Credit cards in India, the UAE and the US compared (2026)

Your money moves between India, the UAE and the US. You might be a founder with clients in one country and family in another, a salaried expat who flies home several times a year, or someone who found a 3.5% line on a card statement after a trip. My own work and family life cross the same three countries.

It is not a ranking. Each card below solves a different problem, and the right answer depends on where you are resident, where you spend, and which fees you can avoid. Every fee and percentage here comes from the issuer’s own page or fee schedule, listed in the sources. Where a figure could not be confirmed, the guide says so instead of guessing.

What matters when your life spans three countries

Most card reviews are written for someone who lives and spends in one country. When you split your life across several, a different set of terms decides what a card costs you.

Forex markup and network fees

The forex markup is the percentage a bank adds when you spend in a currency other than your card’s billing currency. It is often the single largest cost for a cross-border spender, and it hides in plain sight because it is charged per transaction.

How it is quoted differs by country:

• India: banks quote a single percentage and add GST on top. HDFC’s terms say GST applies to all fees and charges.
• UAE: many banks quote their own margin and then add the card network’s processing fee separately. Emirates NBD’s price guide puts the network fee at approximately 1.15%; HSBC UAE says the Visa or Mastercard fee can be up to 1.21% including VAT. A card advertised at 1.99% can therefore cost about 3.1%.
• US: most travel cards from the big issuers charge no foreign transaction fee at all, including the no-annual-fee options listed below.

Dynamic currency conversion, even when you pay in your own currency

Abroad, a card terminal may offer to charge you in your home currency. That is dynamic currency conversion (DCC). The merchant sets the exchange rate, and banks have started charging their own fee on top. HDFC’s terms say that from 15 May 2026 a 1.75% markup applies to transactions in rupees made at an international location. Axis Bank lists a 3.5% fee on the Atlas card for the same thing, revised from 21 August 2026. Mashreq charges 2.89% on dirham transactions outside the UAE, and HSBC UAE charges 1.05%.

The practical rule: always choose the local currency. The companion guide on international payments and forex fees works through the numbers.

Lounge access, transfer partners and annual fees

• Lounges: “unlimited” often has conditions. Scapia gives domestic lounge access only after a monthly spend; HSBC’s Skywards Infinite needs one international purchase a year to keep lounge access active.
• Transfer partners: points that convert to airline and hotel programmes are worth more to frequent flyers than fixed cashback, but transfers can carry fees (Axis charges ₹199 per transfer on Atlas).
• Fees and waivers: Indian premium cards often waive the renewal fee if you hit a yearly spend; HDFC does for Infinia and Diners Black. Elsewhere, assume you pay the fee every year unless the issuer’s page says otherwise, so the fee has to pay for itself through credits and rewards you will really use.

Residency and eligibility

Most cards are built for residents. Axis lists “Resident of India” as an eligibility condition for Atlas, HSBC UAE asks Skywards Infinite applicants to live in the UAE, and US issuers assess you on a US credit file. Because eligibility is tied to residence and local income, plan the order of your applications around your moves.

India: the shortlist

Card	Annual fee	Forex markup	Headline benefit	Who it suits
HDFC Infinia Metal	₹12,500 + taxes; renewal waived on ₹10 lakh spend in the prior 12 months	2%	Unlimited domestic and international lounge access for primary and add-on cards; 5 reward points per ₹150	High spenders HDFC invites (by invitation only)
HDFC Diners Club Black Metal	₹10,000 + taxes; renewal waived on ₹8 lakh spend in 12 months	2%	Unlimited access to 1,300+ lounges in India and abroad for primary and add-on cards	High earners who can check Diners acceptance where they travel
Axis Bank Atlas	₹5,000 + GST joining and annual	3.5%	2 EDGE Miles per ₹100, 5 per ₹100 on travel; miles transfer to partner programmes	Travel spenders billed in rupees who transfer miles; not for spending abroad
IDFC FIRST Mayura	₹5,999 + GST joining and annual	0%	Metal card with zero forex markup	Regular foreign spend with Indian billing
IDFC FIRST Ashva	₹2,999 + GST joining and annual	0%	Zero forex markup at a lower fee	Moderate foreign spend
Scapia (co-branded with partner banks including Federal Bank)	No joining or annual fee	0% on all spends abroad (Visa variant)	Unlimited domestic lounge access after ₹20,000 combined monthly spend	Travellers who want a no-fee card for trips
Niyo Global SBM (secured)	₹500 joining fee, shown as waived	No markup; Visa rate applies	Backed by a fixed deposit, minimum ₹5,000	Thin credit files and backup use abroad

Notes on the Indian cards

HDFC Infinia and Diners Club Black. These are the classic Indian premium cards. The appeal is lounge access for primary and add-on cardholders and strong rewards through HDFC’s SmartBuy portal, where HDFC lists up to 10X points on hotels on the Diners Black calculator. Reward points can convert to airline miles at up to one mile per point, per HDFC’s Diners Black page. The 2% markup plus GST makes them an expensive way to pay abroad. Eligibility for Diners Black is set at a net monthly income above ₹2.5 lakh for salaried applicants or above ₹30 lakh a year for the self-employed, and applicants must be Indian nationals.

Axis Atlas. Strong for flights and hotels booked through Axis’s travel portal or directly with airlines and hotels, and for transferring miles, but the 3.5% foreign currency fee makes it one of the most expensive cards here to use abroad. Income criteria are a net annual income of ₹12 lakh for salaried applicants or ₹15 lakh for the self-employed.

IDFC FIRST. IDFC FIRST now says all of its credit cards are zero forex markup cards, from its entry cards to Mayura and Ashva. Its card menu still lists Ashva with a 1% forex label in one place, while the Ashva page itself says 0%; check the Key Fact Statement before relying on it. Check the reward rate on international spends too, because it can differ from the domestic rate.

Scapia. No annual fee and no forex markup on the Visa variant make it a cheap travel companion. Lounge access is domestic only and depends on monthly spend.

Niyo Global SBM. A secured card: the limit is backed by a fixed deposit with SBM Bank India. SBM’s terms say neither Niyo nor SBM applies a markup and that Visa exchange rates apply. Useful as a low-cost spending card abroad and for people rebuilding a credit file.

UAE: the shortlist

Card	Annual fee	Forex cost	Headline benefit	Who it suits
Emirates NBD Skywards Infinite	AED 3,148.95 joining; AED 1,575 from year two	1.99% plus network fee of about 1.15%	Up to 2 Skywards Miles per USD equivalent; Skywards Silver status; lounge access via the Visa Airport Companion app	Emirates and flydubai flyers earning AED 30,000+ a month
HSBC Emirates Skywards Infinite	AED 2,625 including VAT	2.1% including VAT, plus up to 1.21% scheme fee	1.5 Skywards Miles on non-AED spend; unlimited lounge access for you and a guest	AED 30,000+ a month; no HSBC account needed
Mashreq Cashback	Free for life	2.89% plus Visa or Mastercard charges	5% cashback on local and international dining; 1% on other international spends	Entry level, from AED 5,000 a month
ADCB TouchPoints Infinite	AED 1,050 (AED 525 for Excellency customers)	2.99% plus network fee of about 1.15%	TouchPoints rewards; check the current earn rate	Existing ADCB customers
ADCB Traveller World Elite	AED 1,575 (AED 787.5 for Privilege and Excellency)	0% bank margin	Travel-focused card with no ADCB currency margin	ADCB customers who spend abroad often
FAB Travel Card	AED 1,500	No international transaction fees, per FAB	12% back in FAB Rewards on flights and hotels (capped monthly, minimum spend applies); yearly free flights option; lounge access	AED 20,000+ a month

Notes on the UAE cards

The network fee is the detail to watch. Emirates NBD and ADCB both state that their foreign currency margin is charged in addition to the Visa or Mastercard processing fee of approximately 1.15%. HSBC UAE says a scheme fee of up to 1.21% may apply. ADCB’s schedule shows a 0% margin for its Traveller card but does not say whether the network fee is also waived, so ask before you rely on it. FAB goes further for its Travel Card and says there are no hidden scheme or bank charges on foreign currency spends.

Skywards cards. Both the Emirates NBD and HSBC versions suit people who fly Emirates often. Emirates NBD’s list of requirements includes a security cheque. HSBC’s lounge access depends on at least one international purchase of USD 1 or more each calendar year.

Mashreq Cashback. The lowest-cost entry point here, with no annual fee. The 2.89% spread on foreign currency and on dirham transactions outside the UAE means it works best at home.

US: the shortlist

Card	Annual fee	Foreign transaction fee	Headline benefit	Who it suits
Chase Sapphire Preferred	$95	None	5x points on Chase Travel, 3x on dining; transfers to partners such as Air Canada Aeroplan, British Airways and Flying Blue	A first transferable-points card
American Express Gold	$325	None	4X points at restaurants worldwide (up to $50,000 a year) and at US supermarkets (up to $25,000); transfers to 20 airline and hotel partners	Heavy dining and grocery spenders
The Platinum Card from American Express	$895	None	Global Lounge Collection including Centurion Lounges; hotel and other statement credits	Frequent flyers who will use the credits
Capital One Venture X	$395	None	2X miles on all other purchases; Capital One Lounges and 1,300+ Priority Pass lounges; transfers to 15+ programmes	One simple premium travel card
Capital One Quicksilver or VentureOne	$0	None	Quicksilver earns 1.5% cash back	A no-fee card to carry abroad
Capital One Platinum Secured	$0	None	Refundable deposit of $49, $99 or $200; no credit score required to apply	Newcomers with no US history

Notes on the US cards

The US is the easiest of the three for foreign spending: none of the cards above charges a foreign transaction fee. The decision is about annual fee versus what you will really use. The Platinum Card’s $895 fee only makes sense if its credits replace spending you would do anyway. A no-fee card from the same issuer is a sensible backup, because a single card abroad is a single point of failure. Amex is accepted at fewer merchants than Visa or Mastercard in some places, so carry one of each network.

The forex cost in one view

Fees on foreign currency spend, from the issuers’ current schedules:

Card	Bank fee	Extra network or tax charge
US cards above, IDFC FIRST cards, Scapia (Visa)	0%	None stated
FAB Travel Card	0%	FAB says no scheme or bank charges
Niyo Global SBM	0%	Visa rate applies
ADCB Traveller	0%	Network fee not addressed; check
Emirates NBD	1.99% (including VAT)	About 1.15% network fee
HDFC Infinia and Diners Black	2%	GST
HSBC UAE	2.1% (including VAT)	Up to 1.21% scheme fee
Mashreq	2.89%	Visa or Mastercard charges as applicable
ADCB (other cards)	2.99%	About 1.15% network fee
Axis Atlas	3.5%	GST

Building credit history when you move country

Your credit record lives with a national bureau: CIBIL and the other credit information companies in India, the Al Etihad Credit Bureau (AECB) in the UAE, and Experian, Equifax and TransUnion in the US. Your file does not follow you from one bureau to another. A decade of clean payments in Mumbai usually counts for little at a bank in Dubai or New York. Plan for that before you move.

Before you leave

• Keep one card at home, if your bank allows it. A long-running account helps if you return. Ask your bank whether you can keep a resident card after your status changes, because eligibility often requires residence.
• Pay everything off and download statements. Proof of a clean history can help in conversations with a new bank, even if it cannot be scored.
• If you hold an Amex card and the US is next, ask about Global Card Relationship. American Express says it lets existing card members apply for a new Amex card in select countries using their account history, and keep their original Member Since date. Check that both your current and destination countries are covered.

Arriving in the UAE

When you arrive, AECB has no history for you, so UAE banks rely on your salary, your employer and your documents. Several cards above set a monthly salary floor, from AED 5,000 for Mashreq Cashback to AED 30,000 for the Skywards Infinite cards. HSBC says you do not need an HSBC account to apply for its Skywards Infinite card. Expect to provide your Emirates ID, a salary certificate and bank statements, and sometimes a security cheque. AECB’s FAQs say banks and finance companies check your report and score before approving new credit, so pay every bill on time from day one.

Arriving in the US

Start a US file early, even before you need credit. Options:

• A secured card. Capital One’s Platinum Secured has no annual fee, asks for a refundable deposit of $49, $99 or $200, and requires no credit score to apply.
• Foreign credit data. Nova Credit says its Credit Passport connects to international bureaus in more than 20 countries and lets some US lenders read a translated report. Whether your country and your chosen lender are covered varies, so check before applying.
• The Amex route. If you already hold an Amex card in a covered country, the Global Card Relationship above can be a quicker path to a first unsecured US card.

US applications ask for identification such as a Social Security number. If you do not have one yet, check what the issuer accepts before you apply, because an application usually adds a hard enquiry to your new file whether or not it is approved.

Returning to India

Indian cards are built for residents. Axis’s Atlas page lists residence in India as a condition, and HDFC’s Diners Black page lists Indian nationality and income floors. If your old card has lapsed, a fixed-deposit-backed card such as Niyo Global SBM can add fresh repayment history to your Indian credit file while you re-establish income in India.

A simple order of decisions

1. Start where you are resident now. That is the country where you can qualify.
2. Size your foreign spending. If it runs to more than a few lakh rupees or a few thousand dollars a year, a zero-markup card usually saves more than most reward rates earn.
3. Match the card to your airline habits. If you fly one airline often, a co-branded card (Skywards in the UAE) or a transferable-points card (Chase, Amex, Capital One, Axis) can justify its fee.
4. Be honest about lounges and credits. If you will not use them, take the cheaper card.
5. Plan for the next country. Start building history there before you move.

Card rules for cross-border spending

• Always pay in the local currency abroad, even on a zero-markup card.
• Check the network fee on UAE cards as well as the headline margin.
• Add GST to Indian forex markups when comparing costs.
• Carry two cards on different networks when you travel.
• Pick a zero-markup card for foreign spending and a rewards card for home spending, if one card cannot do both.
• Start a credit file in each new country early, with a secured or starter card if needed.
• Recheck fees every year: several figures in this guide changed during 2026.