The verdict
One of the most cost-effective metal cards in India. The upgraded 0% zero forex markup, combined with protected international reward earning and 16 airport lounge visits, provides exceptional luxury value at half the annual fee of top-tier metal cards.
Spending ₹4,00,000 abroad saves ₹14,000 in forex markup fees (0% vs standard 3.5%) while earning 10,000 reward points (worth ₹2,500). Combined with 16 airport lounge visits (worth ~₹16,000) and domestic retail spends, total annual benefits exceed ₹32,500 against the ₹2,999 fee (over 10× return).
For users spending under ₹15,000 monthly who never travel outside India, lifetime free cards like IDFC WOW offer better no-cost convenience.
✓What works
- +0% Zero Foreign Currency Markup on international POS and online payments (effective 9 Sep 2026).
- +Full ongoing reward points on international transactions: combines 0% forex markup with up to 10X reward points overseas.
- +16 complimentary airport lounge visits annually (8 domestic + 8 international).
- +10X Reward Points (2.5% effective return) on incremental monthly spends above ₹20,000.
- +Reward points never expire and redeem easily at 1 point = ₹0.25 on flights, hotels, and vouchers.
- +Complimentary golf lessons, roadside assistance, and movie ticket discounts on BookMyShow.
✕What doesn't
- −Annual fee of ₹2,999 + GST with no automatic spend-based waiver.
- −Base spend below ₹20,000/month earns 0.5% (3 points per ₹150).
- −Minimum annual income eligibility of ₹8 Lakhs.
What it earns
1 Reward Point = ₹0.25 (Never expiring). 10X acceleration activates above ₹20k monthly spend. International spends continue earning rewards.
| Category | Rate | Monthly Cap | Per ₹1L spent |
|---|---|---|---|
| Monthly Spends Above ₹20,000 (10X Rewards) | 2.5% (10X Points) | Uncapped | 10,000 Points (₹2,500 value) |
| Base Spends Up To ₹20,000 / month | 0.5%–0.75% (3 Points / ₹150) | Uncapped | 2,000 Points (₹500 value) |
| Fuel & Cash Advances | 0% | Excluded | 0 Points |
Accelerated earn
10X Rewards Above ₹20,000 Monthly Spend
Never-expiring accelerated points on all retail purchases exceeding ₹20k per month.
| Category / Channel | Multiplier Rate | Monthly Cap | Cap / Condition |
|---|---|---|---|
| Spends Above ₹20,000 / month10X points on all incremental retail spending. | 3.33× · 2.5% (10X) | Uncapped | — |
| Birthday Spends10X rewards on all transactions on your birthday. | 3.33× · 2.5% (10X) | Birthday cycle | — |
Redemption options
Redeem directly on IDFC FIRST rewards portal for flights, hotels, vouchers, or statement credit.
| Redemption Channel | Value Per Point | Minimum | Ceiling / Limits | Fee |
|---|---|---|---|---|
| Flight & Hotel BookingsBEST VALUE | 1 Point = ₹0.25 | 1 point | No ceiling | ₹99 + GST |
| Brand Gift Vouchers (Amazon / Flipkart)BEST VALUE | 1 Point = ₹0.25 | 1 point | No ceiling | ₹99 + GST |
Airmiles & Hotel Loyalty Transfer Partners
1 PartnersTransfer your IDFC First Reward Points directly to global airline and hotel loyalty programs. Net realized value reflects actual flight and stay redemptions benchmarked against official transfer ratios.
Points never expire and redeem at ₹0.25/pt on flights and hotels.
| Loyalty Program | Ratio | Net Realized Value | Speed & Min | Action |
|---|---|---|---|---|
Air India Maharaja Club airline•Star Alliance | 2 Pts : 1 Maharaja Points | ₹0.30 – ₹0.45per bank pt | 3 - 7 days Min: 500 pts | Deep Dive → |
Reward Scope: Inclusions & Exclusions
✓Eligible Spends (Inclusions)
- +International cross-border transactions at 0% zero forex markup with active reward earning.
- +Domestic retail shopping, flight bookings, and dining.
- +Golf lessons and airport lounges.
✕Excluded Spends & Fee Traps
- −Fuel purchases (covered by 1% fuel surcharge waiver on ₹200 to ₹5,000).
- −Wallet loading and cash advances.
Fee Schedule & Waiver Criteria
| Fee Component | Amount / Rate |
|---|---|
| Joining Fee | ₹2,999 + GST |
| Annual / Renewal Fee | ₹2,999 + GST |
| Foreign Currency Markup | 0% (Zero Forex Markup on all international transactions) |
| Finance Charges (Monthly) | 0.75% to 2.99% per month (9% to 35.88% APR) |
| Add-On Card Fee | Nil |
| Card Replacement Fee | ₹100 + GST |
Eligibility & Approval Criteria
| Criteria | Requirement |
|---|---|
| Minimum Age | 21 to 65 years |
| Minimum Income | ₹8,00,000 per annum (Salaried or Self-Employed) |
| Residency | Resident Indian citizen |
Policy Changes & Devaluation History
1 RecordIDFC FIRST Bank Confirms 0% Forex Markup AND Continuous Reward Points on All Cards (13 Sep Reversal)
IDFC FIRST Bank has confirmed 0% zero forex markup across its entire credit card portfolio (Classic, Millennia, Select, Wealth, SWYP, WOW). Following customer feedback on its initial 9 September announcement, the bank issued an official communication on 13 September 2026 reversing the proposed rewards sunset: reward points will CONTINUE to be earned on international transactions across all card variants.
Frequently Asked Questions
Does IDFC FIRST Ashva Metal Credit Card offer airport lounge access?
What are the MITC charges, annual fees, and interest rates for IDFC FIRST Ashva Metal Credit Card?
What is the reward rate and point redemption value on IDFC FIRST Ashva Metal Credit Card?
Which transactions are excluded from earning rewards on IDFC FIRST Ashva Metal Credit Card?
Who is IDFC FIRST Ashva Metal Credit Card best suited for in 2026?
Editorial Deep-Dive Analysis
Comprehensive Overview: IDFC FIRST Ashva Metal Credit Card
The IDFC FIRST Ashva Metal Credit Card is a premium metal credit card positioned to bridge the gap between entry-level cards and ultra-luxury private banking products. Issued on the Visa platform, the card carries an annual fee of ₹2,999 + GST. Its core market value centers on 0% foreign currency markup, an allocation of 16 airport lounge visits per year across domestic and international terminals, active international reward earning, and accelerated retail rewards on monthly spending.
Key Privileges and Practical Everyday Benefits
- Zero Foreign Exchange Markup with Ongoing Rewards:
- International retail transactions incur 0% foreign currency markup (effective 9 September 2026), removing standard 3.5% cross-border fees.
- Cardholders earn full regular and accelerated reward points on overseas spending alongside permanent 0% forex markup, re-confirmed via IDFC FIRST Bank’s 13 September 2026 circular.
- Airport Lounge and Travel Connectivity:
- Domestic and International Lounges: Includes 8 complimentary domestic and 8 complimentary international airport lounge visits per calendar year (structured as 2 visits per quarter per category).
- Railway Lounge Access: Complimentary access to executive railway lounges across Indian terminals (up to 4 visits per quarter upon meeting monthly spend criteria).
- Comprehensive travel insurance coverage, including trip cancellation, baggage loss, and air accidental death cover up to ₹1 Crore.
- Structured Reward System:
- Incremental Spends (10X): Spending in excess of ₹20,000 within a single billing cycle earns 10 reward points per ₹150 (approximately 2.5% effective return).
- Birthday Accrual: All eligible transactions conducted on the cardholder’s birthday earn 10X points uncapped.
- Base Spends: Base domestic retail purchases up to ₹20,000 monthly earn 3 reward points per ₹150 (0.50% to 0.75% value).
- No Expiry: Reward points never expire and can be redeemed for flight and hotel bookings, brand gift cards, or statement credit without loss of value.
- Golf and Lifestyle Privileges:
- Complimentary golf rounds and lessons across participating premier golf destinations in India.
- Movie ticket discounts on BookMyShow (up to ₹250 per month on minimum purchase of two tickets).
- 24/7 Roadside Assistance (RSA) and dining privileges under the bank’s culinary tie-ups.
Important Terms and Spend Conditions to Keep in Mind
Cardholders should note specific cost and threshold constraints:
- No Automatic Spend Waiver: The annual renewal fee of ₹2,999 + GST is not linked to an automatic statutory spend-based waiver mechanism.
- Quarterly Lounge Distribution: Airport lounge privileges are capped at 2 domestic and 2 international visits per calendar quarter rather than available in an unconstrained annual pool.
- Base Reward Threshold: Spends under ₹20,000 per month generate modest baseline returns (0.50%); the card delivers peak financial efficiency only when monthly spending routinely crosses the ₹20,000 threshold.
- Redemption Processing Charge: Online reward redemptions for merchandise or travel vouchers incur a nominal ₹99 + GST handling fee per redemption request.
- Financing Charges: Carried balances incur APR between 9% and 35.88% per annum depending on individual repayment history.
Who Benefits Most
- Frequent International Travelers: Globetrotters who regularly shop in foreign currencies, book overseas accommodations, and want zero forex markup combined with continued reward points accrual.
- Regular Flyers: Commuters who value a structured combination of 8 domestic and 8 international airport lounge visits annually.
- Consistent Mid-to-High Spenders: Cardholders who reliably spend above ₹20,000 monthly to trigger the 10X reward tier.
- Metal Card Enthusiasts: Individuals seeking physical metal card craftsmanship with substantial travel utility at a fraction of ultra-premium card fees.
Independent Editorial & Statutory Disclaimers
Institutional Transparency & Nominative Fair Use Statement
CredSutra operates as an independent credit card discovery and consumer intelligence engine. CredSutra is NOT a bank, Non-Banking Financial Company (NBFC), Direct Selling Agent (DSA), or Lending Service Provider (LSP).