent amount and category.

So, if I'm looking at offline transactions at abroad, how different would this list be?



also can check links bottom of main post with detailed calculations.


Also, if we consider the worst case scenarios for each card i.e. excluded category, would a non-rewarding but zero forex card be better?

if ur talking about rent, wallet.. yes. Otherwise, not all cards exclude same categories for eaening rewards. Check appropriate card details or find them in my signature.
 
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Probably because of different assumptions about the spent amount and category.

if something need required amount of spends, already mentioned in that table. If not mentioned anything then min. txn value applies for that card. Nothing hidden, can check some cards posts at bottom of #1 thread for detailed, complicated, best and worst scenario reward rates.

Still find anything missing, do let us know.

So, if I'm looking at offline transactions at abroad, how different would this list be?

^All cards work for both Online and Offline (except the one specifically mentioned as Online only).
 
if something need required amount of spends, already mentioned in that table. If not mentioned anything then min. txn value applies for that card. Nothing hidden, can check some cards posts at bottom of #1 thread for detailed, complicated, best and worst scenario reward rates.

Still find anything missing, do let us know.

Well, from your quoted thread, Atlas gets 5 EM/₹100 for travel spends. So, for 5L spent on travel, you get 25K EM. There is an additional 2.5K EM for reaching 3L spent milestone. I'm excluding joining bonus 2.5K EM as that is not available in silver tier from second year onward. Now, if we consider 1EM = ₹1, we get ₹27.5K. Deduct the annual fee of ₹5.9K and we're left with ₹19.1K. So, effective reward rate is 3.82%. Even if you consider the 2.5K EM as joining bonus, we get 4.32%. So, how did you get 5% as lowest value? I'm assuming that's what you meant by "5%+ (Flights/Hotels) on 5L spends".

I was going through other threads on this topic and saw that the numbers are different in different threads. I wanted to understand the assumptions/logic behind it so that I can decide whether it makes sense for me.


also can check links bottom of main post with detailed calculations.




if ur talking about rent, wallet.. yes. Otherwise, not all cards exclude same categories for eaening rewards. Check appropriate card details or find them in my signature.

Yes, as tourists, we'd mostly swipe on hotels, restaurants/eateries, shops, local transport, and tourist attractions. We don't know if any of them would have a pos machine with excluded mcc. So, there is always a degree of uncertainty when we use our cards offline abroad.

Which card would you suggest that would provide positive return in general spend despite forex no mater what?
 
Well, from your quoted thread, Atlas gets 5 EM/₹100 for travel spends. So, for 5L spent on travel, you get 25K EM. There is an additional 2.5K EM for reaching 3L spent milestone. I'm excluding joining bonus 2.5K EM as that is not available in silver tier from second year onward. Now, if we consider 1EM = ₹1, we get ₹27.5K. Deduct the annual fee of ₹5.9K and we're left with ₹19.1K. So, effective reward rate is 3.82%. Even if you consider the 2.5K EM as joining bonus, we get 4.32%. So, how did you get 5% as lowest value? I'm assuming that's what you meant by "5%+ (Flights/Hotels) on 5L spends".

5L spends.. (check again comparison thread which has two different tables and multiple scenarios)

= 25k EM

+ 5K EM (Joining + Bonus) 1st year

(2nd year, check hidden table in comparison post, click that button)

1EM = ₹2 to ₹1 (depends on redemption, check comparison thread for possible options)

if its accor its 1 EM = 2 AP (₹3.6)

// there are multiple partners which provides 1 EM = ₹2 (1:2)

5L Spends/Year30K EM to 15K EM - 5.9K Fee (JF)
= 10.82% to 1.82%

Net Return:


Ranges in percentage (e.g., 9.4% to -0.27%) explain best-to-worst-case returns (possible return on your spending after factoring in joining fees, and milestone bonuses for specific spending levels).
  • Left Value (e.g., 9.4%)
    • This is the maximum reward rate achievable through optimal usage, like earning on Travel Edge purchases and redeeming at a high value (e.g., 1 mile = 2 INR). This rate takes effort but can be reached with strategic spending.
  • Right Value (e.g., -0.27%)
    • This is the minimum achievable rate through regular spending and basic redemption (e.g., 1 mile = 1 INR). This is straightforward and possible for all cardholders.
  • So, for any given spending amount, you can expect a reward rate between these two values. The lower end is your minimum return, while the upper end is achievable with careful planning.

So, out of 10% - (forex fee, GsT) = atleast 5%.

As mentioned comparison post is very detailed with multiple combinations, from lowest possible value to highest possible value and in my posts its always first year fee and benefits, renewals usually separate (if going to redeem in 2nd year, because many of them here didn't like that).

Which card would you suggest that would provide positive return in general spend despite forex no mater what?

my answer still same, no changes.. its up to you to choose based on your convenience and intended redemption.

Other thread that you shared also mentioned same, but u only picked for your assumption "base rr and redemption as transfer partner = 4%", same thread mentioned accor = 18%, others atleast 10% in that table.

 
Yes, as tourists, we'd mostly swipe on hotels, restaurants/eateries, shops, local transport, and tourist attractions. We don't know if any of them would have a pos machine with excluded mcc. So, there is always a degree of uncertainty when we use our cards offline abroad.

this applies for every card and always with test transaction before going big purchase. no card 100% perfect when its POS doing the changes.

still that 0 rewarding card can charge extra surcharge based on POS machine, or rewarding card gives net positive even after surcharge. Its upto you whichever way u want to think.
 
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