Now-a-days, Credit Card is a necessity which one time used to be an identity of rich people in countries like India. However, choosing right type of Credit Card according to one’s usage and spending pattern is very important. As we all know, there are various types Credit Cards like Rewards, Cash Back, Airlines, Shopping, Travel etc, but choosing right one from various categories that suits your usage and spending pattern will only help you benefit maximum through its rewards program.
For Example: If you are a frequent traveler, Airlines Credit Card will be more beneficial for you as it gives good points that you can convert into miles. You can redeem these points to purchase Air tickets.
There is lot of confusion between Airlines / Travel Credit Cards and Credit Cards with lowest FCY Markup fees. Foriegn Currency i.e FCY markup fees are charges that bank charge on International transactions which are not carried out in INR. Most of the Airlines or Travel Credit Cards do not offer lowest FCY markup charges. In fact credit cards which do not come under airlines and travel category offer lowest FCY charges. These cards are offered to High profile customers of Banks in India.
Who should apply for Credit Cards with Lowest FCY charges ?
All those who travel Internationally, Shop at foreign places, purchase online product or services from foreign websites, bloggers etc are ones who should opt for these types of Credit Cards. Generally, Banks charge 3.5% FCY markup fess and S.T on it. Hence, you end up paying more for the product or service you purchased. There are few Credit Cards which charge very less or negligible fees on foreign transactions and hence you can save more on these transactions as compared with other types of Credit Cards.
Here are some Indian Credit Cards with lowest FCY markup fees:
#1 Yes First Exclusive Card
This is an Exclusive Credit Card offered by Yes Bank to its preferred customers.Card holders are offered lowest in the Industry FCY Markup fees i.e 1.75%+S.T.
Eligibility for YES FIRST Exclusive Credit Card
1: Age Criteria: Minimum 21 years to maximum 60 years
2: Salaried or Self Employed
3: Minimum Gross Salary (Annual) or Annual Income of Rs 50 Lakhs.
Note: You may also apply if you hold HDFC Infinia card on card-to-card basis. However, your card should be at least a year old.
#2 Yes First Preferred Card:
This is also an Exclusive Credit Card offered by Yes Bank to its preferred customers.Card holders are offered lowest in the Industry FCY Markup fees i.e 1.75%+S.T.
Eligibility for YES FIRST Preferred Credit Card
1: Age Criteria: Minimum 21 years to maximum 60 years
2: Salaried or Self Employed
3: Minimum Gross Salary (Annual) or Annual Income of INR 18 Lakhs.
Note: You may also apply if you hold HDFC Regalia card on card-to-card basis. However, your card should be at least a year old.
#3 HDFC Regalia Card:
This is one of the best Credit Card offered by HDFC Bank to its preferred customers.Card holders are offered lowest FCY Markup fees i.e 2%+S.T.
