Using a credit card abroad can be convenient, but the foreign transaction fees can add up quickly. Most credit cards charge a fee, typically between 2% to 3.5%, on every international purchase. However, some Indian banks now offer credit cards with zero foreign transaction fees, allowing you to save money while spending abroad. These cards are especially useful for frequent travelers, online shoppers who buy from international websites, and people studying or working overseas.
In this article, we will look at some of the best credit cards with zero foreign transaction fees from Indian banks, along with their features and benefits.
Top Indian Credit Cards Without Foreign Transaction Fees
Here are some of the best credit cards with zero foreign transaction fees available from Indian banks:
IDFC FIRST Wealth Credit Card
The IDFC FIRST Wealth Credit Card is one of the top choices for people looking to avoid foreign transaction fees. This card does not charge any fee on international transactions, making it perfect for frequent travelers.
Key Features:
- No annual fee and lifetime free card
- Zero foreign transaction fees on all international spending
- Complimentary airport lounge access in India and abroad
- Up to 2.5% cashback on domestic and international transactions
- Low-interest rates compared to other credit cards
This card is not just useful for foreign spending but also provides other travel-related perks like insurance coverage and roadside assistance.
Niyo Global Card (by SBM Bank India)
The Niyo Global Card is a popular choice among students and travelers. This card works like a prepaid card but provides the benefits of zero foreign transaction fees.
Key Features:
- Zero forex markup on international transactions
- Works in over 150 countries
- Free ATM withdrawals worldwide (up to certain limits)
- Real-time currency conversion at Visa exchange rates
- No hidden charges
The Niyo Global Card is especially favored by students studying abroad due to its easy application process and transparent fee structure.
IndusInd Bank Celesta Credit Card
The IndusInd Bank Celesta Credit Card is a premium card that comes with several travel benefits, including zero foreign transaction fees.
Key Features:
- Zero forex charges on international transactions
- Complimentary access to international airport lounges
- Travel insurance benefits for international trips
- Reward points on every domestic and international spend
Though this card comes with a high annual fee, the benefits, especially for frequent international travelers, make it worth considering.
HSBC Premier Mastercard Credit Card
HSBC Premier Mastercard is another excellent option if you’re looking for credit cards with zero foreign transaction fees. This card offers a host of travel and lifestyle benefits.
Key Features:
- No foreign transaction fees on international spending
- Complimentary airport lounge access worldwide
- Reward points on all transactions, including international spending
- Travel insurance coverage for cardholders
This card is ideal for global travelers who frequently visit different countries and want to save on fees.
HDFC Regalia ForexPlus Card
Though not a traditional credit card, the HDFC Regalia ForexPlus Card offers similar benefits with zero foreign transaction fees. It is a prepaid Forex card that you can load in multiple currencies.
Key Features:
- Zero forex markup on international transactions
- Accepted at all Visa-enabled merchants worldwide
- Complimentary insurance cover for cardholders
- Safe and secure online transactions
This card is perfect for people who prefer prepaid options but want the benefits of no extra charges while traveling abroad.
Why Choose Credit Cards with Zero Foreign Transaction Fees?
If you frequently travel or make purchases from international websites, credit cards with zero foreign transaction fees can save you a lot of money. Here’s why you should consider getting one:
- Save on Extra Charges: Most credit cards charge 2-3.5% on every international transaction. Over time, these fees can add up. Using a card without these fees helps you save more.
- Better Currency Conversion Rates: These cards often provide better currency conversion rates compared to traditional credit cards.
- Convenience While Traveling: Carrying cash abroad can be risky. With a credit card that doesn’t charge foreign transaction fees, you can make secure payments without worrying about extra costs.
- Rewards on International Spending: Many of these cards also offer reward points or cashback on your foreign transactions.
- Added Travel Perks: Apart from zero foreign transaction fees, these cards often come with benefits like airport lounge access, travel insurance, and concierge services.
Things to Consider Before Choosing a Credit Card with Zero Foreign Transaction Fees
While credit cards with zero foreign transaction fees offer many benefits, there are a few things to keep in mind before applying for one:
- Annual Fees: Some of these cards might have high annual fees. Make sure to calculate if the benefits outweigh the cost.
- Eligibility Criteria: Premium cards with no foreign transaction fees might require a high credit score or income level.
- Hidden Charges: Always read the terms and conditions carefully to ensure there are no hidden fees or conditions.
- Rewards and Cashback: Check if the card offers rewards or cashback on both domestic and international spending.
- Additional Benefits: Look for cards that offer extra perks like travel insurance, airport lounge access, and emergency assistance.
How to Apply for Credit Cards with Zero Foreign Transaction Fees
Applying for credit cards with zero foreign transaction fees from Indian banks is quite straightforward. You can either visit the bank’s website or apply through their branch. Here are the general steps:
- Check Eligibility: Make sure you meet the income and credit score requirements for the card.
- Gather Documents: Usually, you’ll need identity proof, address proof, income proof, and a passport-sized photograph.
- Submit Application: You can apply online or offline by submitting the necessary documents.
- Verification: The bank will verify your documents and credit history.
- Approval and Card Delivery: Once approved, the card will be delivered to your registered address.
Also Read:- How To Choose Between A Credit Card and A Personal Loan
Conclusion
Credit cards with zero foreign transaction fees from Indian banks are a great choice for travelers and international shoppers. They help you save on unnecessary charges and offer additional perks like rewards, insurance, and lounge access. Cards like the IDFC FIRST Wealth Credit Card, Niyo Global Card, and HSBC Premier Mastercard provide excellent benefits with no extra cost on international spending.
If you travel frequently or make a lot of international purchases, getting one of these credit cards with zero foreign transaction fees can be a smart financial decision. Just make sure to review all the card’s features, fees, and terms before applying.
