The Federal Scapia co-branded Credit Card is a zero-fee card issued by Federal Bank with no joining or annual charges, 0% foreign currency markup, and up to 48 days interest-free period.
Key Features
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No joining or annual fee
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0% foreign currency markup
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Interest-Free Period
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1% waiver up to ₹500/month
Pros
✓Zero joining and annual fee
✓0% forex markup on foreign transactions
✓No card cancellation fee
✓1% fuel surcharge waiver on transactions up to ₹5000
Cons
✗High revolving credit interest rate of 45% p.a.
✗Cash advance fee of 2.5% or ₹500 (whichever is higher)
✗Cash withdrawal limit capped at 10% of credit limit
✗No add-on card facility currently
✗Convenience fee of 1%+GST on rent, wallet load, high fuel/utility spends