Best Credit Cards for International Transactions

Though India is way beyond in the Credit card game and variants but we can notice a great community is being build revolving it and the growth is great in terms of new credit card consumers in past 5-6 years. From insanely popular cashback cards to the cards for nerds, the airmiles cards, we can see a lot of variation. There are specific set of users who are like me who do a big portion of their total spends on International transitions, this thread is specially for them.

The forex markup varies between 0 - 3.5%. But hey, as the Zero markup straightaway seems to save a lot of bucks, but sometimes it's not "the best" option, which I'll discuss. Please do note, that many Debit cards also do come with 0% markup, but you do miss the extra layer of security which comes along with credit cards.

So here are the 15 credit cards which will earn / save during on your international transactions:

* Please do keep your international transaction's permission turned off when not needed for your own safety

1. Axis Reserve:

Fee: ₹50,000

Markup: 1.5%

Reward Rate: 3% (on GV) & 12% (on Loyalty Program)

Effective Reward Rate: 1.23% (on GV) & 10.23% (on Loyalty Program)



2. Citi Prestige:

Fee: ₹20,000

Markup: 3.5%

Reward Rate: 2% (on GV) & 8% (on Loyalty Program)

Effective Reward Rate: -2.13 (on GV) & 3.87% (on Loyalty Program)



3. Axis Magnus:

Fee: ₹10,000

Markup: 2%

Reward Rate: 1.2% (on GV) & 4.8% (on Loyalty Program)

Effective Reward Rate: -1.16% (on GV) & 2.44% (on Loyalty Program)

⚠️ If only hitting ₹1L milestone, effective Reward Rate would be 3.84% (on GV) & 22.44% (on Loyalty Program)



4. HDFC Infinia:

Fee: NIL for first year. ₹10,000 from second year onwards

Markup: 2%

Reward Rate: 3.3% (With Global Value Program, extra 1% till ₹1L per billing cycle as Cashback)

Effective Reward Rate: 1.94% (⚠️Till ₹1L in a billing cycle)



5. HDFC DinersClub Black:

Fee: NIL for first year, ₹10,000 from second year onwards

Markup: 2%

Reward Rate: 3.3% (With Global Value Program, extra 1% till ₹1L per billing cycle as Cashback)

Effective Reward Rate: 1.94% (⚠️Till ₹1L in a billing cycle)



6. Axis One Card / Burgundy Private Credit Card:

Fee: NIL for Burgundy Private customers, if not maintained Burgundy Private, then ₹50,000

Markup: 0%

Reward Rate: 1.5% (on GV) & 6% (on Loyalty Programs)

Effective Reward Rate: 1.5% (on GV) & 6% (on Loyalty Programs)



7. AMEX Platinum Charge Card:

Fee: ₹60,000

Markup: 3.5%

Reward Rate: 7.5% (Considering 1MR = ₹1)

Effective Reward Rate: 3.37% (⚠️ Only for direct USD purchase, or else AMEX charge double markup fee by doing Native Currency > $ > Desired Currency)



8. Standard Chartered Ultimate:

Fee: ₹5,000

Markup: 3.5% (1.5% gets refunded back as Cashback)

Reward Rate: 3.3%

Effective Reward Rate: 0.67%



9. SBI Aurum:

Fee: ₹10,000

Markup: 2%

Reward Rate: 1-2.5% (⚠️Considering the monthly ₹1L milestone being achieved and getting ₹1.5K worth Tata Cliq Vouchers. If not spending ₹1L in a billing cycle, avoid using it)

Effective Reward Rate: 0.14%



10. IndusInd Pioneer Heritage Metal:

Fee: ₹1,90,000 joining fee, no annual fee (comes with various options of fee structure)

Markup: 1.8%

Reward Rate: 2.5%

Effective Reward Rate: 0.14%



11. IndusInd Bank Explorer:

Fee: Joining fee ₹40,000, Annual fee ₹10,000

Markup: 0%

Reward Rate: 1% (Pays in Club Vistara Points aka CV Points)

Effective Reward Rate: 1% (Can be maximised by completing ₹3L/₹6L/₹9L/₹12L/₹15L milestone for Business Class Voucher)



12. SBI Cashback Credit Card:

Fee: NIL for first year, ₹999 from second year onwards

Markup: 3.5%

Reward Rate: 5%

Effective Reward Rate: 0.87%



13. IDFC First Private:

Fee: ₹50,000

Markup: 0%

Reward Rate: 2.5% (⚠️Considering the spend is always above ₹30K every month, below that, avoid)

Effective Reward Rate: 2.5%




14. IDFC Wealth:

Fee: LTF

Markup: 1.5%

Reward Rate: 2.5% (⚠️Considering the spend is always above ₹30K every month, below that, avoid)

Effective Reward Rate: 0.14%



15. RBL World Safari:

Fee: ₹3,000

Markup: 0%

Reward Rate: 0% (World Safari has no RP gain on international transactions)

Effective Reward Rate: 0%




So that's all as of now. Feel free to give your input. This list will keep changing depending on the new card or changed features of the cards.

 

[AsB]

Are there any mid range cards for okay kind of International Spends? I want a card for Certifications like Cloud and all, which are mostly international ,and do not accept RuPay, JCB or Discover.

 

[Srini]

Are there any mid range cards for okay kind of International Spends? I want a card for Certifications like Cloud and all, which are mostly international ,and do not accept RuPay, JCB or Discover.

Debit card Niyo global claims 0 markup (and 0 rewards).

Niyo Global - International Debit and Credit Card with Zero Forex Markup

Enjoy your international travel with the best debit and credit card Niyo Global and enjoy zero markups on your Forex transactions. Save money while you travel, and earn 6.5% interest* on your savings account.

www.goniyo.com

 

[avishj]

Debit card Niyo global claims 0 markup (and 0 rewards).

Niyo Global - International Debit and Credit Card with Zero Forex Markup

Enjoy your international travel with the best debit and credit card Niyo Global and enjoy zero markups on your Forex transactions. Save money while you travel, and earn 6.5% interest* on your savings account.

www.goniyo.com

I have used this extensively and can confirm this works. Also if you have the Signature Exclusive DC through the Oct IndusInd Exclusive Offer, you can use that too.

 

[sajtheman]

Think this is a good place to ask this as other people might have similar spend patterns for long term work related travel.

I'm possibly moving to Singapore for work for a year. Currently hold Axis Magnus and HDFC Infinia cards. Almost all my spends for the next year are going to be in SGD, and my Axis RPs are converted to loyalty programmes for travel.

With the forex transaction rates, is it a good idea to apply for an Axis Reserve card to get the 2x on international transactions? I was planning to use Magnus till I hit my 1L limit, and then use Reserve for remaining transactions. My spend would easily be around 3L per month.

Will there be a problem if all/most of my transactions on the Axis CCs are international?

 

[gurbina]

Think this is a good place to ask this as other people might have similar spend patterns for long term work related travel.

I'm possibly moving to Singapore for work for a year. Currently hold Axis Magnus and HDFC Infinia cards. Almost all my spends for the next year are going to be in SGD, and my Axis RPs are converted to loyalty programmes for travel.

With the forex transaction rates, is it a good idea to apply for an Axis Reserve card to get the 2x on international transactions? I was planning to use Magnus till I hit my 1L limit, and then use Reserve for remaining transactions. My spend would easily be around 3L per month.

Will there be a problem if all/most of my transactions on the Axis CCs are international?

The only problem you'll have is finding out what to do with so many points. You could be doing 1L points a month. That's enough for a monthly roundtrip to the US.

All you have to be cautious about is money transfer fees and foreign currency markup.

But even with those fees I think it's worth it 100% to do the spends in these cards, I highly doubt you'll find anything anywhere close to these reward rates.

But most importantly, be aware you'll likely get a tax notice due to money transfer and credit card payments. So do your research about your taxation status in both countries, tax treaties and the implications of moving money around like that. If it brings heavy or complicated tax implications you might be better off getting a card over there and keeping everything separate.

 

[sajtheman]

But most importantly, be aware you'll likely get a tax notice due to money transfer and credit card payments. So do your research about your taxation status in both countries, tax treaties and the implications of moving money around like that. If it brings heavy or complicated tax implications you might be better off getting a card over there and keeping everything separate.

Yes, this is the part where this plan comes unstuck. Oh well!

 

[arg]

Hi guys, need your suggestions on fee payment for my Sisters masters in the US.
The First Semester fees is around 15,000 USD. The University is charging 2.85% as fees for payment via Credit Cards.
Which would be the best way to make this payment?
Currently hold Infinia, Magnus. Looking at the earlier posts in this thread, Reserve could be a good option, and we can apply.

Also, we have taken an education loan to cover the fees, and that amount is already transferred to her Forex Card. Would we be better off paying in the US from her checking account directly?

Looking forward to your suggestions.

 

[anonymuos]

Hi guys, need your suggestions on fee payment for my Sisters masters in the US.
The First Semester fees is around 15,000 USD. The University is charging 2.85% as fees for payment via Credit Cards.
Which would be the best way to make this payment?
Currently hold Infinia, Magnus. Looking at the earlier posts in this thread, Reserve could be a good option, and we can apply.

Also, we have taken an education loan to cover the fees, and that amount is already transferred to her Forex Card. Would we be better off paying in the US from her checking account directly?

Looking forward to your suggestions.

Take Niyo Global debit card partnered with SBM Bank account and pay.

Update: SBM Bank is #$%&. Avoid.

 

[CC_Fire]

For Amex Platinum charge, any experiences with spends in non-USD? Are you charged FX markup of 3.5% twice? I did a small test transaction and doesnt seem that way but the post says so

 

[crazyuploader]

So what extra security Credit Card comes with over Debit Card?

 

[Wealth is my birth right!]

So what extra security Credit Card comes with over Debit Card?

Purchase protection by disputing chargeback

 

[saurabhsharma21]

I was given the most exclusive and prestigious credit card in the world the American Express Centurion.. card.

 

[Wealth is my birth right!]

I was given the most exclusive and prestigious credit card in the world the American Express Centurion.. card.

Wow 🤩
Congratulations 🍾

 

[ashwink]

I was given the most exclusive and prestigious credit card in the world the American Express Centurion.. card.

Congrats bro 🎉

 

[anirbanm]

Utna kuch nei hota
Many do heavy forex on Reserve
Just need to be aware of tax implications

The only problem you'll have is finding out what to do with so many points. You could be doing 1L points a month. That's enough for a monthly roundtrip to the US.

All you have to be cautious about is money transfer fees and foreign currency markup.

But even with those fees I think it's worth it 100% to do the spends in these cards, I highly doubt you'll find anything anywhere close to these reward rates.

But most importantly, be aware you'll likely get a tax notice due to money transfer and credit card payments. So do your research about your taxation status in both countries, tax treaties and the implications of moving money around like that. If it brings heavy or complicated tax implications you might be better off getting a card over there and keeping everything separate.

 

[anirbanm]

Hi guys, need your suggestions on fee payment for my Sisters masters in the US.
The First Semester fees is around 15,000 USD. The University is charging 2.85% as fees for payment via Credit Cards.
Which would be the best way to make this payment?
Currently hold Infinia, Magnus. Looking at the earlier posts in this thread, Reserve could be a good option, and we can apply.

Also, we have taken an education loan to cover the fees, and that amount is already transferred to her Forex Card. Would we be better off paying in the US from her checking account directly?

Looking forward to your suggestions.

For points none can beat Reserve

 

[DrTS]

Can someone explain how the charges for foreign/international transactions are added to credit card ( magnus )?

I understand forex transaction charges, but then there is visa transaction fee and then gst etc

And then currency exchange fees ? DCC ?

I understand there are articles on this but can someone explain me in plain english?

Also if these charges are added at the time of transaction or later in statement separately?

 

[jack333]

If you do transaction in INR they'll charge dcc. If you do in foreign currency they'll charge forex markup charge. For cards like magnus better to do in INR as dcc is less than forex markup. For cards which have zero forex markup better to do in foreign currency

 

[CC-Muncher]

The RBL Bank's World Safari Credit Card does not charge any extra fees when you use it for transactions in foreign currencies. This credit card is probably the only one available in India that offers this benefit.

 

[jack333]

Idfc wow also. And many debit cards