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Best Zero Forex Markup Credit Cards in India (2026)
Updated 23 September 2026 · Compares 6 cards
Most Indian credit cards add a 3.5% forex markup (plus GST on it) to every foreign-currency transaction, whether you're shopping abroad or paying a foreign website. On a ₹2 lakh international trip, that's over ₹8,000 in fees. A zero-forex card removes that cost entirely.
Good news for 2026: IDFC FIRST Bank removed forex markup on all its credit cards from September 2026, so there are now several free options.
Quick comparison
| Card | Fee | Best for |
|---|---|---|
| Scapia Federal Bank | Lifetime free | Lifetime free |
| IDFC FIRST WOW! (FD-backed) | Lifetime free | Against a Fixed Deposit - no income proof or credit history needed |
| IDFC FIRST Select | Lifetime free | Lifetime free |
| IDFC FIRST Wealth | Lifetime free | Lifetime free premium card |
| OneCard Metal | Lifetime free | Lifetime free metal card |
| IndusInd Bank Tiger | Lifetime free | Lifetime free |
Our picks in detail
Scapia Federal Bank
Lifetime free, zero forex, and it earns about 2% in travel coins on international spends. A favourite with frequent travellers.
Highlights
- Lifetime free
- Zero forex markup
- 10% Scapia coins (~2%) on all spends, 20% on travel booked via Scapia
- Coins redeemable for flights & hotels
Keep in mind
- Coins usable only for travel on Scapia app
- No rewards on utilities & insurance (Feb 2026)
Fee waiver: not available · Forex markup: 0% · Lounge: Unlimited domestic lounges on Rs 20K monthly spend
See details on the Federal Bank x Scapia website →IDFC FIRST WOW! (FD-backed)
FD-backed, lifetime free, and zero forex. The easiest zero-forex card to get, even without credit history.
Highlights
- Against a Fixed Deposit - no income proof or credit history needed
- Lifetime free
- Zero forex markup
- Builds your CIBIL score
Keep in mind
- Credit limit tied to FD amount
- Low rewards
Fee waiver: not available · Forex markup: 0% · Lounge: None
See details on the IDFC FIRST Bank website →IDFC FIRST Select
Lifetime free with zero forex from September 2026, plus 10X rewards above ₹20,000 monthly spend.
Highlights
- Lifetime free
- 10X on spends above Rs 20K/month
- Zero forex markup
- Buy-one-get-one movie tickets
Keep in mind
- Lounge visits halved and spend-gated (Apr 2026)
Fee waiver: not available · Forex markup: 0% · Lounge: Domestic + railway lounges on Rs 20K monthly spend
See details on the IDFC FIRST Bank website →IDFC FIRST Wealth
Premium lifetime-free card with zero forex, lounges and golf, for higher incomes.
Highlights
- Lifetime free premium card
- 10X on spends above Rs 20K/month
- Zero forex markup
- Golf, spa and BOGO movies
Keep in mind
- High income requirement
- Lounge spend-gated
Fee waiver: not available · Forex markup: 0% · Lounge: Domestic + international lounges on Rs 20K monthly spend
See details on the IDFC FIRST Bank website →OneCard Metal
Lifetime free with a low 1% forex markup and a good app for tracking foreign spends.
Highlights
- Lifetime free metal card
- 5X rewards on your top 2 spend categories each month
- Excellent app, instant EMI conversion
- Low 1% forex markup
Keep in mind
- Low base reward rate
Fee waiver: not available · Forex markup: 1% · Lounge: None
See details on the OneCard (multiple partner banks) website →IndusInd Bank Tiger
Lifetime free with a 1.5% forex markup, and lounge access that doesn't depend on spending.
Highlights
- Lifetime free
- Lounges without spend requirement
- Reward rate scales 1 -> 6 points/Rs 100 with annual spend
- 1 point = 1 Air India mile (from Jun 2026)
Keep in mind
- Low rate at low spends
Fee waiver: not available · Forex markup: 1.5% · Lounge: 8 domestic + 2 international per year, no spend criteria
See details on the IndusInd Bank website →Always pay in the local currency
Abroad, card machines and websites often offer to charge you in rupees. This is called Dynamic Currency Conversion (DCC), and its exchange rate is usually much worse than your bank's. Always choose to pay in the local currency. Some banks (HDFC from 2026) also charge a separate 1.75% fee on rupee transactions processed abroad.
Frequently asked questions
Is zero forex the same as no international fees?
Not quite. Zero markup means no percentage fee on the conversion, but ATM cash withdrawals abroad still attract cash-advance fees and interest from day one. Use the card for purchases, not cash.
Do I pay GST on forex markup?
Yes, 18% GST applies to the markup, which is another reason zero-markup cards save more than the headline 3.5%.
How we pick: we compare fees, fee waivers, reward rates, monthly caps and exclusions from each bank's published terms, including 2025–26 changes. Estimates assume typical redemption values. CardWise is independent, and card rankings are not influenced by any bank.