Key Takeaways:
- IDFC FIRST has launched the invite-only Gaj credit card for private banking HNIs, offering a metal design and relationship-led access.
- The Gaj credit card features a 1:1 travel rewards rate, zero forex markup and accelerated ecosystem rewards delivering up to 33.33% value-back on hotels.
- Fees include a ₹12,500 joining and annual fee (waived on ₹10 lakh spends); joining benefit offsets the fee with 12,500 reward points.
- Premium privileges include lounge access, hotel and golf benefits, trip cancellation cover and a lifetime free FIRST Digital RuPay card for UPI integration.
IDFC FIRST Bank this week unveiled Gaj, an invitation-only metal credit card targeted at high‑net‑worth individuals within its private banking roster. The launch positions Gaj at the apex of the bank’s Ashva–Mayura–Gaj trilogy and brings together a simplified rewards structure, zero foreign exchange markup and select lifestyle privileges tailored for frequent global travellers.
Gaj credit card rewards and key benefits
The most striking feature is the straightforward rewards model: 1 Reward Point equals ₹1 on flight and hotel bookings made via the IDFC FIRST Bank app. That clarity is reinforced by accelerated earnings for ecosystem loyalty — 50 RPs per ₹150 on hotel bookings (equivalent to about 33.33% value‑back) and 25 RPs per ₹150 on flights (approximately 16.67% value‑back). Base earning includes 5 RPs per ₹150 on domestic spends and 3 RPs per ₹150 on international spends.
Gaj also waives foreign exchange mark‑ups, supports interest‑free global ATM cash access and offers comprehensive travel protection including a dedicated ₹50,000 trip cancellation cover. Reward points do not expire and are redeemable across travel, shopping and lifestyle spends; outside the bank’s travel channel the conversion is roughly ₹0.25 per RP.
Access, fees and joining benefits
Gaj is strictly invitation‑only and available to select IDFC FIRST private banking clients with significant relationship depth. The card carries a joining fee of ₹12,500 plus GST and an annual fee of ₹12,500 plus GST; the bank offsets the joining fee with 12,500 Reward Points (1RP=₹1 on travel) and will waive the annual fee on annual spends of ₹10 lakh.
These terms reflect the bank’s strategy of blending exclusivity with clear, quantifiable value. The metal card design and the invitation model are intended to complement an existing private banking relationship rather than serve as an on‑ramp for mass affluent customers.
Privileges and digital bundling
Instead of an exhaustive list of seldom‑used perks, Gaj concentrates on high‑utility privileges. Cardholders receive four domestic and four international lounge visits per quarter (including one guest), up to two complimentary golf rounds or lessons per month, an ITC Hotels “stay 3, pay 2” benefit and a complimentary meet‑and‑greet on annual international spends of USD 1,000. Travel and purchase protection covers air accident, personal accident and purchase protection features.
Every Gaj holder also receives a lifetime‑free FIRST Digital RuPay credit card that supports UPI payments and earns 1 RP per ₹150. This addition recognises the ubiquity of UPI for even premium customers and keeps high‑net‑worth clients within the bank’s digital payments ecosystem.
Who stands to benefit
The card is aimed at globe‑trotting HNIs who value clarity in rewards and frequent travel privileges. The combination of zero forex fees, a simple redemption rate for travel, and heavy acceleration within the IDFC FIRST ecosystem makes Gaj particularly relevant for clients who book hotels and flights through the bank’s channels and maintain substantial private banking balances.
Shirish Bhandari, Head of Credit Cards, FASTag & Loyalty at IDFC FIRST Bank, described the card as a design that honours modern Indian achievers, combining feature depth with an Indian aesthetic. For the bank, Gaj represents an escalation from mass‑premium offerings towards highly curated private banking experiences that deliver transparent value to top‑tier clients.
