Limited Time Offer
IDFC FIRST Bank has introduced the zero forex mark-up benefit applicable across its credit cards from September 9, 2026 onwards. Under this offer, eligible international transactions made in foreign currency will not attract the additional forex mark-up that credit card issuers typically charge. Depending on the card, forex mark-ups can range from 1% to 3.5%. For instance, the IDFC FIRST Ashva and IDFC FIRST Wealth Credit Cards currently carry forex mark-ups of 1% and 1.5%, respectively, while several other cards charge a 3.5% forex mark-up.
Under the new proposition, zero forex mark-up benefit will be available to both new IDFC FIRST Credit Card applicants and existing cardholders, making it accessible to a wider base of customers who use their cards for international transactions.
No Rewards on International Spends for Some Credit Cards
However, there is an important trade-off that customers should be aware of. For cards covered under the new zero forex mark-up offer, international transactions will no longer earn reward points from October 26, 2026. In other words, while customers will save on the forex mark-up, they will give up the rewards they would have otherwise earned on international spends.
Though there are some exceptions to this update as some cards like Ashva, IndiGo, Mayura, FIRST Private, FIRST WOW!, FIRST WOW! Black and Gaj: would still continue offering rewards on international spends. Among these, all cards already come with zero forex mark-up, except Ashva and IndiGo variants.
Also Explore: Best Credit Cards with Zero Forex Charges on International Transactions
Now, let us understand the impact of this update with an example of IDFC FIRST Wealth Credit Card:
| Particulars | Earlier | Under Zero Forex Mark-up |
|---|---|---|
| International Spend | $1,000 | $1,000 |
| Assumed Exchange Rate | Rs. 95/$ | Rs. 95/$ |
| Transaction Value | Rs. 95,000 | Rs. 95,000 |
| Forex Mark-up | 1.5% | 0% |
| Forex Fee | Rs. 1,425 | Nil |
| Forex Cost Saved | — | Rs. 1,425 |
| International Rewards | 4,750 Reward Points | Nil from Oct 26, 2026 |
In this example, the customer would save Rs. 1,425 in forex charges under the new proposition. However, they would also forgo the reward points previously available on international spends. Therefore, the overall value of the benefit will depend on how much a customer values the rewards they would have earned versus the forex charges they can save.
The benefit is likely to be particularly valuable for customers who make frequent or high-value international transactions, as the savings from eliminating the forex mark-up increase with the transaction value. Customers who prioritise lower transaction costs over rewards on overseas spends could therefore find the new proposition especially attractive.
