Best Zero and Low Forex Credit Cards in India
Forex markup is only one part of overseas card value. This shortlist separates the published markup from reward eligibility, annual fees and travel benefits so the cheapest-looking card does not automatically win.
Cards below are ordered by lowest published forex markup, then annual fee — never by affiliate payout.
Short answer
IDFC FIRST Bank FIRST WOW! Credit Card (FD-secured) carries the lowest published forex markup of the 14 issuer-verified zero and low forex cards CardMasters tracks (0%), ahead of Federal Bank Scapia and slice UPI Credit Card. That ordering is a model of one stated spending profile, not a verdict on yours: your own winner depends on what you actually spend, the cards you already hold, how you redeem, and issuer approval fit. Records checked 2026-08-25.
Source: CardMasters issuer-evidence catalogue, release 2026-08-25. Confirm final terms with the issuer.
What to check before applying
- Estimate annual forex savings from your actual international spend.
- Check whether international transactions earn rewards or are explicitly excluded.
- Compare network acceptance, fees and issuer approval fit before applying.
IDFC FIRST Bank FIRST WOW! Credit Card (FD-secured)
₹0
4 Reward Points per ₹200 on online, offline and international spends
0%
Visa, RuPay
Best suited to: lifetime free, first credit card, credit builder, low forex. Recorded exclusions: fuel, emi, cash advance, fees, balance transfer.
Review rewards, caps, fees and issuer evidence →Federal Bank Scapia
₹0
10 Scapia Coins per ₹100 on eligible Visa spends (worth ₹2 toward Scapia travel)
0%
Visa, RuPay
Best suited to: international travel, zero forex, young traveler. Recorded exclusions: rent, fuel, wallet load, emi, intl, education, gift card, card payment.
Review rewards, caps, fees and issuer evidence →slice UPI Credit Card
₹0
1% cash value at the entry redemption slab on eligible domestic spends
0%
RuPay
Best suited to: upi credit. Recorded exclusions: fuel, rent, wallet load, insurance, emi, education, government, gaming.
Review rewards, caps, fees and issuer evidence →Bank of Baroda (BOBCARD) Uni GoldX Credit Card
₹0
1% value back as Uni Coins on eligible transactions
0%
RuPay
Best suited to: rewards, lifetime free, upi credit. Recorded exclusions: fuel, rent, wallet load.
Review rewards, caps, fees and issuer evidence →RBL Bank World Safari
₹3,000 + GST
2 Reward Points per ₹100 on eligible domestic retail spend; international purchases earn no Reward Points
0%
Mastercard World
Best suited to: international travel, zero forex. Recorded exclusions: fuel, insurance, international spend, rent, wallet load.
Review rewards, caps, fees and issuer evidence →₹5,000 + GST
2 Etihad Guest Miles per ₹100 on eligible domestic and cross-border spends
0%
Visa
Best suited to: travel, international travel, air miles, forex free. Recorded exclusions: fuel.
Review rewards, caps, fees and issuer evidence →IDFC FIRST Bank FIRST Mayura Metal Credit Card
₹5,999 + GST
5 Reward Points per ₹150 on eligible spends up to ₹20,000 in a statement cycle
0%
Visa Infinite
Best suited to: travel, lounge, low forex, international. Recorded exclusions: cash advance, fees.
Review rewards, caps, fees and issuer evidence →IDFC FIRST Bank Gaj (Metal)
₹12,500
5 RP/₹150 on eligible spends
0%
Visa
Best suited to: travel, premium, forex free. Recorded exclusions: fuel, emi, fees, loan, balance transfer, cash withdrawal.
Review rewards, caps, fees and issuer evidence →MakeMyTrip ICICI Bank
₹999 + GST
1 myCash per ₹100 on eligible other retail spend
0.99%
Mastercard, RuPay
Best suited to: travel, makemytrip, low forex. Recorded exclusions: rent, cash advance, late payment fee, emi, fees, balance transfer, personal loan.
Review rewards, caps, fees and issuer evidence →AU Small Finance Bank Zenith+
₹4,999 + GST
1 Reward Point per ₹100 on eligible general spends
0.99%
Visa Infinite
Best suited to: domestic travel, lounge. Recorded exclusions: fuel, rent, education, govt, emi, cash advance, quasi cash.
Review rewards, caps, fees and issuer evidence →₹2,500 + GST
1 Etihad Guest Mile per ₹100 on eligible domestic and cross-border spends
1%
Visa
Best suited to: travel, international travel, air miles, low forex. Recorded exclusions: fuel.
Review rewards, caps, fees and issuer evidence →IDFC FIRST Bank FIRST Ashva Metal Credit Card
₹2,999 + GST
5 Reward Points per ₹150 on eligible spends up to ₹20,000 in a statement cycle
1%
Visa Infinite
Best suited to: travel, lounge, low forex. Recorded exclusions: cash advance, fees.
Review rewards, caps, fees and issuer evidence →Yes Bank Marquee
₹4,999 + GST
18 YES Rewardz Points per ₹200 on eligible offline and other non-accelerated retail spend
1%
Mastercard World Elite
Best suited to: international lounge, movies, low forex. Recorded exclusions: fuel, rent, wallet load, government, marketing advertising, cash advance, fees, post purchase emi.
Review rewards, caps, fees and issuer evidence →ICICI Bank Times Black
₹20,000 + GST
2 ICICI Bank Reward Points per ₹100 on eligible domestic spend
1.49%
Visa Infinite
Best suited to: travel, luxury, high spender, low forex. Recorded exclusions: fuel, rent, emi.
Review rewards, caps, fees and issuer evidence →Frequently asked questions
Which is the best zero and low forex card in India?
On the benchmark wallet CardMasters publishes on this page (₹38,000 of monthly spend), IDFC FIRST Bank FIRST WOW! Credit Card (FD-secured) returns the most across 14 issuer-verified options — ₹1,905 a year after the annual fee, monthly caps and excluded categories. The cheapest to hold is IDFC FIRST Bank FIRST WOW! Credit Card (FD-secured) at ₹0 a year. Which of those matters more depends on your own spending, the cards you already hold, how you redeem and issuer approval fit. Ranking never uses affiliate payout.
How many zero and low forex cards does CardMasters track?
This shortlist shows 14 cards, each with a dated issuer-source check. The full CardMasters directory covers 96 active Indian credit cards.
Does affiliate commission affect this shortlist?
No. Affiliate payout is not used to select, order or value cards. A card can appear without a monetized application link, and every tracked campaign is disclosed separately.
How current is the card information?
Every card on this page has a dated issuer-source record. This catalogue release was published 2026-08-25, but credit-card terms can change after publication, so confirm final terms with the issuer.
What should I check before applying for a zero and low forex card?
Estimate annual forex savings from your actual international spend. Approval, credit limit and final pricing remain at the issuer's sole discretion.