Credit Card Foreign Transaction Fees In India Are A Way Of Life
Credit cards are an absolute necessity for travel now. When it comes to foreign trips and tours, credit cards turn out to be the best option to travel light in cash and remain safe, many offering valuable travel services. They are clearly the best option for all your transactions from dining and shopping, to airfare. However, a concern that comes to one’s mind is what charges do these credit cards incur while making those foreign transactions? Are these charges high? Are they bearable? Are there any credit cards, which charge no fee for such transactions?
Well many cards available abroad do not charge any fee for foreign transactions. Yes, cards from America and across Europe can charge as low as a 0% fee on foreign transactions. However in the context of India, the credit card companies have yet to offer such a perk. The unfortunate reality is, in India all credit cards charge minimum at least 2% as a foreign transaction fee. No credit cards exist in India that charge 0% fee. Also, only the premium credit cards charge a minimal fee of 2% – ordinary cards might charge you much more, so be sure you know before you charge abroad.
Some of the travel credit cards from India which charge the bare minimum of 2%, are:
HDFC Regalia Credit Card
If you are up for a credit card that offers maximum travel and other benefits, then HDFC Regalia is the perfect partner for you. It offers high membership rewards. It brings a broad range of benefits. It is extremely secure and can be used for all types of transactions.
Features of HDFC Regalia Credit Card:
- Interest rate as low as 1.99% for each month and interest free grace period to pay off credit card balance in 50 days
- While paying the annual fee, get a welcome bonus of 2500 reward points
- For every transaction of Rs. 150, get 8 reward points
- Avail great offers on HDFC from Matrix cellular on smart buy platform
- The magnetic strip and a chip provide high security and greater acceptability to the card
Benefits of HDFC Regalia Credit Card:
- Avail medical insurance while travelling abroad of up to Rs 12 lakh.
- With Priority Pass Membership, enjoy complimentary access to about 600 international airport lounges.
- At HDFC Bank Travel and Entertainment Portal get awesome deals on movies, flight tickets, hotel bookings.
- Along with complimentary Tajo Epicure plus Membership Card, get special rewards, benefits and discounts.
Eligibility and Documentation for HDFC Regalia Credit Card:
- For all salaried professional applying for the credit card, their age should be between 21 years and 60 years.
- Applicants who are self employed, their age should be minimum 21 years but should not exceed 65 years.
- There is need to provide documents like address proof, identity proof, income proof etc.
Fees & Charges of HDFC Regalia Credit Card:
- HDFC Regalia credit card charges an annual fee of Rs. 2500.
- It charges fees of 2% on all foreign transactions.
How to redeem the Reward Points of HDFC Regalia Credit Card?
The reward points can be redeemed in transaction of movie bookings, flight tickets, mobile recharge etc. on Regalia portal.
HDFC Diners Club
If you are up for a credit card to make you’re shopping more beneficial, than HDFC Diner Club Rewards Card is an appropriate one. You will get reward points on billing your purchases from the card. It is irresistible because of its dedicated service and benefits.
Benefits of HDFC Diners Club Rewards Card:
- Get 2500 reward points as a welcome benefit on receiving the HDFC Diners Club Rewardz Card.
- To assist with dining referrals and reservations, get access to 24*7 concierge desks.
- Get complete fuel surcharge waiver on transactions between Rs.400 and Rs. 500.
- At rate of interest of 3.15%, enjoy the revolving credit for each month.
Features of HDFC Diners Club Rewardz Card:
- On every transaction of Rs. 150, get 3 reward points.
- Get twice the number of reward points on grocery, dining, airline ticketing and supermarket purchases.
- Get double reward points for transactions more than Rs.10, 000 on retail.
- Get access to around 450 airport lounges as a member.
- In case of death in air accident, you nominated next kin will receive a compensation cover of Rs. 50 lakh.
- From the date of purchase of credit card, customers are given 50 interest free credit days.
Eligibility and Documentation for HDFC Diners Club Rewardz Card:
- For all salaried professionals, minimum age of the applicant should be 21 years and not more than 60 years to apply. Self employed applicants should be minimum 21 years of age and maximum 65 years of age to apply.
- For verification, applicants will have to submit an identity proof and address proof documents. Like, PAN card, income tax return and Form 6o during the application process.
Fees & Charges of HDFC Diners Rewards Card:
- Joining fee of HDFC Diner Club Rewards Card is Rs. 1,500.
- Renewal fee is Rs. 500; this is chargeable from the second year of joining.
- Additional charge of 2% on all foreign transactions
How to redeem the Reward Points of HDFC Diners Club Rewardz Card?
- Reward points earned by a customer can be used against air miles. They can be redeemed from leading carriers across the country.
- These points can also be redeemed for transactions on merchandise and services from rewards catalogue.
- The reward points can also be redeemed online by using HDFC Net Banking Portal.
The above cards are those that charge minimum 2% fee on all foreign transactions. Do look for Chase and other credit cards in foreign currency, which can be used for your foreign transactions. These charge 0% fee on foreign transactions.