Zero Forex Markup Credit Card - Simplify Overseas Travel

It is common for foreign transaction fees to slip in while traveling abroad and can be quite expensive. Whether you are a frequent traveler or not, an international credit card with no forex markup fees can simplify overseas transactions and save you money. 

International credit cards in India with zero forex markup fees are becoming increasingly popular. You can streamline your international spending and avoid hidden charges and enjoy exclusive credit card features as well.

What are forex markup fees?

Forex markup fees are charges that banks and credit card companies apply when transacting in a foreign currency. These typically range between 1-3.5% of the transaction value, which may not seem like much but can add up quickly, especially when you’re travelling abroad.

For example, if you purchase an item worth Rs. 10,000 using your international credit card in a foreign country, you could paying an extra Rs. 300 in forex fees (3% charge). This is over and above the transaction value and any other fees or charges associated with your card.

​​How the best zero forex markup credit card can simplify overseas travel

A zero forex markup credit card, such as the IDFC FIRST WOW! Credit Card, is a great option for international travel. Such credit cards have many features that make overseas travel more convenient, cost-effective, and hassle-free.

• No more forex fees

With a zero forex markup fee credit card you can save yourself the hassle of exchanging currency, and you will save money as well. All you have to do is swipe your card and you are good to go.
With a forex-fee free credit card, you do not have to pay additional currency conversion charges because the issuer converts the transaction amount to the local currency without charging any extra fees.

• No reloading fees

Unlike pre-paid forex cards, a zero forex markup credit card doesn’t incur any reloading fees.

• Better exchange rates

The best zero forex-markup credit cards also help to reduce transaction costs as the issuer negotiates better exchange rates with banks and merchants locally.

• Worldwide acceptance

Another advantage of using an Indian international credit card, such as the FIRST WOW! Credit Card, is its widespread acceptance. It means you can use the card to make purchases or withdraw cash from ATMs, irrespective of the country.

Key features of a zero forex markup fee credit card 

When travelling abroad, consider credit card features that would make your trip more comfortable and stress-free. Some features include -

• Rewards

Many credit cards have reward programs to help you earn points, cashback, or travel miles on purchases. Look for a card that offers a program that suits your travel needs.

• Low-interest rates

Using your credit card abroad can result in higher interest rates due to the foreign exchange rate markup. Choose the credit card with low interest rate to minimise the cost of borrowing.

• Fraud protection

Fraudulent transactions can be a significant problem when using credit cards abroad. Look for a credit card with fraud protection to secure your every transaction.

• Customer service

A credit card that offers 24/7 customer service to assist you with any issues or concerns while travelling is always a good choice.

The bottom line -  a credit card with zero forex markup fees is a no-brainer for international travel. With it, you can save money, avoid the hassle of exchanging currency, and enjoy the peace of mind that comes with 24/7 customer service. But don't forget the most important benefit of all - you can finally say goodbye to the days of carrying around a heavy wallet full of foreign coins!

Why choose the FIRST WOW! Credit Card?

Carrying the FIRST WOW! Credit Card is one of the smartest choices you can make when travelling abroad. With a card like this, you get the most value for your money, as you are not subject to the often steep fees associated with exchanging currency. Additionally, you will have access to a 24/7 customer support line, in case you have any issues with your transactions. In summary, here’s why it makes for a great travel companion:

• Zero forex markup fees

• Split your payments into easy installments

• Minimum 100% ATM cash withdrawal limit

• Personal accident cover of Rs. 20,000

• 24/7 customer support

• Assured credit card, backed by a fixed deposit

• No credit history required

• Earn 7.5% interest rate against your FD

Apply for the FIRST WOW! Credit Card today and make your international travel experience more rewarding.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.