IDFC FIRST Mayura Credit Card: A Metal Card worth the Premium status?

IDFC FIRST bank creates a separate rewards account for Mayura credit card users who can avail the following reward benefits via this card: 

10X Rewards: On incremental spends made above Rs. 20,000 in a monthly billing cycle and on birthday spends.
5X Rewards: On spends up to Rs. 20,000 in a monthly billing cycle.
3X Rewards: On FIRST Digital Credit Card transactions worth Rs. 2,000 and above, rent, wallet load, education, and government-related spends.
1X Rewards per Rs. 150 spent: On FIRST Digital Credit Card transactions worth below Rs. 2,000, utilities, and insurance spends.
10X Reward Points Calculation Exclusions: 3X and 1X rewards category spends, except FIRST Digital Credit Card transactions, are not going to be counted towards the calculation to unlock 10X rewards.
Exclusions from Rewards Program: Spends made on fuel, loan on card, cash withdrawals, transactions worth below Rs. 150 or those converted into EMIs, fees and charges with corresponding GST, and balance transfers.

Rewards Redemption

Even though all primary and add-on cardholders can earn reward points on their spends, only the primary card member can redeem them.

Redemption Value: 1 Reward Point = Rs. 0.25
Validity: The accrued reward points do not expire
Redemption Fee: Rs. 99 + GST, levied on every rewards redemption against vouchers or on adjustment against payment for select online and offline transactions

Welcome Benefits

Cardholders can earn up to Rs. 4,000 cashback as a welcome bonus. Under this benefit, you get Rs. 1,000 cashback on each transaction of Rs. 1,000 or more made within 60 days of card generation. This is applicable on a maximum of 4 such transactions, where the cashback is going to be credited once you pay the joining fee.

Excluded Transactions: Transactions made via FIRST Digital credit card associated with IDFC FIRST Mayura, fees and charges with GST, and cash withdrawals.

Renewal Benefit

Under the renewal or annual fee payment benefit, you can avail either of the following bonuses based on your annual spends:

• 7,500 Reward Points worth Rs. 1,875 on annual fee payment if you reached Rs. 8 lakh annual card spends during the previous year
• 15,000 Reward Points worth Rs. 3,750 on annual fee payment if you spent at least Rs. 15 lakh during the previous year

Complimentary Airport Lounge Access

Domestic Lounges

• Up to 16 complimentary domestic lounge and spa visits to at select airport lounges in India every year, maximum 4 visits per calendar quarter
• Up to 4 complimentary guest visits to domestic airport lounges every year, maximum 1 free visit per quarter for a guest accompanying the cardholder

International Lounges 

• Up to 8 complimentary visits to select international/overseas airport lounges in a year, maximum 2 per quarter

You must spend minimum Rs. 20,000 in the previous month to avail the above-mentioned airport lounge benefits in the current month.

The lounge benefits offered by IDFC FIRST Maurya are decent, but come with another spending condition. The targeted customer base of this card could however easily match the monthly spends required to avail these benefits. The complimentary guest visits to domestic lounges, though limited, are certainly a favourable feature which is only available on a select few cards.

Complimentary Railway Lounge Access

Up to 16 complimentary railway lounge visits at select Indian Railway terminals, up to 4 visits per quarter. You can also share this complimentary visit quota with a guest who has a valid train ticket without paying any extra charges.

Golf Benefits

This card offers up to 2 complimentary golf rounds/lessons every month to the cardholders. You can avail the 1st round/lesson on reaching monthly spends worth Rs. 20,000 and the 2nd round/lesson on reaching Rs. 40,000 monthly spends.

Comprehensive Insurance Benefits

IDFC FIRST Mayura credit card offers an extensive travel insurance coverage to its cardholders as listed below:

• Air Accident Cover*: Rs. 1 crore
• Personal Accident Cover*: Rs. 10 lakh
• Lost Card Liability Cover*: Rs. 50,000
• Loss of Checked-in Baggage: USD 500
• Delay of Checked-in Baggage: USD 100
• Delay in Flight: USD 300
• Loss of Passport and Other Documents: USD 300
• 24×7 Roadside Assistance: Rs. 1,399

*Valid only if you make at least 1 card transaction in the last 30 days.

Other Card Benefits

Zero Forex Mark-up: No forex mark-up fee is charged on any international purchase

Movie Benefits: Buy one get one offer on BookMyShow movie tickets with up to Rs. 500 off on the 2nd movie ticket, twice every month. Valid till 31st March 2025.

Free Trip Cancellation Cover: Reimbursement of up to Rs. 50,000 for non-refundable flight and hotel booking cancellations, twice a year

Fuel Surcharge Waiver: 1% surcharge waiver of up to Rs. 500 every month on all fuel transactions worth Rs. 200 to Rs. 5,000

You can apply for IDFC FIRST Mayura Credit Card if you can utilise its benefits well by meeting the spend-based conditions applicable on rewards, lounge and renewal benefits.

Opt for this card if:

• You are a frequent traveller
• You make considerable international spends and want a zero forex mark-up
• You are a high-income individual
• You can maximise your savings by meeting the spend-based conditions on the card’s features
• You want a rewards credit card with overall benefits
• You do not mind paying a high annual fee

Consider other card options if:

• You want a card with better rewards redemption value and options
• You prefer to earn cashback or get brand discounts instead of reward points
• You want a co-branded card with category specific or exclusive brand offers
• You do not want a card with spend-based conditions on its rewards and lounge benefits