Top travel credit cards with zero or low forex markup for your winter holidays

Frequent international travellers should consider other travel-focused benefits when selecting a card, along with zero forex mark-up.

Planning a winter getaway with friends or family? International travellers can unlock significant value with zero or low forex mark-up credit cards, as minimising these fees directly impacts the cost of overseas expenditure.

While most travel-focused cards come with low forex mark-up, several super-premium all-rounder cards such as Axis Burgundy Private, HDFC Infinia, ICICI Emeralde Private and IDFC FIRST Private provide concessional mark-up on foreign spends, though these cards have a high eligibility criteria.

There are some credit cards that offer low forex fees and often come with travel perks such as complimentary lounge access, hotel memberships and other travel related benefits.

How to choose the best travel credit card?

Along with zero forex mark-up, frequent international travellers should also consider other travel-focused benefits when selecting a card.

“Look at the core value that the card offers through reward points or air miles and the flexibility of redemption. Beyond this, additional perks like discount on flights/hotels, complimentary memberships to hotel loyalty programs, lounge access, etc. can further enhance savings and maximise the overall value,” said Rohit Chhibbar, chief business officer, credit cards, Paisabazaar. Compare multiple options and choose the one that best aligns with your plans.

Paisabazaar.com has curated a list of top travel credit cards. The information is sourced from bank websites, updated as of November 27. Here's the list:

Scapia Federal Bank Credit Card

The Scapia Federal Bank Credit Card has no annual fees and zero forex markup. It offers 20 percent Scapia coins on travel bookings via the Scapia app and 10 percent Scapia coins on other spends, with 5 Scapia coins redeemable for Re 1. The card offers a base reward rate of 2 percent and a travel reward rate of 4 percent. Cardholders get unlimited domestic lounge access and up to Rs 1,000 off at airports when spending Rs 10,000 a month.

Ixigo AU Credit Card

The ixigo AU Credit Card has no annual fees and zero forex markup. It offers 10 reward points per Rs 200 spent online and 5 reward points per Rs 200 spent offline, with one reward point redeemable for Rs 0.25.

The card provides up to 10 percent off on ixigo bookings, one international lounge visit, eight domestic lounge visits (two a quarter on Rs 20,000 spend), and eight railway lounge visits a year. The card offers a reward rate of 5 percent on travel bookings on ixigo, 2.5 percent on online spending and 1.25 percent on offline spending.

Also read | Is travel insurance necessary for short trips?

IDFC FIRST WOW Credit Card

The IDFC FIRST WOW Credit Card is a secured card with no annual fees and zero forex markup. It offers four reward points per Rs 150 spent, with one reward point redeemable for Re 0.25. The card has an effective reward rate of 0.67 percent. It provides credit and cash withdrawal limits up to 100 percent of the FD amount, with a minimum FD amount of Rs 20,000.

RBL World Safari Credit Card

The RBL World Safari Credit Card has an annual fee of Rs 3,000 and zero forex markup. It offers five reward points for every Rs 100 spent on travel retail purchases and two points for Rs 100 spent domestically.

The card provides up to eight domestic and two international airport lounge visits a year. The bank also offers Taj Experiences, MMT, Myntra, Amazon or Croma voucher of Rs 10,000 on Rs 7.5 lakh annual spends. It offers a base reward rate of 1 percent and a travel reward rate of 2.5 percent.

IDFC FIRST Mayura Credit Card

The IDFC FIRST Mayura Credit Card has an annual fee of Rs 5,999 and zero forex markup. It offers one reward point for every Rs 150 spent, with one reward point redeemable for Re 0.50 for travel bookings via the IDFC FIRST Bank app and Re 0.25 for other redemption options.

The card earns 50X reward points on hotels and 30X on flights via the IDFC FIRST Bank app.

It provides 16 each domestic, international and railway lounge accesses a year. It offers a reward rate of 10 percent on flights booked through the IDFC FIRST Bank app and 3.33 percent on other categories with spends over Rs 20,000 per month. It also offers Rs. 5,000 off the Postcard hotels (Rs 25,000 min, once per quarter).

AU NOMO Credit Card

The AU NOMO Credit Card is a secured credit card with no annual fee and a forex markup of 0.99 percent. It offers 2 reward points per Rs 100 spent on retail, with 1 reward point redeemable for Re 0.25. The card provides two domestic lounge visits when spending a minimum of Rs 20,000 quarterly and 2 two railway lounge visits/quarter. It has an effective reward rate of 2 percent.

MakeMyTrip ICICI Bank Credit Card

The MakeMyTrip ICICI Bank Credit Card has an annual fee of Rs 999 and a forex markup of 0.99 percent. It offers 6 percent myCash (12 myCash per Rs 200) on hotel bookings via MMT, 3 percent myCash (6 myCash per Rs 200) on flights, holiday packages, cabs and bus bookings via MMT, and 1 percent myCash (2 myCash per Rs 200) on all other spends.

The card also offers 25 myCash on every train booking via MMT, with 1 myCash equal to Re 1, and up to 4 percent cashback on spends made on iShop. It offers a reward rate of 6 percent for hotel bookings on MMT and 3 percent for flights, cabs, buses and holiday bookings on MMT. The card users get eight domestic and one international airport lounge visit a year.

Also read | Common mistakes travellers make when buying travel insurance

AU Zenith+ Credit Card

The AU Zenith+ Credit Card has an annual fee of Rs 4,999 and a forex markup of 0.99 percent. It offers two reward points per Rs 100 spent on dining, travel, and international spends, and 1 reward point per Rs 100 spent on other categories, with 1 reward point redeemable for Re 1. It offers a reward rate of 2 percent on travel, dining, and international spends, and 1 percent on other retail spends. The card provides lounge access: 16 international (Priority Pass) and 16 domestic visits/year. It also offers four airport meet & assist services (one per quarter quarter) and Taj Epicure membership on Rs 12 lakh annual spends. The card has an effective reward rate of 1.66 percent on spending over Rs 20,000 per month.

IDFC First Ashva Credit Card

The IDFC First Ashva Credit Card has an annual fee of Rs 2,999 and a forex markup of 1 percent. It offers 10X reward points on incremental monthly spends above Rs 20,000 and 5X reward points on up to Rs 20,000 monthly spends, with one reward point redeemable for up to Re 0.40. The card earns 50X reward points on hotels and 30X on flights via IDFC FIRST app's Travel & Shop. It provides 16 domestic, eight international and 16 railway lounge visits a year, with a minimum spend of Rs 20,000 a month.

YES Bank Marquee Credit Card

The YES Bank Marquee Credit Card has an annual fee of Rs 4,999 and a forex markup of 1 percent. It offers 36 YES Rewardz Points per Rs 200 spent on online shopping and 18 YES Rewardz Points per Rs 200 on offline spends, with one point redeemable for up to Re 0.25. The card provides 24 domestic (six a quarter), unlimited international lounge access and eight 8 guest visits a year. It offers a reward rate of up to 4.5 percent for online shopping and up to 2.25 percent for offline spending.