Zero Forex Markup Credit Card: Applicability, Card List and More 

Do you travel frequently but forex markups are adding up to your credit? Well, a regular credit card may impose an average foreign markup charge of up to 3.5%, which is included on your next credit card bill.

This is where the zero forex markup credit card comes in. It adds to your flexibility in spending credits in foreign currency at zero extra costs. 

Applicability of Forex Markup Charges on Credit Cards 

Whether you are making purchases while travelling abroad or even buying something online in a foreign currency with your credit card, you must pay a forex markup fee with GST. 

If you are wondering why you are paying this charge, this essentially covers the costs that your card issuer or bank and card network charge to complete the transaction. Here are a few more details:

• The fee of banks typically ranges between 2% and 3.5% and applies to the overall transaction value.
• Network costs on forex charges are usually built into the rate of the exchange. However, Mastercard and Visa might apply a 1% fee for currency conversion. 
• The Goods and Services Tax (GST) applies at 18% on the overall expense. 

Here is a short example showcasing the ultimate amount after expenses in foreign currencies:

• Suppose you make purchases worth $70. Depending on the current currency value, it amounts to ₹6,181.79*. Let’s round it off to ₹6,182. 
• If you have a regular credit card with a forex markup fee of 3% you need to pay ₹185.46 extra. After the GST implication, it becomes approximately ₹218.84.
• With a zero forex markup credit card, you do not have to pay this extra charge at all. 

*The conversion value is applicable as of 15th October, 2025, which is subject to change. 

List of Zero Forex Markup Credit Cards in India (2025) 

Below is a list of 7 zero forex markup credit cards in India available in the market that you can apply for:

Alternatively, you can look up secured credit cards offered by Stable Money at zero joining and annual charges. Hurry, offer valid only for the first 10,000 cardholders! 

Key Benefits of Zero Forex Markup Credit Cards

Apart from the zero forex charges as its primary benefit, these cards also have the following benefits that you must note before applying:

• Lounge Access: If you are planning to travel in foreign countries, you can save on lounge access while you wait for your flight. Most of such cards typically allow domestic and international lounge access at least 1 per quarter. 
• Online Shopping: You can also use a zero-forex markup credit card when you are not travelling. If you order any digital or physical product in a foreign currency, you can still save up to a 3.5% charge plus GST that applies to regular credit cards. 

Points to Note About Zero Forex Markup Credit Cards

Here are some of the key pointers that you must keep in mind before applying for this card type:

• Card Limit: If you plan to spend in currencies such as USD, Euro, GBP, etc., check the zero forex markup credit card limit. As such currencies are typically higher than the Indian currencies and even without forex charges, you need a card with a higher spending limit. 
• Check the Eligibility Criteria: Usually, banks set an age limit between 21 and 65 years and mention a specific income. Look for such details and check whether they match and then apply for a card. 
• Overlimit Charges: Although there are no forex markup fees, overlimit charges might be applicable for some cards. Therefore, check the overlimit charge amount before applying.