IDFC First Bank reduces benefits on these popular credit cards
What's the story
IDFC First Bank has announced major changes to its credit card offerings, including the popular Mayura and Ashva cards. The bank has slashed reward rates for international transactions and introduced new fees for FASTag recharges and railway spends. Ankur Mittal, co-founder of Card Insider, said these changes will drastically reduce the overall value derived from these premium cards.
Reward changes
New reward structure for Ashva and Mayura cards
Starting January 18, cardholders of IDFC Ashva and Mayura will earn up to 5X reward points on international spends, instead of the previous 10X. Also, if a cardholder fails to pay the minimum amount due by the due date, no rewards points will be credited for that billing cycle. This change is likely to significantly impact users who frequently use these cards for international transactions.
Reward adjustments
Changes to lifetime free credit cards
IDFC First Bank has also revised the reward structure on its lifetime free credit cards - Classic, Select, and Wealth. The new structure offers rewards at ₹200 per point, up from ₹150, effectively reducing the value of rewards by 25%. However, users will still get 10X reward points on monthly spends over ₹20,000 and birthday spends. For spending below this threshold, users will get 3X reward points.
Lounge access
IDFC First Bank reduces airport lounge access
The bank is also reducing airport lounge access for its IDFC FIRST Select and Wealth Credit Cards. From April 2026, cardholders will get one complimentary domestic airport lounge access every quarter instead of two. The same goes for international lounges with up to one free visit a quarter instead of two.
Fee introduction
New fees and policies for all credit cards
IDFC First Bank has introduced a 1% surcharge on credit card FASTag recharges over ₹10,000 per billing cycle. Railway spends over ₹25,000 in a cycle will also attract a 1% fee on the total amount. "These changes target only unusually high spends in specific categories - most customers' everyday usage remains unaffected," Mittal said.