Best card for online forex spending

[enlightedinvestor]

Hi,

I wanted to know best card from the below for online forex spending (mostly for exam fees & application fees)

1. HDFC Millenia
2. ICICI Amazon Pay
3. IDFC Millenia
4. Axis My Zone
5. AU Xcite Ace
6. Indusind Legend
7. SC platinum rewards
8. Kotak League (Rupay)

 

[credit_debit]

Most of the cards including the ones in the list will charge forex markup fees of around 3.5%. IndusInd Legend charges 1.8%
Try getting Scapia, IDFC Wow -fd Based, RBL Safari (0%), Indusind Tiger (1.5%) markup fee. SBI cashback used to give 5% CB on these transactions resulting into effective cashback of ~1%, but now it's more of MCC play and uncertain.
Best and fastest debit card way is to get RBL Signature Plus debit card or Indusind card with 0% forex markup.

 

[enlightedinvestor]

Got it. Thank you.
I guess if I have to use credit card for forex then I should go for IndusInd Legend (and may be spend on weekend for get 1.5% reward but do we get rewards on forex spending in IndusInd)

 

[Lord Of Darkness]

I have some international transactions worth about 2 lakhs. What would be the best card to use?
Any suggestions plz? I have the following cards

- Axis Magnus ( dont think using it makes sense anymore, since i am not a Burgundy member)
- Amex Platinum
- HDFC Diners Black
- IDFC Wealth
- SCB Ultimate.

I think Amex platinum charge gives 3X points for international spends, but they charge almost 4% markup fee. Any suggestions plz to maximize rewards?

 

[sourpai]

I have some international transactions worth about 2 lakhs. What would be the best card to use?
Any suggestions plz? I have the following cards

- Axis Magnus ( dont think using it makes sense anymore, since i am not a Burgundy member)
- Amex Platinum
- HDFC Diners Black
- IDFC Wealth
- SCB Ultimate.

I think Amex platinum charge gives 3X points for international spends, but they charge almost 4% markup fee. Any suggestions plz to maximize rewards?

Stan C Ultimate charges 3.5% + GST, but gives cashback of 1.5% on international transactions. Reward rate 3.33%
HDFC Dinners black charges 2% + GST and gives cashback upto 1000 or 1% max if global value program is activated. Reward rate 3.33%
IDFC Wealth charges you 1.5% + GST and gives ~2.35% reward rate

Do these calculations and you have an answer. Amex platinum I wouldn't recommend, but its your call. Other parameters would include milestone benefits etc for card like Dinners black

 

[Lord Of Darkness]

Stan C Ultimate charges 3.5% + GST, but gives cashback of 1.5% on international transactions. Reward rate 3.33%
HDFC Dinners black charges 2% + GST and gives cashback upto 1000 or 1% max if global value program is activated. Reward rate 3.33%
IDFC Wealth charges you 1.5% + GST and gives ~2.35% reward rate

Do these calculations and you have an answer. Amex platinum I wouldn't recommend, but its your call. Other parameters would include milestone benefits etc for card like Dinners black

Hey thanks for your feedback.
If I use the HDFC DCB, is there any cap on reward points? like if i spend around 2 lakh , so would I be getting 6600 points?

 

[Lord Of Darkness]

Hey thanks for your feedback.
If I use the HDFC DCB, is there any cap on reward points? like if i spend around 2 lakh , so would I be getting 6600 points?

Stan C Ultimate charges 3.5% + GST, but gives cashback of 1.5% on international transactions. Reward rate 3.33%
HDFC Dinners black charges 2% + GST and gives cashback upto 1000 or 1% max if global value program is activated. Reward rate 3.33%
IDFC Wealth charges you 1.5% + GST and gives ~2.35% reward rate

Do these calculations and you have an answer. Amex platinum I wouldn't recommend, but its your call. Other parameters would include milestone benefits etc for card like Dinners black

I was planning to use DCB but unfortunately, it is not accepted by the vendor. So I am left with Amex Platinum or Stan C ultimate. Stan C ultimate the only prob is pathetic redemption options. AMEX platinum would give 7.5 MR/100 rs

 

[kanaiyajain]

You can use the SBI cashback Card for Forex Payments. You pay 3.5%+ GST and Get 5% Cashback.

 

[enlightedinvestor]

You can use the SBI cashback Card for Forex Payments. You pay 3.5%+ GST and Get 5% Cashback.

wont get 5% cashback in sbi cashback as it would be considered as education expense and no cashback.