IDFC First Bank Credit Card Devaluation (2026): Official Changes to Wealth, Millennia & More
IDFC First Bank has announced a major devaluation of its popular credit cards starting July 2026. From the end of lifetime reward points to new spend-based movie benefits, here is everything you need to know about the changes in Wealth, Millennia, and Mayura cards.
There was a time when IDFC FIRST Bank credit cards were considered the "hidden gems" of the Indian financial market. With Lifetime Free (LTF) pricing, unlimited lounge access, and the famous "never-expiring" reward points, they offered a premium experience without any annual burden.
However, the tide is turning. Following the footsteps of other major players like Axis and HDFC, IDFC FIRST Bank has officially announced a massive wave of devaluations. These changes, set to take effect from July 2026, will fundamentally change how users interact with their Wealth, Mayura, Ashva, Millennia, and Power cards.
Key Devaluation Highlights (Effective July 2026)
1. The End of 'Lifetime' Rewards
One of IDFC's biggest USPs was that reward points never expired. That is officially over. Starting July 2026, points will carry a 24-month validity. If you have been hoarding points for a big redemption, take note: any points earned before this transition will expire in July 2028. Use them or lose them!
2. Spend-Based Movie Benefits
The days of unconditional Buy One Get One (BOGO) movie tickets are gone. To avail of the movie discounts on premium cards like Wealth, Mayura, and Ashva, you now need to spend a minimum of ₹20,000 in the previous calendar month. This shift mirrors the spend-based lounge access trend currently dominating the industry.
3. Reward Capping at Credit Limit
In a move to curb commercial usage and high-volume optimization, the bank has introduced a reward cap. You will now earn reward points only up to your assigned credit limit in a single billing cycle. Even if you overpay your bill to spend more, the excess spend will yield 0 rewards.
Travel Reward Reductions
| Booking Category | Old Bonus Rate | New Bonus Rate |
|---|---|---|
| Hotel Bookings | 33% | 20% |
| Flight Bookings | 13% | 10% |
Explore IDFC FIRST Bank Portfolio
Despite the devaluations, some cards still hold value for specific user segments. Check out the official details below:
Hello Card (FD Based)
Start your credit journey with a 100% approval rate via Fixed Deposit.
Check DetailsFinal Verdict: The Tech Aman Strategy
Is it time to close your IDFC cards? Not necessarily. If you hold an LTF (Lifetime Free) variant like the Millennia or Classic, there is no recurring cost, making them worth keeping for occasional merchant offers (Amazon/Flipkart sales).
However, if you are a "Reward Maximizer" who specifically used these cards for movie BOGOs or long-term point accumulation, the value proposition has been diluted by at least 40-50%. It might be time to look for alternatives like the SBI Cashback or Axis Ace for pure value.
Join the Tech Aman Telegram Community!
Don't miss out on the latest "Savings Hacks," Credit Card Devaluation Alerts, and Exclusive Banking Guides.
Join Telegram Now
