IDFC FIRST Bank Ashva Metal Credit Card: ₹2,999 fee, 10X rewards, never-expiring points, 4 domestic + 2 international lounge visits, and low 1% forex fee. Compare with premium peers to see why it’s ideal for travelers! Learn more at IDFC FIRST Bank.
The IDFC FIRST Bank Ashva Metal Credit Card is a premium metal credit card launched in August 2024, designed for affluent customers who value luxury, travel benefits, and a prestigious card experience. Inspired by the regal horse (Ashva) from Indian folklore, symbolizing power and grace, this Visa Infinite card combines a sophisticated metal design with exclusive privileges like lounge access and low forex fees. With a joining fee of ₹2,999 + GST, it targets frequent travelers and lifestyle enthusiasts seeking a blend of tradition and modern convenience. Below is a detailed overview of its features, rewards, benefits, fees, charges, pros, and cons, based on information from IDFC FIRST Bank’s official website, CardInsider, Paisabazaar, and other reliable sources.
Overview
The Ashva Metal Credit Card is a semi-premium offering from IDFC FIRST Bank, crafted from 12-gram metal to reflect exclusivity and status. Powered by the Visa Infinite platform, it caters to high-net-worth individuals with a minimum annual income of ₹12,00,000. The card supports contactless payments (up to ₹5,000 without a PIN), UPI transactions via an add-on FIRST Digital RuPay Credit Card, and EMI conversion for purchases above ₹2,500. It’s ideal for frequent travelers, offering lounge access, low forex fees, and travel insurance, but its rewards program is modest compared to competitors. The card is available online via IDFC FIRST Bank’s website, with a transparent upfront joining fee to minimize wastage from cancellations.
Eligibility Criteria
- Age: 21–65 years for salaried or self-employed individuals.
- Income: Minimum annual income of ₹12,00,000 (₹1,00,000/month).
- Credit Score: A CIBIL score of 750+ with no defaults is recommended.
- Nationality: Indian resident with a permanent address in IDFC FIRST Bank’s serviceable cities.
- Documents: PAN card, Aadhaar card, address proof (e.g., utility bill, passport), income proof (salary slips, ITR, or bank statements), and a recent photograph.
- Note: Existing IDFC FIRST Bank cardholders share the same credit limit across cards, subject to internal policies.
Application Process
- Visit the IDFC FIRST Bank website (www.idfcfirstbank.com) or mobile app.
- Navigate to “Credit Cards” and select “Ashva Metal Credit Card.”
- Click “Apply Now,” enter details (name, date of birth, mobile number), and submit KYC documents.
- Complete video KYC or in-person verification.
- Pay the joining fee (₹2,999 + GST) upon approval to receive the digital card instantly; the physical card arrives within 7–10 days.
- Track status via the bank’s portal or customer care (1860-500-1111).
Rewards and Benefits
The Ashva Metal Credit Card offers never-expiring reward points (1 RP = ₹0.25) redeemable for flights, hotels, movie tickets, or vouchers via IDFC FIRST Bank’s Rewards Platform (idfcfirstrewards.poshvine.com). Cashback and rewards are tailored for travel and lifestyle, with spend-based perks. Key rewards and benefits include:
- Reward Points Structure:
- 10X Reward Points: On incremental spends above ₹20,000 per statement cycle and all birthday spends (6.66 RP/₹150 = 1.66% return).
- 5X Reward Points: On spends up to ₹20,000 per statement cycle (3.33 RP/₹150 = 0.83% return).
- 3X Reward Points: On rent, wallet loads, education, government services, and property management/purchase transactions (2 RP/₹150 = 0.50% return).
- 1X Reward Points: On utilities and insurance transactions (0.66 RP/₹150 = 0.16% return).
- Annual Milestone: 7,500 bonus points (worth ₹1,875) on ₹8,00,000 annual spends upon paying the annual fee.
- Exclusions: No points on fuel, EMI transactions, cash withdrawals, fees, charges, or transactions below ₹150. Transactions in 3X/1X categories don’t count toward the ₹20,000 threshold for 10X rewards.
- Redemption: Use “Pay with Points” for online/in-store purchases or redeem for vouchers. No redemption fee, but merchant settlement before statement generation is required for 10X rewards.
- Welcome Benefits:
- ₹2,000 cashback (₹500 per transaction) on 4 transactions of ₹500 or more within 60 days of card generation, credited in the next statement.
- 2,500 bonus reward points (worth ₹625) upon paying the joining fee (inaugural offer, subject to change).
- Airport Lounge Access (Spend-Based):
- 4 Domestic Lounge/Spa Visits per Quarter: At select airports/spas in India (16 annually).
- 2 International Lounge Visits per Quarter: At select overseas airports (8 annually).
- 4 Railway Lounge Visits per Quarter: At select Indian railway terminals (16 annually).
- Condition: Requires ₹20,000 spend in the previous calendar month for lounge access in the next month.
- Movie Discounts:
- Buy-One-Get-One (BOGO) offer on BookMyShow, up to ₹400 off on the second ticket, twice monthly (annual savings up to ₹9,600).
- Golf Privileges:
- Up to 2 complimentary golf rounds or lessons per month (1 per ₹20,000 spent in the previous month) at select courses.
- Travel Benefits:
- Low Forex Markup Fee: 1% + GST on international transactions, among the lowest in the market.
- Trip Cancellation Cover: Up to ₹25,000 annually (2 claims) for non-refundable flight/hotel cancellations.
- Travel Insurance: Includes $1,200 USD coverage (e.g., $500 for lost baggage, $300 for flight delays, $300 for lost passport/documents, $100 for delayed baggage).
- Insurance Covers:
- ₹1 crore air accident cover (accidental death).
- ₹10 lakh personal accident cover (death or permanent disability).
- ₹50,000 cover for lost card liability, counterfeit, skimming, phishing, or online fraud.
- Fuel Surcharge Waiver:
- 1% waiver on fuel transactions between ₹200 and ₹5,000, capped at ₹200 per statement cycle (no reward points on fuel).
- Hotel Discounts:
- ₹5,000 off on bookings of ₹25,000+ at The Postcard hotels/resorts (once per quarter, promo code: IDFCVIP).
- Stay 3 nights, pay for 2, or 50% off the 2nd night at Elivaas properties (Visa offer, subject to change).
- Roadside Assistance:
- 24/7 support for flat tires, battery issues, fuel delivery, lost keys, minor repairs, or towing via Global Assure.
- Visa Infinite Privileges:
- Airport meet-and-greet discounts at 450+ destinations, concierge services, limousine transfer discounts, and premium benefits at 900+ hotels worldwide.
- Contactless Payments:
- NFC-enabled for tap-to-pay transactions, enhancing speed and security.
Fees and Charges
The card has a mid-range fee structure with joining benefits offsetting the initial cost. Key fees and charges include:
- Joining Fee: ₹2,999 + GST (₹3,538.82 total).
- Annual/Renewal Fee: ₹2,999 + GST, applicable from the second year (no annual fee waiver mentioned).
- Finance Charges: 0.75%–3.65% per month (9%–43.8% APR), among the lowest in the market.
- Cash Advance Fee: ₹199 + GST per withdrawal.
- Foreign Currency Markup Fee: 1% + GST (approximately 1.18%), highly competitive.
- Reward Redemption Fee: ₹0 (no fee for point redemption).
- Late Payment Charges:
- ₹0 for dues up to ₹100.
- ₹100 for dues between ₹101 and ₹500.
- ₹400 for dues between ₹501 and ₹5,000.
- ₹600 for dues between ₹5,001 and ₹10,000.
- ₹800 for dues between ₹10,001 and ₹25,000.
- ₹950 for dues between ₹25,001 and ₹50,000.
- ₹1,100 for dues above ₹50,000.
- Third-Party Charges:
- 1% + GST (minimum ₹249) on rent and property management transactions.
- 1% + GST on utility spends above ₹20,000 per billing cycle, capped at ₹3,000.
- Card Replacement Fee: ₹199 + GST (unchanged for metal cards).
- Other Charges: GST (18%) applies on all fees and charges as per government regulations.
Pros
- Premium Metal Design: 12-gram metal card with a regal aesthetic inspired by Indian heritage, enhancing status and exclusivity.
- Low Forex Markup Fee: 1% + GST is highly competitive, ideal for international travelers.
- Extensive Lounge Access: Up to 16 domestic, 8 international, and 16 railway lounge visits annually (with ₹20,000 monthly spend), rare for a mid-range card.
- Never-Expiring Reward Points: Points remain valid as long as the card is active, offering redemption flexibility.
- Generous Welcome Benefits: ₹2,000 cashback and 2,500 bonus points (₹625) offset the ₹3,538.82 joining fee, reducing the effective first-year cost.
- Travel Protections: ₹25,000 trip cancellation cover, $1,200 USD travel insurance, and ₹1 crore air accident cover provide robust security.
- Movie and Golf Perks: BOGO movie tickets (up to ₹400, twice monthly) and up to 2 golf rounds/lessons monthly enhance lifestyle benefits.
- Low APR: Interest rates starting at 9% p.a. are among the lowest, beneficial for occasional balance carryovers.
- Visa Infinite Privileges: Concierge services, hotel benefits, and airport transfer discounts add premium value.
- Transparent Fee Structure: Upfront joining fee payment ensures clarity and minimizes wastage.
Cons
- Low Reward Value: Maximum 1.66% return (10X points above ₹20,000) is modest, with 1 RP = ₹0.25 lagging behind cards like Axis Atlas (higher redemption value).
- Spend-Based Benefits: Lounge access and golf privileges require ₹20,000 monthly spends, a hassle for inconsistent spenders.
- Reward Exclusions: No points on fuel, EMI, cash withdrawals, fees, or low-value transactions (<₹150), limiting earning potential.
- High Annual Fee: ₹2,999 + GST from the second year is steep for the reward rate, with no clear waiver criteria.
- High Income Requirement: ₹12,00,000 annual income excludes many potential applicants compared to IDFC FIRST Millennia (₹3,00,000).
- Limited Redemption Options: Points are redeemable for vouchers or travel, not statement credits, reducing flexibility compared to Flipkart Axis.
- Monthly Spend Tracking: Monitoring ₹20,000 monthly spends for lounge/golf benefits is inconvenient compared to annual spend criteria.
- No Instant Cashback: Points-based rewards require redemption, unlike direct cashback cards like SBI Cashback or Flipkart Axis.
- Recent Devaluations: IDFC FIRST Bank’s history of reward restrictions (e.g., insurance/utility exclusions on other cards) raises concerns about future benefit cuts.
Comparison of the IDFC FIRST Bank Ashva Metal Credit Card with its Peers
Below is a comparison table of the IDFC FIRST Bank Ashva Metal Credit Card with its peers in the premium, travel, and lifestyle-oriented credit card segment in India, tailored for affluent customers and frequent travelers. The peers selected are American Express Membership Rewards® Credit Card (MRCC), HDFC Bank Diners Club Black Credit Card, and Axis Bank Magnus Credit Card, as they are popular premium cards with comparable rewards, travel benefits, and fees. The table incorporates recent updates for the Ashva Credit Card, including details from IDFC FIRST Bank’s website and other sources, effective as of 2025. It compares key features such as fees, rewards, benefits, and eligibility to help you choose the best card.
| Feature | IDFC FIRST Bank Ashva Metal Credit Card | American Express Membership Rewards® Credit Card (MRCC) | HDFC Bank Diners Club Black Credit Card | Axis Bank Magnus Credit Card |
| Annual Fee | ₹2,999 + GST (waivable with ₹8 lakh annual spend for 7,500 RP worth ₹1,875) | ₹1,000 + GST (1st year); ₹4,500 + GST (2nd year onwards, waivable on ₹1.5 lakh annual spend) | ₹10,000 + GST (waivable on ₹5 lakh annual spend) | ₹12,500 + GST (waivable on ₹25 lakh annual spend) |
| Welcome Benefits | ₹2,000 cashback (₹500 on 4 transactions of ₹500+ within 60 days); 2,500 RP on joining fee payment | 4,000 Bonus MR Points on first transaction; 1,000 Bonus MR Points for 4 transactions of ₹1,000+/month | ₹25,000 worth Taj/Amazon voucher on ₹1.5 lakh spend within 90 days | 25,000 EDGE Points on ₹1 lakh spend within 30 days; 12-month Gyftr voucher |
| Reward Points/Cashback | 10X RP on spends > ₹20,000/month and birthday; 5X on spends up to ₹20,000; 3X on digital card spends ≥ ₹2,000; 1X on others (1 RP = ₹0.25); Never-expiring | 1 MR Point/₹50 spent (except fuel, insurance, utilities, cash, EMI); 2X–5X on select partners (Amazon, Flipkart); 1,000 Bonus MR Points for 4 transactions of ₹1,000+/month | 3.33% RP on all spends (1 RP = ₹0.75–₹1); 10X on travel/dining via SmartBuy (capped at 5,000 RP/month); Points expire after 3 years | 12 EDGE Points/₹200 on all spends; 5X on travel via TRAVEL EDGE (1 EP = ₹0.20–₹1); Points expire after 3 years |
| Reward Redemption | 1 RP = ₹0.25; Redeem via Poshvine portal, Amazon, Flipkart, etc.; ₹99 + GST fee | 1 MR Point = ₹0.25–₹1 (vouchers, travel, statement credit); Redeem via 18/24 Karat Gold Collection or Amex Travel Online; No fee | 1 RP = ₹0.75 (travel), ₹0.50 (vouchers), ₹0.25 (cash); Redeem via SmartBuy or net banking | 1 EP = ₹0.20 (statement credit), ₹0.45–₹1 (travel/vouchers); Redeem via EDGE Rewards portal |
| Travel Benefits | 4 domestic lounge/spa visits + 2 international lounge visits/quarter (₹20,000 monthly spend); 16 railway lounge visits/year; ₹25,000 trip cancellation cover; $1,200 travel insurance | None | Unlimited domestic/international lounge access; ₹5 lakh air accident cover; ₹50,000 travel insurance | 8 domestic + 8 international lounge visits/year; ₹50,000 trip cancellation cover; ₹5 crore air accident cover |
| Fuel Surcharge Waiver | 1% waiver (up to ₹400/month) on transactions between ₹200–₹5,000 | None | 1% waiver (up to ₹400/month) on transactions between ₹400–₹5,000 | 1% waiver (up to ₹500/month) on transactions between ₹400–₹5,000 |
| Movie/Dining Discounts | BOGO movie tickets up to ₹400 twice/month via BookMyShow; 20% off at 1,500+ restaurants | 15–20% off at select restaurants via Amex dining program | 2X RP on weekend dining; 15–20% off at premium restaurants via Dineout | 15% off at EazyDiner partner restaurants (up to ₹1,000/month) |
| Interest Rate (APR) | 9%–42% p.a. (0.75%–3.5% per month) | 42% p.a. (3.5% per month) | 23.88% p.a. (1.99% per month) | 52.86% p.a. (3.6% per month) |
| Cash Withdrawal | 2.5% fee (min ₹199) + interest-free up to 45 days | 3.5% fee (min ₹250) + 3.5% monthly interest from transaction date | 2.5% fee (min ₹500) + 1.99% monthly interest from transaction date | 2.5% fee (min ₹500) + 3.6% monthly interest from transaction date |
| Other Benefits | 2 complimentary golf rounds/lessons/month (₹20,000 monthly spend); ₹5,000 discount on Postcard Hotels (₹25,000 min booking) | Contactless payments; Limited liability for card loss | ₹2 lakh lost card liability cover; ₹55,000 purchase protection | Priority Pass membership; 25% off on movies via BookMyShow (up to ₹500/month) |
| Eligibility | Min. income: ₹12 lakh p.a. for new applicants; Age: 21–65; Good credit score (750+) | Min. income: ₹6 lakh p.a. (salaried), ₹9 lakh p.a. (self-employed); Age: 18–70; Good credit score | Min. income: ₹18 lakh p.a. (salaried); Age: 21–60; Good credit score | Min. income: ₹18 lakh p.a. (salaried); Age: 18–70; Good credit score |
| Foreign Currency Markup Fee | 1% + GST | 3.5% + GST | 1.99% + GST | 2% + GST |
Final Thought
The IDFC FIRST Bank Ashva Metal Credit Card is an attractive option for frequent travelers and status-conscious individuals who value its premium metal design, low 1% forex markup fee, and extensive lounge access (domestic, international, and railway). Its welcome benefits (₹2,000 cashback + 2,500 points) nearly offset the ₹2,999 + GST joining fee, and never-expiring reward points add flexibility. However, the modest 1.66% maximum reward rate, spend-based lounge/golf conditions, and high annual fee (₹2,999 + GST from year two) make it less competitive for reward-focused users compared to cards like Flipkart Axis (5% on Flipkart) or American Express MRCC (higher milestone bonuses). To maximize value, spend ₹20,000+ monthly to unlock lounge/golf perks, use for international transactions, and redeem points for high-value vouchers. Verify terms on the IDFC FIRST Bank website (www.idfcfirstbank.com) or contact customer care (1860-500-1111) before applying, as benefits may change.
With over 15 years of experience in Banking, investment banking, personal finance, or financial planning, Dkush has a knack for breaking down complex financial concepts into actionable, easy-to-understand advice. A MBA finance and a lifelong learner, Dkush is committed to helping readers achieve financial independence through smart budgeting, investing, and wealth-building strategies, Follow Dailyfinancial.in for practical tips and a roadmap to financial success!
