Planning to study abroad, travel internationally, or shop from global websites? If you’re a student, using the right credit card can save you thousands in hidden charges. Most banks in India charge a 2%–3.5% foreign transaction fee every time you swipe internationally—but some student-friendly cards now offer 0% forex markup. Here’s your ultimate guide to the best credit card for students in India with low or zero foreign transaction fees in 2025.
Why Students Need a Zero Forex Markup Credit Card
Save 2–5% on Every Transaction: Pay the actual currency exchange rate without extra bank fees.
App-First Experience: Many options (like Niyo and Scapia) are built for digital natives.
No Income Proof Needed: Many cards can be issued against a simple fixed deposit.
Extra Perks: Some cards even offer airport lounge access and travel insurance.
Top Credit Cards with Zero Forex Markup for Students (July 2025)
| Card | Forex Fee | Annual Fee | Eligibility | Why It’s Great for Students |
|---|---|---|---|---|
| IDFC FIRST WOW! | 0% | ₹0 | FD-based (₹20,000) | No income proof, 4x travel rewards, lifetime free |
| Federal Scapia Credit Card | 0% | ₹0 (Lifetime Free) | Basic KYC | App-managed, free lounge access, gamified rewards |
| Niyo Global Card | 0% | ₹0–₹249 | KYC + account | Great for travel, app control, accepted globally |
Low Forex Fee Cards for Students (When Zero Isn’t Available)
| Card | Forex Fee | Annual Fee | Best For |
|---|---|---|---|
| SBI Student Plus Advantage | 3.5% | ₹500 (waived) | Students with SBI Edu Loan or FD |
| Kotak 811 #DreamDifferent | 3.5% | ₹0 | Beginners, low FD from ₹5,000 |
| Paisabazaar Step UP Card | 3.5% | ₹0 | Easy digital onboarding, FD ~₹2,000 |
What Makes These Cards Student-Friendly?
Secured by FD: You don’t need a job or salary slip. Just open a fixed deposit and you’re eligible.
Full Digital Onboarding: Apply and manage your card online. No need to visit branches.
Travel-Friendly Perks: Lounge access, insurance, and global acceptance make them perfect for students flying abroad.
Build Credit Early: Start your credit history as a student for better financial products later.
How to Choose the Best Forex-Free Credit Card as a Student
| Question | What to Look For |
|---|---|
| No income yet? | Go for secured cards like IDFC WOW! or Kotak 811 |
| Don’t want annual fees? | Choose Scapia or WOW!—both are lifetime free |
| Want lounge access? | Pick Scapia or Niyo Global |
| Need fast approval? | Use online-first options like Niyo, Step UP, or Scapia |
| Planning to study abroad? | Prefer cards with global acceptance & zero forex fees |
Documents You’ll Likely Need
- PAN card
- Aadhaar card (linked with mobile)
- Passport-size photo
- Small fixed deposit (if secured card)
- No income proof required for FD-based cards
Final Recommendations
| Goal | Recommended Card | Link to Apply |
|---|---|---|
| Save on foreign transactions | IDFC FIRST WOW!, Federal Scapia, Niyo | IDFC FIRST WOW!, Federal Scapia, Niyo |
| Digital-first, zero paperwork | Niyo Global, Paisabazaar Step UP | Niyo Global |
| Build credit as a student | Kotak 811, SBI Student Plus Advantage | Kotak 811, SBI Student Plus Advantage |
| Lounge access + zero forex combo | Federal Scapia, Niyo Global | Federal Scapia, Niyo Global |
How to Apply via PickMyWork
- Sign up on PickMyWork
- Choose the right credit card in the credit card section on the app
- Apply or refer others
- Earn commission on each approved application
Apply now or start referring on PickMyWork App – Download Link – Android, iPhone
As a student, you don’t need to settle for high forex charges or limited card options anymore. With secured credit cards and fintech-driven products like Scapia, IDFC FIRST WOW!, and Niyo Global, you can travel, shop, and study abroad with confidence—without paying extra fees. Plus, you’ll start building your credit profile early, setting yourself up for smarter financial choices in the future.
Start with the one that matches your lifestyle and budget, and always use your card responsibly!
Frequently Asked Questions (FAQs)
1. What is a forex markup fee on credit cards?
A forex markup fee is the extra charge your bank adds (usually 2%–3.5%) when you make a payment in a foreign currency. This is on top of the exchange rate set by Visa/Mastercard. Cards with 0% forex markup help you avoid this charge.
2. Which is the best zero forex markup credit card for Indian students?
As of 2025, top options include the IDFC FIRST WOW! Credit Card, Federal Bank Scapia Credit Card, and Niyo Global Card—all offer 0% markup and are beginner-friendly.
3. Can I get a credit card as a student with no income?
Yes! Several banks offer secured credit cards against a fixed deposit (FD). Cards like IDFC WOW!, Kotak 811 don’t need income proof and are great for students.
4. Do student credit cards work internationally?
Yes, most student credit cards from major Indian banks are globally accepted on Visa or Mastercard networks. Just ensure international transactions are enabled in the card settings or app.
5. Is there any benefit of lounge access for students?
Definitely! If you’re flying abroad for studies, domestic lounge access (offered by cards like Scapia and Niyo) can give you free meals, Wi-Fi, and a comfortable waiting area at airports.
6. How much money should I keep in FD for a secured student card?
It varies by bank, but most secured cards require an FD of ₹2,000 to ₹20,000. The credit limit is usually 80–90% of the FD amount.
7. Can I convert a secured student card to a regular credit card later?
Yes, if you maintain a good repayment record for 6–12 months, many banks offer an upgrade to an unsecured credit card and return your FD.
8. Do forex markup-free cards have hidden charges?
Zero markup cards still may charge for ATM withdrawals, late payments, SMS alerts, or replacement cards. Always read the fee structure before applying.
