IDFC FIRST Bank has removed the forex markup on all of its credit cards, existing and new, from 9 September 2026. Reports describe it as the first Indian bank to make its whole portfolio zero-forex without a spend condition or upgrade.

What changed

  • International transactions in a foreign currency no longer attract the 1.5–3.5% markup, or the 18% GST that was charged on it.
  • It applies automatically. You don't need to apply for a new card or upgrade.
  • Both lifetime free cards, such as IDFC FIRST Millennia and IDFC FIRST Wealth, and paid cards are covered.

How much you save

On a ₹1,00,000 international spend, a 3.5% markup plus GST costs ₹4,130. On an IDFC FIRST card that charge is now zero. You can run your own numbers in our forex markup calculator.

The catch: rewards on international spends

According to reports on the bank's announcement, most cards covered by the zero-forex change will stop earning reward points on international transactions from 26 October 2026. Some premium and co-branded cards (such as Ashva, Mayura, FIRST Private and the IndiGo cards) are reported to keep earning. Coverage of this detail has been mixed, so check the latest terms in the IDFC FIRST app before a big trip.

For most travellers the trade-off is still positive. A reward rate below 1% is worth much less than the 3.5%+ markup it replaces.

How it compares

Scapia Federal Bank was the best-known zero-forex lifetime free card. It still earns travel rewards on international spends, so frequent flyers may prefer it. IDFC FIRST cards now make a strong backup card for travel and foreign websites.

FAQs

Which IDFC FIRST credit cards have zero forex markup?

From 9 September 2026, all IDFC FIRST Bank credit cards, both existing and new, charge zero forex markup.

Do IDFC FIRST cards still earn rewards on international spends?

Reports say most cards stop earning points on international transactions from 26 October 2026, while some premium and co-branded cards keep earning. Check the latest terms with the bank.

Sources

✓ Fact-checked 26 September 2026Prices, dates and card terms in this article were checked against issuer websites, official pages and news reports listed under Sources. Card figures come from our database, which is re-verified regularly. Offers change often, so confirm on the issuer's site before you buy or apply. Spotted an error? Tell us.