The cheaper of IDFC’s two metal cards. Low forex, real lounge access and Visa Infinite perks, but no transfer partners and a low point value.
This IDFC FIRST Ashva Credit Card, which is a mid-level version of the expensive Mayura card, comes with a metallic body, lounge access at airports and railways, Visa Infinite benefits, and just 1 percent foreign exchange mark-up fee, all wrapped within a membership fee of Rs 2,999. It is one of the most affordable metallic cards in India. However, it shares the same drawbacks as its sibling: the lack of tie-ups with any airline or hotel, poor base point value, and reward benefits that are unlocked based on spending per month. All of this is covered in this review using tables.
What the IDFC FIRST Ashva Credit Card Is
The IDFC FIRST Ashva Credit Card is an 12g metal card, on Visa Infinite platform, with theme of the horse or Ashva as a mark of vigor and proawess. It lies below the Mayura card in the paid hierarchy of IDFC FIRST Bank. Like the Mayura, the Ashva is a closed-loop rewards card where your points stay locked within the IDFC app and you redeem them through the app, without having to transfer them to airlines. It is targeted at frequent travelers looking for lounge access and low forex at a nominal cost.
Ashva vs Mayura, the Quick Difference:
If you are choosing between the two IDFC metal cards, here is the short version.
| Point | Ashva | Mayura |
|---|---|---|
| Joining and annual fee | Rs 2,999 | Rs 5,999 |
| Forex markup | 1 percent | 0 percent |
| Travel point value | Rs 0.40 | Rs 0.50 |
| International lounge a year | 8 visits | 16 visits |
| Metal card replacement | Rs 1,500 | Rs 3,500 |
| Income needed | About Rs 12 lakh | About Rs 25 lakh |
Also, Read About: IDFC FIRST Mayura Credit Card
Latest Changes You Should Know:
| Effective date | What changed |
|---|---|
| 18 June 2026 | Reward points are earned only on spends up to your credit limit per billing cycle, and the movie buy one get one now needs Rs 20,000 spend in the previous month |
| 2025 upgrade | Added 30X on hotels and 15X on flights via the app, with travel redemption value set at Rs 0.40 per point |
| 20 February 2025 | Fuel surcharge waiver cut from Rs 400 to Rs 300, lounge, spa and railway access tied to Rs 20,000 previous month spend, interest rate range revised to 8.5 to 46.2 percent a year |
Fees and Charges at a Glance:
| Charge | Amount |
|---|---|
| Joining fee | Rs 2,999 plus GST, paid upfront and non refundable |
| Annual fee | Rs 2,999 plus GST, no waiver available |
| Metal card replacement | Rs 1,500 plus GST |
| Add on card | Rs 2,000 joining and Rs 1,000 a year, reversed on Rs 1.2 lakh add on spend |
| Reward redemption fee | Rs 99 plus GST |
| Cash withdrawal fee | Rs 199 plus GST per withdrawal |
| Forex markup | 1 percent |
| Interest rate | 8.5 to 46.2 percent a year, based on profile |
What a Lost Metal Card Costs You:
There is one thing you need to know about carrying a metal card every day. If you manage to misplace or damage it, the replacement cost of the IDFC FIRST Ashva Credit Card will be Rs 1,500 plus GST. That is less than half the Rs 3,500 replacement charge on the Mayura, but it still remains much more than the Rs 199 that IDFC charges to replace any of its ordinary plastic cards. Take care of the card, since the replacement cost is more than half the annual fee.
How You Earn Reward Points:
The base unit is 1 reward point per Rs 150 spent, called 1X. The IDFC FIRST Ashva Credit Card scales the rate with your monthly spend, just like the Mayura.
| Spend type | Reward rate |
|---|---|
| Spends up to Rs 20,000 in a statement cycle | 5X, 5 points per Rs 150 |
| Incremental spends above Rs 20,000 in a cycle | 10X, 10 points per Rs 150 |
| Rent, wallet load, education, government | 3X, 3 points per Rs 150 |
| Insurance and utilities | 1X, 1 point per Rs 150 |
| EMI, cash, fuel, fees and charges | No points |
Acceleration on Hotels and Flights:
The best earning on the IDFC FIRST Ashva Credit Card comes from booking travel through the Travel and Shop section inside the IDFC app. These are bonus points on top of the base rate.
| Booking type | Bonus rate | Where |
|---|---|---|
| Hotel bookings | 30X reward points | Travel and Shop, app only |
| Flight bookings | 15X reward points | Travel and Shop, app only |
| Bonus points cap | 15,000 a month | Across app bookings |
Like the Mayura, this boost applies only within the app and not on airline or hotel websites. There is also a cap of 15,000 bonus points per month on this. There are some offers quoting much higher rate, so it is better to cross-check the current offer in the app before making a booking.
How You Redeem, and Why There Are No Transfer Partners:
This is perhaps the biggest constraint associated with the card. The IDFC FIRST Ashva Credit Card does not have any transfer partners among the airlines or hotels. While HSBC TravelOne card or Axis cards give you the freedom to transfer points in frequent flyer programs, IDFC keeps all your points locked in its own app. As such, your redemptions will remain limited to below.
| Redemption route | Value per point |
|---|---|
| Hotel and flight bookings via the app | Rs 0.40 |
| Gift vouchers, products, pay with points | Rs 0.25 |
| Transfer to airlines or hotels | Not available |
The points never expire, which removes any pressure to burn them, but the ceiling is Rs 0.40 a point and only on travel booked in the app.
Reward Rate in Plain Numbers:
| Scenario | At Rs 0.25 | At Rs 0.40 |
|---|---|---|
| 5X on regular spends | 0.83 percent | 1.33 percent |
| 10X on spends above Rs 20,000 | 1.66 percent | 2.66 percent |
| 3X on rent and similar | 0.50 percent | 0.80 percent |
So the realistic return runs from about 0.83 to 1.66 percent, touching 2.66 percent only when you push past Rs 20,000 a month and redeem for travel in the app. That is modest for a card costing Rs 2,999, so the IDFC FIRST Ashva Credit Card earns its keep through the perks more than the points.
Lounge, Spa and Railway Access:
| Access type | Per quarter | Per year |
|---|---|---|
| Domestic airport lounge and spa | 4 visits | 16 visits |
| International airport lounge | 2 visits | 8 visits |
| Railway lounge | 4 visits | 16 visits |
The downside of this IDFC credit card is the same one that runs throughout: You have to spend Rs 20,000 in the previous calendar month to access lounges, spas and railway lounges in the coming month. Be aware that while the international lounge benefits are 8 a year, it is only half of the Mayura’s 16.
Travel and Lifestyle Benefits:
| Benefit | Detail |
|---|---|
| Low forex markup | 1 percent on international spends |
| Trip cancellation cover | Up to Rs 25,000, twice a year, for any reason |
| Movie buy one get one | Up to Rs 400 off the second ticket, twice a month, up to Rs 9,600 a year, needs Rs 20,000 spend in the previous month |
| Golf | 2 rounds or lessons a month, 1 unlocked on Rs 20,000 spend, both on Rs 40,000 |
| Postcard Hotels | Flat Rs 5,000 off on a Rs 25,000 booking, once a quarter, code IDFCVIP |
| Visa Infinite hotels | 900 plus luxury hotels with upgrades, breakfast and late checkout |
| Airport meet and greet | One free a year on USD 1,000 international spend, else 10 percent off |
| Insurance | Air accident cover Rs 1 crore, travel cover up to USD 1,200, lost card liability Rs 50,000 |
The same gate ties several of these together. The lounge, spa, railway, golf and movie buy one get one all need Rs 20,000 spent in the previous calendar month to be usable the next month. Miss that spend and you lose these perks for the month.
Welcome and Renewal Benefits:
| Benefit | Detail |
|---|---|
| Welcome cashback | Rs 500 back on each of your first 4 transactions of Rs 500 or more within 60 days, up to Rs 2,000 |
| Bonus points on joining | 2,500 reward points on paying the joining fee |
| Bonus points on spend | 2,500 points each for spending over Rs 20,000 in the 2nd and 3rd statement cycles, up to 7,500 in total |
| Annual fee waiver | None |
The welcome cashback and bonus points together nearly cover the first year fee, which is why the IDFC FIRST Ashva Credit Card makes sense as a first year metal card. From year two there is no fee waiver, so judge it on the perks you will actually use.
Eligibility: IDFC FIRST Ashva Credit Card
- Minimum income of about Rs 12 lakh a year, lower than the Mayura’s Rs 25 lakh bar.
- Existing IDFC FIRST Bank cardholders are assessed on a profile check.
- Standard adult age range, Indian resident, with identity, address and income proof.
- The joining fee must be paid upfront before the metal card is dispatched.
Pros and Cons: IDFC FIRST Ashva Credit Card
| Pros | Cons |
|---|---|
| A metal card at a low Rs 2,999 fee, rare in this segment | No airline or hotel transfer partners, so points stay in the app |
| Low 1 percent forex markup, better than most 3.5 percent cards | Not zero forex, unlike the Mayura or the FIRST WOW |
| Reward points never expire | Low point value, Rs 0.25 generally and Rs 0.40 on app travel |
| Airport, spa and railway lounge access plus Visa Infinite hotels | Lounge, movie and golf perks are all spend gated |
| First year welcome nearly offsets the fee | Rs 2,999 fee with no waiver from year two |
| Cheaper metal replacement than the Mayura | June 2026 change caps reward earning to your credit limit each cycle |
How It Compares With Other Cards:
| Feature | IDFC Ashva | IDFC Mayura | HSBC TravelOne | Axis Horizon |
|---|---|---|---|---|
| Annual fee | Rs 2,999 | Rs 5,999 | Rs 4,999 | Rs 3,000 |
| Forex markup | 1 pct | 0 pct | 3.5 pct | 3.5 pct |
| Best point value | Rs 0.40 | Rs 0.50 | Re 1 plus | Re 1 plus |
| Transfer partners | None | None | 20 plus | 20 plus |
| Intl lounge a year | 8 | 16 | 8 | 8 |
| Metal replacement | Rs 1,500 | Rs 3,500 | NA | NA |
| Points expiry | Never | Never | About 3 years | About 3 years |
The pattern persists. IDFC FIRST Ashva Credit Card is the most affordable option to enter the league of metal card by IDFC Bank that includes lounge access and good forex rate, however, just like Mayura, it doesn’t provide a possibility of transferring points.
Who Should Get This Card:
- People who want a metal card with lounge access and low forex at the lowest possible fee.
- Frequent travellers who book hotels and flights through the IDFC app.
- Spenders who clear Rs 20,000 a month easily and will use the lounge, movie and golf perks.
- Anyone who wants a strong first year pickup and will reassess at renewal.
It is a weak fit if you want zero forex, airline transfers, high redemption value, or a fee waiver, since the IDFC FIRST Ashva Credit Card keeps points locked in its app and gates its perks behind monthly spends.
Our Rating Out of Five:
Considering the low annual fee, the 1 percent foreign exchange mark-up, lounge and Visa Infinite benefits against no transfer partners, a low points value and spend-dependent benefits, the IDFC FIRST Ashva Credit Card gets 3.5/5. For Rs 2,999, it gives you better first year value than the Mayura, yet is a lifestyle card than a miles one.
| Category | Score | Note |
|---|---|---|
| Value for fee | 4 / 5 | Metal, lounge and low forex at Rs 2,999 |
| Reward flexibility | 2 / 5 | No transfer partners, low value |
| Lounge and lifestyle | 4 / 5 | Broad access plus Visa Infinite |
| Forex and fees | 3.5 / 5 | 1 percent forex, no fee waiver |
| Overall | 3.5 / 5 | Cheapest IDFC metal, first year friendly |
Final Verdict
For most users, the IDFC FIRST Ashva Credit Card will make more sense among the two metal cards by IDFC, owing to the combination of lounges, Visa Infinite features and the low 1 percent foreign exchange mark-up, all at a fee which is just half of that of the Mayura.
But do keep in mind the restrictions: points are not transferable, the top value comes from the low Rs 0.40 per point for travel booked via app, the benefits require Rs 20,000 of spend per month and lost cards cost Rs 1,500 plus GST. If you want a metal card on a budget, it could be for you; if you want flexible airmiles, get a transfer card.
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