Top Credit Cards with No Foreign Transaction Fees for Indians

Planning an international trip? One of the smartest financial moves you can make is getting a credit card with no foreign transaction fees. These fees, typically around 3% per transaction, can quickly add up and strain your travel budget. But with the right card in your wallet, you can shop, dine, and explore abroad without worrying about these pesky charges. In this guide, we’ll walk you through the best credit cards for Indians with no foreign transaction fees in 2024.

Understanding Foreign Transaction Fees

What are foreign transaction fees?

When you use your Indian credit card to make a purchase in a foreign currency, your bank charges a foreign transaction fee. This fee, usually 2-3% of the transaction amount, covers the cost of converting the currency. For example, if you spend $1000 abroad with a card that has a 3% foreign transaction fee, you’ll pay an extra ₹2,200 (assuming $1 = ₹73). Over a week-long trip, these charges can really add up!

How to spot foreign transaction fees

To know if your card charges foreign transaction fees, check your credit card terms and conditions. Look for phrases like “currency conversion charge,” “foreign transaction fee,” or “international transaction fee.” If you’re unsure, call your bank and ask about these charges before your trip.

Benefits of a no foreign transaction fee card

With a no foreign transaction fee credit card, you can:

• Save 2-3% on every international purchase

• Avoid surprise charges on your statement

• Enjoy a more relaxed, stress-free trip

• Make the most of your travel budget

Top Credit Cards with No Foreign Transaction Fees

1. Airtel Axis Bank Credit Card
Annual fee: ₹500, waived on spending ₹2 lakh annually
Rewards: 4% cashback on Airtel services, 1.5% on others
Airport lounge access: 2 free visits per quarter

2. HDFC Regalia First Credit Card
Annual fee: ₹1,000, waived on spending ₹2 lakh annually
Rewards: 4 reward points per ₹150 spent, 1% fuel surcharge waiver
Airport lounge access: 6 free visits annually

3. SBI Elite Credit Card
Annual fee: ₹4,999
Rewards: 5 reward points per ₹100 spent, ₹5,000 worth of gift vouchers
Airport lounge access: Unlimited domestic, 6 international visits

Here’s a quick comparison of their key features:

Making the Most of Your No Foreign Transaction Fee Card

1. Inform your bank about your travel plans

• Avoid potential fraud alerts and card declines

• Update your contact info for easy communication

   

2. Use your card for all foreign currency spends

• Maximize your savings on the foreign transaction fee

• Track your expenses easily with digital statements

3. Pay in the local currency when prompted

• Get the best exchange rate directly from Visa/Mastercard

• Decline merchant currency conversions to avoid extra charges

4. Keep some backup payment options handy

• Carry a second credit card and some cash

• Helpful if your primary card is lost, stolen, or declined

Choosing the Right No Foreign Transaction Fee Card

Consider the following factors when picking a card:

• Your travel habits: frequency, destinations, spending categories

• Rewards and perks: cashback, points, lounge access, insurance

• Annual fees vs. savings: pick a card whose benefits justify the cost

For instance, if you’re a frequent flyer who values airport lounges, the SBI Elite Credit Card could be a great fit. If you want to save on Airtel spends along with foreign transactions, the Airtel Axis Bank Credit Card is worth considering. Headed for a one-time trip? The HDFC Regalia First Credit Card waives the annual fee with enough spending.

You can check your eligibility and apply for these cards online:

• Airtel Axis Bank Credit Card

• HDFC Regalia First Credit Card

• SBI Elite Credit Card

   

Before applying, you can also check your eligibility and credit score for free using the Airtel Thanks App.

Conclusion:

A no foreign transaction fee credit card is a must-have for any Indian traveler. By saving 2-3% on every international purchase, these cards can help you stretch your travel budget further. Whether you’re a frequent flyer or an occasional holidaymaker, there’s a card out there that suits your needs. So before you jet off on your next adventure, make sure you have the right plastic in your pocket. Bon voyage!

FAQs:

1. Which card has no international transaction fee?
Some popular Indian credit cards with no foreign transaction fees are the Airtel Axis Bank Credit Card, HDFC Regalia First, and SBI Elite Credit Card.

2. How do I avoid international transaction fees?
To avoid foreign transaction fees, use a credit card that specifically waives these charges. Many travel credit cards in India offer this perk.

3. Which bank has free foreign transaction fee?
Banks like Axis, HDFC, and SBI offer credit cards with no foreign transaction fees. However, these cards may have other charges, like annual fees.

4. What credit cards don’t charge fees abroad?
Credit cards like the Airtel Axis Bank Card, HDFC Regalia First, and SBI Elite don’t charge any foreign transaction fees on international purchases.