By Manan Singh
Updated On February 16, 2024

Have you planned your dream vacation, or are you traveling abroad for a business meeting? If yes, then banks charge a forex markup fee whenever you swipe your credit card abroad to make payments in foreign currencies. To process a foreign transaction, banks charge a percentage of the transaction amount, usually 3% to 3.5%.

All card issuers mention the forex markup charges and other fees associated with a credit card in a separate statement, and you must go through these guidelines carefully before getting a credit card. A credit card is a convenient method of making international payments, but if you are someone who regularly travels abroad or spend money online in foreign currencies, you must choose a credit card that charges a low forex markup fee.

Axis Bank Credit Cards With Lowest Forex Markup Charges

Axis Bank is among the top credit card issuers in our country and has different credit cards for international travel with different forex markup charges. Some premium cards have a lower fee, while other cards charge a higher fee on foreign transactions. In this article, we will read about the forex markup fees of some of the most popular Axis Bank credit cards.

Table of Contents

Low Forex Markup Charges of Top Axis Bank Credit Cards

Axis Bank Magnus Credit Card

(4.6/5)

Fees

Joining Fee

Rs. 12,500 + GST

Renewal Fee

Rs. 12,500 + GST

Best Suited For

Movies

Reward Type

Reward Points

Welcome Benefits

Choose a gift voucher worth Rs. 12,500 from any one of Luxe, Yatra, or Postcard Hotels

axis bank reserve credit card

(4.4/5)

Fees

Joining Fee

Rs. 50,000 + GST

Renewal Fee

Rs. 50,000 + GST

Best Suited For

Movies

Reward Type

Reward Points

Welcome Benefits

50,000 Edge Reward Points on card activation and every year the card membership is renewed

Axis Bank MY ZONE Credit Card

(4.6/5)

Fees

Joining Fee

Nil

Renewal Fee

Nil

Best Suited For

Movies

Reward Type

Reward Points

Welcome Benefits

Free SonyLiv annual subscription worth Rs. 999.

Axis Bank Rewards Credit Card

(4.5/5)

Fees

Joining Fee

Rs. 1,000 + GST

Renewal Fee

Rs. 1,000 + GST

Best Suited For

Dining

Reward Type

Reward Points

Welcome Benefits

5000 EDGE reward points on spending Rs. 1000 and above within 30 days of card activation

Flipkart Axis Bank Credit Card

(5/5)

Fees

Joining Fee

Rs. 500 + GST

Renewal Fee

Rs. 500 + GST

Best Suited For

Shopping

Reward Type

Cashback

Welcome Benefits

Introductory Benefits Worth Rs. 600 on Card Issuance

Axis Bank Burgundy Private Credit Card

(4.3/5)

Fees

Joining Fee

Rs. 50,000 + GST (Nil for Burgundy Private Account Holders)

Renewal Fee

Rs. 50,000 + GST (Nil for Burgundy Private Account Holders)

Best Suited For

Movies

Reward Type

Reward Points

Welcome Benefits

30,000 EDGE Reward Points

How Does Forex Markup Fee Work

Credit cards usually charge around 3-3.5% as foreign currency charges. While 3% seems reasonable, over time, these transactions can add up and cost you more. For instance, if you make a foreign transaction of Rs. 1 Lakh and the forex markup fee is 3%, you would have to pay an extra Rs. 3000 for the transaction. If you frequently travel abroad or make online payments in foreign currencies, you may end up paying a considerable sum in forex markup fees.

Other than this, the payment processor also charges a dynamic currency conversion fee, usually 1%, on the foreign transaction made through your credit card. Therefore, it is important to look for a credit card with no or low forex markup charges if you don’t want to spend heavily on foreign spends.

How to Apply for Axis Bank Credit Cards

Follow these steps to apply for Axis Bank credit cards :

  • Click on Apply Now
  • Provide all the necessary details, information, and documents needed for the application
  • Go through all terms and conditions thoroughly and accept them.
  • Next, click on Submit, and your application will be submitted to Axis Bank.

Forex Charge Comparison for Axis Bank Credit Cards

In the following table, we will compare some of the most popular credit cards by Axis Bank that have a low forex markup fee:

Category Axis Bank Burgundy Private Credit Card Axis Bank Reserve Credit Card Axis Bank Magnus Credit Card All Other Axis Bank Credit Cards
Forex Markup Fees Nil 1.5% 2% 3.5%

Bottom Line

Every time you swipe your credit card for a foreign transaction, you have to pay an extra forex markup fee. If you are someone who regularly travels abroad or makes online spends in foreign currency, you may spend a lot of money annually as forex markup charges. It is recommended to go for a credit card that charges a low forex markup fee if you regularly make foreign currency spends.

Axis Bank is among the most popular credit card issuers in India and has a range of credit cards for all types of individuals. When it comes to forex markup charges, the Axis Bank Magnus credit card charges 2%, the Reserve credit card charges 1.5%, and the Burgundy Private card does not charge a forex markup fee. All other Axis Bank credit cards charge a 3.5% fee on foreign transactions.

If you plan on making spends in foreign currency with your credit card, make sure you get a credit card with a low forex markup fee.

FAQs:

The Axis Bank Burgundy Private credit card does not charge any forex markup fee for international transactions made with the card. The card comes at a high joining fee of Rs. 50,000 but it is packed with privileges and is ideal for individuals who regularly make spends in foreign currencies.
The Axis Bank Reserve credit card charges a forex markup fee of 1.5% which is lower than other cards by Axis Bank. The card has a high Rs. 50,000 joining fee but it offers 2x reward points on international spends a low forex markup fee.
The forex markup fee on the Axis Bank Magnus credit card is 2% and it does not charge a cash withdrawal fee also. Being a super-premium offering, the Magnus has a Rs. 10,000 joining fee but the rewards and benefits offered by it make it worth the high price.
Most of the Axis Bank credit cards have a 3.5% forex markup fee other than the super-premium Reserve and Magnus credit card. Popular variants like the Axis Bank ACE, Flipkart Axis Bank, Axis Bank My Zone, Airtel Axis Bank credit card, etc. all have a 3.5% forex markup charges.
Follow these steps to apply for Axis Bank credit cards:
  • Visit the official Axis Bank website
  • Click on the drop-down menu and then click on Explore Products > Cards > Credit Cards > Explore All
  • Out of the complete list, choose the card you want for yourself and then click on Apply Now
  • Provide all the necessary details, information, and documents needed for the application
  • Go through all terms and conditions thoroughly and accept them.
  • Next, click on Submit and your application will be submitted to Axis Bank.