IDFC FIRST Credit Card Devaluation 2026

What Changed at a Glance 

BOGO movie benefit on Mayura, Ashva, Diamond Reserve, and FIRST Wealth now requires ₹20,000 in spends in the previous calendar month to unlock. Earlier there was no such condition.

Reward points on FIRST Wealth and FIRST Millennia now expire after 24 months. They were lifetime valid before. This is the most significant change for long-term accumulators.

10X rewards on FIRST Wealth and FIRST Millennia no longer need a ₹20,000 monthly spend to activate. They now start from your very first dining, travel, or international transaction. 

Rewards across all seven cards will now only be earned on spends up to your assigned credit limit per billing cycle. This is a new restriction that affects anyone who pre-pays their outstanding balance and continues spending beyond their original limit. 

Club Vistara cardholders will now earn Maharaja Points only up to their credit limit per billing cycle. Redemption is now explicitly limited to Air India and Star Alliance partners. 

Card-Wise Breakdown of All Changes

Mayura, Ashva and Diamond Reserve 

The core positioning of these cards has not changed. They are still premium travel-focused metal cards offering strong reward rates, lounge access, travel benefits, and low or zero forex markup. 

- The actual devaluation here is the movie benefit.

The Buy 1 Get 1 movie offer now requires ₹20,000 spends in the previous calendar month. Earlier, there was no such condition.

So if you want to use the BOGO benefit in August, you now need to spend ₹20,000 during July.

This is very similar to how ICICI Sapphiro handles its movie benefit - the benefit still exists, but it now needs a spend milestone before it unlocks.

For someone who uses any of these as their primary card and crosses ₹20,000 organically through dining, travel, and everyday spending, this is barely noticeable. But for someone who held these cards specifically for zero forex on international trips and treated the movie benefit as a free monthly perk without heavy card usage - that benefit now requires earning. It is a devaluation, even a conditional one. 

The other change that applies across all seven cards - and this one needs more attention than it usually gets, is the credit limit reward cap. 

From June 2026, reward points are only earned on spends up to your assigned credit limit per billing cycle. Here is why this matters: if your credit limit is ₹60,000 and you spend that, pay it off mid-cycle, and spend another ₹25,000 - only the first ₹60,000 earns points. 

That second round of spending earns nothing, even though your outstanding balance was zero when you did it. For users with lower credit limits who pre-pay and continue spending, this is a real and quiet loss. 

For users comparing premium travel credit cards in India, these cards still remain competitive - but they are now slightly more conditional than before.

Read official update: Mayura, Ashva, Diamond Reserve

FIRST Wealth Credit Card 

The FIRST Wealth Credit Card sees some of the biggest changes in this update - both positive and negative.

The biggest negative change is the removal of lifetime-valid reward points.

Reward points on the FIRST Wealth card were lifetime valid before this update. From the July 2026 statement cycle, every point you earn expires 24 months from the date it is credited. Your existing balance stays valid until July 2028 - but anything earned from July 2026 onwards has a clock on it. 

On top of that, reward redemption itself carries a ₹99 + GST fee. Because of this, many users preferred letting points build up over several months before redeeming a meaningful amount together. That strategy now becomes harder because points are no longer lifetime valid. 

The second devaluation is the BOGO movie benefit itself. 

The BOGO movie benefit now requires the same ₹20,000 monthly spend condition as Mayura, Ashva, and Diamond Reserve. And honestly, this feels worse as the BOGO on the FIRST Wealth card was already capped at just ₹250 off the second ticket. 

That is significantly lower than what other cards in this segment offer. A modest benefit with a new spend condition on top is a double hit, even if it looks small on paper. 

The credit limit reward cap applies here as well. From June 2026, reward points are only earned on spends up to your assigned credit limit per billing cycle. 

The FIRST Wealth card actually sees a meaningful upgrade on the rewards side. Earlier, 10X rewards on dining, travel, and international purchases were only unlocked after you crossed ₹20,000 in spends within a billing cycle. 

From 18 June 2026, 10X rewards start from your very first eligible transaction with no minimum spend required. This is a genuine improvement for users who do not consistently hit the ₹20,000 threshold each month.

The reward structure from June 2026 is:

*UPI rewards only apply if you have opted for the IDFC FIRST Digital UPI card. 

And importantly, the card still remains lifetime free. 

Read the full official update for FIRST Wealth credit card.     

FIRST Millennia Credit Card 

The FIRST Millennia card receives changes very similar to Wealth, but the impact feels slightly different because of the type of users this card is designed for. 

Points now expire after 24 months from the July 2026 cycle. Same rule as Wealth, same urgency - check your balance, make a redemption plan. SaveSage helps you track your points expiry across all your cards so nothing slips away unnoticed. 

The biggest positive update is the removal of the ₹20,000 spend threshold for 10X rewards.

Earlier, 10X rewards on dining, travel, and international purchases only activated after crossing ₹20,000 spent in a billing cycle. From 18th June 2026 onwards, that condition is removed completely. Now, 10X rewards on dining, travel, and international purchases start from the very first eligible transaction itself. 

The movie offer on Millennia is different from every other card in this update - and it is the better version. It is 25% off up to ₹100 on one ticket per month, not BOGO. And the condition to keep it active is simply one transaction on the card in the previous calendar month. No ₹20,000 spend condition. Use the card once a month and the benefit stays. 

And importantly, the card still remains lifetime free. 

Read the full official update for FIRST Millennia credit card.

FIRST Power Credit Card 

The main change here is the reward cap linked to the assigned credit limit. 

Reward Points will be earned for spends up to your credit limit per billing cycle. Additional spends beyond this will not be eligible for reward points. 

You continue to earn bonus Reward Points on all travel bookings made via the IDFC FIRST Bank Mobile App- 26.67% Bonus Reward Points on hotel bookings and 13.33% Bonus Reward Points on flights, over and above your applicable base rewards. 

Read the full official update for FIRST Power Credit Card  

Club Vistara IDFC FIRST Credit Card 

From 18th June 2026, Maharaja Points are only earned on spends up to your assigned credit limit per billing cycle. 

So even if you repay the balance and continue spending again within the same cycle, spending beyond the original assigned limit may no longer earn Maharaja Points.

There is also an additional clarification around redemption.

IDFC FIRST has now explicitly stated that Maharaja Points earned through the card can only be redeemed via Air India’s Maharaja Club ecosystem for:

• Award flights

• Cabin upgrades

• Cash + Points bookings

Read the full official update for Club Vistara IDFC FIRST Credit Card 

If you want to understand how to get the best value out of Maharaja Points and what you can redeem them for, read our guide here: https://savesage.club/blogs/air-india-maharaja-club-the-ultimate-guide

IndiGo IDFC FIRST Credit Card

Effective 18th June 2026, IndiGo BluChips will only be earned on spends up to the assigned credit limit per billing cycle. Additional spends beyond the original limit - even after prepayment and re-utilisation within the same cycle, will no longer earn BluChips.

Starting from the July 2026 statement cycle, accrued IndiGo BluChips will only be credited on Payment Due Date + 1 day, and only if at least the Minimum Amount Due (MAD) is paid before the due date. If MAD is not paid on time, the BluChips earned for that cycle will lapse completely.

Another update effective 22nd July 2026 introduces reduced reward earning on FASTag, railway, government, and education spends, which will now earn 0.5 IndiGo BluChips per ₹100 spent.

Read the full official update for IndiGo IDFC FIRST Credit Card.

FIRST WOW! Credit Card

Effective from 18th June,2026, reward points earned from the July 2026 statement cycle onwards will now expire after 24 months from the date they are credited. Existing reward balances will remain valid till July 2028.

The card also now follows the new reward cap linked to the assigned credit limit per billing cycle. Since FIRST WOW! is an FD-backed credit card where the credit limit depends on your FD value, this change becomes especially important for users with smaller limits who prepay and continue spending within the same billing cycle.

IDFC FIRST has also added bonus rewards on travel bookings through the IDFC FIRST app:

• 10% bonus reward points on hotel bookings

• 5% bonus reward points on flight bookings

Read the full official update for FIRST WOW! Credit Card.

Gaj Credit Card

Effective 18th June 2026, the Gaj Credit Card will only earn reward points on spends up to the assigned credit limit during a billing cycle. Additional spends beyond the original assigned limit will no longer earn rewards.

Read the full official update for Gaj Credit Card.

So What Does All This Actually Mean?  

This update is not a straightforward devaluation. Some changes genuinely improve the cards, while others quietly make benefits more restrictive.

The biggest positive is the removal of the ₹20,000 spend threshold for unlocking 10X rewards on FIRST Wealth and FIRST Millennia. But at the same time, movie benefits now come with spend conditions, points expiry has been introduced, and reward earning is now capped at your assigned credit limit per billing cycle.

And honestly, the credit limit reward cap is probably the most important change across all cards because many users may not immediately realise why their rewards feel lower over time.

This is part of the broader wave of credit card reward changes that has been rolling through 2026. You can track all devaluations and updates across issuers in one place here: Credit Card Devaluations 2026

If you hold any of these cards and are unsure whether the updated reward structure still makes sense for your spending pattern, SaveSage helps you see exactly what you are earning across all your card