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.

 

[varunsridharan]

Hello everyone,

I'm seeking some advice regarding credit cards with 0% markup fee for international transactions. Currently, I spend around 20k - 30k monthly on international purchases, and I want to avoid any additional fees or charges associated with foreign transactions.

After some research, I discovered the IDFC First WOW credit card, which offers 0% markup fee for international transactions. I decided to apply for this card; however, there are a few concerns I'd like to address.

Firstly, the IDFC First WOW card is based on a fixed deposit (FD), and at the moment, I don't have a substantial amount of money available to put into an FD. This makes it somewhat inconvenient for me to acquire this card.

Additionally, the billing dates of the IDFC First WOW card are scheduled from the 18th to the 24th of each month. Unfortunately, these dates don't align with my preferred payment date, which falls between the 5th and 12th of every month.

Considering my situation, I am also open to the idea of applying for a prepaid card with a 0% markup fee. However, a crucial requirement for me is that the prepaid card allows funding through a credit card. This would enable me to load funds onto the prepaid card using my existing credit card, which offers more convenience.

I recently looked into the Niyo Global card, but it appears that it is also based on a fixed deposit (FD), which doesn't meet my current needs.

I would greatly appreciate any recommendations or suggestions from the community regarding credit cards or prepaid cards that offer 0% markup fee for international transactions. If there are any alternative options that provide this benefit without an FD requirement and have flexible billing dates, I am eager to explore them.

Thank you all for your support and insights!

 

[Chaitanya-a]

RBL World safari card has zero forex mark-up. But it doesn't provide any rewards for international txn. If you've magnus then that's a good option. IDFC WoW is better option as it offers 0.65% return as well.

 

[R!ppEr]

you can check RBL world safari cc

 

[varunsridharan]

RBL World safari card has zero forex mark-up. But it doesn't provide any rewards for international txn. If you've magnus then that's a good option. IDFC WoW is better option as it offers 0.65% return as well.

I already got IDFC wow but only issue is that it has lower limit of 7.3k INR as i dont have funds for FD

 

[theglobalinvestor]

Go with infinia + global access program. Net positive points.

 

[purush]

RBL world safari will help you on this case.

 

[varunsridharan]

Thanks for your response @purush, @theglobalinvestor, @R!ppEr , @Chaitanya-a

It seems that the card has annual fees of 3k + GST

any other card options ?

 

[VGisHere]

There are LTF cards which charge markup fee but also give you reward points back of same or higher value!
Good idea would be to check for those!

Coming to concern regarding IDFC Wow, even if the bill generation is 18th, then I guess there is a grace period of 20 days, correct me if I'm wrong, and you can pay on 5th.

 

[varunsridharan]

There are LTF cards which charge markup fee but also give you reward points back of same or higher value!
Good idea would be to check for those!

Coming to concern regarding IDFC Wow, even if the bill generation is 18th, then I guess there is a grace period of 20 days, correct me if I'm wrong, and you can pay on 5th.

Yes but i have a complex situation where all my credit card bills at 12th of every month and will make payment on 30th of that month and all my bank account will maintain its balance

Just 2 days there will be no balance this way but if i use wow it's not suitable and the limit is very low as i put only 7.3k into fd

 

[Chaitanya-a]

Thanks for your response @purush, @theglobalinvestor, @R!ppEr , @Chaitanya-a

It seems that the card has annual fees of 3k + GST

any other card options ?

See, zero forex mark-up cards are generally either FD based CCs, high fee CCs, Prepaid forex Cards, high NRV DCs & Neo bank DCs.

Some of them are:
1) FD based CCs like Niyo Global & IDFC WoW.

2) Neo bank DCs like Fi (above 50k Infinite account), Niyo Global Equitas DC (now available bcz of SBM Ban).

3) Prepaid forex cards like TripMoney & BookMyForex.

4) High NRV DCs like RBL Signature+ DC & Indus Exclusive DC.

5) High fee CCs like RBL World safari, and others having minimal forex mark-up whereas higher milestone rewards like Magnus, Reserve, Infinia.

 

[varunsridharan]

See, zero forex mark-up cards are generally either FD based CCs, high fee CCs, Prepaid forex Cards, high NRV DCs & Neo bank DCs.

Some of them are:
1) FD based CCs like Niyo Global & IDFC WoW.

2) Neo bank DCs like Fi (above 50k Infinite account), Niyo Global Equitas DC (now available bcz of SBM Ban).

3) Prepaid forex cards like TripMoney & BookMyForex.

4) High NRV DCs like RBL Signature+ DC & Indus Exclusive DC.

5) High fee CCs like RBL World safari, and others having minimal forex mark-up whereas higher milestone rewards like Magnus, Reserve, Infinia.

Ok understood thanks for the clarification

 

[R!ppEr]

Thanks for your response @purush, @theglobalinvestor, @R!ppEr , @Chaitanya-a

It seems that the card has annual fees of 3k + GST

any other card options ?

its FYF i think!

 

[varunsridharan]

its FYF i think!

Yes

 

[Alex292929]

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