IDFC First Mayura Credit Card

About IDFC First Mayura Credit Card

Are you looking for a credit card that actually covers your back when travel plans fall through? The IDFC First Mayura Credit Card is designed for high-income individuals who want more than just points from their spending.

This premium Mastercard offering targets professionals and business owners with an annual income of ₹25 lakh or more. With a joining fee of ₹5,999, it positions itself as a luxury tool, but it quickly offsets that cost. In your first 60 days, you can get ₹4,000 back just by making four transactions of ₹1,000 each. It is a straightforward way to recover a massive chunk of your initial fee almost immediately.

Built for those who value security and travel flexibility, this card offers a unique "cancel for any reason" travel benefit worth up to ₹50,000. This is a rare feature in the Indian market, making it a powerful companion for those who book expensive flights and hotels but need a safety net. Whether you are managing a large business or a high-paced corporate career, this card simplifies the premium banking experience.

What sets it apart:

• ₹4,000 cashback as a welcome bonus, which is one of the most direct fee-recovery offers available today
• Unique travel insurance that reimburses up to ₹50,000 for non-refundable portions of cancelled flight and hotel bookings
• High-value roadside assistance worth ₹1,399, ensuring you are never stranded during your daily commute or road trips

Quick check: To qualify for the IDFC First Mayura, you must be between 21 and 60 years old with a minimum annual income of ₹25 lakh and a credit score of 720 or higher.

Let's break down why this card stands out in the crowded premium segment:

Key Benefits and Features of IDFC First Mayura Credit Card

The IDFC First Mayura Credit Card focuses on high-value reimbursements and travel security rather than just high-frequency small rewards. Here is a detailed look at what you get:

Generous Welcome Cashback

Unlike many cards that give you reward points which are hard to value, the Mayura card gives you cold, hard cash. You get ₹1,000 cashback on each of your first four transactions of ₹1,000 or more within the first 60 days. This total of ₹4,000 cashback effectively reduces your first-year cost to just ₹1,999 plus GST. This is an excellent way to start your relationship with the bank.

Unrivaled Travel Protection

The standout feature of this card is the travel reimbursement policy. If you have to cancel a trip, the card covers the non-refundable part of your flight and hotel bookings up to ₹50,000. You can make up to two such claims per year. If you frequently book luxury stays or last-minute flights, this benefit alone can save you the equivalent of 8 years' worth of annual fees in a single event.

Rewards Structure and Redemption

Every reward point you earn is worth ₹0.25. While the bank provides a dedicated portal at firstrewards.com for redemption, you should be aware of the exclusions. To keep your earnings high, remember that the following categories do not earn points:

• Fuel spends and EMI transactions
• Wallet loading and jewelry purchases
• Rental payments and Government services
• Insurance and Education services
• Utility spends (unless done via the Airtel Thanks platform)

Fuel and Roadside Perks

If you drive frequently, the 1% fuel surcharge waiver helps you save on every tank. This applies to transactions between ₹200 and ₹5,000, with a cap of ₹500 per month. Additionally, you get complimentary roadside assistance worth ₹1,399. This covers minor repairs, towing, or emergency fuel if you find yourself stuck on the road.

Fees, Income, and Eligibility

To access these features, you must meet the bank's premium eligibility criteria. Here is the financial breakdown:

• Joining Fee: ₹5,999 (Offset by ₹4,000 welcome cashback)
• Annual Fee: ₹5,999 (Spend-based waivers are discretionary and communicated closer to the renewal date)
• Minimum Income: ₹25 lakh per year for both salaried and self-employed individuals
• Credit Score: A CRIF score of 720 or above is required for a smooth application process

How to Apply for the IDFC First Mayura Credit Card

The application process is designed to be digital and efficient. Follow these steps to get started:

1. Visit the official IDFC First Bank website or use their mobile app to find the Mayura Credit Card page.
2. Ensure you meet the minimum income requirement of ₹25 lakh annually. This is a strict threshold for this specific variant.
3. Fill in your basic details like name, mobile number, and PAN card information.
4. Complete the digital KYC process, which usually involves a video call or an OTP-based Aadhaar verification.
5. Provide your employment details and income proof as requested by the bank.
6. Review the specific features and terms offered to you before the final submission.
7. Once approved, the physical card will be dispatched to your registered address. Ensure you make a transaction of at least ₹100 within the first 30 days to activate the rewards program.

Credit Limit: What to Expect

Credit limits for the IDFC First Mayura card are assigned based on your income, credit score, and existing banking relationship. Given the high income requirement of ₹25 LPA, applicants can generally expect a substantial limit that reflects their premium status. Limits typically range from ₹5,00,000 to ₹10,00,000 for applicants meeting the base eligibility criteria. Factors like your debt-to-income ratio and previous credit history with other lenders will play a major role in the final limit granted.

Comparison Table: IDFC First Mayura vs. Competitors

To understand the value of this card, we have compared it with other premium cards in the same price bracket.

While the IDFC First Mayura may not have the highest reward rate compared to the HDFC Diners Club Black, it wins hands down for travel security. If you are worried about losing money on non-refundable bookings, the Mayura card provides a safety net that other cards simply do not offer. However, for pure reward points on daily spending, the competitors might offer a slight edge.

Documents Required for IDFC First Mayura Application

You'll need to submit the following documents when applying:

For Salaried Applicants

• Identity Proof: PAN Card (mandatory), Aadhaar Card, Passport, or Voter ID
• Address Proof: Aadhaar Card, Utility Bills, or Rent Agreement
• Income Proof: Latest 3 months' salary slips and 6 months' bank statements showing salary credits
• Employment Proof: Office ID card

For Self-Employed Applicants

• Identity Proof: PAN Card (mandatory) and Aadhaar Card
• Address Proof: Aadhaar Card or Property Documents
• Income Proof: Latest 2 years' ITR with computation of income and 6 months' bank statements
• Business Proof: GST registration or Business registration certificate

Note: All documents should be clear and valid. The bank may request additional documents during the verification process if required.

Who Should Get This Card?

Should you get this card? Here is who benefits most from the IDFC First Mayura:

The High-Flying Professional: You earn ₹30 lakh a year and travel for work or leisure at least once a month. You often book flights and hotels well in advance. For you, the ₹50,000 cancellation cover is a massive relief. If a meeting gets moved or a family emergency arises, you aren't out of pocket for those non-refundable luxury hotel stays. This peace of mind is worth more than the ₹5,999 fee.

The Savvy Welcome-Bonus Hunter: You are looking for a card where the joining fee is transparently returned. By spending just ₹4,000 in specific chunks, you get ₹4,000 back. This makes the effective cost for the first year very low for a premium card. You get the prestige of a Mastercard premium variant without the heavy net cost in year one.

The Road-Trip Enthusiast: You prefer driving for weekend getaways. The combination of roadside assistance and fuel surcharge waivers makes this card a practical tool for your glovebox. You can expect to save around ₹1,400 just from the roadside assistance value if you ever face a breakdown.

You might want to skip this card if: You are looking for a card specifically for airport lounge access or high-value point transfers to airlines, as these features are not the primary focus of the Mayura variant.

BankKaro Expert Review

Based on the card's features, the IDFC First Mayura excels at providing a safety net for high-income travelers. Most premium cards focus on giving you "more" (more points, more lounges), but Mayura focuses on "protection." The ₹50,000 cancellation reimbursement is a sophisticated benefit that targets a real pain point for luxury travelers.

The biggest limitation is the high income entry barrier of ₹25 LPA. For this income bracket, many users might expect unlimited lounge access or high-end concierge services, which are notably absent from this card's benefits suite. Additionally, the reward points value of ₹0.25 is relatively standard and not groundbreaking for a premium card.

Our verdict: Choose this card if you are a high-income individual who wants the best travel cancellation insurance in the business and a very high welcome cashback. It is a solid, reliable premium card that pays for itself through its unique protection features rather than just transactional rewards.

Terms and Conditions

• The bank may offer a different card variant based on your eligibility. Please carefully read the features of the card offered before submitting your application.
• A minimum transaction of ₹100 within 30 days is required to activate the card, otherwise, you won't be eligible for the Rewards.
• Cashback and benefits are subject to timely payment of the minimum amount due on your card.
• For complete terms and conditions, please refer to the IDFC First Bank official website for the most current policy updates.