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Zero Forex Credit Card: 0% Forex Markup and What Else?

Key Takeaways

Zero forex markup is an international travel must-have that helps you save on the forex markup fee charged on every foreign currency transaction.
A credit card's overall value depends on its fees, rewards, lounge access, travel insurance and other benefits.
Paying in local currency and declining conversion to INR keeps the saving from zero forex intact.

31 Oct 2026 by Team FinFIRST

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Zero forex and what else? This guide tells you what features your zero-forex credit card should have to make it the perfect card for you. We’ll compare rewards, cashback, offers, lounge, convenience and more. Let's begin.

Your zero-forex credit card can be just as useful at home as it is abroad, since most of its features and benefits apply to domestic spending too.

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What is a zero-forex credit card?

A zero-forex credit card means you don’t have to pay the extra forex charge that most credit cards charge on international transactions. This forex fee usually costs up to 3.5% of the transaction value plus 18% GST.

Let's take an example to further clarify, you take a trip abroad and spend a total of ₹1 lakh there, at the forex rate of 3.5% plus 18% GST on the markup, you’d have to pay ₹4,130 in transaction fees. Money you get to save instead with a zero-forex credit card. Let’s see the savings a little more in detail.

How much can zero forex markup save?

The table shows the saving at five spend levels.

Expenditure	Markup at 3.5%	GST at 18%	Total savings
₹25,000	₹875	₹157.50	₹1,032.50
₹50,000	₹1,750	₹315	₹2,065
₹1 lakh	₹3,500	₹630	₹4,130
₹3 lakh	₹10,500	₹1,890	₹12,390
₹5 lakh	₹17,500	₹3,150	₹20,650

Beyond zero forex, what else should you compare?

IDFC FIRST Bank now offers Zero Forex Markup across all its credit cards, helping you save on international transactions. With forex costs now zero, let's compare other features that matter as well, such as fees, rewards, lounge access and travel benefits, to find the right card for you.

Compare these areas:

International rewards - More rewards can mean more value from your trips.

Card fees - Choose a card that fits your budget.

Lounge access - More lounge visits can make travel more comfortable.

Travel cover - Insurance benefits can add peace of mind.

Travel perks - Extra travel benefits can help you save more.

Eligibility - Choose between FD-backed and income-based card options.

Domestic rewards - Compare reward earnings on your regular spending categories.

Where can you use a zero-forex credit card?

The zero-forex markup applies to any international merchant payment, whether you are abroad or in India. Common uses include:

Overseas travel - Pay for shopping, hotels, flights and dining abroad.

International websites - Shop on global online stores.

Global subscriptions - Pay for streaming and app plans.

Software tools - Pay for SaaS tools billed abroad.

Education fees - Pay for overseas courses and certifications.

Business spends - Manage international advertising and business expenses.

How DCC can reduce your zero-forex savings

When spending abroad, merchants or ATMs may offer to charge you in INR instead of the local currency. This is known as Dynamic Currency Conversion (DCC) and may involve additional conversion charges.

To avoid these charges, always choose the local currency for payments and select ‘Decline Conversion’ at ATMs when offered DCC. This helps maximise the savings from your Zero Forex Markup credit card.

Does zero forex mean no other charges?

Zero forex removes the issuer markup only. Other charges can still apply:

Network rate - The card network's exchange rate still applies.

DCC charges - Dynamic Currency Conversion may apply if you select INR abroad.

Cash charges - Overseas ATM, cash advance and interest charges can apply.

Card fees - Joining and annual fees depend on the card.

Reward limits - Some categories are excluded or capped.

Refund rates - Exchange rates can differ on refunds.

Zero forex across IDFC FIRST Bank credit cards

Zero forex markup is available across IDFC FIRST Bank credit cards. So, every card has travel as its default. Now let’s look at some other features that help you shortlist the card for you.

FIRST Wealth – A strong choice if you travel regularly and value benefits like airport lounge access, travel insurance and accelerated rewards on travel-related spending.

FIRST Ashva – Designed for customers who travel frequently and want a more premium experience, with enhanced travel privileges, lounge access and lifestyle benefits.

Mayura – Built for customers seeking luxury travel and premium lifestyle experiences, with elevated travel benefits and privileges.

FIRST SWYP – A good fit if travel is just one part of your lifestyle and you want a card that rewards everything from travel bookings to dining, shopping and entertainment.

FIRST WOW! – An FD-backed option for those who want to enjoy zero forex markup on international spending while building their credit history.

Choose from a diverse range of IDFC FIRST Bank Credit Cards and find the one that best suits your lifestyle.

Conclusion

With Zero Forex Markup across the range, you can enjoy savings on international spends while choosing a card that matches your lifestyle. Explore rewards, travel benefits, lounge access and everyday value to find the right fit.

Frequently Asked Questions

Do international spends earn rewards?

Eligible international spends continue to earn rewards as per card terms. The FIRST WOW! Credit Card earns 4X reward points on international spends, and the FIRST Wealth Credit Card earns 10X. Fuel and EMI conversions are excluded. Check the reward terms for each card.

Are all zero forex cards lifetime free?

Not every card is lifetime free. The FIRST WOW! and FIRST Wealth cards have no joining or annual fee. The Mayura Credit Card has a joining fee of ₹5,999 + GST and an annual fee of ₹5,999 + GST from the second year.

Does zero forex include lounge access?

Lounge access is a separate benefit and depends on the card. The FIRST Wealth Credit Card includes one domestic and one international lounge visit per quarter, and the Mayura Credit Card includes four of each. Both are subject to spend criteria.

Can it be used for foreign subscriptions?

Yes. A zero-forex card applies the 0% markup to international merchant payments, including global subscriptions and software tools billed in foreign currency. Enable international usage on your card through the IDFC FIRST Bank mobile app or internet banking before you pay.

Are overseas ATM withdrawals free?

Zero forex does not make withdrawals free. On the FIRST WOW! FIRST Wealth and Mayura cards, ATM cash withdrawals are interest-free for up to 45 days, but a cash advance fee of ₹199 + GST applies per transaction. ATM operators may add charges.

Does zero forex protect against DCC?

Zero forex does not protect against DCC. DCC applies when a merchant or ATM converts the amount to rupees at its own rate, which can reduce your saving. Choose the local currency at shops and websites and select 'Decline conversion' at ATMs.

Should I pay in INR or local currency?

Pay in the local currency at shops, websites and ATMs. Choosing INR lets the merchant or ATM provider set the conversion rate and apply DCC. The local currency lets the card network convert the amount, with no markup added on your zero-forex card.

Do I still need a forex card?

A zero-forex credit card covers cashless payments, online purchases and ATM cash withdrawals without pre-loading any currency. You may still carry some local currency for small cash payments. Compare the fees on both options before you decide, and keep international usage enabled.

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.

The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirst.bank.in for latest updates.