International Spends Credit Cards
Zero forex markup on all international purchases
145 Cards AvailableAbout International Spends Credit Cards
Best Credit Cards for International Spends in India - 2026
Every time you swipe your Indian credit card abroad or on an international website, a foreign currency markup (also called forex markup or cross-currency fee) is levied - typically 3-3.5% of the transaction value. On a ₹3 lakh international spend, this amounts to ₹9,000-₹10,500 in silent charges. Cards designed for international use eliminate or dramatically reduce this fee, saving significant money for frequent global travellers and international online shoppers.
Understanding the Forex Markup Structure
The forex markup is made up of:
- Network fee: Visa/Mastercard charge 1% for currency conversion.
- Bank markup: The issuing bank adds its own margin, typically 2-2.5%.
- GST: 18% GST on the total forex markup.
On a standard card with 3.5% markup, the effective charge including GST is approximately 4.13%. Zero-markup cards eliminate the bank's portion, leaving only the ~1% network fee (or even that, on some cards).
Top Zero-Markup Cards in India
IDFC FIRST Wealth Credit Card: Zero forex markup on international transactions. Lifetime free. Priority Pass included. One of the best all-round international cards available.
Axis Bank Burgundy Private and Reserve: 1.5-2% markup with high reward rates that offset the remaining markup.
SBM Bank Global Credit Card (via Niyo): Zero forex markup, designed specifically for travellers. No annual fee.
HDFC Infinia: 2% markup but earns 3.3% rewards - net positive on forex.
International Online Shopping
The rise of cross-border e-commerce means you do not need to travel to incur international transaction fees. Purchases on Amazon US, AliExpress, ASOS, or subscription services billed in USD, EUR, or GBP all attract forex markup. Cards with low markup are valuable for habitual international online shoppers even without physical travel.
Dynamic Currency Conversion: Always Decline It
When paying abroad, the POS terminal may offer to charge you in INR instead of the local currency - this is Dynamic Currency Conversion (DCC). Always decline. DCC rates are typically 4-8% worse than the interbank rate, even worse than a standard forex markup card. Pay in local currency and let your card handle the conversion.
RBI Liberalised Remittance Scheme (LRS) Considerations
For international credit card spends above ₹7 lakh in a financial year, TCS (Tax Collected at Source) of 20% applies under the LRS framework. This TCS is credited against your tax liability and is refundable when filing ITR. However, it creates a cash flow impact. Heavy international spenders should plan accordingly and track cumulative spends.
Prepaid Travel Cards vs. Credit Cards
Prepaid forex cards lock in exchange rates at loading time, hedging against rupee depreciation. However, they typically lack reward programmes. For most travellers, a zero-markup credit card with travel rewards (earning miles on every international purchase) outperforms a prepaid card on a total-value basis.
Compare Top International Spends Cards
Top International Spends Credit Cards
BOBCARD ETERNA Credit Card
Joining Fee:
₹2,499 + GST
Renewal Fee:
₹2,499 + GST
Reward Type:
Reward Points
Axis Bank Magnus Credit Card
Joining Fee:
₹12,500 + GST
Renewal Fee:
₹12,500 + GST
Reward Type:
Reward Points
HDFC Bank Regalia Credit Card
Joining Fee:
₹2,500 + GST
Renewal Fee:
₹2,500 + GST
Reward Type:
Reward Points
IndusInd Bank Avios Visa Infinite Credit Card
Joining Fee:
₹10,000 + GST
Renewal Fee:
₹5,000 + GST
Reward Type:
Reward Points
BOBCARD Premier Credit Card
Joining Fee:
₹1,000 + GST
Renewal Fee:
₹1,000 + GST
Reward Type:
Reward Points
AU Nomo Credit Card
Joining Fee:
₹199 + GST
Renewal Fee:
Nil
Reward Type:
Reward Points
How to Choose
Prioritise zero or low forex markup
The single most impactful feature for international spends is the forex markup rate. Cards with zero markup (IDFC FIRST Wealth, Niyo Global) save 3.5%+ compared to standard cards. Even a reduction from 3.5% to 1.5% is worth ₹4,000 on a ₹2 lakh international spend.
Check reward rates on international transactions
Some cards earn bonus points specifically on international (forex) transactions. If your card earns 5X on forex spends and you redeem points at ₹0.50 per point, a 5X earn rate on ₹100 = 5 points = ₹2.50 reward, effectively a 2.5% return in addition to any other benefits.
Verify international acceptance network
Visa and Mastercard are accepted in virtually all countries. American Express has lower acceptance in Southeast Asia, Eastern Europe, and smaller merchants. For broad international acceptance, a Visa or Mastercard is the safer choice.
Consider LRS TCS implications for heavy spenders
If your international credit card spend exceeds ₹7 lakh in a financial year, 20% TCS is collected at source. This is a cash flow consideration, not an additional tax - it is credited against your liability - but it affects your available cash. Plan large international purchases accordingly.
Evaluate emergency card replacement services
When travelling internationally, emergency card replacement (typically within 24-48 hours) is a critical feature. Visa Infinite, Mastercard World, and Amex all provide emergency replacement services globally. Verify the process with your issuer before travelling.
All International Spends Credit Cards
BOBCARD ETERNA Credit Card
Joining Fee:
₹2,499 + GST
Renewal Fee:
₹2,499 + GST
Reward Type:
Reward Points
Axis Bank Magnus Credit Card
Joining Fee:
₹12,500 + GST
Renewal Fee:
₹12,500 + GST
Reward Type:
Reward Points
HDFC Bank Regalia Credit Card
Joining Fee:
₹2,500 + GST
Renewal Fee:
₹2,500 + GST
Reward Type:
Reward Points
IndusInd Bank Avios Visa Infinite Credit Card
Joining Fee:
₹10,000 + GST
Renewal Fee:
₹5,000 + GST
Reward Type:
Reward Points
BOBCARD Premier Credit Card
Joining Fee:
₹1,000 + GST
Renewal Fee:
₹1,000 + GST
Reward Type:
Reward Points
AU Nomo Credit Card
Joining Fee:
₹199 + GST
Renewal Fee:
Nil
Reward Type:
Reward Points
Axis Bank Platinum Credit Card
Joining Fee:
₹500 + GST
Renewal Fee:
₹200 + GST
Reward Type:
Reward Points
IDFC FIRST WoW Credit Card
Joining Fee:
Nil
Renewal Fee:
Nil
Reward Type:
Reward Points
SBI Card Miles Elite
Joining Fee:
₹4,999 + GST
Renewal Fee:
₹4,999 + GST
Reward Type:
Travel Credits