IDFC FIRST Ashva vs Axis Horizon (2026)
₹2,999 of closed-loop metal vs ₹3,000 of real 1:1 miles — Ashva nets more (₹28,789 vs ₹21,000 at ₹1L a month), Horizon's points actually leave the building.
Head to head
| Metric | IDFC FIRST Ashva | Axis Horizon |
|---|---|---|
| Our rank | #13 | #28 |
| Annual fee | ₹2,999 + GST | ₹3,000 + GST |
| Fee waiver | None | None |
| Forex markup | 1% + GST (Ashva-specific carve-out in the bank-wide MITC) | 3.5% + GST |
| APR | Dynamic 0.71%–3.85%/mo (8.5%–46.2%/yr); overdue rate 3.99%/mo (47.88%/yr) on MAD non-payment | 3.75%/mo (55.55%/yr, compounded as quoted by Axis) |
| Effective reward rate | 1.3% | 2.0% |
| Currency | IDFC FIRST Reward Points | Axis EDGE Miles |
| House value | ₹0.50/pt † | ₹2.00/pt |
| Welcome benefit | 7,500 RP — 2,500 on fee payment + 2,500 each on ₹20k in cycles 2 and 3 (once per customer) | 5,000 EDGE Miles on ₹1,000+ cumulative spends within 30 days (paid cards only) |
| Lounge doors opened | 93 of 644 | 107 of 644 |
| Income — salaried | not published | not published |
| Income — self-employed | not published | not published |
† IDFC FIRST Ashva: Ashva redeems the same IDFC points at ₹0.40 on app travel bookings and ₹0.25 everywhere else — a 20% haircut on Mayura's ₹0.50 house value that earn.base already bakes in.
Gold marks the better side of a row. House value is our ₹-per-point mark for each card's currency — the full valuation index →
Net annual value face-off
Everyday spend at each card's base rate plus a realistic ~20% at its best accelerator (less for narrow or capped boosters) — milestones, fee waivers and the redemption haircut all at our house ₹/point. That's why the biggest headline rate doesn't automatically win. Tune it to your own spend in the calculator.
Axis Horizon wins under ₹0.5L/month; IDFC FIRST Ashva takes over above it.
Transfer reach
Only Axis Horizon
- Singapore Airlines KrisFlyer
- British Airways Executive Club (Avios)
- Finnair Plus (Avios)
Full route maps on each card page, best ₹/point routes on the optimizer →
The call
For the ₹1L/month spender, IDFC FIRST Ashva nets ₹37,779 against ₹26,100 — a ₹11,679 gap. At ₹5L/month, IDFC FIRST Ashva nets ₹2,01,661 against ₹1,36,500 — a ₹65,161 gap. Lounge chasers: Axis Horizon opens 107 of 644 tracked doors to IDFC FIRST Ashva's 93.
Our standing verdicts: IDFC FIRST Ashva — Keep; Axis Horizon — Keep. On our board, IDFC FIRST Ashva sits at #13 to Axis Horizon's #28 — that's the overall call. Your spend pattern can overrule us: run your exact numbers →