Ashva Credit Card Review: Metal Card, 10X Above ₹20,000, Zero Forex
Ashva is IDFC FIRST Bank's entry metal card at ₹2,999 + GST a year with no fee waiver, earning 5 points per ₹150 on the first ₹20,000 of each statement cycle and 10 points per ₹150 after that. Points are worth ₹0.40 on hotels and flights booked in the bank's app and ₹0.25 elsewhere, so the card pays off only for people who spend well past ₹20,000 a month. Forex markup is zero, and foreign spends still earn 2 points per ₹150.
Key facts
- Joining fee
- ₹2,999 + GST
- Annual fee
- ₹2,999 + GST. No fee waiver. Annual fee payment benefit: spend ₹8 lakh in the previous card anniversary year and get 7,500 Reward Points on paying the next annual fee.
- Base reward
- 5X Reward Points (5 points per ₹150) on eligible spends up to ₹20,000 in a... (about 0.833% value)
- Best category
- Hotel bookings via the IDFC FIRST Bank app: about 5% value
- Lounge
- Domestic: 4 complimentary Indian airport lounge visits every quarter; 4 complimentary railway lounge visits per quarter International: 2 complimentary global airport lounge visits every quarter (with the DreamFolks card)
- Forex markup
- 0% (no markup)
- Network
- Visa
Opens the bank's own page for this card. Approval and the credit limit are the bank's decision.
In short
A good fit for someone who puts ₹50,000 or more a month on one card and books travel in the IDFC FIRST app; below ₹20,000 a month the fee eats most of the value.
Best for
- People who spend ₹50,000 or more a month on a single card
- Travellers who want zero forex and still earn points abroad
- Anyone happy to redeem on hotels and flights in the bank's app at ₹0.40 a point
Skip it if
- Your card spend is usually under ₹20,000 a month
- You expect an annual fee waiver
- Most of your spend is rent, fuel or utility bills
Highlights
- ₹2,999 + GST joining and annual fee, no waiver
- 10 points per ₹150 (1.667% at ₹0.25) above ₹20,000 a cycle, no cap
- Zero forex markup since 9 September 2026
- 4 domestic, 2 international and 4 railway lounge visits a quarter after a ₹20,000 month
- Points never expire while the card is active
What the Ashva card is
Ashva is the cheaper of IDFC FIRST Bank's two open metal cards, a 12 g Visa Infinite card at ₹2,999 + GST a year. It sit between the bank's free cards and the ₹5,999 Mayura, and it is made for one kind of person: somebody who runs most of the household spending through a single card.
Three things decide whether it pays for itself. First the split earn rate, 5 points per ₹150 on the first ₹20,000 of a statement cycle and 10 points per ₹150 on everything above, with no cap. Second is where you redeem, because a point fetches ₹0.40 on hotels and flights booked in the bank's app and ₹0.25 everywhere else. Third is the ₹20,000 you must spend in a calendar month to get the lounges, golf and movie offer in the month after.
The card is active and open to new applicants. The full range is on our IDFC FIRST Bank credit cards page.
Changes from 2024 to 2026
- 1 September 2024: Minimum Amount Due on all IDFC FIRST cards became 2% of principal plus EMI, interest, fees and taxes.
- 1 July 2025: the movie offer moved from BookMyShow to District by Zomato.
- 1 September 2025: new cards get a joining fee benefit of up to 7,500 points.
- 18 June 2026: Buy 1 Get 1 needs ₹20,000 spent in the previous month, and points are earned only on spends up to your credit limit.
- 9 September 2026: forex markup went to zero, from the 1% in the bank's May 2026 notice.
- 26 October 2026: foreign spends fell from 5X to 2X per ₹150. Ashva are still one of seven cards the bank named as earning points abroad.
What Ashva costs you
The joining fee is ₹2,999 + GST and the annual fee from the second year is the same. GST at 18% adds ₹539.82 (18% of ₹2,999), so each payment is ₹3,538.82 (₹2,999 plus ₹539.82). The bank want the joining fee and its GST before it dispatch the metal card, and it is non-refundable.
There is no waiver at any spend. Instead there is a annual fee payment benefit: cross ₹8 lakh of spends in a card anniversary year and 7,500 points come when you pay the next fee. ₹8,00,000 over 12 months is about ₹66,667 a month, a big number for most salaried homes. Even then the points don't cancel the fee, they are worth ₹1,875 at ₹0.25 (7,500 times ₹0.25) or ₹3,000 at ₹0.40.
An add-on is ₹2,000 + GST in metal or ₹1,500 + GST in plastic, then ₹1,000 + GST a year. Replacing the metal card cost ₹1,500, and the FIRST Digital RuPay card for UPI is ₹199 + GST to join and yearly.
Interest, late fee and cash
Your interest rate is set by the bank between 0.71% and 3.85% a month (8.5% to 46.2% a year), and missing the Minimum Amount Due brings overdue interest of 3.99% a month, or 47.88% a year. The late fee is 15% of the previous statement's total due less what you paid before the due date, kept between ₹100 and ₹1,300; the MITC's example of a ₹5,000 due draws ₹750. Cash withdrawals cost ₹199 + GST each, with no interest for up to 45 days. Over-limit use needs your consent and is charged 2.5%, minimum ₹550.
Forex and category fees
The MITC shows nil markup on foreign currency and dynamic currency conversion. One Ashva FAQ still talks of 1% on ATM cash abroad, but the MITC and the 9 September 2026 notice say zero, so that is what we goes by. At the old 1%, ₹1,00,000 spent abroad cost ₹1,000 plus ₹180 GST (18% of ₹1,000).
- Rent and property management: 1%, minimum ₹249 per transaction.
- Utilities above ₹20,000, fuel above ₹30,000, railway above ₹25,000 and tolls above ₹10,000 in a cycle: 1% of that whole total.
- Education through third-party apps: 1%, minimum ₹249. Bounced payment: 2%, minimum ₹500.
No wallet-load fee appears in the charges listed. All of the above carries 18% GST.
Ashva: fees and charges
| Joining fee | ₹2,999 + GST |
|---|---|
| Annual or renewal fee | ₹2,999 + GST |
| Annual fee waiver | No fee waiver. Annual fee payment benefit: spend ₹8 lakh in the previous card anniversary year and get 7,500 Reward Points on paying the next annual fee. |
| Add-on card fee | ₹2,000 + GST |
| GST | Charged on top of the fees and charges listed |
| In the bank’s words | Joining fees ₹2,999 + GST, Annual Fee ₹2,999 + GST (2nd year onwards). Upfront payment of Joining Fee + GST required for dispatch of metal credit card; the fee is non-refundable. Add-on: Joining Fee (Metal Variant) ₹2,000 + GST, (Plastic Variant) ₹1,500 + GST, Annual Fee (Both Variants) ₹1,000 + GST per add-on card. Metal card replacement ₹1,500. |
| Interest on unpaid balances | Up to 3.85% a month (46.2% a year) |
| Late payment fee | 15% of the Total Amount Due as of the previous statement minus payments received before the due date, minimum ₹100 and maximum ₹1,300 (none if the amount due is below ₹100). Charged when the Minimum Amount Due is unpaid by the due date. |
| Cash withdrawal | ₹199 per cash withdrawal (plus GST). Card pages say ATM withdrawals carry no interest for up to 45 days (until the due date); after that, interest at the card's rate applies. |
| Over-limit fee | 2.5% of the over-limit amount, minimum ₹550 (over-limit only with the cardholder's explicit consent) |
| Forex markup | 0% (no markup) |
| Other fees |
|
How Ashva earns
Points are counted per ₹150, and the rate depends on what you already spent that statement cycle: 5 points up to ₹20,000, then 10. At ₹0.25 a point that is 0.833% and 1.667%; on app travel at ₹0.40, 5 points give ₹2 on ₹150 (1.333%) and 10 points give ₹4 (2.667%). Foreign spends get 2 points, rent, government, wallet and education 3, and FASTag, railways, insurance and utilities 1, which is ₹0.25 on ₹150 or about 0.167%. Fuel, EMI, cash, fees and anything below ₹150 earns nothing.
Foreign spends count towards the ₹20,000 line even at 2X, and so does UPI on the linked FIRST Digital RuPay card, which earn 3 points above ₹2,000. Rent, government, wallet and education are kept out of it.
The app is where this card become interesting. Hotels booked through Travel and Shop or FIRST Rewards Gallery get 30 bonus points per ₹150 over base, and flights 15. Thirty points on ₹150 is ₹7.50 at ₹0.25, so 5% extra, or ₹12 (8%) at ₹0.40. The bonus is capped at 15,000 points a calendar month, which hotels alone reach at ₹75,000 of bookings (15,000 divided by 30, times ₹150).
App hotels and flights value a point at ₹0.40 and points can pay up to 70% of a booking; vouchers, products and pay with points give ₹0.25. Every redemption carry ₹99 + GST, or ₹116.82 (₹99 plus 18%), so redeem in big lots. Points never expire while the card is active, though a cycle's points are cancelled if the Minimum Amount Due goes unpaid.
Welcome, for cards from 1 September 2025: 2,500 points when the joining fee is realised and 2,500 each on ₹20,000 of net spends in the 2nd and 3rd statement cycles, so up to 7,500, stated worth ₹3,000 (7,500 times ₹0.40). Extras includes Buy 1 Get 1 movie tickets twice a month with up to ₹400 off, up to 2 golf rounds or lessons a month (one per ₹20,000 spent in the previous cycle) and roadside assistance worth ₹1,399.
Three spenders worked out
| Monthly spend | Light | Typical | Heavy |
|---|---|---|---|
| Shopping, dining and groceries in India | ₹15,000 | ₹44,000 | ₹80,000 |
| International | ₹0 | ₹0 | ₹12,000 |
| Utilities (1X) | ₹0 | ₹6,000 | ₹6,000 |
| Fuel (no points) | ₹3,000 | ₹5,000 | ₹2,000 |
| Points a month | 500 | 2,307 | 4,867 |
| Points a year, with bonuses | 6,000 | 27,684 | 77,904 |
| Value a year at ₹0.25 | ₹1,500 | ₹6,921 | ₹19,476 |
| Value a year at ₹0.40 | ₹2,400 | ₹11,073.60 | ₹31,161.60 |
- Light, ₹18,000: ₹15,000 is 100 lots of ₹150 at 5, so 500 points, and fuel earn nothing though the waiver hands back ₹30 (1% of ₹3,000). A year is 6,000 points, ₹1,500 at ₹0.25 or ₹2,400 at ₹0.40 (6,000 times ₹0.40), both under the ₹3,538.82 fee, and under ₹20,000 there is no lounges either.
- Typical, ₹55,000: the first ₹20,000 gives about 667 (₹20,000 divided by ₹150 is 133.33, times 5), the next ₹24,000 is 160 lots at 10, so 1,600, and utilities add 40. That is 2,307 a month (667 + 1,600 + 40) and 27,684 a year (2,307 times 12). Net of the fee you keep ₹3,382.18 at ₹0.25 (₹6,921 minus ₹3,538.82). Spend of ₹6,60,000 a year (₹55,000 times 12) misses the ₹8 lakh milestone.
- Heavy, ₹1,00,000: about 667 on the first ₹20,000 plus 4,000 on the next ₹60,000 (400 lots at 10), 160 on ₹12,000 abroad (80 lots at 2) and 40 on utilities, so 4,867 a month (667 + 4,000 + 160 + 40) and 58,404 a year (4,867 times 12). Four app hotel stays of ₹15,000 add 3,000 bonus each (100 lots at 30), and ₹12,00,000 of yearly spend (₹1,00,000 times 12) earns the 7,500 milestone with the next fee: 77,904 points (58,404 + 12,000 + 7,500).
Values are points times ₹0.25 or ₹0.40, so 27,684 points is ₹6,921 or ₹11,073.60 and 77,904 is ₹19,476 or ₹31,161.60. The heavy spender need a limit of at least ₹1,00,000, since points stop at the limit, and the ₹0.40 row assume you can use that many points on app bookings capped at 70% each.
Ashva: higher-reward categories
| Category | Rate | Cap |
|---|---|---|
| Eligible incremental spends above ₹20,000 in a statement cycle | 10X Reward Points (10 points per ₹150), about 1.667% value | No cap ('unlimited reward points') |
| International spends | 2X Reward Points per ₹150 effective 26 Oct 2026 (earlier 5X); counts towards the ₹20,000 10X threshold, about 0.333% value | No cap published |
| Hotel bookings via the IDFC FIRST Bank app (Travel & Shop / FIRST Rewards Gallery) | 30 bonus Reward Points per ₹150 on top of base (up to 40 points per ₹150 in total), about 5% value | 15,000 bonus Reward Points a calendar month, ₹15,000, calendar month |
| Flight bookings via the IDFC FIRST Bank app | 15 bonus Reward Points per ₹150 on top of base (up to 25 points per ₹150 in total), about 2.5% value | 15,000 bonus Reward Points a calendar month (shared), ₹15,000, calendar month |
| UPI via linked FIRST Digital RuPay card, transactions above ₹2,000 | 3 reward points per ₹150 (UPI spends count towards the ₹20,000 threshold), about 0.5% value | No cap published |
Ashva: how rewards work
| Earned as | Reward Points |
|---|---|
| Base rate | 5X Reward Points (5 points per ₹150) on eligible spends up to ₹20,000 in a statement cycle; 1 Reward Point = ₹0.25 (₹0.40 on hotel and flight bookings in the app).. About 0.833% value back |
| Minimum spend rules | Points per ₹150; no points on transactions below ₹150; the 10X rate applies only to spends above ₹20,000 in a statement cycle; points only on spends up to the credit limit. |
| No rewards on |
|
| Lower rewards on |
|
| Value of a point |
|
| Redemption fee | ₹99 + GST per redemption |
| Expiry | Never expire while the card is active. |
| Welcome benefits |
|
| Milestone benefits |
|
| Lounge access | Domestic: 4 complimentary Indian airport lounge visits every quarter; 4 complimentary railway lounge visits per quarter International: 2 complimentary global airport lounge visits every quarter (with the DreamFolks card) Condition: Spend ₹20,000 in the current calendar month to use the benefit in the next month (airport and railway lounges). |
| Fuel surcharge waiver | 1% waiver on fuel transactions between ₹200 and ₹5,000, up to ₹300 per statement cycle |
| Insurance cover | Air accident cover ₹1 crore, personal accident cover ₹10,00,000, lost card liability ₹50,000 (valid if the card had a transaction in the last 30 days); travel insurance up to USD 1,200 (checked-in baggage loss USD 500, baggage delay USD 100, passport loss USD 300, flight delay USD 300); trip cancellation cover up to ₹25,000 twice a year. |
Who can apply for Ashva
IDFC FIRST Bank does not publish an age limit or a minimum income for Ashva, neither on the card page nor on its metal card page. So there's no number to measure yourself against, which is unusual at this price. The limit is set by internal policy, and if you already holds an unsecured IDFC FIRST card, it is shared with that card.
The bank asks for identity proof and income proof, and online the journey ends with Video KYC; the exact document list is not published. Apply on the website, in the mobile app or at a branch, and remember the joining fee plus GST is paid before the metal card is sent.
What the bank looks at
- The RBI's 2025 card Directions make the bank assess your own financial means and count limits you hold with other lenders.
- RBI prescribes no minimum income or age; each issuer decide its own.
- Experian scores run 300 to 900, with above 750 generally seen as good; on CRIF, above 700. Neither number promise a yes.
- A rejected applicant must be told the specific reasons in writing.
Before you sign, you should get a one-page Key Fact Statement with the rate and charges, and no card can be issued without your explicit consent. Queries on a application go to 1800 10 888, our IDFC FIRST Bank customer care page has more numbers.
Ashva: eligibility and documents
| Age (salaried) | Not published by the bank |
|---|---|
| Age (self-employed) | Not published by the bank |
| Income (salaried) | Not published by the bank |
| Income (self-employed) | Not published by the bank |
| Other conditions | Not published on the Ashva page or the metal card page; credit limit set by internal policy and shared with other unsecured IDFC FIRST cards. |
| Documents |
|
| How to apply | Online on the IDFC FIRST Bank website or mobile app (fully digital with Video KYC; FD-backed cards need an FD opened online), or at a branch. |
| Card customer care | 1800 10 888 |
These are the bank's published conditions. Meeting them does not guarantee a card: approval and the credit limit are the bank's decision.
Who Ashva suits
Ashva rewards the person who spends big on one card and doesn't mind booking trips inside the IDFC FIRST app. At ₹55,000 a month you clear the fee by a few thousand rupees even at ₹0.25 a point, and at ₹1,00,000 the card return several times its cost. With zero forex and 2X abroad it suits someone who travel overseas a couple of times a year.
It is wrong card for a light spender. Under ₹20,000 a month you earn only 0.833%, you lose next month's lounges, and ₹3,538.82 a year is hard to earn back. Skip it also if your spend is mostly rent, fuel or bills: rent earns 3X with a 1% fee, fuel earns nothing and utilities only 1X.
Trade-offs to weigh
- The fee is a fixed cost every year, the 7,500 points at ₹8 lakh softens it but never covers it.
- ₹0.40 a point is only for app hotels and flights; elsewhere it is ₹0.25.
- Lounges, golf and Buy 1 Get 1 all hang on last month's ₹20,000, so one quiet month switches them off.
- Points never expire while the card is active, so a slow saver lose nothing by waiting.
Pros
- Zero forex markup, and international spends still earn 2 points per ₹150
- 10 points per ₹150 with no cap on spends above ₹20,000 in a statement cycle
- Up to 7,500 welcome points over the first three statement cycles, stated worth up to ₹3,000
- 4 domestic airport, 2 international airport and 4 railway lounge visits every quarter
- Points never expire while the card is active
- ₹1 crore air accident cover and trip cancellation cover up to ₹25,000 twice a year
Cons
- ₹2,999 + GST (₹3,538.82) every year with no spend-based waiver
- Only 0.833% on the first ₹20,000 of each statement cycle
- Lounges, golf and the movie offer all need ₹20,000 spent in the previous month
- No points on fuel; rent, wallet, education and government spends earn only 3X
- ₹99 + GST charged on every redemption
- International earn cut from 5X to 2X per ₹150 on 26 October 2026
Ashva against its rivals
Three cards fight for the same buyer, a person paying a mid-range fee for travel perks and better-than-basic rewards. The table below has the numbers.
Ashva or Mayura
Mayura is the bank's ₹5,999 + GST metal card with the same 5X and 10X split. The extra ₹3,000 buys 4 international lounge visits a quarter instead of 2, ₹0.50 a point on app travel instead of ₹0.40, 5X abroad instead of 2X, a 25,000 monthly bonus cap and a second milestone of 15,000 points at ₹15 lakh. Unless you travel abroad a lot or spend past ₹15 lakh a year, Ashva give most of it for half the fee.
Ashva or HDFC Regalia Gold
The HDFC Regalia Gold costs ₹2,500 + GST and, unlike Ashva, waives renewal on ₹4 lakh of retail spends. It earns 5 points per ₹200, worth up to ₹0.65 on HDFC's Gold catalogue or ₹0.50 on flights and hotels, and gives 3 domestic lounge visits a quarter after ₹60,000 spent in the previous quarter plus 6 international a year on Priority Pass. Its 2% forex is the weak spot, and salaried applicants need a gross monthly income above ₹1.5 lakh. More in Ashva vs Regalia Gold.
Ashva or Axis Bank Horizon
The Axis Bank Horizon is ₹3,000 + GST with no spend waiver. It earns 2 EDGE Miles per ₹100, 5 on airline sites and Axis Travel EDGE, and gives 8 domestic lounge visits a quarter on Visa Signature (6 on Mastercard World) plus 2 international, with the spend rule waived. The catch is a 3.5% forex markup. Pick Horizon for frequent domestic flying without a monthly spend test, Ashva for spends abroad and app redemptions.
More choices is on our best cards for airport lounge access list and the credit cards hub.
Ashva against similar cards
| Term | Ashva Credit Card This card | Mayura Credit Card | Regalia Gold Credit Card | Axis Bank Horizon Credit Card |
|---|---|---|---|---|
| Bank | IDFC FIRST Bank | IDFC FIRST Bank | HDFC Bank | Axis Bank |
| Joining fee | ₹2,999 + GST | ₹5,999 + GST | ₹2,500 + GST | ₹3,000 + GST |
| Annual fee and waiver | ₹2,999 + GST. No fee waiver. Annual fee payment benefit: spend ₹8 lakh in the previous card anniversary year and get 7,500 Reward Points on paying the next annual fee. | ₹5,999 + GST. No fee waiver. Annual fee payment benefit: 7,500 Reward Points on ₹8 lakh spends, or 15,000 Reward Points on ₹15 lakh spends, in the previous card anniversary year. | ₹2,500 + GST. Retail spends of ₹4 lakh within 12 billing cycles of your anniversary year waive the next year's renewal fee | ₹3,000 + GST. No spend-based annual fee waiver. Nil fees for customers with a Burgundy Savings Account opened on or after 1 July 2026 (one lifetime-free Axis card per Burgundy customer, at the bank's discretion). |
| Base reward | 5X Reward Points (5 points per ₹150) on eligible spends up to ₹20,000 in a... (about 0.833% value) | 5X Reward Points (5 points per ₹150) on eligible spends up to ₹20,000 in a... (about 0.833% value) | 5 Reward Points for every ₹200 spent on eligible retail spends | 2 EDGE Miles per INR 100 on other spends (about 2% value) |
| Best category | Hotel bookings via the IDFC FIRST Bank app: about 5% value | Hotel bookings via 'FIRST Rewards Gallery' in the app: about 5% value | Myntra, Nykaa, Reliance Digital, Marks & Spencer: 5X Reward Points | Axis Bank Travel EDGE portal and airline spends: about 5% value |
| Lounges | Domestic: 4 complimentary Indian airport lounge visits every quarter; 4 complimentary railway lounge visits per quarter International: 2 complimentary global airport lounge visits every quarter (with the DreamFolks card) | Domestic: 4 complimentary Indian airport lounge visits every quarter, including 1 guest visit; 4 complimentary railway lounge visits per quarter International: 4 complimentary global airport lounge visits every quarter (with the DreamFolks card) | Domestic: 3 complimentary domestic lounge visits per calendar quarter, by swiping the card International: Up to 6 visits per calendar year outside India via Priority Pass, for primary and add-on members | Domestic: 8 complimentary visits per calendar quarter (Visa Signature) or 6 per calendar quarter (Mastercard World) International: 2 complimentary visits per calendar quarter (USD 1 authorisation, reversed) |
| Forex markup | 0% (no markup) | 0% (no markup) | 2% of the amount | 3.5% of the amount |
| Network | Visa | Mastercard | Not stated by the bank | Visa, Mastercard |
| Published minimum income | Not published by the bank | Not published by the bank | ₹1,50,000 a month | Not stated on the card page |
| Status | Taking applications | Taking applications | Taking applications | Taking applications |
Frequently asked questions
What is the Ashva Credit Card annual fee, and can it be waived?
How much is an Ashva reward point worth?
What income do I need for the Ashva Credit Card?
How does lounge access work on Ashva?
What changed on the Ashva card in 2026?
Do rent and UPI payments count towards the Ashva ₹20,000 threshold?
Related
- IDFC FIRST Bank Credit Cards 2026: Free Cards, Zero Forex and the Catch
- Mayura Credit Card Review: ₹5,999 Metal Card That Still Earns Abroad
- HDFC Bank Regalia Gold Credit Card Review: 5 Points per ₹200 From May 2026
- Axis Bank Horizon Credit Card Review: 5 EDGE Miles per ₹100 on Airlines
- Best Airport Lounge Credit Cards in India 2026: Who Still Gets In Free
Sources
- IDFC FIRST Bank: Most Important Terms & Conditions - Credit Cards (MITC and Schedule of Charges); Ashva Credit Card Reward Points Terms & Conditions; Ashva Credit Card – Joining Fee Payment Benefit Terms & Conditions; Ashva Credit Card; Important update regarding your Ashva Credit Card; Important update regarding your IDFC FIRST Bank Credit Card (Zero Forex Markup notice); FIRST Digital RuPay Credit Card; Credit Card - Apply for Credit Card Online (listing page FAQ); Contact Us
Last verified: 5 November 2026
Written by Anjali Bhargawa, reviewed by BankCreds Financial Experts
BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.