Explore the IDFC Mayura Credit Card‘s features, rewards, no annual fee, cashback, travel perks, and more in this complete guide.
Table of Contents
Introduction
The IDFC Mayura Credit Card is a thoughtfully designed financial solution that brings convenience and value to your everyday expenses. Tailored to suit diverse lifestyles, this card offers a blend of exciting rewards, cashback options, and exclusive benefits across categories like shopping, dining, and travel. With no annual fees and flexible features, the IDFC Mayura Credit Card is your companion for smarter, more rewarding spending.
Key Features of the IDFC Mayura Credit Card
No Annual Fees
Enjoy the benefit of zero annual or joining fees, ensuring lifelong savings.
Reward Points
Earn valuable reward points on every transaction, which can be redeemed for exciting options.
Cashback Benefits
Enjoy cashback on specific categories such as dining, entertainment, and travel, maximizing your savings.
Travel Perks
Get access to complimentary airport lounges and special discounts on travel bookings.
Global Acceptance
Accepted worldwide, making it a reliable companion for international transactions.
Flexible Payment Options
Take advantage of easy EMI conversions and interest-free credit periods for better financial management.
Enhanced Security
Equipped with advanced security features like contactless payments and instant transaction alerts for safe and secure usage.
Reward Program Highlights
Earn Points on Every Spend
Accumulate reward points on every transaction, ensuring that your spending always adds value.
Redemption Flexibility
Redeem points for a variety of options, including travel bookings, shopping vouchers, and lifestyle experiences.
Special Category Rewards
Enjoy accelerated rewards on select categories such as dining, travel, and entertainment.
No Expiry on Points
Your reward points never expire, giving you the freedom to redeem them at your convenience.
Exclusive Bonus Points
Receive bonus reward points for milestone spends and festive promotions.
Lifestyle Benefits of the IDFC Mayura Credit Card
Dining Privileges
Enjoy exclusive discounts and cashback at partner restaurants, elevating your dining experiences.
Travel Perks
Gain complimentary access to airport lounges and enjoy discounts on flight and hotel bookings.
Entertainment Offers
Avail of special deals on movie tickets, concerts, and other entertainment events for memorable outings.
Shopping Rewards
Benefit from reward points and cashback on shopping, both online and offline, across popular platforms.
Wellness and Fitness Benefits
Access discounts on wellness programs, gym memberships, and health check-ups for a balanced lifestyle.
Exclusive Partner Offers
Enjoy curated deals and privileges with partner brands in fashion, electronics, and more.
Additional Benefits of the IDFC Mayura Credit Card
Contactless Payments
Make quick and secure transactions with contactless payment technology.
Zero Liability on Lost Card
Enjoy peace of mind with zero liability protection against fraudulent transactions after reporting card loss.
Fuel Surcharge Waiver
Save on fuel expenses with a waiver on fuel surcharges at select petrol pumps.
Interest-Free Credit Period
Benefit from an extended interest-free period, allowing you to manage your finances effectively.
Easy EMI Options
Convert large purchases into affordable EMIs with flexible repayment tenures.
24/7 Customer Support
Access round-the-clock assistance for any queries or issues related to your credit card.
Security and Safety Features of the IDFC Mayura Credit Card
Contactless Payment Security
Experience secure and fast transactions with contactless payment technology, ensuring a smooth shopping experience.
Zero Liability Protection
In case of card loss or theft, you are protected from unauthorized transactions, provided the loss is reported promptly.
Real-Time Transaction Alerts
Receive instant notifications on your mobile or email for every transaction, ensuring you stay updated and aware.
EMV Chip Technology
The card is equipped with EMV chip technology, providing enhanced security for in-store and international transactions.
OTP-Based Authentication
For online purchases, a one-time password (OTP) is required to authorize payments, adding an extra layer of security.
Fraud Monitoring
Advanced fraud monitoring systems track and flag suspicious activities to prevent unauthorized use of your card.
Eligibility Criteria for the IDFC Mayura Credit Card
Age Requirement
The applicant must be between 21 and 60 years of age at the time of application.
Income Criteria
A stable monthly income is required. Salaried individuals must have a minimum monthly income of ₹25,000, while self-employed individuals need to meet higher income criteria based on their business profile.
Credit Score
A good credit score (typically 750 or above) is essential for approval. A higher score increases the likelihood of receiving the card with better features.
Residency Status
The applicant must be a resident Indian, with valid identification and address proof.
Employment Status
Applicants should be employed with a reputable organization or be self-employed with a stable income stream.
How to Apply for the IDFC Mayura Credit Card
Online Application
- Visit the Official Website: Go to the IDFC Bank website and navigate to the credit card section.
- Fill Out the Application Form: Complete the online application form with your personal, financial, and employment details.
- Submit Documents: Upload the required documents, such as identity proof, address proof, income proof, and recent photographs.
- Review and Submit: Double-check the information and submit the form for processing.
Offline Application
- Visit an IDFC Bank Branch: Visit your nearest IDFC Bank branch and request an application form for the Mayura Credit Card.
- Fill in the Form: Complete the form and provide the necessary documents, including identity, income, and address proof.
- Submit the Form: Hand over the completed form and documents to the bank representative for further processing.
Approval and Activation
Once your application is reviewed and approved, you will receive the IDFC Mayura Credit Card at your registered address. After receiving it, activate the card through the bank’s mobile app or customer service.
Fees and Charges for IDFC Mayura Credit Card
| Type of Fee/Charge | Amount |
|---|---|
| Annual Fee | ₹0 (No Annual Fee) |
| Joining Fee | ₹0 (No Joining Fee) |
| Cash Advance Fee | 2.5% of the transaction amount or ₹500 (whichever is higher) |
| Interest on Cash Advance | 3.5% per month (42% per annum) |
| Foreign Currency Markup Fee | 3.5% on the transaction amount |
| Late Payment Fee | Up to ₹1,000 (varies based on outstanding amount) |
| Overlimit Fee | Up to ₹500 |
| Duplicate Statement Fee | ₹100 per statement |
| Convenience Fee for EMI Conversion | 1.5% of the converted amount |
| Fuel Surcharge Waiver | Applicable at select petrol stations |
| Foreign Transaction Fee | 3.5% of the transaction amount |
Comparing IDFC Mayura Credit Card with Competitors
| Feature | IDFC Mayura Credit Card | HDFC Regalia Credit Card | SBI Card Elite | ICICI Bank Platinum Credit Card |
|---|---|---|---|---|
| Annual Fee | ₹0 (No Annual Fee) | ₹2,500 | ₹4,999 | ₹499 |
| Joining Fee | ₹0 (No Joining Fee) | ₹1,000 | ₹1,499 | ₹199 |
| Reward Points | Earn points on every spend | Earn 4 reward points per ₹150 | Earn 2 reward points per ₹100 | Earn 2 points per ₹100 |
| Cashback | Cashback on select categories | 1% cashback on all spends | 1% cashback on all spends | 0.5% cashback on all spends |
| Dining Offers | Discounts at partner restaurants | Discounts at partner restaurants | Discounts at partner restaurants | Discounts at partner restaurants |
| Travel Benefits | Airport lounge access, discounts on travel bookings | Airport lounge access, travel insurance | Airport lounge access, travel concierge | Airport lounge access, travel discounts |
| Fuel Surcharge Waiver | Available at select stations | Available at select stations | Available at select stations | Available at select stations |
| Interest-Free Period | Up to 50 days | Up to 50 days | Up to 50 days | Up to 48 days |
| Foreign Transaction Fees | 3.5% | 3.5% | 3.5% | 3.5% |
| EMI Conversion Options | Available | Available | Available | Available |
| Additional Benefits | No Annual Fee, 24/7 customer support | Complimentary airport lounge access | Lounge access, exclusive offers | Fuel surcharge waiver, lifestyle benefits |
Pros and Cons of the IDFC Mayura Credit Card
Pros
- No Annual Fees: The card comes with zero annual and joining fees, making it a cost-effective option for users.
- Reward Points: Earn valuable reward points on every transaction, which can be redeemed for a variety of options.
- Cashback Benefits: Get cashback on select categories like dining, shopping, and travel, maximizing the value of your spending.
- Flexible Payment Options: Enjoy EMI conversion for large purchases, helping manage expenses more easily.
- Travel Perks: Access to complimentary airport lounge visits and discounts on travel bookings add great value for frequent travelers.
- 24/7 Customer Support: Reliable customer service is available round the clock for any inquiries or issues.
- Security Features: Advanced fraud protection with features like real-time transaction alerts, EMV chip, and OTP-based authentication.
Cons
- Limited Bonus Rewards: Unlike some competitors, the IDFC Mayura Credit Card does not offer accelerated rewards for specific categories like groceries or online shopping.
- Foreign Transaction Fees: It charges a 3.5% fee on foreign transactions, which is standard but could be higher than other cards with fewer charges for international use.
- No Premium Services: Lacks premium features such as concierge services, luxury travel benefits, or higher cashback on specific purchases, offered by other cards like the HDFC Regalia or SBI Elite.
- Eligibility Criteria: Requires a good credit score and a minimum income threshold, which might exclude some potential applicants.
Customer Reviews and Feedback for the IDFC Mayura Credit Card
Positive Feedback
- No Annual Fees: Many users appreciate the fact that the IDFC Mayura Credit Card comes with no annual or joining fees, making it an affordable choice for those who want to enjoy credit card benefits without extra costs.
- Reward Points: Customers like the reward points system, especially since it can be redeemed for various options, providing flexibility and value.
- Cashback Benefits: Users often highlight the cashback offered on specific categories, like dining and travel, as a major benefit, allowing them to save on everyday expenses.
- Travel Perks: Frequent travelers are pleased with the complimentary lounge access and discounts on travel bookings, which adds to the overall convenience of the card.
- Customer Support: Reviewers report that IDFC Bank provides efficient customer support, with quick resolutions for any issues.
Negative Feedback
- Limited Reward Categories: Some users feel that the reward points system could be more rewarding, with specific accelerated points for common spending categories like groceries or online shopping.
- Foreign Transaction Fees: A few customers have expressed dissatisfaction with the 3.5% foreign transaction fee, especially for those who travel frequently and use their cards abroad.
- Lack of Premium Features: Some users who have compared the card to premium options from competitors like HDFC and SBI feel that the IDFC Mayura lacks exclusive perks, such as concierge services or higher cashback on specific categories.
- Eligibility Criteria: A few applicants have mentioned that the eligibility requirements, such as the need for a good credit score and minimum income, can be a barrier for some potential users.
Conclusion
The IDFC Mayura Credit Card is a versatile and customer-friendly financial tool designed to meet the needs of modern consumers. With no annual or joining fees, it offers a range of benefits including reward points on every purchase, cashback on select categories, and exclusive travel perks such as airport lounge access. Tailored to enhance both everyday spending and lifestyle experiences, this credit card provides users with added convenience and value, all backed by secure transaction features and 24/7 customer support. Whether you’re shopping, dining, or traveling, the IDFC Mayura Credit Card is designed to offer a seamless and rewarding experience.
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FAQs About IDFC Mayura Credit Card
What is the annual fee for the IDFC Mayura Credit Card?
The IDFC Mayura Credit Card has no annual fee and no joining fee, making it a cost-effective choice for users.
How can I earn rewards with the IDFC Mayura Credit Card?
You can earn reward points on every transaction made with the card. These points can be redeemed for a variety of options, including shopping vouchers, travel bookings, and more.
Does the IDFC Mayura Credit Card offer cashback?
Yes, the card offers cashback on specific categories like dining, shopping, and travel, allowing you to maximize your savings.
What are the travel benefits of the IDFC Mayura Credit Card?
The card provides complimentary airport lounge access and discounts on flight and hotel bookings, making it a great companion for frequent travelers.
Is there any foreign transaction fee for the IDFC Mayura Credit Card?
Yes, the card charges a foreign transaction fee of 3.5% on international purchases.
How can I apply for the IDFC Mayura Credit Card?
You can apply for the card either online through the IDFC Bank website or offline by visiting a branch and submitting your application along with the required documents.
How can I convert my purchases into EMIs?
You can convert large purchases into easy EMIs by contacting IDFC Bank customer service or using the bank’s online portal to select your preferred EMI option.
What is the interest-free period on the IDFC Mayura Credit Card?
The IDFC Mayura Credit Card offers an interest-free period of up to 50 days, giving you time to pay off your outstanding balance without interest charges.
How do I report a lost or stolen IDFC Mayura Credit Card?
You should immediately contact IDFC Bank customer support to report the loss or theft. Once reported, your card will be blocked, and you won’t be held liable for any fraudulent transactions.
What documents are required to apply for the IDFC Mayura Credit Card?
To apply, you will need to submit identity proof, address proof, and income proof along with the completed application form.
Does the IDFC Mayura Credit Card have a minimum income requirement?
Yes, the card requires applicants to have a minimum monthly income of ₹25,000 for salaried individuals. Self-employed applicants may have to meet higher income criteria based on their profile.
Is there a fee for late payments?
Yes, if you miss your payment due date, the card incurs a late payment fee, which varies based on the outstanding amount.
How do I redeem my reward points?
You can redeem your accumulated reward points through the IDFC Bank website, mobile app, or by calling customer support. Points can be redeemed for gift vouchers, travel bookings, merchandise, and more.
Can I add my IDFC Mayura Credit Card to digital wallets like Google Pay or Apple Pay?
Yes, the IDFC Mayura Credit Card can be added to digital wallets such as Google Pay, Apple Pay, and others for easy contactless payments.
Is there an option to increase the credit limit on the IDFC Mayura Credit Card?
Yes, you can request an increase in your credit limit by contacting IDFC Bank. The increase is subject to your creditworthiness and the bank’s evaluation process.
Can I use the IDFC Mayura Credit Card for international transactions?
Yes, the IDFC Mayura Credit Card is accepted globally and can be used for both domestic and international transactions, subject to foreign transaction fees.
What should I do if I suspect fraudulent activity on my card?
If you notice any suspicious or unauthorized transactions, immediately contact IDFC Bank’s customer support to report the issue and block your card.
Can I avail of EMI options for all types of purchases?
EMI options are available for most purchases, including big-ticket items. You can convert eligible transactions into EMIs through the IDFC Bank app, website, or by calling customer service.
Does the IDFC Mayura Credit Card offer any discounts on shopping or online purchases?
Yes, the card offers special discounts and deals on partner e-commerce platforms and retail stores, helping you save more on shopping.
Is the IDFC Mayura Credit Card a good option for students?
The IDFC Mayura Credit Card typically requires a stable income and good credit score, so it may not be suitable for students unless they meet these criteria. However, student-focused credit cards may be a better fit.
Can I transfer my outstanding balance from another credit card to the IDFC Mayura Credit Card?
Yes, IDFC Bank offers a balance transfer facility where you can transfer the outstanding balance from another credit card to the IDFC Mayura Credit Card, usually with a lower interest rate.
Are there any complimentary insurance benefits with the IDFC Mayura Credit Card?
The IDFC Mayura Credit Card does not typically offer complimentary insurance benefits like some premium credit cards, but you can enjoy the security of fraud protection and zero liability on unauthorized transactions.
