Key takeaways

  • From 9 September 2026, every IDFC FIRST credit card, old and new, charges zero forex markup.
  • That saves about ₹4,130 on every ₹1 lakh of foreign-currency spending, compared with a 3.5% card.
  • IDFC FIRST cancelled its plan to stop rewards on international spends from 26 October 2026, so cards keep earning as per their features.

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.

Rewards on international spends: no catch after all

Early reports said most IDFC FIRST cards would stop earning reward points on international transactions from 26 October 2026. The bank has withdrawn that plan. Its press release of 17 September 2026 says customers will continue to earn reward points or cashback on international transactions as per the features of their cards.

So you get both: no markup, and your card's usual rewards. Check the IDFC FIRST app for your card's exact earn rules before a big trip.

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.

How much you save: examples

International spend3.5% card (with GST)IDFC FIRST card
₹20,000₹826₹0
₹50,000₹2,065₹0
₹1,00,000₹4,130₹0
₹3,00,000₹12,390₹0

This covers foreign-currency purchases abroad and on international websites, such as software subscriptions billed in dollars. Watch for dynamic currency conversion abroad: if a shop offers to charge you in rupees, decline. See our trip guide.

Is there still a reward trade-off?

No. The bank first said most cards would stop earning points on international spends from 26 October 2026, then withdrew that. Its 17 September 2026 press release says cards keep earning reward points or cashback on international transactions as per their features. IDFC FIRST's lifetime free cards earn a modest base rate (about 0.375% on regular spends on our estimate, after the January 2026 change to a ₹200 earn basis), and now you keep that on top of paying no markup.

Which IDFC FIRST card should you use abroad?

  • IDFC FIRST Millennia: lifetime free and now zero-forex. A strong backup travel card.
  • IDFC FIRST Wealth: lifetime free, higher income requirement, and lounge access with ₹20,000 monthly spend.

Compare them with Scapia Federal Bank, which is also zero-forex and earns travel coins on international spends. See all options in our best travel credit cards and the full forex card vs credit card guide.

Before you travel

  1. Enable international transactions in the IDFC FIRST app.
  2. Carry a second card on a different network as backup.
  3. Don't withdraw cash on the credit card. Zero forex doesn't remove cash advance fees or interest.

Zero forex for online international purchases

Zero markup applies to foreign-currency transactions, not only to spending abroad. Common examples: software and cloud subscriptions billed in US dollars, international online shopping, foreign hotel bookings charged in local currency, and app-store purchases in foreign currencies. If you pay for ₹5,000 of dollar subscriptions a month, switching them to an IDFC FIRST card saves about ₹2,478 a year compared with a 3.5% card.

What zero forex doesn't cover

  • Cash withdrawals abroad still carry cash advance fees and interest from day one.
  • Dynamic currency conversion: if you let a merchant charge you in rupees, their exchange rate applies. Always pay in the local currency.
  • Merchants billing in rupees from abroad: some international merchants charge in INR through overseas processors, and banks may treat these differently. Check your statement.

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?

Yes. IDFC FIRST dropped its plan to stop rewards on international transactions from 26 October 2026. Its 17 September 2026 press release says cards keep earning reward points or cashback as per their features.

Does zero forex apply to cash withdrawals abroad?

The markup waiver applies to eligible foreign-currency transactions, but credit card cash withdrawals still attract cash advance fees and interest from day one. Avoid them.

Do I need to apply for zero forex on my IDFC FIRST card?

No. It applies automatically to existing and new IDFC FIRST credit cards from 9 September 2026.

Is IDFC FIRST zero forex available on debit cards too?

The announcement covered IDFC FIRST credit cards. Check the bank's website for debit card terms.

Sources

About the author

Deepak

Founder & Editor, CardPicker

Deepak founded CardPicker and writes and fact-checks its credit card guides, comparisons and news.

✓ Fact-checked 28 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.