Are you wondering which credit card is best for your international transactions during your upcoming summer vacation? Are you trying to minimize the impact of foreign currency markup for international transactions? Are you looking to maximize the reward rate on your credit card during your upcoming travel? If your answer to any of these questions is yes, then you have landed on the right webpage. Read on to find some really good offers on international and travel spends.
- American Express Cards
- HDFC Bank Credit Cards
- HDFC Bank Debit Cards
- Yes Bank Credit Cards
- RBL Bank Credit Cards
- Kotak Credit Cards
- IndusInd Bank Credit Cards
- Bottomline
American Express Cards
Amex is providing Paytm movie vouchers of Rs. 2,000 on spending Rs. 20,000 or more overseas.
- Offer: Paytm Movie Vouchers worth Rs. 2,000
- Period: 20 May 2019 to 31 July 2019
- Maximum Voucher: Rs. 2,000
- Minimum Spend: Rs. 20,000
- Type: Targeted, applicable only if you received email from Amex, register here
- Fulfillment: Vouchers will be sent to eligible Cardmembers on their registered email addresses by September 30, 2019
- Source: Website
This offer translates to 10% reward rate which is quite good. Note that Amex charges 3.5% (plus 18% GST) as foreign currency markup charges which reduces the overall rate of return.
PS: If you don’t have Amex, you can apply via my referral link below. Signing up using this link will give you card free for first year and 2000 extra referral bonus reward points in addition to 2000 bonus reward points which is not available otherwise.
HDFC Bank Credit Cards
HDFC is running multiple offers on their credit and debit cards for international spends.
Spend based offer
HDFC is offering 2,500 bonus reward points on spends greater than Rs. 15,000 on in-store international transactions.
- Offer: 2,500 bonus reward points on in-store international transactions
- Period: 1 May 2019 to 30 June 2019
- Maximum Reward Points: 2,500
- Minimum Spend: Rs. 15,000 on in-store international transactions
- Type: Applicable on all HDFC Personal credit Credit Cards which issue reward points
- Fulfillment: Bonus reward points will be posted by September 2019
- Source: Website
I am summarizing the reward rate for this offer on most popular HDFC credit cards below:
| Credit Card Variant | Reward Rate |
|---|---|
| HDFC Bank Diners Rewardz | Points worth Rs. 750, ~5% |
| HDFC Bank Diners Premium / Club Miles / Regalia | Points worth Rs. 1,250, ~8.33% |
| HDFC Bank Diners Black / Infinia | Points worth Rs. 2,500, ~16.67% |
This is a fantastic offer, only caveat is this offer is valid on in-store transactions only.
Forex Card load offer
HDFC is offering 10X reward points on loading HDFC Forex card using HDFC credit cards. It’s also offering Rs. 1,000 cash-back on loading HDFC Forex card using HDFC debit cards.
- Offer: 10X reward points on loading HDFC Forex card using HDFC credit cards, Rs. 1,000 cash-back on loading HDFC Forex card using HDFC debit cards
- Period: Till 30 June 2019
- Maximum Reward Points: 5,000
- Maximum Cash-back: Rs. 1,000
- Minimum Load: No minimum criteria for credit card bonus points, minimum load of Rs. 1 Lakh for debit card cash-back
- Type: Applicable only if forex card is loaded through SmartForex Portal or Prepaid Card NetBanking
- Fulfillment: Bonus reward points and cashback will be posted to credit card within 90 days after the offer end date, cash-back on debit card needs to be redeemed via Net Banking (Cards → Debit Cards → Enquire → CashBack Enquiry and Redemption → Account Number → Continue → Input the CashBack amount) or Phone Banking
- Source: Website
I am summarizing the reward rate for this offer on most popular HDFC credit cards below:
| Credit Card Variant | Reward Rate |
|---|---|
| HDFC Bank Diners Rewardz | Rs. 9 per Rs. 150 spent, ~6% |
| HDFC Bank Diners Premium / Club Miles / Regalia | Rs. 18 per Rs. 150 spent, ~13% |
| HDFC Bank Diners Black / Infinia | Rs. 50 per Rs. 150 spent, ~33% |
For debit card, this offer translates in to meager 1%.
HDFC Bank Debit Cards
HDFC Bank is providing Rs. 1000 cash-back on cumulative international spends of Rs. 25000.
- Offer: Rs. 1000 cash-back on cumulative international spends of Rs. 25000
- Period: Till 31 May 2019
- Type: Targeted, applicable only if you received communication over email or SMS
- Fulfillment: Cash-back is earned in form of Cash-back points where 1 Point = 1 Rupee, cash-back point should be posted within 90 days after the offer end date, cash-back point needs to be redeemed via Net Banking (Cards → Debit Cards → Enquire → CashBack Enquiry and Redemption → Account Number → Continue → Input the CashBack amount) or Phone Banking
- Source: Website
Given that you need to pay 3.5% (plus 18% GST) as foreign currency markup fee, this offer will just cover the markup fees. Hence, if you don’t have other cards with low foreign currency markup fee, use this to compensate the same. Also the cash-back redemption process is little tedious and HDFC Bank should have credited the cash-back amount directly to card instead of customers redeeming it via Net Banking. This is a classic example of how you shouldn’t do cash-back offers on card. HDFC Bank, are you listening?
Yes Bank Credit Cards
Yes Bank is providing 10% cash-back on all international dining spends using their credit cards.
- Offer: 10% cash-back on international dining spends
- Period: 4 May 2019 to 31 May 2019
- Maximum cash-back: Rs. 1000
- Type: Applicable on all Yes Bank Credit Cards
- Fulfillment: Cash-back for eligible transactions would be posted by 30 June 2019
- Source: Website
Though a maximum cap of Rs. 1000 is little disappointing, I feel expenditure of Rs. 10,000 on dining would suffice most budget travelers. Also note that Yes Bank Exclusive credit card has lower foreign currency markup of 1.75% (plus 18% GST) compared with other credit cards in market which charge around 3.5%. Also, if you hold Yes First Exclusive Card, you will get 3% reward points on dining category. Hence the net rate of return boils down to 11% (10% cash-back - 2% foreign currency markup + 3% reward points) which is quite awesome.
RBL Bank Credit Cards
RBL Bank is waiving off entire transaction charges on international purchases.
- Offer: 100% Waiver on transaction Charges for all international purchases
- Period: 4 May 2019 to 31 July 2019
- Maximum waiver: No limit
- Type: Applicable on all RBL Bank Credit Cards
- Fulfillment: Waiver of charges will be automatically adjusted during monthly statement generation
- Source: Website
Given that credit cards normally charge foreign currency markup of 3.5% (plus 18% GST), this offer saves you 4.13% and no upper limit is cherry on top. Also you continue to earn normal reward points on your card.
Kotak Credit Cards
Kotak Mahindra bank is providing 5% cash-back on all international spends.
- Offer: 5% cash-back for all international purchases
- Period: 3 May 2019 to 15 July 2019
- Maximum Cash-back: Rs. 5,000
- Minimum Spend: Rs. 50,000 or more in a single bill
- Type: Applicable on all Kotak Credit Cards, to participate register through SMS by sending “KABROAD” to 5676788
- Fulfillment: Cash-back would be credited to cardholders’ account within 90 days post the Offer Period end date
- Source: Website
Well minimum spend of Rs. 50,000 or more in a single bill is a bummer. Also you need to shell out the foreign currency markup fee of up to 3.5% (plus 18% GST) which makes this offer even less enticing.
IndusInd Bank Credit Cards
IndusInd Bank is providing Flipkart vouchers worth Rs. 1000 when you spend Rs. 50,000 or more on travel category (Airlines, Railways & Hotel).
- Offer: Rs. 1000 Flipkart vouchers on spend of Rs. 50,000 or more on travel category (Airlines, Railways & Hotel)
- Period: 1 May 2019 to 31 May 2019
- Type: Targeted, applicable only if you received communication over email or SMS
- Fulfillment: Flipkart vouchers will be emailed by 31 July 2019 to eligible card members
- Source: Website
Note that is not a international spend offer and hence you can use this for domestic travel spends too. The T&C says “Summer Fiesta-Mastercard Travel Offer” and hence I believe it’s applicable only on Mastercard variant of IndusInd Bank credit cards. This offer is over and above your existing reward rate and hence finally it translates to 2.5% (assuming 0.5% of base reward rate) or more depending on card you hold.
Bottomline
Well it’s raining offers on international spends using credit and debit cards. Given that the trend for international vacation is increasing day by day, card companies are trying to tap this opportunity aggressively. I foresee an increase in number of such offers by card companies in future.
Let me know if you received or are aware of other offers on international spends in comments below.
