IDFC First Bank slashes benefits: Mayura, Ashva and other credit cards hit hard

IDFC First Bank reduces the value of several popular lifetime free credit cards and cuts reward earnings on premium cards.

• IDFC First Bank cuts reward rates on Ashva and Mayura cards from Jan 18, 2026
• Lifetime free cards now earn rewards at Rs 200 per point, down from Rs 150
• Airport lounge access reduced for Select and Wealth cards starting April 2026

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IDFC First Bank has slashed benefits for most of its credit cards, including Mayura and Ashva, cutting reward rates on international spends. Cardholders need to keep track of spend limits, caps, and terms, as banks keep revising benefits at regular intervals.

ICICI Bank has announced new credit-card charges, revised rewards and tighter benefits recently, and IDFC First Bank followed suit.

Check out IDFC First Credit Card changes which come into effect in 2026

Slashes rewards on premium cards

From Jan 18, IDFC Ashva and Mayura cardholders will earn up to 5X reward points on international transactions (down from 10X). Spend Rs 20,000 in a month to still get 10X points on eligible transactions.

“This is a major change to both these premium cards and shall massively bring down the overall value derived from them,” said Ankur Mittal, co-founder of Card Insider, a platform that tracks credit cards.

If a cardholder misses the minimum payment by the due date, reward points will not be applicable for that billing cycle for IDFC Ashva and Mayura.

Similarly, for the Club Vistara IDFC FIRST card, if you don't pay the minimum amount by the due date, Maharaja Points will not be applicable during that billing cycle.

Cuts rewards on lifetime free cards

IDFC First Bank has changed the reward structure on its lifetime free credit cards — Classic, Select, and Wealth. Now, you'll earn rewards at Rs 200 per point, up from Rs 150, which is a 25 percent drop in rewards. You'll still earn 10X reward points on monthly spends over Rs 20,000 and on your birthday spends. For spending below the Rs 20,000 monthly threshold, users earn 3X reward points.

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Trims airport lounge access

IDFC FIRST Select Credit Card is cutting down on airport lounge access. From April 2026, you'll get one complimentary domestic airport lounge access every quarter (4 a year), down from 2 every quarter. A cardholder needs to spend Rs 20,000 this month and unlock this benefit for next month.

Similarly, IDFC FIRST Wealth Credit Card is also reducing lounge access. Cardholders get up to one free domestic airport lounge visit a quarter and up to one complimentary international lounge visit a quarter, down from two visits each.

Fair usage policy kicks in

To keep the programme fair and prevent misuse, some changes are coming in on all credit cards. FASTag recharges and railway spends will now earn just 1X reward points. A 1 percent surcharge applies to credit card FASTag recharges if they exceed Rs 10,000 per billing cycle. Similarly, railway spends of over Rs 25,000 in a cycle will also attract a 1 percent fee on the total amount.

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

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Accelerated reward points on travel bookings

Ashva and Mayura credit cards now offer accelerated reward points on travel bookings via IDFC FIRST Bank Mobile App. Cardholders will get 33 percent bonus reward points on hotel bookings and 20 percent bonus reward points on flight bookings. For Ashva, 1 reward point is worth Rs 0.40 on travel redemptions, while for Mayura, it's Rs 0.50.

Bottom line

Mittal said, "IDFC First Bank's latest move diminishes the value of several popular lifetime free credit cards and cuts reward earnings on premium cards like Mayura and Ashva.” The bank halved the reward rate on these cards, which were luxury options for international spends.