Recently, IDFC First Bank has launched Diamond Reserve Credit Card. There has been discussions, that this card is more or less similar to Ashva Card. For consumers, this could make things complex and decision-making somewhat difficult. Choosing the right premium credit card can significantly influence your travel experiences, reward earnings, and overall value.
In this article, we provide a detailed look at two premium offerings from IDFC First Bank: the IDFC Ashva Credit Card and the IDFC Diamond Reserve Credit Card.
The core aspects we focus on would be annual and joining fees, airport lounge privileges, reward earning potential, and travel perks like low forex charges. This comparison of key segments would be helpful to choose the card that suits your lifestyle and wallet the best.
Fees & Charges
Both cards more or less come with a similar sort of fee structure. However, Diamond Reserve cards have a distinct advantage in this regard. Below is a comparison of their fee structures.
| Features | IDFC Ashva | IDFC Diamond Reserve |
| Annual Charges | ₹2,999 + GST | ₹3,000 + GST |
| Forex Charge | 1% | None |
IDFC Diamond Reserve is beneficial for frequent travelers or users with international transactions; the 0% forex markup can translate into significant savings over the year, making it not just a headline number but an important deciding factor.
Airport Lounge Access
The quantity and quality of access to airport lounges for frequent travelers matter a lot in their savings journey. Below is a comparison of how cards stand in terms of airport and lounge access.
| Features | IDFC Ashva | IDFC Diamond Reserve |
| Domestic Airport Lounge Access | 4 Complimentary Visits Per Quarter | 2 Complimentary Visits Per Quarter |
| International Airport Lounge Access | 2 Complimentary Visits Per Quarter | 2 Complimentary Visits Per Quarter |
| Railway Lounge Access | 4 Complimentary Visits Per Quarter | 4 Complimentary Visits Per Quarter |
Ashva credit cards offer better lounge access because they provide more visits to the lounges. Both cards have a minimum monthly spend criteria of ₹20,000. Both cards also provide similar access to railway lounges.
Reward Earnings and Redemption
Rewards and redemption are the two most important aspects for any credit card user. Since both cards are premium, it may be hard to tell their rewards apart. Below is a clear distinction between the two cards.
| Features | IDFC Ashva | IDFC Diamond Reserve |
| Reward Earning | 5X Reward Points/₹150 on Spends Up to ₹20,000. 3X RPs Are Also Awarded for Rent, Wallet loads, Education, and Government Transactions.
10X Reward Points/₹150 on Incremental Spends Above ₹20,000 Per Statement Cycle. |
3 Reward Points/₹150 Spent on Incremental Spends Up to ₹20,000. 10 Reward Points/₹150 Spent on Incremental Spends Above ₹20,000 |
| Reward Redemption Value | 1 Reward Point = Up to ₹0.40 | 1 Reward Point = Up to ₹0.25 |
The cards’ rewards are similar, but Ashva’s strong bonus multiplier (more value for the same amount spent) and higher reward redemption value make it better than Diamond Reserve.
Additional Benefits
| Features | IDFC Ashva | IDFC Diamond Reserve |
| Travel Cover | Cancel for Any Reason Cover | Cancel for Any Reason Cover |
| Movie Offer | BOGO on Movie Ticket Bookings Via District (Up to ₹250, Twice Each Month) | BOGO on Movie Ticket Bookings Via District (Up to ₹400, Twice Each Month) |
Both cards offer a strong foundation of perks and gifts, and the choice of which card is best suited to a consumer’s needs depends entirely on their lifestyle.
Bottom Line
At first glance, both cards appear similar because their joining and annual fees are almost the same, which might make the choice seem simple. But a closer look shows a clear difference in upfront value.
With the Diamond Reserve card, you pay the joining fee and receive only a one-time ₹500 voucher as a welcome benefit. This value is fixed and does not increase with usage.
In contrast, the Ashva card offers reward points instead of a flat voucher. You get ₹3,000 worth of reward points by meeting spending milestones in the first few months. While the exact value of these points depends on redemption, they outweigh a flat ₹500 voucher.
Another space where the Ashva Card outshines the Diamond Reserve is in its key space, the forex charges. Although Diamond Reserve provides 0% interest on the forex, it fails to provide rewards points on international transactions. Ashva provides better rewards points, which ultimately eliminate the drawbacks of the forex charges and even offer better benefits compared to the Diamond Reserve Card.
All these factors are indicators that the Ashva card outshines the diamond in many aspects.