IDFC FIRST Financial institution launched the Mayura & Ashva Credit score Playing cards a couple of yr in the past underneath the premium phase as paid variants. Whereas they didn’t make a lot noise initially, latest upgrades like accelerated rewards and 2X level worth have given life to the cardboard.
Right here’s all the things it’s worthwhile to find out about IDFC FIRST Financial institution Mayura bank card in it’s present kind.
Overview
| Kind | Premium Credit score Card |
| Reward Price | 0.8% – 20% |
| Greatest for | Journey Spends |
| USP | 0% Foreign exchange |
Whereas the reward charge begins off low for low spenders, it scales up properly with greater spends. Additional, 2X level worth on journey redemptions offers reward charge pretty much as good as HDFC Infinia‘s 3.3% on common spends.
Becoming a member of Charges
| Becoming a member of Charge | 5,999 INR + GST |
| Welcome Profit | 1000 INR Cashback * 4 instances |
| Renewal / Annual Charge | 5,999 INR + GST |
| Renewal Profit | – 7500 RP (value 3750 INR on 8L Spend) – 15,000 RP (value 7500 INR on 15L Spend) |
| Renewal Charge waiver | Nil |
To qualify for the welcome profit, you’ll have to make 4 transactions of ₹1,000+ every inside the first 60 days. The renewal profit is cleverly designed to supply worth for prime spenders.
Design
IDFC Mayura Credit score Card is available in a metallic kind issue and it feels simply as heavy as most different metallic playing cards on the market.
Whereas I’m personally not a fan of this color, the general design stands out with a number of parts thoughtfully stitched collectively.
It’s a type of playing cards that feels extra like a collector’s piece than simply one other plastic within the pockets.
Rewards
| SPEND TYPE | REWARDS | REWARD RATE (Common) |
REWARD RATE (Journey) |
|---|---|---|---|
| Offline | 5 RP / 150 INR (5X) |
0.8% | 1.66% |
| On-line | 5 RP / 150 INR (5X) |
0.8% | 1.66% |
| Spends >20K (per stmt) |
10 RP / 150 INR (10X) |
1.66% | 3.33% |
| Flights (on app) |
30 RP / 150 INR (10X) |
5% | 10% |
| Inns (on app) |
50 RP / 150 INR (10X) |
8.3% | 16.66% |
| UPI (Digital Rupay) |
3 RP / 150 INR (3X) |
0.5% | 1% |
- Factors don’t expire
- 1 Reward Level = 0.25 INR (Common) / 1 Reward Level = 0.25 INR (Journey)
- 1 Reward Level per 150 INR (it was 1RP/100 INR earlier than)
- Redemption Fees: 99 INR+GST
Flight and resort bookings made through the “Journey & Store” part on the IDFC FIRST Financial institution app now earn bonus rewards as above.
The brand new journey redemption choice offers 2X the purpose worth (0.50 INR/level) which is an effective motivator for IDFC Wealth Credit score Card holders to contemplate switching to Mayura for higher worth on redemptions.
Digital Rupay Card Phrases:
- Digital RuPay Card, linked to current IDFC FIRST Financial institution Credit score Card
- Spends on Digital Credit score Card shall be counted in direction of 10X milestone & annual price fee
Phrases & Situations:
- Insurance coverage & Utilities: 1 Reward Level / 150 INR (0.20%)
- Lease, Authorities, Pockets Load and Schooling: 3 Reward Level / 150 INR (0.50%)
- Above classes won’t be a part of 10X calculations.
- Utility spends will earn 1X (0.16%) – MCC: 4814, 4816, 4899, 4900
- Utility spends will earn 1% price on commercials spends (>20K INR a month)
- Spends restricted up-to the credit score restrict (in a billing month), like RBL Playing cards
Lounge Entry
| ACCESS TYPE | ACCESS VIA | ACCESS LIMIT |
|---|---|---|
| Home (Airport Lounges) |
Direct | 4/Qtr |
| Home (Railway Lounges) |
Direct | 4/Qtr |
| Worldwide | Dreamfolks | 4/Qtr |
Home lounge entry additionally comes with 1 visitor entry (per Qtr) which is an effective function to have.
A minimal month-to-month spend of ₹20,000 is required within the present calendar month to qualify for lounge entry within the following month.
It’s fairly unfair to anticipate month-to-month spends on a card that prices nearly 7K INR. So this implies, even when you splurge 10L on a festive month, you’ll nonetheless be holding a card with out lounge entry after a month!
Golf Profit
- Complimentary rounds: Upto 2/month (video games & classes)
- This profit is linked to spend requirement.
Spends of 20,000 INR (or) 40,000 INR are required to unlock 1 (or) 2 rounds respectively. Spends performed in a billing cycle are tracked for this home golf profit.
All of the complimentary rounds earned in a billing cycle shall be eligible for redemption from 1st of subsequent month and shall be out there for redemption upto 2 months (60 days).
Foreign exchange Markup
- Foreign exchange Markup Charge: 0%
- Reward charge: 3.3% (journey redemption)
- Web acquire: 3.3%
With web acquire of three.33% on overseas forex transactions, IDFC FIRST Financial institution Mayura Credit score Card is certainly probably the greatest Credit score Card in India for Foreign exchange transactions.
Different Advantages
- Film Supply: Purchase 1 Get 1 supply on film tickets as much as ₹500, twice a month
- Complimentary Highway Facet Help (RSA) value ₹1,399
- Journey Cancellation Cowl: Free journey cancellation cowl of as much as ₹50,000 for as much as 2 claims on resort & flight bookings in a yr
- 1% gas surcharge waiver as much as ₹300 in an announcement cycle on gas transactions valued between ₹200 and ₹5000
- Curiosity free money withdrawal from ATM upto 45 days (W/d price: 199 INR+GST, upto 10K INR/txn)
- Revolving Curiosity Price: Comparatively decrease rate of interest in comparison with different banks, normally 20% – 24% p.a.
Complimentary roadside help is without doubt one of the distinctive function on IDFC bank cards. It possibly helpful at instances, for ex, to leap begin your automotive on breakdown.
And the curiosity free money withdrawal is a intelligent entice, because it anyway comes at w/d price and restricted upto 10K INR per transaction, which mainly means you pay at-least 2% for every withdrawal.
Easy methods to Apply?
You possibly can apply for the IDFC FIRST Financial institution Mayura Credit score Card on-line, and the approval normally occurs immediately after KYC verification.
I utilized for the cardboard myself and bought it delivered inside simply 3 days.
Bottomline
- Cardexpert Ranking: 4.5/5
The IDFC FIRST Financial institution Mayura Credit score Card is now one of the vital rewarding playing cards in India, providing a reward charge on par with most tremendous premium bank cards, due to the latest improve.
And with 0% foreign exchange markup, it’s a stable alternative for worldwide travellers as properly.
If IDFC brings in airline/resort switch companions, this might simply turn into one of many highly effective all-rounder playing cards available in the market.
Do you maintain IDFC First Mayura Credit score Card? Be at liberty to share your ideas within the feedback under.