Best Zero Forex Markup Credit Cards in India (2026)

Save 3.5%–4% on foreign currency transactions when traveling abroad or shopping on international websites.

Best Zero Forex Markup Credit Cards in India 2026

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Axis Bank Burgundy Private Credit Card by Axis Bank
Joining Fee ₹50,000 + Taxes
Annual Fee ₹50,000 + Taxes
Best Suited For Axis Burgundy Private Banking Clients & Ultra-High Net Worth Travelers
Rewards Type Reward Points

Rewards Rate

15 EDGE Reward points per ₹200 spent on retail and international transactions

Welcome Benefits

30,000 EDGE Reward points, or a luxury welcome gift, on activation

Card Details +

Key Advantages

  • ✓ Points transfer at 5:4 to 20+ airline and hotel partners (5:2 for Lotusmiles, Finnair Plus & British Airways Club)
  • ✓ Unlimited complimentary domestic and international lounge access for primary and add-on cardholders, plus guests
  • ✓ Zero forex markup on international spends

Limitations

  • ✕ Massive upfront annual card fee barrier of ₹50,000 for standard applications
  • ✕ Requires strict adherence to multi-crore private banking wealth benchmarks with Axis Bank
  • ✕ Reward points collection excludes baseline routine categories like fuel and rent
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Kotak Solitaire Credit Card by Kotak Bank
Joining Fee Nil (1st Year Free)
Annual Fee ₹25,000 + Taxes
Best Suited For Frequent Travelers looking for Zero Forex Fees and Unlimited Lounge Access
Rewards Type Reward Points

Rewards Rate

10 Air Miles per ₹100 spent on flight and hotel bookings via the Kotak Unbox platform; 3 Air Miles per ₹100 spent on all other purchase categories

Welcome Benefits

No disclosed joining bonus; value comes primarily from ongoing travel benefits

Card Details +

Key Advantages

  • ✓ 10 Air Miles per ₹100 on flights and hotels booked via Kotak Unbox, roughly 10% back in miles
  • ✓ Zero forex markup on international transactions
  • ✓ Unlimited domestic lounge access via DreamFolks and unlimited international access via Priority Pass, for primary and add-on cardholders
  • ✓ Discounted stays and free nights at ITC Hotels, Elivaas Villas and Alaya Stays

Limitations

  • ✕ High standard annual maintenance fee barrier of ₹25,000 if not a Solitaire Program account holder
  • ✕ Extremely weak value across non-travel lifestyle verticals like shopping, dining, and movies
  • ✕ Accelerated rewards optimization and prime 1:1 reward redemptions are exclusively locked inside the Kotak Unbox platform
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Axis Bank Primus Credit Card by Axis Bank
Joining Fee ₹50,000* Plus Applicable Taxes
Annual Fee ₹50,000* Plus Applicable Taxes
Best Suited For Ultra-High Net Worth Individuals (UHNWIs), Elite Global Lifestyle, and High-Parity Travel Miles Conversion
Rewards Type Reward Points

Rewards Rate

1 EDGE Mile per ₹100 spent, transferable at 1:5 to 20+ airline & hotel partners including Marriott, Qatar Airways & Singapore Airlines

Welcome Benefits

Choose any 1 option from: 25,000 EDGE Miles OR an ITC Hotels e-gift card worth ₹40,000 for participating properties

Card Details +

Key Advantages

  • ✓ Choice of a substantial welcome bonus: EDGE Miles or an ITC Hotels e-gift card
  • ✓ Airport meet-and-assist and luxury vehicle transfer services included
  • ✓ Generous guest allowance for lounge visits
  • ✓ Zero forex markup on international spends
  • ✓ Companion airfare offers on select bookings

Limitations

  • ✕ Requires high up-front membership fee parameters if not optimized via private banking program balances
  • ✕ Strictly restricted via specialized invitation parameters from the issuer
  • ✕ Optimized features are predominantly weighted into global premium travel and luxury hotel categories over domestic day-to-day shopping categories
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PNB LUXURA Visa Credit Card by Punjab National Bank
Joining Fee Lifetime Free
Annual Fee Free
Best Suited For High-income Travelers, Unlimited Lounge Access, and Zero Forex Spends
Rewards Type Reward Points

Rewards Rate

4 reward points per ₹100 spent on regular transactions; accelerated 3X reward points (12 points per ₹100 spent) on dining and travel spends; 1 Reward Point = ₹0.25

Welcome Benefits

N/A

Card Details +

Key Advantages

  • ✓ 0% forex markup on international spends
  • ✓ Unlimited complimentary airport lounge access worldwide
  • ✓ 3X reward points on dining and travel
  • ✓ Issued as a metal card

Limitations

  • ✕ High minimum income requirement
  • ✕ Reward cash conversion ratio settles at a modest baseline floor of 4 points = ₹1 value
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IDFC FIRST WOW! Black Credit Card by IDFC FIRST Bank
Joining Fee 1st Year Fee: ₹750* Plus Applicable Taxes
Annual Fee 1st Year Fee: ₹750* Plus Applicable Taxes
Best Suited For Travel Spends, Zero Forex Markups, and New-to-Credit Builders
Rewards Type Reward Points

Rewards Rate

Up to 16.7% bonus rewards or value-back on travel booking allocations; features tiered multiplier reward rates across multiple spending categories

Welcome Benefits

N/A

Card Details +

Key Advantages

  • ✓ Up to 16.7% value back on travel bookings
  • ✓ 0% forex markup on international spends
  • ✓ 25% discount on movie tickets
  • ✓ A useful option for building or repairing credit history, since it's FD-backed

Limitations

  • ✕ Requires upfront collateral commitment in an IDFC FIRST Fixed Deposit to back card limits
  • ✕ Standard joining fee applies, unlike the basic zero-fee unsecured variant cards
  • ✕ Top travel rewards only apply when booking through IDFC FIRST's own app or channels
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IDFC FIRST Mayura Credit Card by IDFC FIRST Bank
Joining Fee ₹5,999* Plus Applicable Taxes
Annual Fee ₹5,999* Plus Applicable Taxes
Best Suited For High-Income Individuals, Frequent International Travel, and Airport Lounge Access
Rewards Type Reward Points

Rewards Rate

Up to 10X reward points on monthly spends above ₹20,000; 1 Reward Point = ₹0.25

Welcome Benefits

12,000 Reward Points (4,000 on joining + 4,000 each on ₹20,000 spend in statement cycles 2 & 3) + up to ₹4,000 cashback on first 4 transactions within 60 days

Card Details +

Key Advantages

  • ✓ Premium metal card design offering high status value
  • ✓ Zero foreign exchange markup fee applied on international spends
  • ✓ Generous international airport lounge policy providing 16 complimentary visits per year
  • ✓ Accelerated 10X reward point multiplier easily unlocked via a ₹20,000 monthly spend threshold

Limitations

  • ✕ Low cash conversion reward redemption parity threshold set at 1 point = ₹0.25
  • ✕ Low net effective value-back yield of just 1.66% even at the maximum 10X reward point accumulation rate
  • ✕ High upfront annual maintenance card fee barrier of ₹5,999 with an absolute absence of a spend-based fee waiver
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HSBC RuPay Cashback Credit Card by HSBC Bank
Joining Fee 1st Year Fee: ₹499* Plus Applicable Taxes
Annual Fee 1st Year Fee: ₹499* Plus Applicable Taxes
Best Suited For UPI Payments, Dining Spends, and Everyday Household Groceries via Direct Cashback
Rewards Type Cashback

Rewards Rate

10% cashback on dining, grocery, and food delivery spends; 1% cashback on other eligible spends, including UPI transactions; Cashback is capped at ₹400 per month

Welcome Benefits

₹500 cashback upon downloading and logging into the HSBC India mobile banking app and spending ₹10,000 within 30 days of card issuance (applicable till 31 Mar 2026); Complimentary 2-month EazyDiner Prime membership on card activation (if activated between 15 July 2025 and 31 Mar 2026)

Card Details +

Key Advantages

  • ✓ 10% cashback on dining, groceries and food delivery
  • ✓ 1% cashback on UPI payments via the RuPay network
  • ✓ Zero foreign exchange transaction markup fees until 30 June 2026
  • ✓ Cashback credited directly to your statement, no point conversion needed
  • ✓ Fee waived on ₹2 lakh in annual spend

Limitations

  • ✕ Tight monthly billing cycle cashback earning cap strictly limited to a maximum of ₹400
  • ✕ Completely excludes all international and foreign currency spends from earning any cashback value back
  • ✕ Extensive list of day-to-day transaction exclusions (fuel, utilities, insurance, rent, wallet top-ups, education, and govt fees) that yield zero cashback returns
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IDFC FIRST WOW! Credit Card by IDFC FIRST Bank
Joining Fee Lifetime Free
Annual Fee Free
Best Suited For Building Credit Score, Zero Forex International Spends & FD Backed Safety
Rewards Type Reward Points

Rewards Rate

4 Reward Points per ₹200 spent (~0.50% return); Points never expire

Welcome Benefits

100% credit limit against Fixed Deposit (Min. ₹20,000 FD required)

Card Details +

Key Advantages

  • ✓ 100% Lifetime Free credit card with zero joining and zero renewal fees
  • ✓ 0% foreign currency markup fee on international transactions
  • ✓ Instant 100% credit limit issuance against your IDFC FIRST Bank Fixed Deposit (Min ₹20,000)
  • ✓ Earn 4 Reward Points per ₹200 spent with lifetime validity and no expiration
  • ✓ No income proof or credit score documentation required for approval

Limitations

  • ✕ Requires opening a minimum ₹20,000 auto-renewing Fixed Deposit with IDFC FIRST Bank
  • ✕ No domestic or international airport lounge access included
  • ✕ Utility and insurance spends earn reduced 1 Reward Point per ₹200 spent
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Scapia Credit Card by Federal Bank
Joining Fee Lifetime Free
Annual Fee Free
Best Suited For Frequent Travelers, Zero Forex International Spends & Unlimited Domestic Lounge Access
Rewards Type Reward Points

Rewards Rate

20% Scapia Coins on Scapia app travel bookings (~4% return); 10% Scapia Coins on other eligible spends (~2% return)

Welcome Benefits

Instant virtual card issuance upon approval + unlimited Scapia Coins redemption on travel

Card Details +

Key Advantages

  • ✓ 100% Lifetime Free travel credit card with zero joining and annual fees
  • ✓ Absolute 0% foreign exchange transaction markup fee on international expenditures
  • ✓ Unlimited domestic airport lounge access upon spending ₹20,000 in a billing cycle
  • ✓ High 20% Scapia Coins earning rate on flight and hotel bookings via Scapia app
  • ✓ RuPay credit card variant available with native UPI payment support

Limitations

  • ✕ Scapia Coins can only be redeemed for flight and hotel bookings inside the Scapia app
  • ✕ No Scapia Coins awarded on fuel, rent, wallet, utility, insurance, or international spends
  • ✕ Unlimited lounge access requires hitting the ₹20,000 monthly spend threshold
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Lumiere Credit Card by RBL Bank
Joining Fee ₹50,000 + Taxes
Annual Fee ₹50,000 + Taxes
Best Suited For Golf Privileges & International Rewards
Rewards Type Reward Points

Rewards Rate

4 Reward Points per ₹200 spent (~2%); 20 points per ₹200 (10%) via the Lumiere rewards portal

Welcome Benefits

Welcome gift benefit on card activation & joining fee payment

Card Details +

Key Advantages

  • ✓ Unlimited domestic and international lounge access for cardholder and guests
  • ✓ Golf privileges for the primary cardholder
  • ✓ Complimentary airport meet-and-greet service, zero forex markup
  • ✓ Fee waiver threshold (Annual fee waived on ₹3 Lakh annual retail spends)

Limitations

  • ✕ ₹50,000 annual fee, waived only for ₹2 Crore+ Total Relationship Value clients
  • ✕ Invite-only; not available for direct public application
  • ✕ Golf privileges are limited to the primary cardholder only
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IDFC FIRST Quantum+ Credit Card by IDFC FIRST Bank
Joining Fee ₹10,000 + Taxes
Annual Fee ₹10,000 + Taxes
Best Suited For Zero Forex Markup & Luxury Lounge Access
Rewards Type Reward Points

Rewards Rate

1% base cashback; 2% on online shopping spends (capped at ₹500/statement cycle)

Welcome Benefits

Welcome gift benefit on card activation & joining fee payment

Card Details +

Key Advantages

  • ✓ Zero forex markup fee on international transactions
  • ✓ 2% cashback on online shopping spends
  • ✓ 1% base cashback on all other spends
  • ✓ Fee waiver threshold (Annual fee waived on ₹10 Lakh annual retail spends)

Limitations

  • ✕ No airport lounge access despite the premium ₹10,000 fee
  • ✕ Total cashback capped at ₹500 per statement cycle
  • ✕ High fee-to-benefit ratio compared to IDFC FIRST Wealth (lifetime free)
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IDFC FIRST Business Multiplier Credit Card by IDFC FIRST Bank
Joining Fee ₹2,999 + Taxes
Annual Fee ₹2,999 + Taxes
Best Suited For Multiplied Business Tax & Commercial Spends
Rewards Type Reward Points

Rewards Rate

10 Reward Points per ₹200 spent, up to ₹1 Lakh monthly spend; 5 points per ₹200 thereafter

Welcome Benefits

Welcome gift benefit on card activation & joining fee payment

Card Details +

Key Advantages

  • ✓ 10 Reward Points per ₹200 spent, up to ₹1 Lakh monthly spend
  • ✓ 8 complimentary domestic + international lounge visits/year
  • ✓ Zero forex markup on international transactions
  • ✓ Fee waiver threshold (Annual fee waived on ₹5 Lakh annual retail spends)

Limitations

  • ✕ FD-backed card requires a ₹50,000 fixed deposit
  • ✕ Reward rate halves to 5 points per ₹200 beyond ₹1 Lakh monthly spend
  • ✕ Lounge access requires ₹20,000 spend in the preceding month
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Zero Forex Markup Cards at a Glance

Best Zero Forex Markup Credit Cards Comparison Table
Card Fee Rating
1. Axis Bank Burgundy Private Credit Card ₹50,000 + Taxes ★ 4.8 View →
2. Kotak Solitaire Credit Card ₹25,000 + Taxes ★ 3.5 View →
3. Axis Bank Primus Credit Card ₹50,000* Plus Applicable Taxes ★ 4.0 View →
4. PNB LUXURA Visa Credit Card Free ★ 4.0 View →
5. IDFC FIRST WOW! Black Credit Card 1st Year Fee: ₹750* Plus Applicable Taxes ★ 4.0 View →
6. IDFC FIRST Mayura Credit Card ₹5,999* Plus Applicable Taxes ★ 3.0 View →
7. HSBC RuPay Cashback Credit Card 1st Year Fee: ₹499* Plus Applicable Taxes ★ 3.0 View →
8. IDFC FIRST WOW! Credit Card Free ★ 4.5 View →
9. Scapia Credit Card Free ★ 4.7 View →
10. Lumiere Credit Card ₹50,000 + Taxes ★ 4.5 View →
11. IDFC FIRST Quantum+ Credit Card ₹10,000 + Taxes ★ 4.7 View →
12. IDFC FIRST Business Multiplier Credit Card ₹2,999 + Taxes ★ 4.6 View →

Frequently Asked Questions

How much does a standard credit card charge on foreign transactions?

Most Indian credit cards charge a forex markup of 2-3.5% on international transactions, plus GST. A zero-forex card eliminates this markup entirely.

Does zero forex markup apply to all foreign currency transactions?

Typically yes, including international online purchases (not just travel spends), but always confirm with your issuer since some cards limit the waiver to specific transaction types.

Are zero forex cards worth it if I rarely travel abroad?

If you regularly shop on international websites or use foreign SaaS/subscription services, a zero-forex card can save meaningfully even without physical travel.

Explore Other Card Benefits

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Lounge Access
🌐
Zero Forex
⛽
Fuel Waiver
📱
UPI & RuPay

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