Having an international credit card is ideal for frequent travellers and students planning to study abroad. These cards offer the convenience of making payments in foreign currencies without dealing with forex conversions separately. You can get the best international credit cards from HDFC Bank, IDFC First Bank, ICICI Bank, etc.
However, to choose the right card, it is important to check forex markup fees, benefits offered, currencies supported, and other associated costs. So, let’s explore more details about international credit cards before you apply for one. Also, understand how they work.
Table of contents
- What are International Credit Cards?
- Features of International Credit Cards
- Benefits of International Credit Cards
- Popular International Credit Cards in India
- Charges Associated with International Credit Cards
- Best International Credit Cards with No Foreign Transaction Fees
- Eligibility Criteria
- Documents Required to Apply for International Credit Cards
- How to Apply for International Credit Cards?
- Things to Keep in Mind When Choosing International Credit Cards
- FAQs
What are International Credit Cards?
An international credit card allows you to make payments and transactions in foreign currencies anywhere in the world.
These cards are linked to global payment networks like Visa, Mastercard, or American Express, ensuring they are accepted by millions of merchants worldwide. Unlike regular credit cards, international credit cards are specifically designed to facilitate seamless cross-border transactions.
Features of International Credit Cards
International credit cards come with multiple features and benefits. From being globally accepted and making secure payments to automatically converting currencies and minimal transaction fees, they are just ideal for foreign transactions.
- Global Acceptance- These cards are accepted at international merchant establishments, online stores, and ATMs across the globe.
- Currency Conversion- Transactions automatically convert foreign currencies to the card’s home currency at the time of purchase, often at competitive exchange rates.
- Multi-Currency Transactions- They allow you to make payments in foreign currencies, automatically converting your spending into your home currency.
- Forex Markup Fees- International credit cards typically incur a foreign currency markup fee (ranging from 1.5% to 3.5%) for international transactions.
- Rewards and Benefits- Many international credit cards offer travel-specific perks, such as air miles, lounge access, and exclusive discounts on hotel bookings.
- Emergency Assistance- Cardholders can often access 24/7 global assistance for lost or stolen cards, emergency cash advances, and other services.
Benefits of International Credit Cards
With features tailored to enhance the travel experience, international credit cards also offer added benefits like travel insurance, airport lounge access, simplified payments during international travel and online shopping, and much more. Check out the benefits below-
- They offer convenience. You can avoid the hassle of carrying large amounts of foreign currency.
- They come with enhanced security. All international transactions are protected with advanced security features, including chip-and-PIN technology and two-factor authentication.
- You can earn points, cashback, or air miles on every transaction, which can be redeemed for travel, gifts, or other benefits.
- Many cards come with complimentary travel insurance covering lost baggage, trip cancellations, and medical emergencies.
- Regular usage and timely repayments help build a strong credit score, improving your financial credibility.
- Premium international credit cards may offer complimentary access to airport lounges, enhancing the travel experience. For example, Axis Bank credit cards with international lounge access offer luxury, convenience, and a suite of benefits.
Popular International Credit Cards in India
Many Indian banks like HDFC Bank, ICICI Bank, Axis Bank, IDFC First Bank, etc offer the best international credit cards. They come with a diverse range of features and reward-earning benefits. However, you must pay an annual fee for card maintenance and to avail of the services.
Check out some of the best international credit cards in India.
| Credit Card | Annual/ Joining Fees | Features | Benefits |
| HDFC Regalia Gold Credit Card | INR 2,500 + taxes | 1. Complimentary Club Vistara Silver Tier membership. 2. 12 free lounge accesses within India. | 1. 5X Reward Points on select brands. 2. INR 1,500 vouchers on quarterly spends of INR 1.5 lakh. |
| HDFC Diners Club Black Edition Credit Card | INR 10,000 + taxes | 1. Unlimited lounge access globally. 2. Concierge services available 24/7. | 1. Comprehensive travel insurance. 2. High reward points on international spending. |
| HDFC INFINIA METAL Edition Credit Card | INR 12,500 + taxes | 1. Unlimited access to airport lounges worldwide. 2. Metal card design for a premium feel. | 1. Exclusive rewards on travel and dining. 2. Complimentary travel insurance coverage. |
| HDFC World MasterCard Credit Card | First-year membership is free by spending INR 15,000 within the first 90 days | 1. Global acceptance with Mastercard benefits. 2. Enhanced security features with EMV chip. | 1. Reward points on every purchase. 2. Travel-related discounts and offers. |
| Bank of India VISA Platinum International Credit Card | INR 500 | 1. Global acceptance with Visa network. 2. Insurance coverage for travel-related emergencies. | 1. Reward points on international transactions. 2. Discounts on hotel bookings abroad. |
| Bank of India VISA Gold International | INR 300 | 1. International usage with Visa benefits. 2. Emergency card replacement services are available. | 1. Cash withdrawal facility at ATMs worldwide. 2. Reward points for every spend abroad. |
| IDFC First Bank WOW Credit Card | NIL | 1. Zero forex markup charges. 2. Instant approval process for eligible customers. | 1. Cashback on international spending. 2. No annual fee for a lifetime with minimum spending. |
| SBI Card Elite | INR 4,999 | 1. Complimentary airport lounge access. 2. Access to exclusive experiences and offers through SBI’s network. | 1. Reward points on every spend. 2. Comprehensive travel insurance benefits included. |
| AU Bank Zenith+ Credit Card | INR 3,000 | 1. Unlimited lounge access across India and abroad. 2. Enhanced reward points program for travellers. | 1. Cashback on international purchases. 2. Travel insurance coverage included in benefits. |
| RBL Bank World Safari Credit Card | NIL | 1. Zero forex markup charges on international transactions. 2. Designed specifically for travellers. | 1. High reward points on international spending. 2. Travel-related discounts and offers available. |
| ICICI Bank Signature Credit Card | INR 3,500 | 1. Complimentary airport lounge access worldwide. 2. Offers exclusive dining privileges and discounts. | 1. Zero forex markup charges on international transactions.2. Designed specifically for travellers. |
| ICICI Bank Platinum Credit Card | NIL | 1. Global acceptance with Visa/Mastercard benefits. 2. Enhanced security features with chip technology. | 1. Cashback offers on various categories. 2. Reward points for international transactions. |
| Scapia Federal Bank Credit Card | Varies | 1. Designed for frequent travellers with global acceptance. 2. Offers additional travel perks and discounts. | 1. Reward points on all spends. 2. Special offers for travel bookings through partners. |
| Axis Bank Magnus Credit Card | INR 5,000 | 1. Unlimited airport lounge access worldwide. 2. Premium concierge services available for cardholders. | 1. High reward points on international spending. 2. Complimentary travel insurance included. |
Also Read: RBL Bank is a leading private bank in India and it has a good track record in forex services. Check out this blog on RBL Bank Forex Cards for Students.
Charges Associated with International Credit Cards
While international credit cards offer numerous benefits, it’s essential to be aware of potential charges. These include annual charges for card maintenance, foreign transaction fees withdrawal fees for cash withdrawals abroad, and dynamic currency conversion fees.
Annual Fees
Most international credit cards come with an annual maintenance fee. The amount varies based on the card’s features and benefits—premium cards with added perks typically have higher fees.
Foreign Transaction Fees
A foreign transaction fee is usually applied to purchases made in a currency other than your home currency. This fee generally ranges from 1% to 3% of the transaction value and covers the cost of currency conversion.
ATM Withdrawal Fees
If you use your international credit card to withdraw cash from ATMs abroad, you may incur additional charges. These fees can either be a flat rate or a percentage of the withdrawal amount, often around 2.5% to 3.5%, plus applicable taxes.
Dynamic Currency Conversion (DCC) Fees
At some points of sale, merchants may offer to charge your card in your home currency instead of the local currency—a process called dynamic currency conversion. While this might seem convenient, it often involves unfavourable exchange rates and extra fees. It’s usually better to pay in the local currency.
Alternatives to International Credit Cards
While international credit cards are a great option, other alternatives can help manage cross-border expenses and reduce the charges-
Prepaid Forex Cards
There are travel cards that can be loaded in multiple currencies. You can make foreign transactions at lock-in exchange rates to avoid markup fees. Some of the best Forex cards for students and travellers ensure smooth financial management abroad.
International Debit Cards
Linked to your bank account, these cards offer limited but convenient usage abroad. While they have convenient withdrawal limits, international debit cards foreign transactions fees range up to 3.5% of the transaction amount.
Best International Credit Cards with No Foreign Transaction Fees
Many international credit cards are also available that do not charge a foreign transaction fee (also known as mark-up fees) on foreign currency conversions on international transactions. Such cards are called zero Forex Markup credit cards.
Most of them do not charge issuance or annual fees. Thus, they help you avoid paying additional costs and enjoy a hassle-free experience abroad. Some of the best international credit cards with no foreign transaction fees are-
- WOW Credit Card by IDFC First Bank
- Mayura Credit Card by IDFC First Bank
- World Safari Credit Card by RBL Bank
- Regalia ForexPlus Card by HDFC Bank
- Scapia Co-branded Credit Card by Federal Bank
Eligibility Criteria
The eligibility criteria for obtaining an international credit card can vary based on the issuing bank and the specific card type. However, common requirements include fulfilling age and income criteria. Check out the eligibility criteria to apply for international credit cards-
Age
Applicants must typically be between 18 to 65 years old. Some banks may have a minimum age requirement of 21 years for premium cards.
Income
A stable monthly or annual income is necessary, with minimum income requirements varying by card type. Generally, an annual income of INR 400,000 or more is preferred.
Employment Status
Applicants can be either salaried or self-employed. Proof of employment and income stability is essential.
Credit Score
A good credit score (usually above 750) is preferred as it reflects the applicant’s creditworthiness and repayment capacity.
Residential Status
Both resident Indians and Non-Resident Indians (NRIs) can apply, although NRIs may need additional documentation regarding their employment and residency status abroad.
Existing Financial Obligations
Banks assess your existing loans and liabilities to ensure that you can manage additional credit without over-leveraging yourself.
Documents Required to Apply for International Credit Cards
When applying for an international credit card, applicants must provide specific documentation to verify their identity, income, and residential status. Commonly required documents include documents related to identity proof, income proof, and employment verification. Check out the documents required for international credit cards-
| Identity Proof | Aadhaar card, PAN card, voter ID, passport, or driver’s license. |
| Address Proof | Utility bills, rental agreements, or bank statements. |
| Income Proof | Salary slips, bank statements, or income tax returns. |
| Employment Verification | For salaried individuals: Employment letter or recent salary slips.For self-employed individuals: Business registration documents or tax returns. |
| Additional Documents for NRIs | Proof of NRI status (such as a valid visa), employment details abroad, or a copy of a resident permit in the overseas destination. |
How to Apply for International Credit Cards?
Before applying for international credit, you must ensure that you fulfil the eligibility criteria set by the bank. Then, prepare the necessary documents for your application. You can then apply online through the bank’s website or visit a branch. Follow the given steps to apply for international credit cards-
- Evaluate various international credit cards offered by different banks based on your travel needs, spending habits, and benefits.
- Ensure checking eligibility and preparing the necessary documents.
- Fill out the application form with accurate personal and financial information.
- Submit your completed application form along with all required documents. If applying online, ensure that you upload digital copies of your documents as instructed.
- After submission, the bank will process your application.
- If approved, you will receive a notification from the bank regarding your application status.
Also Read: Want to plan your budget wisely against exchange rate fluctuations? Learn all about locking exchange rates with currency hedging for students.
Things to Keep in Mind When Choosing International Credit Cards
Selecting the right international credit card involves careful consideration of several factors. One must explore and review the features and benefits of the card that would suit their needs and requirements.
It is also important to explore the costs associated with them and other factors like customer support, travel perks, etc. Check out important things to keep in mind when choosing an international credit card-
Charges
Review the annual fees, foreign transaction fees (typically 1-3%), ATM withdrawal fees, and any other charges associated with the card.
Rewards and Benefits
Look for cards that offer rewards points on international spending, cashback offers, travel insurance, and other travel-related benefits like lounge access.
Exchange Rates
Some cards offer competitive exchange rates with low forex markup fees. This can lead to significant savings during international transactions.
Security Features
Ensure the card has robust security features such as EMV chip technology, OTP verification for online transactions, and fraud protection services.
Customer Support
Check if the bank provides 24/7 customer support for international transactions in case of emergencies like lost cards or fraudulent activities.
Travel Perks
Consider additional travel benefits such as complimentary travel insurance, emergency assistance services, and discounts on hotel bookings or flight reservations.
This was all about the international credit cards. Make sure to consider factors such as fees, rewards, security features, and customer support options to select a card that best suits your travel needs and financial goals.
FAQs
An international credit card allows you to make purchases and withdraw cash in foreign countries. It is accepted globally at merchants and ATMs that support networks like Visa, MasterCard, or American Express.
Credit cards from major networks like Visa, MasterCard, American Express, and Discover can be used internationally. Examples include HDFC Regalia, SBI Card Elite, and ICICI Bank Signature Credit Card.
The best international credit cards include HDFC Infinia, RBL World Safari, SBI Card Elite and IDFC First WOW Credit Card. They offer benefits like low foreign transaction fees, travel rewards, and lounge access.
Yes, RuPay credit cards are now accepted internationally through partnerships with Discover and JCB networks. However, acceptance may be limited compared to Visa or MasterCard.
Yes, Indian credit cards with international usage enabled can be used abroad. However, you need to ensure that the card is activated for global transactions before travelling.
International credit cards offer a range of benefits. They are accepted globally and offer protection against fraud with enhanced security features. Users can earn rewards on international spending and enjoy lounge access at domestic and international airports.
International credit cards usually charge a foreign transaction fee of 1 to 3% of the transaction amount. Users are also charged ATM withdrawal fees, currency conversion fees, and dynamic currency conversion fees.
Cards like RBL World Safari, IDFC First WOW, and HDFC Infinia Metal Edition offer zero forex markup fees for cost-effective international transactions.
A person who is 18 years and above can apply for international credit cards. They must have a good credit score (750+ preferred) and stable income (INR 4 lakh+ annually for premium cards).
To apply for international credit cards, you need to research and choose a suitable card. Check eligibility on the bank’s website and apply online or at a branch with the required documents (identity proof, income proof). Wait for approval and activate the card upon receipt.
To learn more about education loans, the best bank accounts for students, forex, banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
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