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

[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.

 

[54R4NG]

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.

 

[54R4NG]

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.

 

[54R4NG]

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?

 

[54R4NG]

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 🙂

 

[EverybodyEverybody is verified member.]

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.

 

[Krishna Kumar]

M&G also there 🤔

No. Initially it was mentioned but Removed in the latest feature list.

 

[BVCBVC is verified member.]

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

Typo Mistake . Yes Burgundy Debit Card.

 

[BVCBVC is verified member.]

No. Initially it was mentioned but Removed in the latest feature list.

Seems you are totally disappointed with this.

 

[shashankrt]

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

Frankly if anyone has MB + Infinia + Burgundy / wealth DC + Amex Plat charge or Travel - no other card is required unless for specific use case like fuel and stuff.

However what I have observed (me included) is - above are mostly the ppl who apply for newer cards. I al applied for Mayura as I know I will utilize it infrequently but will cover the joining fees.

Also same was said for Club Vistara IDFC card. That bugger helped me recently with tax payments as no other card except amex was giving any benefits.