IDFC First Bank Mayura Super Premium Credit Card & Ashva Premium Credit Card (Both Metal Cards) Launched

[drsel]

I already applied for Mayura card and it’s approved. Even I was skeptical yesterday while looking at that MC World privileges and same I have mentioned in my 1st post too. I loved the visual appeal and colour of Mayura card and 0 forex helps me.

If you don’t require 0% forex benefit and guest lounge access benefit you can go for ASHVA, you get some Visa Infinite benefits too. To me Network really doesn’t matter because I have 4 Visa Infinite and 1 MC world Elite

So is the final consensus that if you have IDFC wealth lifetime free along with Magnus Burgundy lifetime free, Burgundy debit card, etc;
you don't need mayura nor ashwa ?

1. With IDFC wealth I am getting 2 Spa access every month for 20000 spend in the previous month
2. I have burgundy debit card for 1+1 free movies up to 500, 5 times a month
3. For foreign spends I have cards which give a higher positive net return, much more than zero.
4. I get unlimited free domestic and international lounge access on Magnus Burgundy with Priority pass

 

[Krishna Kumar]

So is the final consensus that if you have IDFC wealth lifetime free, you don't need mayura nor ashwa ?
Because I have burgundy debit card for 1+1 free up to 500, 5 times a month
For foreign spends I have cards which give a higher positive net return, much more than zero

Y e s

 

[Lorddiesel]

IDFC First Bank has launched two metal Super Premium/ Premium credit cards:

- Mayura Metal Credit Card (Weight - 17gm)
- Ashva Metal Credit Card (Weight - 12gm)

Mayura Metal Credit Card:​

Mayura is a super premium metal credit card launched from IDFC first bank inspired by most elegant bird, the peacock is a symbol of luck, poise, and beauty.
View attachment 65698

Joining Benefits:
- Limited time joining benefit of 10000 points on Joining fee payment before August 31st 2024.
- For every transaction above ₹1,000, you receive ₹1,000 as cashback, up to a maximum of four times. Valid for the first 60 days after the virtual credit card is generated. The cashback will be credited upon paying the joining fee. (Excluded transactions: Cash withdrawals, fees, charges and GST, and transactions made via the FIRST Digital Credit Card associated with the Mayura Credit Card)

Main Benefits:
- 0% Forex Markup fees on International Transactions.
- BOGO on Bookmyshow up to 2 tickets and capping of 500 per ticket.
- Avail 1% Fuel Surcharge Waiver up to ₹500 in a statement cycle at all fuel stations across India on transactions between ₹200 & ₹5,000.
- No Interest on Cash withdrawl
- Up to 4 complimentary visits per quarter (domestic and international) including 1 complimentary visit per quarter for accompanying guest to select Indian airport lounges. The guest visit will be a part of the overall Indian airport lounge access benefit. (**Spend ₹20,000 in the current calendar month to avail the benefit in the next month).
- Free Trip Cancellation Cover: For Any Reason cover, you can cancel flight and hotel bookings and avail a reimbursement of up to ₹50,000 twice a year.
- 4 complimentary visits to lounges per quarter at select Indian railway terminals.
- Avail up to two (2) complimentary golf rounds or golf lessons every month for every ₹20,000 of monthly statement spends using your Mayura Credit Card.
- Complimentary Road Side Assistance.
- Mastercard World Privileges (Meet and Greet Airport Services, Limo Service Airport Pick up and Drop - **Some clarity needed on this will be updated)

Reward System:
- 10 reward points for incremental spends above ₹20,000 in a statement cycle and on your birthday and 5 reward points on spends till ₹20,000 in a statement cycle.
- 3 reward points on Education, Wallet Load, Government, Rent and Property Management/Purchase transactions. 1 reward point on utilities and insurance transactions. Spends in these categories will not be considered for 10X monthly milestone.
- Reward points will not be given on spends converted to EMI, Cash Withdrawal, Fuel, Fee and Charges.

Reward Points Value:
- 1 reward point is given for every ₹150 spent in a transaction. Value of 1 reward point is ₹0.25.
- All the rewards points never expire.

Fee Structure:
- Joining Fees: 5999 + GST = 7078.82 with Joining Benefits
- Annual Fees: 5999 + GST = 7078.82 (No Annual Benefits)
- Add on Card charged ( Metal Variant: ₹4000 & Plastic Variant: ₹3000 & Annual Fee: ₹2000 for both variants)

Eligibility:
25 Lakhs annual Income for fresh applications and for existing IDFC Credit Card holders approval based on profile check and it's open to apply. Can be applied from below link.

Mayura Credit Card: Financial Sophistication Meets Artisanal Beauty | IDFC FIRST Bank

Step into the realm of the Mayura Credit Card and experience the fusion of luxury and functionality. Crafted for those who appreciate the finer things in life, this metal credit card offers a suite of premium perks that transform every transaction into a testament to your elegance.

www.idfcfirstbank.com

ASHVA Metal Credit Card:
​

Ashva is a premium metal credit card launched from IDFC first bank inspired by: In the era of Indian royalty, horses or Ashva, were symbols of pride and
revered for their prowess.
View attachment 65701

Joining Benefits:
- Limited time joining benefit of 5000 points on Joining fee payment before August 31st 2024.
- For every transaction above ₹500, you receive ₹500as cashback, up to a maximum of four times. Valid for the first 60 days after the virtual credit card is generated. The cashback will be credited upon paying the joining fee. (Excluded transactions: Cash withdrawals, fees, charges and GST, and transactions made via the FIRST Digital Credit Card associated with the Mayura Credit Card)

Main Benefits:
- 1% Forex Markup fees on International Transactions.
- BOGO on Bookmyshow up to 2 tickets and capping of 500 per ticket.
- Avail 1% Fuel Surcharge Waiver up to ₹400 in a statement cycle at all fuel stations across India on transactions between ₹200 & ₹5,000.
- No Interest on Cash withdrawl
- Up to 4 complimentary visits per quarter for domestic and 2 complimentary international lounge access including 1 complimentary visit per quarter for accompanying guest to select Indian airport lounges. No guest access benefit. (**Spend ₹20,000 in the current calendar month to avail the benefit in the next month).
- Free Trip Cancellation Cover: For Any Reason cover, you can cancel flight and hotel bookings and avail a reimbursement of up to ₹25,000 twice a year.
- 4 complimentary visits to lounges per quarter at select Indian railway terminals.
- Avail up to two (2) complimentary golf rounds or golf lessons every month for every ₹20,000 ofmonthly statement spends using your Ashva Credit Card.
- Complimentary Road Side Assistance.
- Discounted rates for Airport Meet and Greet, Concierge services from Visa Infinite.

Reward System:
- 10 reward points for incremental spends above ₹20,000 in a statement cycle and on your birthday and 5 reward points on spends till ₹20,000 in a statement cycle.
- 3 reward points on Education, Wallet Load, Government, Rent and Property Management/Purchase transactions. 1 reward point on utilities and insurance transactions. Spends in these categories will not be considered for 10X monthly milestone.
- Reward points will not be given on spends converted to EMI, Cash Withdrawal, Fuel, Fee and Charges.

Reward Points Value:
- 1 reward point is given for every ₹150 spent in a transaction. Value of 1 reward point is ₹0.25.
- All the rewards points never expire.

Fee Structure:
- Joining Fees: 2999 + GST = 3538.82 with Joining Benefits
- Annual Fees: 2999 + GST = 3538.82 (No Annual Benefits)
- Add on Card charged ( Metal Variant: ₹2000 & Plastic Variant: ₹1500 & Annual Fee: ₹1000 for both variants)

Eligibility:
12 Lakhs annual Income for fresh applications and for existing IDFC Credit Card holders approval based on profile check and it's open to apply. Can be applied from below link.

Ashva Credit Card: The Essence of Exclusivity in Your Wallet | IDFC FIRST Bank

Embrace the Ashva Heritage Credit Card's embodiment of exclusivity and prestige. With its metal form factor, this credit card transcends the ordinary, offering you not only exclusive rewards and benefits but also serving as a hallmark of your unique lifestyle and financial stature.

www.idfcfirstbank.com

Any user can apply for both the credit cards based on the profile and immediately card details will be displayed on the App and Net banking. I have applied for Mayura card and it's approved. My choice was for BMS BOGO, 0% Forex Markup, Joining Benefits and my love for metal credit cards.

View attachment 65706

Annual Benefit:

Annual benefit for IDFC Mayura Credit Card (Annual Fee Payment Benefit: Spend minimum ₹8Lakhs in the previous card anniversary year and get 7,500 Reward Points (worth₹1875) (Or) Spend minimum ₹15 Lakhs in the previous card anniversary year and get 15,000 Reward Points(worth ₹3750).

Annual benefit for IDFC Ashva Credit Card (Annual Fee Payment Benefit: Spend minimum ₹8 Lakhs in the previous card anniversary year and get 7,500 Reward Points (worth ₹1875).

Overall Verdict:

IDFC launched cards just to fill the void of the paid metal cards in their portfolio. There are no super premium nor premium benefits on these cards, but the name and legacy they used is watchable to promote Indian names. At this price point they have maintained spend base access to Lounges, Golf, Spa etc.. and reward rate is not also good at this price point. Recommended only for Joining benefits.

HNIs who really can afford to pay 6000 +gst fee, will not wait a month to get lounge and golf benefits

Their CEO is really a fruitcake

 

[Krishna Kumar]

So is the final consensus that if you have IDFC wealth lifetime free, you don't need mayura nor ashwa ?

1. With IDFC wealth I am getting 2 Spa access every month for 20000 spend in the previous month
2. I have burgundy debit card for 1+1 free movies up to 500, 5 times a month
3. For foreign spends I have cards which give a higher positive net return, much more than zero.
4. I get unlimited free domestic and international lounge access on Magnus Burgundy with Priority pass

You already have Lions and Eagles in your arsenal.

There is no need for a horse and a peacock

 

[Dreamer]

So is the final consensus that if you have IDFC wealth lifetime free along with Magnus Burgundy lifetime free, Burgundy debit card, etc;
you don't need mayura nor ashwa ?

1. With IDFC wealth I am getting 2 Spa access every month for 20000 spend in the previous month
2. I have burgundy debit card for 1+1 free movies up to 500, 5 times a month
3. For foreign spends I have cards which give a higher positive net return, much more than zero.
4. I get unlimited free domestic and international lounge access on Magnus Burgundy with Priority pass

Thanks for summary. I m in the same boat.

 

[dravidsarang]

I have a question for you guys. How do you manage big amount in your banks without any worry as banks insure only 5L of amount?
In recent times reputed bank like Yes Bank and some co-operative banks were defaulted rendering many depositors losing their hard earned money.

I had a different situation during my IDFC account opening period.
I sold a property and had a big amount cheque to deposit I knew this is my time to get the best Premium Banking Facilities and IDFC was on the top of the list during that time period.

I was in Hyderabad during that period and I was assured that I will be upgraded to Private Banking within a month after opening the account. They opened a Wealth Account and I later moved to a Tier 2 City (within 1 month) time period.

Now, I kept pushing with a lot of calls to the RM regd Private Upgrade but it did not happened, also by that time I moved 90% of my funds from Bank account to other investments and eventually I received a call that I need to have a 50-75lks NRV for Private Upgrade. Which later I denied and sticked with Wealth forever.

Now the account is further pushed to "Select" account as I have NRV even below 2 Lks with them for over 2 years.

 

[Krishna Kumar]

Now the account is further pushed to "Select" account as I have NRV even below 2 Lks with them for over 2 years.

So your Wealth DC was replaced by Select DC??

 

[EnthuCC]

I had a different situation during my IDFC account opening period.
I sold a property and had a big amount cheque to deposit I knew this is my time to get the best Premium Banking Facilities and IDFC was on the top of the list during that time period.

I was in Hyderabad during that period and I was assured that I will be upgraded to Private Banking within a month after opening the account. They opened a Wealth Account and I later moved to a Tier 2 City (within 1 month) time period.

Now, I kept pushing with a lot of calls to the RM regd Private Upgrade but it did not happened, also by that time I moved 90% of my funds from Bank account to other investments and eventually I received a call that I need to have a 50-75lks NRV for Private Upgrade. Which later I denied and sticked with Wealth forever.

Now the account is further pushed to "Select" account as I have NRV even below 2 Lks with them for over 2 years.

Thanks for the detailed reply. I always wonder how HNI park their money in Indian banks with very little insurance of 5L amount.

By the way I'm reading the first time that IDFC downgrade account. I was under impression that they never downgrade.

 

[dravidsarang]

So your Wealth DC was replaced by Select DC??

Nope DC remains the same. I can only notice the ICON on my app says "select" now.
I doubt there is any difference with Select/Wealth, the branch I have account at anyways do not have locker facility so free locker stuff was anyways not working for me.

 

[dravidsarang]

Thanks for the detailed reply. I always wonder how HNI park their money in Indian banks with very little insurance of 5L amount.

By the way I'm reading the first time that IDFC downgrade account. I was under impression that they never downgrade.

Same... Never thought of it till it actually happened with me. My IDFC NRV moved from 80 Lks+ to under 1Lk (currently ~2 lks)in last 3 Years time.
May be some random checks

 

[EnthuCC]

Same... Never thought of it till it actually happened with me. My IDFC NRV moved from 80 Lks+ to under 1Lk (currently ~2 lks)in last 3 Years time.
May be some random checks

Do you get all benefits of your Wealth DC till today for example Rs. 250 off on Paytm movies and reward points etc?

 

[dravidsarang]

Do you get all benefits of your Wealth DC till today for example Rs. 250 off on Paytm movies and reward points etc?

I think it will continue to work. Actually never used any Wealth DC offers as I also have Wealth CC the BOGO offer on paytm works like a charm with CC.
Anyways, let me try it later today (for wealth DC) and update this post

 

[Everybody]

I think it will continue to work. Actually never used any Wealth DC offers as I also have Wealth CC the BOGO offer on paytm works like a charm with CC.
Anyways, let me try it later today (for wealth DC) and update this post

Now that Paytm is selling to Zomato , need to see how these work.

 

[BVCBVC is verified member.]

MasterCard with 0% Forex is actually great combination as MC currency conversion charges are better than Visa currency conversion charges.






I have a question for you guys. How do you manage big amount in your banks without any worry as banks insure only 5L of amount?
In recent times reputed bank like Yes Bank and some co-operative banks were defaulted rendering many depositors losing their hard earned money.

Big banks like HDFC, SBI, ICICI, Kotak, are too big to fail. If they fail as an bank then Indian economy will be a problem.

 

[BVCBVC is verified member.]

So is the final consensus that if you have IDFC wealth lifetime free along with Magnus Burgundy lifetime free, Burgundy debit card, etc;
you don't need mayura nor ashwa ?

1. With IDFC wealth I am getting 2 Spa access every month for 20000 spend in the previous month
2. I have burgundy debit card for 1+1 free movies up to 500, 5 times a month
3. For foreign spends I have cards which give a higher positive net return, much more than zero.
4. I get unlimited free domestic and international lounge access on Magnus Burgundy with Priority pass

Not many have all the combo you mentioned. LTF M4B, Wealth CC and Wealth DC.

 

[drsel]

Not many have all the combo you mentioned. LTF M4B, Wealth CC and Wealth DC.

I don't have Wealth debit card, I have Burgundy debit card

 

[Riva]

So is the final consensus that if you have IDFC wealth lifetime free along with Magnus Burgundy lifetime free, Burgundy debit card, etc;
you don't need mayura nor ashwa ?

1. With IDFC wealth I am getting 2 Spa access every month for 20000 spend in the previous month
2. I have burgundy debit card for 1+1 free movies up to 500, 5 times a month
3. For foreign spends I have cards which give a higher positive net return, much more than zero.
4. I get unlimited free domestic and international lounge access on Magnus Burgundy with Priority pass

What is the card for point no 3?

 

[theflash]

I will consider Mayura if we get more details on the airport pickup drop service. Will wait till Aug end.

M&G also there

 

[navdeep22]

Q. what is the reason of upgrading/changing wealth credit card to any of the above card?

asnwer depicted by post and comments

No reason at all. Donot get this card even if they are giving you free private jet with it
Thank you

 

[shashankrt]

I have a question for you guys. How do you manage big amount in your banks without any worry as banks insure only 5L of amount?
In recent times reputed bank like Yes Bank and some co-operative banks were defaulted rendering many depositors losing their hard earned money.

Well big banks - SBI, HDFC, ICICI, AXIS are considered systemically important and hence will not be allowed to fail. Even in worse case scenario money may get blocked but will not be lost. Yes bank also returned all monies. Co-operative banks - I will not touch even with 10 ft pole stick. those are shady as hell and can go down anytime.