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

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hritiksakshi

hritiksakshi

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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?
 
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Pankhuri said:
Payment amount - 2000GBP = 210942.72
Date - 14/12/23
Extra charges - 3733.69
Points earned - 19895(12657+7238) ~ 4973INR
Reward - 0.587%
Click to expand...
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.
 
techt said:
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.
Click to expand...
Yeh. Mine is low because this was first transaction on card. So first 30k was in 6x and not 10x.
 
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.
 
NeoOnWheels said:
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.
Click to expand...
Infinia with Global Value program - without any second thoughts!! (y)
 
NeoOnWheels said:
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.
Click to expand...
Try Yes Reserve with 5x
All Foreign online travel/dining/fashion/healthcare spends
give 9.00--2.07% forex markup
 
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
 
travel2live said:
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
Click to expand...
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
 
sourpai said:
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
Click to expand...
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
 
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
 
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
 
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