Though India is way beyond in the Credit card game and variants but we can notice a great community is being build revolving it and the growth is great in terms of new credit card consumers in past 5-6 years. From insanely popular cashback cards to the cards for nerds, the airmiles cards, we can see a lot of variation. There are specific set of users who are like me who do a big portion of their total spends on International transitions, this thread is specially for them.
The forex markup varies between 0 - 3.5%. But hey, as the Zero markup straightaway seems to save a lot of bucks, but sometimes it's not "the best" option, which I'll discuss. Please do note, that many Debit cards also do come with 0% markup, but you do miss the extra layer of security which comes along with credit cards.
So here are the 15 credit cards which will earn / save during on your international transactions:
* Please do keep your international transaction's permission turned off when not needed for your own safety
1. Axis Reserve:
Fee: ₹50,000
Markup: 1.5%
Reward Rate: 3% (on GV) & 12% (on Loyalty Program)
Effective Reward Rate: 1.23% (on GV) & 10.23% (on Loyalty Program)
2. Citi Prestige:
Fee: ₹20,000
Markup: 3.5%
Reward Rate: 2% (on GV) & 8% (on Loyalty Program)
Effective Reward Rate: -2.13 (on GV) & 3.87% (on Loyalty Program)
3. Axis Magnus:
Fee: ₹10,000
Markup: 2%
Reward Rate: 1.2% (on GV) & 4.8% (on Loyalty Program)
Effective Reward Rate: -1.16% (on GV) & 2.44% (on Loyalty Program)
If only hitting ₹1L milestone, effective Reward Rate would be 3.84% (on GV) & 22.44% (on Loyalty Program)
4. HDFC Infinia:
Fee: NIL for first year. ₹10,000 from second year onwards
Markup: 2%
Reward Rate: 3.3% (With Global Value Program, extra 1% till ₹1L per billing cycle as Cashback)
Effective Reward Rate: 1.94% (Till ₹1L in a billing cycle)
5. HDFC DinersClub Black:
Fee: NIL for first year, ₹10,000 from second year onwards
Markup: 2%
Reward Rate: 3.3% (With Global Value Program, extra 1% till ₹1L per billing cycle as Cashback)
Effective Reward Rate: 1.94% (Till ₹1L in a billing cycle)
6. Axis One Card / Burgundy Private Credit Card:
Fee: NIL for Burgundy Private customers, if not maintained Burgundy Private, then ₹50,000
Markup: 0%
Reward Rate: 1.5% (on GV) & 6% (on Loyalty Programs)
Effective Reward Rate: 1.5% (on GV) & 6% (on Loyalty Programs)
7. AMEX Platinum Charge Card:
Fee: ₹60,000
Markup: 3.5%
Reward Rate: 7.5% (Considering 1MR = ₹1)
Effective Reward Rate: 3.37% ( Only for direct USD purchase, or else AMEX charge double markup fee by doing Native Currency > $ > Desired Currency)
8. Standard Chartered Ultimate:
Fee: ₹5,000
Markup: 3.5% (1.5% gets refunded back as Cashback)
Reward Rate: 3.3%
Effective Reward Rate: 0.67%
9. SBI Aurum:
Fee: ₹10,000
Markup: 2%
Reward Rate: 1-2.5% (Considering the monthly ₹1L milestone being achieved and getting ₹1.5K worth Tata Cliq Vouchers. If not spending ₹1L in a billing cycle, avoid using it)
Effective Reward Rate: 0.14%
10. IndusInd Pioneer Heritage Metal:
Fee: ₹1,90,000 joining fee, no annual fee (comes with various options of fee structure)
Markup: 1.8%
Reward Rate: 2.5%
Effective Reward Rate: 0.14%
11. IndusInd Bank Explorer:
Fee: Joining fee ₹40,000, Annual fee ₹10,000
Markup: 0%
Reward Rate: 1% (Pays in Club Vistara Points aka CV Points)
Effective Reward Rate: 1% (Can be maximised by completing ₹3L/₹6L/₹9L/₹12L/₹15L milestone for Business Class Voucher)
12. SBI Cashback Credit Card:
Fee: NIL for first year, ₹999 from second year onwards
Markup: 3.5%
Reward Rate: 5%
Effective Reward Rate: 0.87%
13. IDFC First Private:
Fee: ₹50,000
Markup: 0%
Reward Rate: 2.5% (Considering the spend is always above ₹30K every month, below that, avoid)
Effective Reward Rate: 2.5%
14. IDFC Wealth:
Fee: LTF
Markup: 1.5%
Reward Rate: 2.5% (Considering the spend is always above ₹30K every month, below that, avoid)
Effective Reward Rate: 0.14%
15. RBL World Safari:
Fee: ₹3,000
Markup: 0%
Reward Rate: 0% (World Safari has no RP gain on international transactions)
Effective Reward Rate: 0%
So that's all as of now. Feel free to give your input. This list will keep changing depending on the new card or changed features of the cards.
The forex markup varies between 0 - 3.5%. But hey, as the Zero markup straightaway seems to save a lot of bucks, but sometimes it's not "the best" option, which I'll discuss. Please do note, that many Debit cards also do come with 0% markup, but you do miss the extra layer of security which comes along with credit cards.
So here are the 15 credit cards which will earn / save during on your international transactions:
* Please do keep your international transaction's permission turned off when not needed for your own safety
1. Axis Reserve:
Fee: ₹50,000
Markup: 1.5%
Reward Rate: 3% (on GV) & 12% (on Loyalty Program)
Effective Reward Rate: 1.23% (on GV) & 10.23% (on Loyalty Program)
2. Citi Prestige:
Fee: ₹20,000
Markup: 3.5%
Reward Rate: 2% (on GV) & 8% (on Loyalty Program)
Effective Reward Rate: -2.13 (on GV) & 3.87% (on Loyalty Program)
3. Axis Magnus:
Fee: ₹10,000
Markup: 2%
Reward Rate: 1.2% (on GV) & 4.8% (on Loyalty Program)
Effective Reward Rate: -1.16% (on GV) & 2.44% (on Loyalty Program)
If only hitting ₹1L milestone, effective Reward Rate would be 3.84% (on GV) & 22.44% (on Loyalty Program)
4. HDFC Infinia:
Fee: NIL for first year. ₹10,000 from second year onwards
Markup: 2%
Reward Rate: 3.3% (With Global Value Program, extra 1% till ₹1L per billing cycle as Cashback)
Effective Reward Rate: 1.94% (
Till ₹1L in a billing cycle)
5. HDFC DinersClub Black:
Fee: NIL for first year, ₹10,000 from second year onwards
Markup: 2%
Reward Rate: 3.3% (With Global Value Program, extra 1% till ₹1L per billing cycle as Cashback)
Effective Reward Rate: 1.94% (
Till ₹1L in a billing cycle)
6. Axis One Card / Burgundy Private Credit Card:
Fee: NIL for Burgundy Private customers, if not maintained Burgundy Private, then ₹50,000
Markup: 0%
Reward Rate: 1.5% (on GV) & 6% (on Loyalty Programs)
Effective Reward Rate: 1.5% (on GV) & 6% (on Loyalty Programs)
7. AMEX Platinum Charge Card:
Fee: ₹60,000
Markup: 3.5%
Reward Rate: 7.5% (Considering 1MR = ₹1)
Effective Reward Rate: 3.37% (
Only for direct USD purchase, or else AMEX charge double markup fee by doing Native Currency > $ > Desired Currency)
8. Standard Chartered Ultimate:
Fee: ₹5,000
Markup: 3.5% (1.5% gets refunded back as Cashback)
Reward Rate: 3.3%
Effective Reward Rate: 0.67%
9. SBI Aurum:
Fee: ₹10,000
Markup: 2%
Reward Rate: 1-2.5% (
Considering the monthly ₹1L milestone being achieved and getting ₹1.5K worth Tata Cliq Vouchers. If not spending ₹1L in a billing cycle, avoid using it)Effective Reward Rate: 0.14%
10. IndusInd Pioneer Heritage Metal:
Fee: ₹1,90,000 joining fee, no annual fee (comes with various options of fee structure)
Markup: 1.8%
Reward Rate: 2.5%
Effective Reward Rate: 0.14%
11. IndusInd Bank Explorer:
Fee: Joining fee ₹40,000, Annual fee ₹10,000
Markup: 0%
Reward Rate: 1% (Pays in Club Vistara Points aka CV Points)
Effective Reward Rate: 1% (Can be maximised by completing ₹3L/₹6L/₹9L/₹12L/₹15L milestone for Business Class Voucher)
12. SBI Cashback Credit Card:
Fee: NIL for first year, ₹999 from second year onwards
Markup: 3.5%
Reward Rate: 5%
Effective Reward Rate: 0.87%
13. IDFC First Private:
Fee: ₹50,000
Markup: 0%
Reward Rate: 2.5% (
Considering the spend is always above ₹30K every month, below that, avoid)Effective Reward Rate: 2.5%
14. IDFC Wealth:
Fee: LTF
Markup: 1.5%
Reward Rate: 2.5% (
Considering the spend is always above ₹30K every month, below that, avoid)Effective Reward Rate: 0.14%
15. RBL World Safari:
Fee: ₹3,000
Markup: 0%
Reward Rate: 0% (World Safari has no RP gain on international transactions)
Effective Reward Rate: 0%
So that's all as of now. Feel free to give your input. This list will keep changing depending on the new card or changed features of the cards.
