IDFC FIRST Ashva Credit Card: A Premium Card for Frequent Travelers
- Pratibha Sharma
- Aug 21
- 7 min read
In today's blog, we will provide you with information about the IDFC FIRST Ashva Credit Card, specifically its welcome benefits, cashback rate, and more. For more information, read below: The IDFC FIRST Ashva Credit Card is a premium offering designed for individuals who value both lifestyle benefits and financial rewards. The word Ashva means horse in Sanskrit, symbolizing strength, speed, and elegance, qualities that the card aims to reflect in its design and features.
One of the first things that makes this card stand out is its metal body, which gives it a premium and durable feel. It comes with travel, lifestyle, and reward privileges that make it suitable for frequent travelers as well as those who want everyday value. From a benefits perspective, the card provides lounge access at airports, both domestic and international, along with a low foreign currency markup fee of 1%, making it cost-effective for international spending. It also offers a structured reward points system, where users can earn higher points on large spends, birthdays, and certain categories. These points never expire, and they can be redeemed for travel, shopping, or other expenses.
New Feature for Users:
Banks and fintech issuers in India have begun offering dual‑network credit card solutions, a setup that pairs an international network (Visa or Mastercard) with a domestic UPI-enabled network (RuPay). This means you get broad global acceptance via Visa/Mastercard and seamless QR-based payments in India through RuPay, all under a single credit limit and monthly statement. Crucially, this is not a mandate from the RBI but a product-driven innovation by banks responding to newer RBI guidelines that promote customer choice of network.
On March 6, 2024, RBI directed that credit card issuers must offer customers the option to choose their card network—Visa, Mastercard, RuPay, etc., at the time of issuance or renewal. Banks can no longer enter exclusive agreements that restrict networks. However, RBI did not require banks to issue dual‑network cards; these are strategic offerings created by the banks themselves.
Launch Dates & Examples
Bank / Issuer | Launch Date | Product Highlight |
Scapia (Fintech) + Federal Bank | June 12, 2025 | Offers a dual‑network card pairing Visa (physical/international) with RuPay (digital/UPI), under one account and statement. |
IDFC FIRST Bank – IndiGo Co-branded Credit Card | August 18, 2025 | Launch of the IndiGo IDFC FIRST Credit Card: you receive both Mastercard and RuPay cards, issued together but linked under one credit limit, ideal for global and UPI use. |
How This Benefits Users
Global + Domestic Convenience
Use Mastercard or Visa for seamless international acceptance.
Use RuPay for UPI payments at 60 million+ merchants across India, just scan and pay.
Single Credit Limit / Statement
No juggling between cards. One limit, one due date, one statement.
Travel and Rewards
Products like the IndiGo card offer low forex markup, loyalty rewards (BluChips), and travel benefits via FD-backed fee waiver.
Cost Efficiency
Avoid FX markup through RuPay when paying domestically, and benefit from travel insurance/lounges via the international card.
Simplicity and Modern Experience
Scan QR codes for payments, no swiping terminals required. RuPay UPI integration ensures frictionless digital payments.
How to Use the Feature
Get Your Credit Card
You may have a Visa/Mastercard physical card (e.g., HDFC, SBI, Axis, ICICI, IDFC, etc.).
Activate Digital RuPay Add-On
In your bank’s mobile app, choose “Get Digital RuPay Credit Card”.
A RuPay companion card is issued, linked to the same limit as your main card.
Link to UPI
Open any UPI app (GPay, PhonePe, Paytm, BHIM).
Add the RuPay Credit Card → verify with OTP.
Make Payments
Scan any merchant QR in India or abroad → choose the RuPay credit card option → amount gets billed to your credit card statement.
No swipe machine needed.
Use Cases Outside India
Debit/Credit via International Network: Mastercard/Visa card works globally—accepted at ATMs, POS, e-commerce portals, and for international travel.
UPI via RuPay Component: Primarily used for payments inside India via UPI. Abroad, UPI (including RuPay) is available in select countries, for instance, QR acceptance in places like France (Eiffel Tower), UAE, Singapore, via UPI Global rollout, depending on app support (GPay, PhonePe, etc.). But this depends on the destination merchant infrastructure and bank support.
Conclusion: Dual-network cards give you full coverage within India (cashless UPI + international card), and global reach via Mastercard/Visa abroad, efficient, consolidated, and traveler-friendly.
What Are The Welcome Benefits of the IDFC FIRST Ashva Credit Card?
Welcome benefits: For every transaction above INR 500, users will receive INR 500 as cashback, up to a maximum of four times. This is valid for the first 60 days after the virtual credit card is generated. Users can get a bonus of 5,000 reward points (worth INR 1,250) for cards generated on or before 30th November 2024.
What Are The Milestone Benefits of the IDFC FIRST Ashva Credit Card?
Milestone benefit:Users will get 10X reward points on incremental spending above INR 20,000 in a monthly statement cycle. Users can also unlock a golf round/lesson per month on spending INR 20,000 and INR 40,000, respectively in the previous statement cycle.
What Is The Cashback Rate of the IDFC FIRST Ashva Credit Card?
1 reward point = INR 0.25.
Users will earn 5 reward points per INR 150 spent on all categories, excluding 1X and 3X categories mentioned below.
General Cashback Rate: 0.83%.
Users will earn 1X reward points for spending on insurance premiums and utility bill payments.
Insurnce+ Cashback Rate: 0.16%.
Users will earn 3X reward points for spending on rental & property management, government services, education and wallet load transactions.
Government+ Cashback Rate: 0.50%.
Users will get 10X reward points on incremental spending above INR 20,000 in a monthly statement cycle.
Special cashback rate: 1.67%
In case the cardholders elect to book hotels and flights using IDFC Mobile app, the value of 1 point will be considered INR 0.40 in place of INR 0.25.
Movie Benefits
Users can avail a Buy One Get One Free offer on movie tickets on BookMyShow with up to INR 400 off on the second ticket. This benefit can be availed twice in a calendar month.
Dining Benefits
None.
Other Benefits
Users have the option of "Cancel For Any Reason" cover, by which users can cancel flight and hotel bookings and avail a reimbursement of up to INR 25,000 twice a year.
Users can also unlock a golf round/lesson per month on spending INR 20,000 and INR 40,000, respectively in the previous statement cycle.
Users will enjoy discounts on the Airport Fast-track immigration service at over 450 destinations worldwide.
Users will get discounts on airport transfer limousine services across in over 3000 cities in 83 countries.
Complimentary roadside assistance worth INR 1,399.
Users will get a comprehensive travel insurance cover of up to USD 1200.
Lounge Access
Users will get access to domestic and international airport lounges 4 times in India and 2 times abroad every quarter.
Fees And Charges
Joining fees: Rs. 2999 plus taxes.
Annual fees: Rs. 2999 plus taxes.
Cash advance fees: Rs. 199
Late payment fees: Rs. 100 to Rs. 1300.
Interest fees: 3.99% monthly, 47.88% annually.
Special Features
Travel insurance coverage.
Low International Forex charges.
Eligibility Criteria
Not specified by the bank.
What Are The Pros And Cons Of Having an IDFC FIRST Ashva Credit Card?
Premium Metal Design
The card is made of metal, giving it a durable and luxurious feel.
Generous Rewards System
10X reward points on monthly spends above INR 20,000 and on birthdays.
5X points on other regular spends up to INR 20,000.
Points never expire and can be redeemed for travel, shopping, and more.
Low Forex Markup
Only 1% foreign currency markup, which is among the lowest in India—very useful for international travellers.
Airport Lounge Access
4 complimentary domestic airport lounge and spa visits per quarter.
2 complimentary international lounge visits per quarter (on minimum monthly spend of INR 20,000).
Welcome & Milestone Benefits
Welcome cashback of INR 500 per transaction on the first four spends (INR 500+ each).
Annual milestone reward: 7,500 bonus points (INR 3,000) on spends of INR 8 lakh in a year.
Lifestyle Privileges
Complimentary golf rounds/lessons each month.
Buy-one-get-one-free on movie tickets (up to INR 400 discount, twice a month).
1% fuel surcharge waiver (up to INR 300 per month).
Travel and Safety Insurance
Trip cancellation cover (up to INR 25,000, twice a year).
Comprehensive travel insurance (lost baggage, missed connection, etc.).
24/7 roadside assistance.
Cons:
High Annual Fee
INR 2,999 + GST (not waived off easily unless milestone spend is achieved).
Limited RuPay Acceptance Abroad
If issued on the RuPay network, it may face acceptance issues internationally, despite JCB tie-ups. Visa/Mastercard variants are more reliable overseas.
Reward Value is Moderate
Each reward point is worth only INR 0.25 (general redemption) or INR 0.40 (travel bookings). Effective cashback is lower compared to some cashback-focused cards.
Conclusion:
The IDFC FIRST Ashva Credit Card is not just about transactions; it is about adding value to the way you spend. Its elegant metal design sets it apart, but the real strength lies in the benefits it offers. From lounge access at airports to a very low forex markup, it is designed for frequent flyers. The reward structure is also attractive, with higher points on bigger spends and special days like birthdays, making sure users feel rewarded for the money they put through the card.
The welcome cashback and milestone bonuses give a good start and long-term benefit, while lifestyle features such as free golf sessions, buy-one-get-one movie offers, and fuel surcharge waivers add variety. On the protection side, the trip cancellation cover and travel insurance make the card more reliable for those who are often on the move.
However, it is also important to see the limitations. The annual fee is on the higher side and cannot be avoided unless you spend significantly. Rewards are less valuable when redeemed outside travel categories, and if you hold the RuPay version, acceptance outside India can be unpredictable. Categories like utilities and insurance also earn very low rewards, which reduces their usefulness for some cardholders.
If you want to know the unbiased AI score of all the Kotak Mahindra Bank Credit Cards, read their detailed review, click here
Comments