AU Zenith & Vetta Credit Cards Devalued: Forex Markup Jumps to 3.49%, Fuel Waiver Slashed From October 2026

Effective date: October 1, 2026 Updated: October 12, 2026

AU Small Finance Bank has implemented a significant devaluation across two of its travel-oriented credit cards.

From October 1, 2026, the AU Zenith Credit Card and AU Vetta Credit Card now carry a 3.49% foreign-currency markup, substantially reducing their appeal for international spending.

The change is especially severe for Zenith.

Its forex markup has increased from 1.99% to 3.49%, while Vetta has moved from 2.99% to 3.49%.

At the same time, AU has sharply reduced the maximum fuel-surcharge waiver available on both cards.

Zenith's monthly fuel-waiver ceiling has fallen from ₹1,000 to ₹100 per statement cycle, while Vetta has dropped from ₹250 to ₹100.

AU Altura Plus has also been affected on the fuel side, with its cap falling from ₹150 to ₹100 per statement cycle.

These are not temporary offers ending. They represent changes to the underlying economics of the cards.

For existing Zenith and Vetta cardholders, particularly those who chose the cards for international travel, the new forex rate is the change that matters most.

AU Zenith & Vetta Devaluation: What Changed?

The normal fuel-waiver structure continues to apply to eligible fuel transactions between ₹400 and ₹5,000, but the maximum amount AU will waive in a statement cycle is now dramatically lower for Zenith and Vetta.

Zenith's Forex Increase Is the Bigger Blow

The most important change is the forex markup on AU Zenith.

Before October 2026, Zenith charged:

1.99% forex markup

It now charges:

3.49% forex markup

That is an increase of 1.50 percentage points, or roughly a 75% increase in the markup rate itself.

For a premium credit card carrying a ₹7,999 annual membership fee before taxes, that is a material devaluation.

Low forex markup was one of Zenith's more distinctive travel features.

At 3.49%, Zenith now sits much closer to the standard international-spending charge seen on many conventional Indian credit cards.

How Much More Will Zenith Cardholders Pay Abroad?

The impact becomes clearer with actual spending.

Earlier at 1.99%:

₹50,000 × 1.99% = ₹995

Now at 3.49%:

₹50,000 × 3.49% = ₹1,745

Additional markup: ₹750 before GST

Earlier at 1.99%:

₹1,00,000 × 1.99% = ₹1,990

Now at 3.49%:

₹1,00,000 × 3.49% = ₹3,490

Additional markup: ₹1,500 before GST

Earlier at 1.99%:

₹2,00,000 × 1.99% = ₹3,980

Now at 3.49%:

₹2,00,000 × 3.49% = ₹6,980

Additional markup: ₹3,000 before GST

And this is before considering GST applicable on the forex-markup fee.

At the current 18% GST rate, a 3.49% forex markup produces an effective cost of roughly 4.12% on top of the converted transaction value.

That means approximately ₹1 lakh of international spending can result in around:

₹4,118 of forex markup plus GST combined

compared with roughly:

₹2,348 earlier

under Zenith's old 1.99% rate.

That is an increase of around ₹1,770 per ₹1 lakh of overseas spending.

Vetta Also Loses Its Lower-Forex Advantage

The increase on AU Vetta is smaller but still meaningful.

Vetta previously charged:

2.99%

It now charges:

3.49%

On ₹1 lakh of international spending:

Earlier: ₹2,990 before GST

Now: ₹3,490 before GST

That is an additional ₹500 before GST, or roughly ₹590 including 18% GST on the markup.

Vetta's increase is therefore less severe than Zenith's, but it still removes the card's below-standard forex pricing.

The two cards now charge the same 3.49% rate for international transactions.

Forex Cost Comparison

Amounts above show forex markup before GST.

The numbers make the impact particularly clear for Zenith.

Someone spending ₹2 lakh abroad now pays around ₹3,000 more in forex markup alone than under the previous pricing.

Zenith's Fuel Waiver Has Been Cut by 90%

The second major change is the fuel-surcharge waiver.

AU Zenith previously offered a maximum fuel-surcharge waiver of:

₹1,000 per statement cycle

From October 1, the maximum is:

₹100 per statement cycle

That represents a 90% reduction in the maximum monthly benefit.

The eligible fuel-transaction range remains ₹400 to ₹5,000.

The percentage waiver also remains 1%.

What has changed is how much of that surcharge AU will reimburse during the statement cycle.

For a premium card, reducing the cap from ₹1,000 to ₹100 is substantial.

Vetta and Altura Plus Fuel Benefits Were Cut Too

Vetta has also been devalued.

Its earlier cap was:

₹250 per statement cycle

It is now:

₹100

That is a 60% reduction.

Altura Plus moves from:

₹150 to ₹100

which is a roughly 33% reduction.

AU has therefore moved several cards towards a much more standardised ₹100 monthly fuel-waiver ceiling.

Why This Matters More for Zenith

Zenith is not a low-fee card.

AU currently lists the annual membership fee at:

₹7,999 + applicable taxes

The first-year fee can be waived by meeting the applicable spending condition within the required period, while subsequent annual-fee waivers require higher yearly spending.

That pricing means customers reasonably expect premium differentiation.

Zenith continues to offer benefits such as airport lounge access, milestone rewards, concierge services and travel-related privileges.

But one of the easiest premium benefits to quantify was its relatively low 1.99% forex markup.

Moving that to 3.49% materially weakens the card for overseas spending.

A frequent international traveller could now lose thousands of rupees annually compared with the previous structure.

Vetta's Position Has Also Weakened

AU Vetta currently carries an annual membership fee of:

₹2,999 + applicable taxes

AU lists first-year and renewal fee-waiver conditions based on qualifying retail spending.

The card continues to offer rewards, domestic and international lounge benefits, railway-lounge access and other privileges.

However, its forex rate has now moved from 2.99% to the same 3.49% level as Zenith.

That removes another point of differentiation.

For users primarily interested in domestic rewards and lounges, the impact may be relatively limited.

For users who deliberately selected Vetta for overseas expenditure, the new rate makes the card less attractive.

What Has Not Changed?

The October devaluation does not mean every Zenith or Vetta benefit has disappeared.

AU's current product pages continue to list their existing reward, lounge and card-service benefits.

• 2 complimentary domestic airport lounge visits per quarter, subject to the applicable spending requirement;
• 2 complimentary international lounge visits per quarter through Priority Pass;
• milestone Reward Points;
• accelerated rewards;
• concierge services;
• insurance and protection benefits;
• fuel-surcharge waiver, although now capped at ₹100 per statement cycle.

• 1 complimentary domestic airport lounge visit per quarter, subject to applicable eligibility;
• 4 international Priority Pass lounge visits annually, capped at one per quarter;
• railway lounge access;
• rewards and milestone benefits;
• concierge services;
• fuel-surcharge waiver, now capped at ₹100.

The devaluation should therefore be viewed specifically as a significant deterioration in forex pricing and fuel-waiver value, rather than a complete overhaul of every card benefit.

Domestic Lounge Spend Conditions Still Matter

Both cards already had another travel-related limitation that users should keep in mind.

AU currently requires qualifying spending for domestic airport lounge access.

For Zenith, the bank states that domestic lounge access requires ₹50,000 or more in retail spending in the preceding calendar quarter.

Vetta similarly requires ₹50,000 of qualifying spending for domestic airport lounge eligibility.

International Priority Pass access is structured separately.

This means existing holders should evaluate the cards using the complete travel-benefit structure rather than simply counting headline lounge visits.

What About AU Zenith+?

It is important not to confuse AU Zenith with AU Zenith+.

They are separate products.

The forex devaluation discussed here applies to Zenith and Vetta.

AU continues to advertise a substantially lower:

0.99% forex markup

on the premium Zenith+ Credit Card.

Zenith+ also carries its own fee structure and benefits, so it should not be viewed as a direct no-cost replacement.

But within AU's own portfolio, the gap between Zenith and Zenith+ for international spending has now widened dramatically.

Before the change:

• Zenith: 1.99%
• Zenith+: 0.99%

Now:

• Zenith: 3.49%
• Zenith+: 0.99%

That makes Zenith+ far more differentiated for international spending than it was previously.

ixigo AU Becomes Even More Important for Forex Spending

AU also continues to advertise:

0% forex markup

on the ixigo AU Credit Card.

That creates a striking contrast within the same issuer's portfolio.

For customers primarily focused on overseas transactions, Zenith and Vetta are therefore much harder to justify purely on forex economics after October 1.

Other card benefits may still make them worthwhile for individual users, but the foreign-spend proposition has clearly weakened.

Should Existing Zenith Holders Stop Using It Internationally?

For most users who have access to a genuine zero-forex or low-forex alternative, it now makes sense to reconsider using Zenith for large foreign-currency purchases.

At 3.49% plus GST on the markup, the effective cost is approximately 4.12%.

That can become expensive quickly.

On ₹5 lakh of international spending, for example:

3.49% forex markup = ₹17,450

With GST on that fee, the total forex-related cost would rise above ₹20,000.

A 0% forex card avoids the issuer markup entirely, although the card-network exchange rate still applies.

That does not automatically mean existing Zenith holders should close the card.

Zenith retains lounge, reward, milestone and other premium benefits.

But its role as a low-forex international-spending card has changed materially.

Should Existing Vetta Holders Reconsider the Card?

The answer depends on why the card is being held.

Someone using Vetta mainly for:

• rewards;
• milestones;
• domestic lounge access;
• international lounge access;
• railway lounges;

may still derive enough value from the card.

But someone who primarily valued its lower international transaction charge should revisit the calculation.

At 3.49%, Vetta is no longer meaningfully differentiated from many mainstream cards on forex costs.

Is This a Temporary Change?

No indication suggests that the forex and fuel changes are temporary promotional adjustments.

AU's current Zenith and Vetta product pages now display the revised figures as the applicable card benefits and charges.

Secondary tracking also dates the effective change to:

October 1, 2026

This means CardRecommend comparisons and calculators that continue to use the previous 1.99% Zenith or 2.99% Vetta forex markup will produce outdated results.

The same applies to fuel-surcharge-waiver calculations using Zenith's old ₹1,000 cap, Vetta's ₹250 cap or Altura Plus's ₹150 cap.

What CardRecommend Data Needs Updating?

The October changes affect more than an article.

Any card database containing the previous values should now be audited.

At minimum:

• Old: 1.99%
• New: 3.49%

• Old maximum: ₹1,000 per statement cycle
• New maximum: ₹100

• Old: 2.99%
• New: 3.49%

• Old maximum: ₹250 per statement cycle
• New maximum: ₹100

• Old maximum: ₹150 per statement cycle
• New maximum: ₹100

Any comparison article presenting Zenith as a low-forex card should also be reviewed.

CardRecommend's Take

This is a meaningful devaluation, particularly for AU Zenith.

The move from 1.99% to 3.49% eliminates one of Zenith's clearest advantages for international travellers.

A premium card charging ₹7,999 annually before taxes now has the same headline forex markup as several much more mainstream AU cards.

That doesn't automatically make Zenith a bad card.

Its airport lounge access, milestone rewards, premium services and other benefits can still generate value for the right user.

But the card is now significantly harder to recommend specifically for foreign-currency spending.

Vetta's forex increase is smaller, moving from 2.99% to 3.49%, but it reaches the same destination: the card no longer offers meaningfully discounted forex pricing.

The fuel changes make the overall package weaker again.

Zenith's fuel-waiver cap collapsing from ₹1,000 to ₹100 is particularly difficult to ignore. Even if most users never maximised the old cap every month, a 90% reduction in a published benefit is substantial.

For international spending: major downgrade.

For Zenith holders: the 1.99% forex advantage is gone.

For Vetta holders: the previous 2.99% rate is gone.

For fuel spending: both cards are now capped at only ₹100 of surcharge waiver per statement cycle.

For existing cardholders: don't evaluate the cards using their old forex or fuel figures.

If international spending is your main priority, alternatives offering 0% to 1% forex markup now deserve much stronger consideration.

Frequently Asked Questions

The current AU Zenith product page shows a 3.49% cross-currency foreign markup on international transactions.

The previous rate was 1.99%.

AU Vetta now carries a 3.49% forex markup.

Its previous rate was 2.99%.

The revised rates took effect from October 1, 2026.

At the old 1.99% rate, the markup was approximately ₹1,990 before GST.

At 3.49%, it is approximately ₹3,490.

That's an increase of ₹1,500 before GST, or roughly ₹1,770 after accounting for 18% GST on the markup difference.

The maximum is now ₹100 per statement cycle on eligible fuel transactions.

Previously, Zenith offered a maximum waiver of ₹1,000 per statement cycle.

Vetta is now capped at ₹100 per statement cycle, down from ₹250.

Its forex markup was already in AU's standard 3.49% category, so the main October change discussed here is the fuel-waiver cap.

Altura Plus's fuel-surcharge-waiver ceiling has fallen from ₹150 to ₹100 per statement cycle.

No.

AU continues to advertise 0.99% forex markup on Zenith+.

Zenith and Zenith+ are separate credit-card products.

AU currently continues to advertise 0% forex markup on ixigo AU.

No.

AU's current Zenith page continues to list domestic and international airport lounge access.

Domestic lounge access is subject to the applicable quarterly spending requirement.

Not necessarily.

The answer depends on whether you continue receiving enough value from lounges, rewards, milestones and other card benefits to justify the fee.

However, if low forex markup was your primary reason for holding Zenith, the value proposition has changed substantially.

Final Verdict

The October 2026 changes materially weaken both AU Zenith and AU Vetta for international travellers.

Zenith suffers the larger setback.

Its forex markup has jumped from 1.99% to 3.49%, while its maximum monthly fuel-surcharge waiver has fallen from ₹1,000 to just ₹100.

Vetta has moved from 2.99% to 3.49% forex, while its fuel cap falls from ₹250 to ₹100.

For occasional overseas spenders, the absolute difference may remain manageable.

For frequent international travellers spending several lakh rupees abroad each year, the additional cost can become substantial.

The conclusion is straightforward:

AU Zenith should no longer be treated as a low-forex credit card.

And with Vetta now at the same 3.49% rate, neither card stands out on international transaction costs.

Existing holders should recalculate the value they receive from the remaining rewards, lounge and milestone benefits rather than relying on the economics that applied before October 1, 2026.

Sources and References

Official current product page confirming the revised 3.49% international transaction markup, ₹100 fuel-surcharge-waiver cap, fees and remaining card benefits.

https://www.aubank.in/personal-banking/credit-cards/zenith-credit-card

Official current product page confirming the 3.49% international transaction markup, ₹100 fuel-surcharge-waiver cap, annual fee and lounge benefits.

https://www.aubank.in/personal-banking/credit-cards/vetta-credit-card

Earlier AU documentation showing Zenith at 1.99% forex, Vetta at 2.99%, and the previous fuel-waiver caps of ₹1,000 for Zenith, ₹250 for Vetta and ₹150 for Altura Plus.

https://www.aubank.in/personal-banking/credit-cards

Official product page confirming that the fuel-surcharge-waiver cap was revised to ₹100 per statement cycle effective October 1, 2026.

https://www.aubank.in/personal-banking/credit-cards/altura-plus-credit-card

October 2, 2026 coverage documenting the effective date and old-versus-new forex and fuel figures.

https://cardjaano.com/

Independent tracking of the October 1 AU changes against AU's product pages, Key Fact Statement and updated terms.

https://cardadvisor.in/

Disclaimer: Credit-card fees, rewards, forex charges, lounge eligibility, fuel benefits and other terms can change. Always verify the latest AU Small Finance Bank product page and applicable Most Important Terms & Conditions before applying or making a financial decision.