We have seen India’s travel industry boom in the last few years. As more and more Indians travel domestically and internationally, many banks are offering travel-centric credit cards. The IDFC FIRST Bank Mayura Credit Card is one such offering from IDFC FIRST Bank. While the card provides excellent travel benefits, it also offers other benefits like BOGO on movies, golf rounds, etc., making it a complete lifestyle credit card. In this article, we will do an IDFC FIRST Bank Mayura Credit Card review, understand its features and benefits, and evaluate whether it should be your primary travel credit card.
IDFC First Mayura Metal Credit Card
- Welcome Benefit:
- 4,000 reward points on payment of joining fee
- Additional 4,000 reward points on spending Rs. 20,000 or more in the second billing cycle
- Additional 4,000 reward points on spending Rs. 20,000 or more in the third billing cycle
- Renewal Benefits:
- 4,000 reward points on payment of renewal fee
- Usps:
The card stands out due to its zero forex markup fee, higher frequency of complimentary lounge visits
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Overview Table
| Feature | Details |
|---|---|
| Card type | Rewards card |
| Reward range | Up to 60X reward points on travel bookings, 10X reward points on incremental monthly spends above Rs. 20,000, and up to 5X reward points on monthly spends under Rs. 20,000 |
| Joining fee | Rs. 5,999 + Taxes |
| Welcome bonus | Up to Rs. 4,000 cashback |
| Renewal fee | Rs. 5,999 + Taxes |
| Renewal benefit | Up to 15,000 reward points |
| Best for | Travel bookings |
| USP | Up to 60X reward points on travel bookings, reward points for annual milestone spends, zero forex mark-up, complimentary airport and railway lounge access, trip cancellation cover, BOGO offer on movies, complimentary golf rounds, etc. |
Fees & Benefits
The IDFC FIRST Bank Mayura Credit Card has a joining fee of Rs. 5,999 + Taxes.
The cardholder can earn joining benefits of up to Rs. 4,000 cashback. For every transaction of Rs. 1,000 or above, the cardholder will receive Rs. 1,000 cashback, up to a maximum of 4 times. The cashback offer is valid for the first 60 days after the virtual credit card is generated.
The cashback will be credited within 7 days of completing the eligible transactions. The transactions made through the FIRST Digital Credit Card associated with the Mayura Credit Card are excluded. The cashback benefit applies only to cardholders who have paid the joining fee.
The annual renewal fee on the credit card is Rs. 5,999 + Taxes.
On payment of the annual renewal fee, the cardholder can avail of one of the following benefits:
- 7,500 reward points (worth Rs. 3,750) by spending Rs. 8 lakhs in the previous card anniversary year, or
- 15,000 reward points (worth Rs. 7,500) by spending Rs. 15 lakhs in the previous card anniversary year
Please note that the cardholder can avail of any one of the above benefits, depending on the amount spent in the previous card anniversary year. The benefit applies only to cardholders who have paid the annual renewal fee.
Post the card renewal date, the reward points will be credited to the cardholder’s reward points account on the following statement generation date.
Rewards structure
The IDFC FIRST Bank Mayura Credit Card has the following rewards structure.
| Transaction details | Reward rate for every Rs. 150 spent |
|---|---|
| Insurance and utility bill payments | 1 reward point |
| Rent, Government transactions, wallet loading, education | 3 reward points |
| Eligible spends of up to Rs. 20,000 in a monthly statement cycle | 5 reward points |
| Eligible incremental spends above Rs. 20,000 in a monthly statement cycle and birthday | 10 reward points |
| Hotel bookings through the ‘Travel and Shop’ section on the IDFC FIRST Bank Mobile App | 50 bonus reward points |
| Flight bookings through the ‘Travel and Shop’ section on the IDFC FIRST Bank Mobile App | 30 bonus reward points |
The spends mentioned in points 1 and 2 above are not considered for the calculations for the 10 reward points mentioned in point 4.
The bonus reward points (RP) mentioned in points 5 and 6 are over and above the usual reward points on online spends mentioned in points 3 and 4. Thus, a cardholder can earn 60 RP/Rs. 150 spent on hotel bookings (base 10 RP + 50 bonus RP), provided the cardholder has already spent Rs. 20,000 or more on eligible categories in a statement cycle.
Similarly, a cardholder can earn 40 RP/Rs. 150 spent on flight bookings (base 10 RP + 30 bonus RP), provided the cardholder has already spent Rs. 20,000 or more on eligible categories in a statement cycle.
The bonus points will be credited on the 5th of the next calendar month, post completion of the flight travel or hotel check-in. A maximum of 25,000 bonus reward points can be earned in a calendar month.
The following transactions/categories will not earn any reward points.
- Fuel transactions
- Transactions converted into EMIs
- Transactions whose value is below Rs. 150
The cardholder can activate UPI on their Mayura Credit Card by generating a linked FIRST Digital RuPay Credit Card. The reward structure for the FIRST Digital RuPay Credit Card is as follows.
| Transaction details | Reward rate for every Rs. 150 spent |
|---|---|
| Transaction valued up to Rs. 2,000 | 1 reward point |
| Transaction valued above Rs. 2,000 | 3 reward points |
The spends on the linked FIRST Digital Credit Card will be counted for calculation towards the statement milestone of Rs. 20,000 to earn 10 reward points on the Mayura Credit Card. However, the spends on the FIRST Digital Credit Card will earn only the above-mentioned reward points.
Rewards redemption
The reward points never expire. They remain valid till the card is active. The reward points earned on the IDFC FIRST Mayura Credit Card have a redemption value as follows.
- 1 reward point = Rs. 0.50 when redeemed for travel bookings (hotels and flights only) done through the Travel & Shop section on the IDFC FIRST Bank Mobile App.
- 1 reward point = Rs. 0.25 when redeemed anywhere else apart from the above.
For travel bookings, a maximum of up to 70% of the total transaction value can be paid by redeemed reward points. The remaining 30% amount must be paid through the Mayura Credit Card. A maximum of 1,50,000 reward points can be redeemed in a calendar month for making hotel or flight bookings through the ‘Travel & Shop’ section on the IDFC FIRST Bank Mobile App.
A maximum of 3,00,000 reward points can be redeemed in a calendar year for making hotel or flight bookings through the ‘Travel & Shop’ section on the IDFC FIRST Bank Mobile App.
A cardholder can earn up to 20% value back on travel bookings. Let us understand this with an example. Suppose a cardholder spends Rs. 6,000 on a travel booking through the ‘Travel & Shop’ section on the IDFC FIRST Mobile App. Assume the cardholder has already spent more than Rs. 20,000 on eligible categories in the statement cycle. In this case, the cardholder will earn points as follows.
| Booking type | Base reward points | Bonus reward points | Total reward points | Redemption value per point on travel | Value back |
|---|---|---|---|---|---|
| Flight booking | 400 | 1,200 | 1,600 | Rs. 0.50 | 13.3% |
| Hotel booking | 400 | 2,000 | 2,400 | Rs. 0.50 | 20% |
Air Miles/Hotel Points Conversion
Currently, the IDFC FIRST Bank Mayura Credit Card rewards program does not directly offer a transfer facility to a wide range of airline or hotel loyalty programs (Air Miles/Hotel Points). The best value is achieved by redeeming points for flights and hotels directly through the ‘Travel & Shop’ section on the IDFC FIRST Bank Mobile App at the higher value of Rs. 0.50 per point.
Example: Value for Domestic Flight (Approx.)
- Assumed Cost of Flight: Rs. 10,000
- Max Redemption using Points (70%): Rs. 7,000
- Reward Points Required: 14,000 points (at Rs. 0.50/point)
Additional features
Some other features of the IDFC FIRST Bank Mayura Credit Card include the following.
0 forex mark-up
The card has a 0% foreign exchange mark-up on international transactions. Most cards charge up to a 3.5% forex mark-up. The mark-up can increase costs significantly during a foreign trip. With the Mayura Credit Card, you can save on these mark-up charges as you will not pay any foreign exchange fees when you use the card for international purchases.
Airport lounge access
The card provides complimentary access to a domestic airport lounge/spa 4 times a quarter. It includes 1 complimentary access per quarter for an accompanying guest. The card provides complimentary access to an international airport lounge 4 times a quarter.
The cardholder must spend Rs. 20,000 in a calendar month to avail the airport lounge access benefit in the next month.
Railway lounge access
The card provides complimentary access to the railway lounge 4 times a quarter. The cardholder must spend Rs. 20,000 in a calendar month to unlock the complimentary access in the next month.
Free trip cancellation cover
The trip cancellation cover is a unique feature of the Mayura Credit Card. As per this feature, the cardholder can get reimbursed for non-refundable flight and hotel cancellations by up to Rs. 50,000, twice a year. The booking must have been done using the Mayura Credit Card. The booking cancellation must be done at least 24 hours before the scheduled date.
The coverage is Rs. 25,000 for flight bookings and Rs. 25,000 for hotel bookings. The cover applies to non-refundable bookings only. It does not apply to no-show flight/hotel stays.
Discount at The Postcard Hotels
A cardholder can get a flat Rs. 5,000 discount on a minimum Rs. 25,000 booking done using the Mayura Credit Card at one of The Postcard Hotels. The benefit can be availed of once every calendar quarter using the IDFCVIP promo code.
BOGO on movies
Movie fans can enjoy the Buy One, Get One free movie ticket offer twice in a calendar month. The maximum discount applicable is Rs. 500 on the second ticket. The offer is applicable on tickets booked on the District App.
Complimentary golf rounds
With the Mayura Credit Card, you can enjoy up to 24 complimentary golf rounds/lessons per year. The cardholder can avail of one complimentary golf round/lesson on spending Rs. 20,000 in a monthly statement cycle. Similarly, the cardholder can avail of two complimentary golf rounds/lessons on spending Rs. 40,000 in a monthly statement cycle.
Fuel surcharge waiver
The 1% fuel surcharge is waived at all fuel stations across India. The waiver is for fuel transactions between Rs. 200 and Rs. 5,000. The maximum waiver in a month is Rs. 300.
Airport & Railway Lounge Access and Insurance Benefits
- Airport Lounge Access (Domestic & International): You receive 4 complimentary visits per quarter to domestic airport lounges/spas and 4 complimentary visits per quarter to international airport lounges.
- Crucial Condition: Access is spend-linked, requiring a minimum spend of Rs. 20,000 in the preceding calendar month to unlock the benefit in the next month.
- Railway Lounge Access: Enjoy 4 complimentary visits per quarter at railway lounges, also requiring the Rs. 20,000 minimum monthly spend.
- Free Trip Cancellation Cover: A unique and highly valuable benefit, offering reimbursement for non-refundable flight and hotel cancellations up to Rs. 50,000, twice a year. This provides a substantial safety net for travel planning.
How to Apply
You can apply for the IDFC FIRST Bank Mayura Credit Card through the IDFC FIRST Bank website or mobile App. The website does not specify the eligibility criteria. You can check with the bank’s customer care before applying for it. The usual eligibility criteria for most credit cards include being an Indian citizen, aged between a specified range, and having a steady income source.
Optimal Use
The IDFC FIRST Mayura Credit Card is best for travel bookings (flights and hotels) through the IDFC FIRST Mobile App. You can get up to 60X reward points for these bookings. Also, if you have accumulated sufficient reward points, you can redeem them against flights and hotel bookings through the IDFC FIRST Bank Mobile App at a rate of Rs. 0.50/point.
The Mayura Credit Card gives reward points on spends like education, wallet loading, Government transactions, rent, utilities, insurance, etc. The reward rate on these spends is 1 to 3 reward points/Rs. 150 spent. The reward rate is low. However, it is still better, as most other credit cards don’t give any reward points on these transactions.
Eligibility & Documents
The card is targeted at High Net Worth Individuals and frequent travellers, hence the high-spend-linked benefits and premium fees.
| Criteria | Requirements (Typical) |
|---|---|
| Age | 21 to 65 years |
| Income Requirement | Indicative minimum Annual Income is often in the range of Rs. 25 Lakhs per annum (LPA) and above, though this is subject to the bank’s internal policy. |
| KYC Documents | Proof of Identity (Aadhaar/PAN/Passport), Proof of Address (Utility Bills/Aadhaar), and Proof of Income (Latest Salary Slips, Bank Statements, or Income Tax Returns for self-employed). |
Tips to Maximise Rewards
Hit the Monthly Threshold: Ensure your eligible monthly spends exceed Rs. 20,000 to unlock the 10X reward rate on incremental spends and, more importantly, to qualify for all complimentary lounge/golf benefits in the subsequent month.
Book Travel via the App: Always use the ‘Travel and Shop’ section on the IDFC FIRST Mobile App for flight and hotel bookings to achieve the super-accelerated 40X (flights) and 60X (hotels) reward rates.
Redeem for Travel: Maximise your point value by redeeming them exclusively for flights and hotels through the mobile app where you get Rs. 0.50 per point (double the value of generic redemption).
Use for International Spends: Leverage the 0% forex mark-up on all international purchases, effectively saving up to 3.5% right off the bat, making it a great card to carry abroad.
Utilise the Digital RuPay Card: Use the linked FIRST Digital RuPay Credit Card for UPI transactions to ensure these spends contribute toward the Rs. 20,000 monthly threshold for the 10X rewards and lounge access.
Expert Verdict/Conclusion
The Mayura Credit Card is a complete lifestyle credit card. It gives an excellent reward rate on travel bookings made through the IDFC FIRST Bank Mobile App. The card offers a higher redemption rate of Rs. 0.50/reward point for travel bookings through the IDFC FIRST Bank Mobile App.
The other notable features of the card include a zero forex mark-up, complimentary access to airport and railway lounges, golf rounds, BOGO offer on movies, etc. The free trip cancellation cover is a unique feature of this card. Thus, if you are a frequent traveller looking for a highly rewarding travel card with lifestyle benefits, you must consider the IDFC FIRST Bank Mayura Credit Card.
FAQs
1. Is the annual renewal fee waived?
No. The annual renewal fee of Rs. 5,999 + Taxes is mandatory. However, you can earn a reward points benefit (up to 15,000 points worth Rs. 7,500 on travel) by meeting the annual spending milestones of Rs. 15 lakhs.
2. Is the fuel surcharge waived?
Yes. You receive a 1% fuel surcharge waiver on transactions between Rs. 200 and Rs. 5,000, up to a maximum waiver of Rs. 300 per month.
3. How do I get complimentary lounge access?
To get complimentary domestic, international, or railway lounge access in a given month, you must have spent a minimum of Rs. 20,000 on your credit card in the preceding calendar month.
4. Are there any charges for the linked FIRST Digital RuPay Credit Card?
The FIRST Digital RuPay Credit Card allows for UPI transactions. While the UPI spends are counted towards the Rs. 20,000 monthly threshold for 10X rewards and lounge access, the reward rate on UPI transactions themselves is lower (1 RP for transactions up to Rs. 2,000, 3 RP for transactions above Rs. 2,000, per Rs. 150 spent).
5. How quickly is the welcome cashback credited?
The cashback will be credited within 7 days of completing the eligible transactions of Rs. 1,000 or above (up to 4 times) within the first 60 days of card generation.