ZeroAt a Glance: The 3 Core Takeaways
- Universal 0% Forex: Effective September 9, 2026, all IDFC FIRST Bank credit cards (Lifetime Free and premium variants alike) charge 0.0% forex markup on international POS and online transactions.
- The October 26 Rewards Catch: Effective October 26, 2026, international spends on mainstream cards (Millennia, Classic, Select, Wealth, SWYP) will stop earning reward points.
- The Excluded Tier: Only specialized cards (FIRST Private, Mayura, Ashva, FIRST WOW, and IndiGo co-brands) will continue earning rewards abroad post-October 26.
The Big Shift: Why IDFC Scrapped Forex Markup
Historically, Indian card issuers charged a steep 1.5% to 3.5% + 18% GST forex markup on international card swipes. Only specialized products like the Scapia Credit Card, Niyo Global, and IDFC FIRST WOW offered zero markup.
With this announcement (officially reflected across IDFC FIRST Bank's product channels), IDFC eliminates this fee entirely. Existing cardholders do not need to request an upgrade or activate any switch in the mobile app; the 0% markup is applied automatically at transaction settlement.
Card-by-Card Breakdown: Who Loses Rewards on October 26?
While zero markup saves you 2%–3.5% upfront on overseas purchases, the bank has counterbalanced this perk by bifurcating its reward point policies. The table below outlines how each card variant is affected:
| Card Variant | Annual Fee | Forex Markup | International Rewards Status |
|---|---|---|---|
| FIRST Millennia / Classic | ₹0 (Lifetime Free) | 0% | ❌ Zero Points (Effective Oct 26, 2026) |
| FIRST Select | ₹0 (Lifetime Free) | 0% | ❌ Zero Points (Effective Oct 26, 2026) |
| FIRST Wealth | ₹0 (Lifetime Free) | 0% | ❌ Zero Points (Effective Oct 26, 2026) |
| FIRST SWYP | ₹499 + GST | 0% | ❌ Zero Points (Effective Oct 26, 2026) |
| Club Vistara IDFC FIRST | ₹4,999 + GST | 0% | ❌ Zero Points (Effective Oct 26, 2026) |
| IDFC FIRST WOW / WOW Black | ₹0 (FD-Backed) | 0% | ✅ Retains Rewards (3X points) |
| FIRST Ashva | ₹2,999 + GST | 0% | ✅ Retains Rewards (Adjusted to 2 RP/₹150) |
| FIRST Mayura | ₹5,999 + GST | 0% | ✅ Retains Rewards (10X points) |
| FIRST Private | Invite Only | 0% | ✅ Retains Rewards (Accelerated) |
How Does IDFC Compare to the Scapia Credit Card?
Many travelers are asking: "If my IDFC card now has 0% forex, do I still need a dedicated travel card like Scapia?"
The answer comes down to what you want your card to do beyond foreign currency conversion:
Scapia Credit Card
Dedicated Travel Specialist
- ₹0 Lifetime Free: No joining fee, no annual fee, ever.
- 0% Forex Markup: Complete waiver across all overseas swipes.
- Up to 4% Value Back: Earn 20% Scapia Coins on flights and hotels booked in the Scapia App (1 coin = ₹0.20 redemption value).
- Virtual RuPay UPI: Instant companion virtual RuPay card for merchant UPI payments in India and supported international hubs.
- Domestic Airport Lounge Access: Unlimited entries upon hitting ₹20,000 monthly spend across Visa and RuPay variants.
IDFC FIRST Bank Cards
Everyday Banking Suite
- Annual Fees Vary: Lifetime Free on Millennia/Select/Wealth, but ₹2,999 to ₹5,999 on premium cards that actually earn rewards abroad.
- 0% Forex Markup: Universal across all cards.
- No International Rewards: Effective Oct 26, 2026, free cards earn exactly zero reward points on foreign transactions.
- UPI Compatibility: Issued primarily on Visa or Mastercard networks (credit-on-UPI requires separate RuPay request).
- Lounge Milestone: Requires ₹20,000 domestic spend in the preceding month on free variants.
The Editorial Verdict: Which Card Fits Your Travel Style?
If you already hold an IDFC FIRST Millennia, Select, or Wealth card, this policy update is welcome news—you can now keep it in your wallet as an emergency backup overseas without dreading a 3.5% fee penalty.
However, for active travelers seeking a dedicated, cohesive ecosystem:
- Scapia remains the premier choice because it pairs true 0% forex markup with high travel coin rewards (up to 4% net return on flights and stays), an integrated RuPay UPI card, and seamless in-app travel booking redemptions.
- If you have faced past credit rejections or have a CIBIL score under 750, IDFC FIRST WOW remains an outstanding 100% approval fixed-deposit alternative that continues to earn international reward points post-October 26.
For a deeper head-to-head analysis comparing limits, underwriting, and spend modeling, read our full comparison: Scapia vs IDFC FIRST Bank Credit Cards Comparison.
Frequently Asked Questions
Which IDFC FIRST Bank credit cards now have 0% forex markup?
All of them. Effective September 9, 2026, IDFC FIRST Bank has waived the forex markup across its entire portfolio, including Millennia, Classic, Select, Wealth, SWYP, Club Vistara, Mayura, Ashva, and WOW.
Do IDFC credit cards earn reward points on international spends?
Until October 25, 2026, existing reward structures apply. Starting October 26, 2026, international spends on Millennia, Classic, Select, Wealth, SWYP, and Club Vistara cards will no longer earn reward points. Only FIRST Private, Mayura, Ashva, FIRST WOW, and IndiGo cards retain overseas rewards.
Is Scapia better than IDFC for international travel?
For most travelers, yes. Scapia offers 0% forex markup, zero annual fees for life, high travel reward redemption value (up to 4%), and a companion virtual RuPay card for merchant UPI payments, making it a more complete travel financial product.
How do I check if I am eligible for Scapia?
Scapia requires applicants to be Indian residents aged 21 or older with a clean credit history (typically CIBIL 750+). You can test your profile in 30 seconds using our free pre-qualification tool.