 "Zero forex fee, movie perks: Benefits of IDFC First Bank Mayura credit card")
IDFC First Bank launched the Mayura Credit Card on Thursday, adding a new option to its premium metal card range. The card is designed for those looking for both style and benefits, with a focus on rewards and travel perks, according to the bank.
The Mayura Credit Card offers several features, including:
Zero forex mark-up: No foreign exchange mark-up on transactions in foreign currency.
Higher rewards: 10X rewards points for spends above Rs 20,000 in a statement cycle and on your birthday.
Airport lounge perks: Four domestic lounge or spa visits per quarter, including one guest visit, and four international lounge visits per quarter.
Trip cancellation cover: Compensation for non-refundable portions of flight and hotel cancellations, up to Rs 50,000 annually.
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Movie perks: A buy-one-get-one offer on movie tickets with up to Rs 500 off on the second ticket, twice a month via BookMyShow.
Golf privileges: Up to 40 golf rounds or lessons per year.
A survey conducted by IDFC First Bank revealed that customers are increasingly opting for metal cards for a more chic and exclusive payment experience. The bank aims to meet this demand with the launch of the Mayura Credit Card.
"Our vision with the metal card series was to offer customers not only one super rewarding proposition but also an aesthetically designed metal card which showcases and celebrates the timeless heritage of India,” said Shirish Bhandari, Head of Credit Cards, FASTag, and Loyalty. He added, “The Mayura Card, with its inspired design, is tailored for the discerning and global Indian with zero forex benefits in addition to every other benefit concerning travel and lifestyle."
How much does the Mayura card cost?
The Mayura Credit Card is available to eligible customers with:
Joining fees: Rs 5,999 (plus GST)
Annual fees: Rs 5,999 (plus GST)
Who eligible for it Mayura credit card?
Occupation: Salaried or self-employed
Minimum annual income: Rs 25 lakh or above
How does the reward system work?
Cardholders can earn reward points on their spending, broken down as follows:
— 10X reward points for spends above Rs 20,000 in a statement cycle and on your birthday.
— 5X reward points on spends up to Rs 20,000 in a statement cycle.
— 3X reward points on transactions related to education, wallet load, government payments, rent, and property management or purchase.
— 1X reward point for utilities and insurance transactions.
Each reward point is valued at Rs 0.25, and cardholders will not earn reward points on EMI conversions, cash withdrawals, fuel transactions, or fees and charges. The reward points do not expire, provided the credit card remains active.
Are there exclusions to the reward points?
Some exclusions apply for earning 10X rewards. Transactions related to education, wallet load, government payments, rent, utilities, and insurance will not be considered. Also, any transaction settled after the statement generation will not qualify for 10X rewards in that cycle but will be credited in the following cycle.
Credit limit
For first-time IDFC First Bank credit card applicants, the credit limit will be determined based on internal policies. If you already have an IDFC First Bank unsecured credit card, your credit limit for the new Mayura card will be shared across all your unsecured cards.