IDFC FIRST Devaluation 2026: What’s Changing for Wealth, Select, & Millennia?

Source Basis

The official PDFs confirm effective-date changes for FIRST Wealth, FIRST Millennia, Ashva, Mayura, and FIRST Power. Wealth and Millennia now get 24-month reward-point validity, reward earning only up to credit limit, and revised movie-benefit rules. Ashva and Mayura mainly get the ₹20,000 previous-month spend condition for BOGO movie tickets and reward earning only up to credit limit. FIRST Power gets the credit-limit reward earning restriction and continued travel booking bonus points.

The IDFC landing page still markets FIRST Wealth and FIRST Millennia as lifetime-free cards, and lists Wealth with low forex and lounge/movie benefits while Millennia is still shown with lifestyle/movie/reward benefits.

Official IDFC FIRST Bank Update PDFs

What Has IDFC FIRST Bank Changed?

IDFC FIRST Bank has issued a fresh set of credit card benefit updates effective 18 June 2026.

The update affects multiple cards, including:

1. IDFC FIRST Wealth Credit Card
2. IDFC FIRST Millennia Credit Card
3. IDFC FIRST Ashva Credit Card
4. IDFC FIRST Mayura Credit Card
5. IDFC FIRST Power Credit Card

The changes are not identical for every card.

For FIRST Wealth and FIRST Millennia, the biggest change is that reward points will now be valid for 24 months from the July 2026 statement cycle. Existing reward points as of the July 2026 statement cycle will also remain redeemable only until July 2028.

For FIRST Wealth, Ashva, and Mayura, the Buy 1 Get 1 movie ticket offer continues, but it now requires ₹20,000 or more spends in the previous calendar month.

For FIRST Power, the main change is that reward points will be earned only for spends up to the user’s credit limit per billing cycle. Additional spends beyond the credit limit will not earn reward points.

The important point: this is not a single-card update. It is a wider IDFC FIRST credit card reward and benefit reset.

This table separates positive changes from real devaluations. The 10X reward change is positive for Wealth and Millennia, but reward expiry, movie-offer spend conditions, and credit-limit-linked reward earning reduce the overall simplicity of IDFC FIRST cards.

The strongest devaluation is on Wealth and Millennia because reward points now have a fixed validity period. Ashva and Mayura are affected mainly through movie-benefit conditions. FIRST Power is affected mostly by the credit-limit-linked reward earning rule.

Benchmarksutra Impact Score

This is a devaluation-impact score, not a full individual card review score. It estimates how useful each card remains after the June 2026 IDFC FIRST Bank update.

After the update, FIRST Wealth and FIRST Millennia fall into B Tier because reward expiry and conditions reduce simplicity. Ashva and Mayura remain B Tier because their core premium positioning remains, but movie-benefit tracking becomes stricter. FIRST Power remains A Tier for fuel-focused users, because the update mainly affects spends beyond the credit limit.

What Changed for FIRST Wealth Credit Card?

The IDFC FIRST Wealth Credit Card sees one positive change and multiple value-reducing conditions.

The positive change is that users now earn 10X rewards from the first eligible transaction on dining, travel, and international purchases. Earlier, 10X rewards were unlocked only after spending ₹20,000 in a billing cycle.

But the negative changes are important.

Reward points earned from the July 2026 statement cycle will now be valid for 24 months. Existing reward points as of the July 2026 statement cycle will also be redeemable only until July 2028.

The Buy 1 Get 1 movie ticket offer continues, but from August 2026, the user must spend ₹20,000 or more in the previous calendar month to use the benefit.

Rewards will also be earned only for spends up to the user’s credit limit per billing cycle. Additional spends beyond the credit limit will not earn reward points.

### Benchmarksutra view

FIRST Wealth remains useful because it is lifetime free and still has low forex positioning. But it is no longer a low-maintenance card. Users must now track reward expiry and movie-offer eligibility.

What Changed for FIRST Millennia Credit Card?

The IDFC FIRST Millennia Credit Card also sees a major reward-program change.

Like Wealth, Millennia now earns 10X rewards from the first eligible dining, travel, and international transaction, instead of requiring a ₹20,000 billing-cycle threshold first.

However, reward points now have 24-month validity from the July 2026 statement cycle. Existing reward points as of the July 2026 statement cycle will remain redeemable only until July 2028.

The movie benefit is less harsh than Wealth. Millennia users can continue getting 25% off up to ₹100 on movie tickets every month, but they must be spend-active with any transaction in the previous calendar month.

For users with FIRST Digital, the UPI reward structure continues: 1X reward points for UPI transactions up to ₹2,000 and 3X reward points above ₹2,000.

### Benchmarksutra view

Millennia remains a decent lifetime-free card for entry-level users. But the reward expiry reduces its long-term value. Users should not hoard points for years.

What Changed for Ashva and Mayura Credit Cards?

The Ashva and Mayura updates are more focused than Wealth and Millennia.

For both cards, the Buy 1 Get 1 movie ticket offer continues every month, but it now requires ₹20,000 or more spends in the previous calendar month.

For example, to use the movie benefit from August 1, 2026, the user must have spent ₹20,000 or more in July 2026.

Both cards also now clearly state that rewards will be earned only for spends up to the credit limit per billing cycle. Any spend beyond the credit limit will not earn reward points.

Ashva continues to position itself as a premium metal card with 1% forex markup, up to 10 reward points for every ₹150 spent, and ₹0.40 reward-point value on travel redemptions.

Mayura continues to position itself as a premium metal card with zero forex markup, up to 10 reward points for every ₹150 spent, and ₹0.50 reward-point value on travel redemptions.

### Benchmarksutra view

Ashva and Mayura are not hit as badly as Wealth and Millennia because the update does not introduce 24-month reward expiry in the uploaded communication. But the movie benefit is now less automatic.

What Changed for FIRST Power Credit Card?

The IDFC FIRST Power Credit Card update is the least severe among the cards covered here.

The card continues to offer value on HPCL fuel spends, grocery, utility, IDFC FIRST FASTag spends, UPI spends, and other retail spends.

The main update is that reward points will be earned only for spends up to the user’s credit limit per billing cycle. Additional spends beyond the credit limit will not earn reward points.

The card also continues to earn bonus reward points on travel bookings made through 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 the applicable base rewards.

### Benchmarksutra view

FIRST Power remains useful for fuel-focused users. The update mainly hurts users who spend beyond their credit limit expecting extra rewards.

IDFC FIRST Credit Card Update 2026

Hidden Conditions to Check After the IDFC FIRST Update

Before continuing heavy usage on an IDFC FIRST credit card, check these conditions carefully.

1. Reward points now expire on Wealth and Millennia

FIRST Wealth and FIRST Millennia reward points earned from the July 2026 statement cycle will be valid for 24 months. Existing points as of that cycle will remain redeemable only until July 2028.

2. Movie benefits are no longer frictionless

FIRST Wealth, Ashva, and Mayura users need ₹20,000 or more spends in the previous calendar month to use the Buy 1 Get 1 movie ticket offer.

Millennia users need to be spend-active with any transaction in the previous calendar month to use the 25% movie-ticket discount.

3. Rewards are capped by credit limit

Reward points will be earned only for spends up to the user’s credit limit per billing cycle. Any additional spends beyond the credit limit will not earn reward points.

4. MCC rules matter

Dining and travel rewards depend on merchant category codes. A transaction may not earn expected accelerated rewards if the merchant is coded differently.

5. Some categories still earn lower or no rewards

Insurance, utilities, railways, and FASTag continue to earn lower rewards on Wealth and Millennia. Fuel, EMI transactions, and cash withdrawals do not earn reward points on Wealth and Millennia.

6. Travel booking bonuses are app-linked

Bonus reward points on hotel and flight bookings continue when bookings are made via the IDFC FIRST Bank Mobile App. Users should not assume the same bonus applies outside the bank app.

FAQ

Final Verdict

The 2026 IDFC FIRST credit card update is a clear devaluation for some users, especially those holding FIRST Wealth and FIRST Millennia.

The cards are not useless. In fact, Wealth and Millennia now get a positive change: 10X rewards start from the first eligible dining, travel, and international transaction.

But the negative changes matter more for casual users.

Reward points now have 24-month validity on Wealth and Millennia. Existing points also get a defined validity timeline until July 2028. Movie benefits are also more condition-heavy, especially for Wealth, Ashva, and Mayura users who now need ₹20,000 previous-month spends for BOGO movie tickets.

The biggest practical lesson is this:

Do not treat IDFC FIRST cards as set-and-forget reward cards anymore.

Benchmarksutra’s view:

• FIRST Wealth remains useful, but drops because reward expiry and movie conditions hurt simplicity.
• FIRST Millennia remains decent for beginners, but reward expiry weakens its lifetime-free appeal.
• Ashva and Mayura remain premium cards, but their movie benefit is less automatic.
• FIRST Power remains useful for fuel-focused users, but rewards beyond credit limit are no longer a valid assumption.

If you already own these cards, do not panic-close them. But do start redeeming points regularly and stop relying on benefits without checking conditions.