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.

 

[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.

 

[Alex292929]

max

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.

IDFC allows fd upto 1L only & I have to do a txn of more then that

 

[Avid_snake]

max

IDFC allows fd upto 1L only & I have to do a txn of more then that

Check directly with the branch if they will allow higher limit at higher FD. As your need is around 1.6-1.7 lacs, they may agree to a 2L limit

 

[Recktreck]

IndusInd exclusive/ pioneer debit card gives you 0 Forex markup and you earn reward points too.

Have used pioneer debit in a lot of countries without any issue.

 

[Alex292929]

these debit card comes with which ac variant?

 

[CARDBITRAGE]

these debit card comes with which ac variant?

Cards are namesake of the account variant

 

[sourpai]

max

IDFC allows fd upto 1L only & I have to do a txn of more then that

Are you sure about 1L limit?

I have FD of 3L and IDFC WoW card with 3L limit

 

[Alex292929]

Are you sure about 1L limit?

I have FD of 3L and IDFC WoW card with 3L limit

as far as I remember when I was opening idfc wow for my sister they allowed 1L fd at max.
do you have a ac with idfc?