Planning an international trip can be exciting but also stressful, especially when it comes to managing finances across borders. Foreign transaction fees and dynamic currency conversion charges can seriously affect your travel budget.
However, the good news is that credit cards are designed specifically for international travelers, offering zero markup on foreign currency transactions and many other beneficial features.
Let’s discuss how zero forex markup credit cards can help you save on foreign transactions.
What is Forex Markup?
When you use your credit card for purchases while traveling overseas or even when shopping on a foreign website, the transaction happens in that country’s currency. Your card provider then converts this charge into your home currency (INR for Indian cards) to deduct it from your account.
In doing so, they apply an additional conversion fee called the foreign exchange markup. This fee is usually 3-4% over the base exchange rate and directly impacts how much you pay. The zero Forex cards waive this markup fee, helping you save substantially.
Mayura Metal Credit Card: A Luxe Travel Companion
The Mayura Metal Credit Card is a distinctive offering that combines luxury with practicality. Inspired by India’s heritage, this card features two regal peacocks and shines at every angle, much like the vibrant plumage of its namesake.
The Mayura card doesn’t just make a statement in your hand—it offers a range of benefits that elevate your travel experience.
Exclusive Mayura Benefits:
- Earn ₹4,000 Cashback: For every transaction above ₹1,000, you receive ₹1,000 as cashback, up to four times. This is valid for the first 60 days after the virtual card is generated, with cashback credited upon paying the joining fee.
- Zero Forex Markup Fees: Just like the FIRST WOW! The Mayura Metal Credit Card ensures that you experience global luxuries without worrying about foreign exchange fees. Your international transactions are free of any forex markup, making it a must-have for frequent travelers.
- Higher Tier of Rewards: The Mayura card offers 5X reward points on transactions below ₹20,000 and 10X reward points on transactions above ₹20,000, with additional perks on your birthday.
- Premium Design: Crafted from premium metal, this card is a luxurious statement in your wallet, making every swipe feel elegant.
Top Features of Zero Forex Credit Cards
Here are some of the best offerings of zero forex markup travel credit cards:
Higher Daily Usage and Withdrawal Limits
In addition to zero forex fees, the card provides higher usage limits while traveling overseas. The daily transaction authorization limit is up to Rs 1 lakh, even for the base variant.
You can also withdraw up to 100% of your fixed deposit amount as emergency cash abroad. And there is 0% interest levied on such withdrawals for 45 days – another handy benefit for foreign journeys.
Seamless Acceptance and Wide Services
The FIRST WOW! Credit Card for Traveller is accepted at over 42 million establishments across 200+ countries. So you wouldn’t need to worry about card acceptance while globetrotting.
It is also powered by RuPay, Visa, and Mastercard, allowing you to use it as an ATM card worldwide for cash withdrawals. In addition to international usage, the card offers discounts and rewards at 1500+ Indian restaurants and retail chains, adding to its versatility.
Robust Protection Services
Traveling overseas can be risky, and risks like credit card fraud, theft, or even document loss could ruin your trip.
To guard against this, the FIRST WOW! Credit Cards offer a comprehensive credit shield that safeguards you against unauthorized transactions and provides emergency assistance services.
This means your overseas payments and access to travel finance remains protected in case of unforeseen incidents. You also get access to international concierge services for hotel bookings and transport facilities and reporting lost cards or documents while traveling.
Steps to Getting Your FIRST WOW! Credit Card
IDFC FIRST Bank has made obtaining the FIRST WOW! Credit Cards are quick and convenient through these 3 steps:
- Step 1: Register and verify personal details through digital KYC
- Step 2: Open a fixed deposit account and fund it with the minimum amount (Rs 20,000). This FD serves both as collateral and determines your credit limit.
- Step 3: Finish video KYC verification. Instantly receive your approved FIRST WOW! Credit cards are within the app/portal and ready for domestic and international transactions!
You can also opt for additional services like card protection, zero-liability coverage, etc. while completing formalities online end-to-end.
Essential Eligibility Criteria
To be eligible for the FIRST WOW! Credit Card, the primary applicant must:
- Be at least 18 years of age
- Be an Indian citizen or resident with valid Indian addresses
- Have a domestic fixed deposit account with the bank
With these basic criteria met, you can apply and unlock the FIRST WOW! Credit Card’s benefits for seamless overseas travels and payments in just a few clicks!
The Bottom Line
Staying on top of finances is key to stress-free international travel. The FIRST WOW! Credit Cards and the Mayura Credit Card make this easy with zero forex fees, higher limits, robust protection, and seamless digital access.
Simply open an FD account or apply for a metal credit card and complete a quick eKYC to unlock convenience and savings abroad.