Credit Cards: Top 5 cards with no foreign transaction fees for travellers | Mint

Do you enjoy travelling to different countries but are tired of paying heavy exchange rates on foreign currencies? Well, now you do not need to lose your precious money anymore over exchange rates and say hello to a travel credit card! Usually you are required to pay a small foreign exchange fee over transactions, however, many lenders offer you credit cards with zero foreign transaction fees and special offers for your travel plans!

Foreign transaction fees

Foreign transaction fees refers to the fees charged on purchases made abroad or online from foreign merchants. The charges usually involve the fees from the card network such as Visa or Mastercard or Rupay and the issuing bank. Hence, to avoid these charges, you should apply for a travel credit card which gives you the facility of waiving foreign transaction fees.

Top 5 credit cards with no foreign transaction fees 2024

HDFC Bank Regalia ForexPlus Credit Card

Joining Fee:Rs. 1000 plus GST

HDFC Bank regalia ForexPlus credit card is issued in US Dollars and is free from cross-currency markup fees so that you can use it globally. It provides free lounge access at select Indian international airports for cardholders. The card also offers full insurance for the lost baggage, personal documents, and cash. This card can also be blocked online, and a backup card can be ordered for extra security.

Axis Bank Burgundy Private Credit Card

Joining Fee: Rs. Nil. (invite Only)

Axis Bank Burgundy Private credit card can be availed only via invite. Hence, if you qualify, you get bonus points and no interest charges until your bill date. It has no foreign transaction fees and gives you the option to boost your credit limit abroad. Additionally, you will be rewarded with points for the purchases you make in your daily routine.

In addition to these financial incentives, the card provides a more comprehensive suite of travel and lifestyle benefits. You can enjoy concierge services for flight and restaurant bookings and even shopping. Popular memberships for restaurants, movie tickets, and golf outings are included for free. 

The card also offers fuel surcharge waiver of these transactions made at specific petrol pumps and some airport lounge access free of charge, both India and abroad. You can also enjoy free hotel and dining memberships, hotel discounts, and dining experiences. The card also provides travel insurance, health and wellness coaching, and consultations with doctors.

Ixigo AU Credit Card

Joining Fee: Rs. 999 plus GST

This credit card comes with a joining allowance of 1000 reward points and Rs. 1000 Ixigo money vouchers. With this card, you can redeem the reward points on any train, online, or offline purchases. You also get to enjoy special offers on flight, train, bus, and hotel bookings through ixigo. Along with this you get complimentary access to over 1,300 international and domestic airport lounges and railway lounges. The card comes with no foreign transaction fees and also provides a fuel surcharge waiver.

Club Vistara IndusInd Bank Explorer Credit Card

Joining Fee: Rs. 40,000 plus GST

This credit card comes with a high annual fee, however, it also offers you with exclusive travel and lifestyle perks. You can enjoy a complimentary voucher for 1 business class ticket based on your annual spending. With this credit card you get exclusive access to Club Vistara Gold status, hotel and airline vouchers, and points for several purchases. The card includes free access to airport domestic and international lounges; free tickets for movies; and travel insurance offers. This credit card offers you with zero foreign transaction fee and fuel surcharge waiver.

IDFC First Mayura Credit Card

Joining Fee: Rs. 5,999 plus GST

This credit card offers you with a wide variety of reward points on different tier levels. The reward points depend on the amount spent and the type of transaction done by you. You can enjoy even higher reward points on online shopping, celebrations, flight booking and other such big transactions. This credit card also provides you with zero foreign transaction fees.

Conclusion

Credit cards provide you with the ease of paying later. However, if not used wisely, credit cards can be a disastrous choice for you as they attract high interest rates on repayments. Hence, it is always advisable to pay your credit card bills on time and in one go. This will not only help you maintain a healthy credit score, but will also help you avoid debt traps. Before choosing a credit card, you must analyse your financial situation and decide which credit card suits you best and aligns perfectly with your budget.