IDFC First Bank on Thursday launched the Mayura credit card, adding a new option to its range of premium metal cards. The card is designed for those seeking style and benefits, with a focus on rewards and travel perks, according to the bank.
The Mayura credit card offers several advantages, including:
Zero Forex Margin: There is no exchange surcharge on foreign currency transactions.
Greater rewards:Earn 10x reward points on spending above Rs 20,000 in a statement cycle and on your birthday.
Benefits of airport lounges:Four visits to domestic salons or spas per quarter, including one guest visit, and four visits to international salons per quarter.
Trip cancellation coverage: Compensation for non-refundable portions of flight and hotel cancellations, up to Rs 50,000 per annum.
Benefits of the film: 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 rounds or golf lessons per year.
A survey conducted by IDFC First Bank revealed that customers are increasingly opting for metal cards for a more elegant 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 just a super rewarding proposition but also a metal card with an aesthetic design that showcases and celebrates India’s timeless heritage,” said Shirish Bhandari, Head – Credit Cards, FASTag & Loyalty. He added, “The Mayura card, with its inspired design, is designed for the discerning and global Indian, with zero-currency benefits, in addition to all other travel and lifestyle-related benefits.”
How much does the Mayura card cost?
Mayura credit card is available for eligible customers with:
Registration fees: Rs 5,999 (plus GST)
Annual fees: Rs 5,999 (plus GST)
Who is eligible for Mayura credit card?
Occupation: Salaried or self-employed
Minimum annual income:25 lakh rupees or more
How does the rewards system work?
Cardholders can earn rewards points for their spending, broken down as follows:
— 10x reward points on spending above Rs 20,000 in a statement cycle and on your birthday.
— 5X reward points on spending up to Rs 20,000 in a statement cycle.
— 3X reward points on transactions related to education, wallet loading, government payments, rental and property management or purchase.
— 1 reward point for utility and insurance transactions.
Each reward point is worth Rs 0.25 and cardholders will not earn reward points on EMI conversions, cash withdrawals, fuel transactions or fees and charges. Reward points do not expire, as long as the credit card remains active.
Are there any exclusions for reward points?
Some exclusions apply to earning 10X rewards. Transactions related to education, wallet top-up, government payments, rent, utilities, and insurance will not be considered. Also, any transaction settled after the statement is generated will not qualify for 10X rewards in that cycle but will be credited in the next cycle.
Credit limit
For first-time IDFC First Bank credit card applicants, the credit limit will be determined as per 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.
First published: September 20, 2024 | 12:09 pm IS
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