IDFC First Bank Mayura Credit Card
Gaurav
The Mayura Credit Card is a premium card from IDFC First Bank, created for those who want a more exclusive and rewarding experience. It is an upgraded version of the Ashva Card and has a stylish peacock design. Weighing 17 grams, it is designed to stand out and provide more value. It is perfect for people who travel often, as it gives access to both domestic and international airport lounges.
This card also comes with several benefits, including zero Forex charges for international transactions. Cardholders can earn up to 10X Reward Points when they spend ₹20,000 or more. In addition, the Mayura Credit Card offers rewards on various everyday expenses like rent, education, insurance, and utility bills, making it a great choice for those who want to get more from their spending.
Rewards and Benefits
Rewards Rate
Earn 10X reward points or ₹150 on spending over ₹20,000 per month. Get 5X reward points or ₹150 on spends up to ₹20,000. 3X reward points are also given for rent, wallet load, education, and government transactions.
Reward Redemption
You can redeem points for vouchers or cash against your statement, or use them to pay. 1 reward point equals ₹0.25.
Movie & Dining
Get one free movie ticket worth up to ₹500 when you buy one. You can use this offer twice a month.
Travel
Enjoy 4 free railway lounge visits every quarter.
Golf
Get 2 complimentary golf rounds or golf lessons every month.
Domestic Lounge Access
Enjoy 4 free visits every quarter, totaling 16 visits in a year, across the country.
International Lounge Access
Get 4 free international lounge visits every quarter, totaling 16 visits in a year.
Insurance Benefits
Enjoy purchase protection, travel insurance, free trip cancellation, and personal accident cover.
Fees & Charges
Interest Rates
0.75% to 3.65% monthly, 9% to 43.8% yearly
Spend-Based Waiver
N/A
Rewards Redemption Fee
₹99 + GST
Cash Advance Charges
Rs. 199
Foreign Currency Markup
0.00% +GST
Fuel Surcharge
Get a 1% fuel surcharge waiver on transactions between Rs. 200 and Rs. 5,000, up to a maximum of Rs. 500 per month.
What should you consider before applying for a credit card in India?
Before applying for a credit card in India, consider the following factors:
- Eligibility Criteria: Check the age, income, credit score, and employment status requirements set by the bank or financial institution.
- Credit Score: A higher credit score increases your chances of approval and may result in better offers. Ensure your credit score is in good standing.
- Interest Rates and Fees: Compare annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction fees. These can vary significantly between cards.
- Rewards and Benefits: Look for cards that offer rewards, cashback, discounts, or other perks that align with your spending habits.
- Credit Limit: Make sure the credit limit offered is in line with your financial needs. Avoid over-borrowing, which can lead to high-interest charges.
- Repayment Terms: Understand the repayment options, minimum payment amount, and due dates. Consider how easily you can manage timely payments to avoid interest accumulation.
- Card Type and Features: Choose a card type (e.g., standard, premium, travel, etc.) based on your requirements. Some cards offer more benefits for specific categories like travel, shopping, or dining.
- Bank’s Reputation: Opt for a bank with a good track record of customer service and transparency. Read reviews and consider their customer support accessibility.
- Hidden Charges: Be aware of any hidden fees, such as annual fees, balance transfer charges, and cash withdrawal fees.
- Credit Utilization: Ensure you can manage your spending within the credit limit to maintain a healthy credit utilization ratio, which impacts your credit score.
- Long-Term Financial Plans: Think about how the credit card will fit into your long-term financial goals and avoid accumulating unnecessary debt.
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