💳 Zero Markup Credit Cards in India (2026 Guide)
Planning to travel abroad and tired of heavy conversion charges on your credit card?
Zero Markup Credit Cards let you spend internationally with ZERO or LOW foreign exchange charges.
In this guide, we’ll cover the best zero markup cards available in India, their perks, fees, eligibility, and which one is best for you.
🔍 What is a Zero Markup Credit Card?
A Zero Markup Credit Card is a credit card that charges no foreign exchange (forex) markup on international transactions — which means you pay almost exact exchange rate without the usual 3–4% markup most cards charge.
This can save you thousands of rupees on overseas spending.
💸 Why Zero Markup Matters for Travelers
Most international credit cards charge:
❌ 3.5% (+GST) on foreign spends
Zero markup cards charge:
✅ 0% – 1% (much lower)
Example:
Spending $100 (approx ₹9,000) abroad
| Card Type | Forex Markup | INR Cost |
|---|---|---|
| Regular Card | 3.5% | ₹9,315 |
| Zero Markup Card | 0% | ₹9,000 |
| Savings | — | ₹315+ per $100 |
Over a long trip, savings can be ₹5,000–₹20,000+.
🏆 Best Zero Markup & Low-Markup Cards for Indians (2026)
1️⃣ Niyo Global Card
▸ Zero forex markup
▸ Works like a card (credit/debit hybrid)
▸ Great for ATM + POS
▸ Free virtual & physical card
💡 Best for: Students & travelers who prioritize low cost
📌 Charges:
- Forex Markup: 0%
- Issuance Fee: ₹0
- ATM Fees: Medium
- Reload: ₹0
Note: Works more like a travel debit/forex combo but often listed with cards for travel.
2️⃣ HSBC Platinum Credit Card
✔ 0% Forex Markup on international spends (special promo)
✔ Travel vouchers & rewards
✔ Premium customer support
💰 Typical Fees:
- Annual Fee: ₹2,500 (waivable on spend)
- Forex Markup: 0% – 1% depending on offer
- Lounge Access: Limited
Best for: Frequent travelers who want perks + no markup
3️⃣ Axis Bank Magnus Credit Card
✔ Airport lounge access
✔ Concierge services
✔ Travel credits
✔ Low forex markup (~1%)
💡 Best for travelers who want premium perks + low forex fees.
4️⃣ Standard Chartered Manhattan Platinum
✔ No annual forex markup on selected spends
✔ Redemption points
✔ Cashback on international transactions
💳 Fees:
- Annual Fee: ₹999
- Forex: Lower than usual
Great balance of value + comfort.
🧠 Zero Markup vs Low Markup — What’s the Difference?
| Card Category | Forex Markup | Best For |
|---|---|---|
| Zero Markup | 0% | Maximum savings |
| Low Markup | ~1–1.99% | Savings + perks |
| Regular Travel Card | 2.5–3.5% | Basic benefits |
Zero Markup > Low Markup > Regular Cards
🧳 When to Use These Cards
Use zero/low markup cards for:
✔ International dining
✔ Hotel bookings
✔ Flight bookings abroad
✔ Car rentals
✔ Online international transactions
✔ Shopping abroad
⚠ Avoid for:
✖ ATM withdrawals (higher cash advance fees)
🧾 Airline Tickets & Forex Markup
Most airline bookings made abroad are charged as international transactions.
With zero markup, you save on:
✈ Airfare
✈ Hotel charges
✈ Train/metro booking overseas
📝 Tips to Maximize Savings
✔ Use zero markup for daily spends abroad
✔ Use reward cards for hotel/airline booking
✔ Avoid ATM withdrawals on credit cards
✔ Pay card bills immediately to avoid interest
❓ Frequently Asked Questions (FAQ)
Q1: Are existing credit cards eligible for zero markup?
✔ Only some high-end or partnered cards may offer promos with 0% markup.
Q2: Do travel cards have a foreign transaction fee?
✔ Regular travel cards usually do; zero markup cards may not.
Q3: Is a zero markup card better than a forex card?
✔ It depends — forex cards often have lower overall fees, but zero markup cards add rewards.
Q4: Should students abroad carry these cards?
✔ Yes — for convenience + lower forex fees.
📌 Disclaimer
This article is for informational purposes only. Actual policy terms and coverage may vary. Always read the policy wording or consult a licensed insurance professional.