IDFC First Bank trims credit card benefits; Mayura, Ashva users face reward cuts

IDFC First Bank has announced a broad overhaul of its credit card benefits, cutting reward rates, tightening lounge access and introducing new fees across several popular cards, including Mayura, Ashva,

Select and Wealth, according to a report by Moneycontrol.

The changes affect both premium and lifetime-free cards, as banks continue to periodically revise reward structures and usage terms.

Premium cards lose sheen on international spends

As per the report, from January 18, IDFC Ashva and Mayura cardholders will earn up to 5x reward points on international transactions, down from the earlier 10x. Cardholders can still unlock 10x rewards by spending at least ₹20,000 in a billing cycle on eligible transactions.

“This is a major change to both these premium cards and shall massively bring down the overall value derived from them,” Ankur Mittal, Co-Founder of Card Insider, told Moneycontrol.

The report added that reward points will not be credited for a billing cycle if the minimum amount due is not paid by the due date. A similar rule applies to the Club Vistara IDFC FIRST Credit Card, where Maharaja Points will not be credited in case of delayed minimum payment.

Lifetime-free cards see reward dilution

IDFC First Bank has also reduced reward earnings on its lifetime-free credit cards, Classic, Select and Wealth. According to the report, customers will now earn one reward point for every ₹200 spent, compared with one point per ₹150 earlier, translating into a roughly 25% drop in rewards.

Also read: IDFC FIRST Bank launches foreign currency savings account for NRIs in GIFT City

However, 10x reward points will continue on monthly spends above ₹20,000 and on birthday spends, while spends below ₹20,000 in a month will earn 3x points.

Lounge access curtailed

Airport lounge benefits are also being trimmed. From April 2026, IDFC FIRST Select Credit Card holders will be entitled to one complimentary domestic lounge visit per quarter, down from two earlier, Moneycontrol reported. To qualify, cardholders must spend at least ₹20,000 in the preceding month.

Similarly, IDFC FIRST Wealth Credit Card users will now be eligible for one free domestic and one international lounge visit per quarter, reduced from two visits each.

New fair usage policy and charges

The bank is introducing a fair usage policy to curb high-value spends in select categories. FASTag recharges and railway bookings will now earn only 1x reward points.

In addition, Moneycontrol said FASTag recharges above ₹10,000 in a billing cycle will attract a 1% surcharge, while railway spends exceeding ₹25,000 in a cycle will also draw a 1% fee on the total transaction amount.

“These changes target only unusually high spends in specific categories, most customers' everyday usage remains unaffected,” Mittal said, as quoted by Moneycontrol.

Travel bookings get a boost

Amid the cuts, IDFC First Bank has enhanced rewards on travel bookings made via its mobile app. Ashva and Mayura cardholders will receive 33% bonus reward points on hotel bookings and 20% bonus points on flight bookings.

For travel redemptions, one reward point is valued at ₹0.40 for Ashva and ₹0.50 for Mayura, according to Moneycontrol.

What it means for cardholders

Summing up the impact, Mittal told Moneycontrol that the latest revisions reduce the value proposition of several lifetime-free cards and significantly cut reward earnings on premium cards such as Mayura and Ashva, particularly for international spending, where reward rates have effectively been halved.

IDFC First Bank shares ended at ₹84.22 apiece, down ₹0.79 or 0.93%, today, December 24 on the BSE.

Also read: IDFC FIRST Bank launches premium FD-backed credit card with zero forex markup