IDFC First devalues its lifetime-free cards: base earn cut 25%, forex rewards halved
IDFC First, long the 'generous' issuer, moved its base earn from per ₹150 to per ₹200 (a 25% cut) and dropped forex rewards from 10X to 5X from April 2026.
IDFC First built its reputation as the generous lifetime-free issuer. That reputation took a real hit in 2026.
What changed
| Change | Before | After | Effective |
|---|---|---|---|
| Base reward-earning rate | 1 point / ₹150 | 1 point / ₹200 | 1 Apr 2026 |
| Forex rewards (Ashva, Mayura) | 10X | 5X | 1 Apr 2026 |
Moving the base from ₹150 to ₹200 per point is roughly a 25% reduction in everyday reward earning. The forex cut halves the reward rate on international spends on the premium Ashva and Mayura cards.
Who's hit
IDFC First's broad, mass-market holder base: people who picked these cards precisely because the earn rate was higher than rivals for a lifetime-free product. Daily spenders feel the 25% base cut; frequent international spenders feel the forex halving.
What to do
The cards are still lifetime-free, so there's no urgency to close them, but they're no longer the automatic "best base rate" pick. If forex was your reason for holding the Ashva or Mayura, compare it against current options on the forex calculator, or re-run Polo Match for your spend profile.
Cards affected
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