Want the best credit card with 0 forex markup fees.

[dadofjohnwick]

Hi fellow enthusiasts, so in the coming 1-2 years I will be applying for foreign universities and exams which take fees in dollars; so I'm assuming there'll be a foreign markup when I pay using credit card. So I am looking for the best credit cards with 0 markup fees and max benefits. Pls recommend suitable card suggestions.

 

[CVR]

rbl world safari.. no other major benefit besides zero forex markup

 

[palen]

IDFC wow (secured card).

 

[Chaitanya-a]

Magnus is pretty good if you want reward as well. You'll end up getting more rewards than forex charge paid.

If you just want zero forex card with minimal reward, then take IDFC WoW secured card. It gives 0.65% reward rate with zero forex charges.

I won't recommend RBL World safari card coz there isn't any Reward for international txn. Just zero forex card. Paying 3k fee for this card is waste of money.

 

[Rohit_Gupta]

Magnus is pretty good if you want reward as well. You'll end up getting more rewards than forex charge paid.

If you just want zero forex card with minimal reward, then take IDFC WoW secured card. It gives 0.65% reward rate with zero forex charges.

I won't recommend RBL World safari card coz there isn't any Reward for international txn. Just zero forex card. Paying 3k fee for this card is waste of money.

Hey Buddy I am relocating to Europe but would be spending lot of money in flights and hotel booking to make a move.

Also, I want to make use of indian credit cards once I go there. Do you think magnus would make sense?

My goal here is to accumulate points and make my travel (Europe to india and vise versa) free/subsidised.

If you feel any other card can help serve the purpose please redirect.

Thank you so much in advance 🙂

 

[Chaitanya-a]

Hey Buddy I am relocating to Europe but would be spending lot of money in flights and hotel booking to make a move.

Also, I want to make use of indian credit cards once I go there. Do you think magnus would make sense?

My goal here is to accumulate points and make my travel (Europe to india and vise versa) free/subsidised.

If you feel any other card can help serve the purpose please redirect.

Thank you so much in advance 🙂

Its so simple to choose.

Magnus is best if you're able to achieve monthly milestone (>1L) as FX txns are counted for that as well. Then it'll effectively offer 4-5% reward rate (after deducting FX markup of 2%). This card can suffice all your spendings there.

If your monthly spendings are going to be less than 1L, then go for IDFC WoW secured card. As FX markup is nil and it'll offer 0.65% reward rate.

 

[Alex292929]

can we use hdfc multicurrency forex card for online international txn?

 

[netsec]

Axis Magnus
HDFC Infinia
IDFC Wealth
Amex Platinum
These cards are really good for foreign transactions. Global acceptance plus good reward points.

 

[Alex292929]

can we use hdfc multicurrency forex card for online international txn?

can anyone confirm?

 

[ak93]

can we use hdfc multicurrency forex card for online international txn?

You can. Forex card is specifically for international txns! Are you looking for somethings specific?

 

[gurbina]

Axis Magnus
HDFC Infinia
IDFC Wealth
Amex Platinum
These cards are really good for foreign transactions. Global acceptance plus good reward points.

AMEX plat is a poor choice here. Fairly high forex markup 3.5% + GST and the reward value you get it from it it's very poor.

AMEX plat is good for hotel statuses, FHR, mostly luxury travel and spends, concierge but you'll also get good useful and rather big discounts/promotions in several brands and for travel too.

American Express Offers | American Express India

Discover and take advantage of all the exclusive AmEx offers available when you use your card - from health & wellness to travel & stays. Find out more.

www.americanexpress.com

A better and MUCH more rewarding alternative is Axis Reserve + Magnus. Get the 1L spends on Magnus, the rest on the Reserve.

Now with 20% TCS coming up even if it is after 7L you might want to ditch this idea unless you can afford having 20% of that money with the income tax department until you get a refund, and also you're good at doing your tax filing because it might get very messy.

 

[theglobalinvestor]

Don't forget 20% TCS on international transactions.

 

[Alex292929]

You can. Forex card is specifically for international txns! Are you looking for somethings specific?

So, I have to do a $2000 online transaction in august, there are no charges with forex card except loading charges right?

 

[Alex292929]

So If I load $2000 they will charge me only 180 + 0.09% & for doing a online txn there is no extra charge as currency is already converted into usd

please tell me if I am missing anything
thankyou

 

[Avid_snake]

can we use hdfc multicurrency forex card for online international txn?

Yes. But it is a prepaid card so no reward points on any of your spends

 

[Avid_snake]

So If I load $2000 they will charge me only 180 + 0.09% & for doing a online txn there is no extra charge as currency is already converted into usd

please tell me if I am missing anything
thankyou
View attachment 18416

If your total forex transaction for the year is only this, then there should be no other charges.

Any transaction above 7 lacs in a year will have TCS now even in forex card. But there is no clarity on how this limit will be check and implemented

 

[Alex292929]

Yes. But it is a prepaid card so no reward points on any of your spends

I am new with cc's so I don't have any premium cards right now & if I use entry level card I am only going to lose money

 

[Alex292929]

If your total forex transaction for the year is only this, then there should be no other charges.

Any transaction above 7 lacs in a year will have TCS now even in forex card. But there is no clarity on how this limit will be check and implemented

got it, thankyou

 

[Avid_snake]

I am new with cc's so I don't have any premium cards right now & if I use entry level card I am only going to lose money

You can get IDFC Wow card. It is a secured card. You need to have an FD to get this card. If you have the additional money in some other FD, you can shift it to IDFC to get this card. No forex charges and limited reward points.

 

[ak93]

So If I load $2000 they will charge me only 180 + 0.09% & for doing a online txn there is no extra charge as currency is already converted into usd

please tell me if I am missing anything
thankyou
View attachment 18416

Correct, you can use without additional charges for all currencies supported.