Foriegn Transaction Fee

[ghp_nit]

Hi Card Bhai,
    I am having SBI card for long time. Of late I have started purchasing things from US/UK. But SBI charges 3.5% (plus other taxes) as foreign transaction fee. This increases my costs notably.
    I wanted to know:
   1)    Is there any Credit Card in india which charges 0 amount for things brought from outside india ?  I know there is capital one in US. But could not find similar card in india.
   2)    If there is no such credit card, which one should I get to pay the least amount as FTC ?

thanks!!
-GHP

[cardbhai]

Yes it is a Valid Charge by Credit Card Companies under the Forex Conversion Clause as prescribed by RBI. Their will be Service tax on the same as well. Can't really escape it.

[ghp_nit]

Thanks for the quick reply.

So all the companies charge the same or does this percentage vary among different credit cards ?

Capital One does absorb all these charges on behalf of customers. Very disappointing to know that no one is India does the same