Zero Forex + Reward Points = Net gain card for forex spends

[hritiksakshi]

As the title summarizes, i am looking for a card which i can utilize for my upcoming abroad trip.

i have DCB (with 2% markup - 1% GLOBAL VALUE + 3.33% REWARD RATE) but that's not acceptable at most places in europe. The NIYOX Equitas Debit card will be the go to backup option.

I am looking for a credit card which provides net positive reward rate for forex transactions (i.e. even if markup, it is compensated by reward rate)

I know of two such cards
1) HDFC Infinia - not able to get it
2) Axis Reserve - Fees are too high for me

Other options
1) IDFC WOW
2) SCAPIA - not eligible due to holding federal one card
3) RBL WORLD SAFARI

all three of them offer 0% forex but no rewards on forex transactions.

Is there any card which fulfills the criteria?

 

[HumorSimpson]

Payment amount - 2000GBP = 210942.72
Date - 14/12/23
Extra charges - 3733.69
Points earned - 19895(12657+7238) ~ 4973INR
Reward - 0.587%

Assuming you have already hit 30K milestone ,
forex conv. is 1.5% + 18 % GST. effective charge = 1.5*1.18 = 1.77
cashback is 2.5 % so effectively it is 2.5 - 1.77 = 0.73.
Is this calculation correct.

 

[Pankhuri]

Assuming you have already hit 30K milestone ,
forex conv. is 1.5% + 18 % GST. effective charge = 1.5*1.18 = 1.77
cashback is 2.5 % so effectively it is 2.5 - 1.77 = 0.73.
Is this calculation correct.

Yeh. Mine is low because this was first transaction on card. So first 30k was in 6x and not 10x.

 

[HumorSimpson]

Yeh. Mine is low because this was first transaction on card. So first 30k was in 6x and not 10x.

understood from your post. But just wanted to be sure if there is anything that I might miss.

 

[R@J]

@S S V Ab toh isme Yes Marquee bhi net positive return dega....if we consider travel redemption@ Rs 0.25?

 

[SSV]

@S S V Ab toh isme Yes Marquee bhi net positive return dega....if we consider travel redemption@ Rs 0.25?

Yes correct ..

 

[NeoOnWheels]

I am planning a trip to Switzerland/Greece this year and right now have - HDFC Infinia, ICICI Sapphiro, AMEX PlatTravel and SBI Elite card. Which one should be my default goto card? All I want is returns in net positive.

 

[R@J]

I am planning a trip to Switzerland/Greece this year and right now have - HDFC Infinia, ICICI Sapphiro, AMEX PlatTravel and SBI Elite card. Which one should be my default goto card? All I want is returns in net positive.

Infinia with Global Value program - without any second thoughts!! 👍

 

[drsel]

I am planning a trip to Switzerland/Greece this year and right now have - HDFC Infinia, ICICI Sapphiro, AMEX PlatTravel and SBI Elite card. Which one should be my default goto card? All I want is returns in net positive.

Try Yes Reserve with 5x
All Foreign online travel/dining/fashion/healthcare spends
give 9.00--2.07% forex markup

 

[travel2live]

Has someone use IDFC card for cash withdrawal. I have just taken IDFC wow card, have IDFC wealth as well as DCB, Zenith

Planning to use following combination--- IDFC Wow for one time cash withdrawal, read that it has zero markup and one time fees of 199. do let me know if I am missing something

Combination of DCB and Zenith for swipe transaction as both give a positive reward even after markup.

Please suggest if this is fine or I can add something to this

 

[sourpai]

Has someone use IDFC card for cash withdrawal. I have just taken IDFC wow card, have IDFC wealth as well as DCB, Zenith

Planning to use following combination--- IDFC Wow for one time cash withdrawal, read that it has zero markup and one time fees of 199. do let me know if I am missing something

Combination of DCB and Zenith for swipe transaction as both give a positive reward even after markup.

Please suggest if this is fine or I can add something to this

Yes.. I have used IDFC Wow for withdrawal multiple times. Go ahead with your strategy.

Just use the card in ATM machines outside of airport / big malls so that there are no additional charges

For DCB, you can also activate GVP by calling customer care to save additional 1% on forex charges

 

[travel2live]

Yes.. I have used IDFC Wow for withdrawal multiple times. Go ahead with your strategy.

Just use the card in ATM machines outside of airport / big malls so that there are no additional charges

For DCB, you can also activate GVP by calling customer care to save additional 1% on forex charges

Yes I called customer care and already given the request for GVP. Not sure if I will get any message of activation, since its already 3/4 days that I gave the request

 

[NeelJain]

Completely Off topic - but I need to my 2360 GBP CIMA fees - which card will be best ( want to reduce impact of FX markup)

I'm new to this portal so please excuse if I am asking questions on wrong forum

 

[iamabhisekagar]

Completely Off topic - but I need to my 2360 GBP CIMA fees - which card will be best ( want to reduce impact of FX markup)

I'm new to this portal so please excuse if I am asking questions on wrong forum

What Credit Card do you have?

 

[NeelJain]

What Credit Card do you have?

Buddy, just HDFC Millenia - but let me know if there is any other better CC or DC will get it arranged

 

[drsel]

Buddy, just HDFC Millenia - but let me know if there is any other better CC or DC will get it arranged

Magnus Burgundy for 14.00% return (less 2.36% forex fee) on spends over 1.5 lakh
Get it arranged!

 

[iamabhisekagar]

Buddy, just HDFC Millenia - but let me know if there is any other better CC or DC will get it arranged

Pound me sirf ek baar pay Krna h ya future me phir Krna padega?

 

[NeelJain]

Pound me sirf ek baar pay Krna h ya future me phir Krna padega?

fees toh one-time hai but pass hone pe membership yearly pay karunga

 

[iamabhisekagar]

Make an account on Niyo App (Select DCB Bank)...This will fetch you Niyo DCB Debit Card...it has 0 forex Markup fees

Keep in Mind DCB Bank has a habit of deducting 20% extra amount which will get refunded after 10-12 days

 

[NeelJain]

Magnus Burgundy for 14.00% return (less 2.36% forex fee) on spends over 1.5 lakh
Get it arranged!

Thanks, someone I know has this card.

 

[NeelJain]

Make an account on Niyo App (Select DCB Bank)...This will fetch you Niyo DCB Debit Card...it has 0 forex Markup fees

Keep in Mind DCB Bank has a habit of deducting 20% extra amount which will get refunded after 10-12 days

thanks bro, abhi banata hoon