Quick Verdict

  • For everyday spend including fuel and groceries, the IDFC HPCL First Power Plus Credit Cardⓘ wins with its very high category rates.
  • The Makemytrip ICICI Bank Signature Credit Cardⓘ is better for travel spend and offers more lounge access, both domestic and international.
  • The IDFC card is cheaper to hold if you can meet the Rs 1.50 lakh annual spend for fee waiver; otherwise, the Makemytrip card costs more but gives better rewards on travel.
  • Choose the IDFC card if you spend heavily on fuel, groceries or utilities; choose the Makemytrip card if you travel frequently and want premium lounge access and travel benefits.

Side by Side

DetailIDFC HPCL First Power Plus Credit CardⓘMakemytrip ICICI Bank Signature Credit Cardⓘ
Annual feeRs 499Rs 999
Joining feeRs 499Rs 999
Fee waiver on spendRs 1.50 lakh (Rs 12,500 monthly)None specified
Reward rate0.75% base1.25% base
Reward typepointspoints
Domestic lounge4 per year8 per year
International loungeNone4 per year
Forex markup3.5%3.5%
Best suited forfuel, UPI-RuPay, grocery, loungetravel, lounge, rewards

Rewards Compared

The IDFC HPCL First Power Plus Credit Cardⓘ returns Rs 75 on Rs 10,000 of general spend at its base rate of 0.75%. However, it shines in key categories: fuel earns Rs 650 per Rs 10,000 spent, groceries and utilities both Rs 500 per Rs 10,000. This makes it highly rewarding for everyday essentials and fuel expenses.

The Makemytrip ICICI Bank Signature Credit Cardⓘ offers a higher base reward rate of 1.25%, equating to Rs 125 per Rs 10,000 general spend. Its category rewards focus on travel and dining, with travel spending earning Rs 600 per Rs 10,000 and dining Rs 250. This card is therefore more attractive for travel enthusiasts and those dining out frequently.

Fees Compared

The IDFC card charges a joining and annual fee of Rs 499 each, which is on the lower side. It offers a fee waiver if you spend Rs 1.50 lakh annually, equating to about Rs 12,500 per month. The break-even spend for the base rewards to cover the fee is Rs 66,533 annually.

The Makemytrip card charges a higher joining and annual fee of Rs 999 each, with no explicit fee waiver mentioned. The base reward rate is higher but you need to spend Rs 79,920 annually to recover the fee through rewards alone. The extra Rs 500 fee compared to the IDFC card requires approximately Rs 1,00,000 additional spend to justify.

Which One Should You Pick

Choose the IDFC HPCL First Power Plus Credit Cardⓘ if your spend is concentrated on fuel, groceries, utilities, and you want to benefit from a lower fee and fee waiver option. It suits everyday spenders who want solid rewards on essential categories and occasional lounge access domestically.

Opt for the Makemytrip ICICI Bank Signature Credit Cardⓘ if you travel frequently, want premium lounge access both in India and abroad, and prefer a higher general reward rate. The card is ideal for travel lovers who also dine out and are willing to pay a higher fee for enhanced travel perks.

Those who rarely spend on travel or lounges should skip the Makemytrip card due to its high fee and no waiver. Conversely, those who do not meet the Rs 1.50 lakh annual spend should reconsider the IDFC card as its fee waiver is a significant benefit but only if utilized.

What to Check Before You Apply

  • Confirm the monthly lounge spend gate of Rs 20,000 on the IDFC card to ensure lounge access eligibility.
  • Review redemption value for points on both cards before applying to ensure rewards translate well.
  • Calculate your monthly spend carefully to check if you meet the IDFC fee waiver threshold of Rs 12,500 per month.
  • Consider the 3.5% forex markup on foreign currency spend, which applies equally to both cards.
  • Check the availability and convenience of domestic and international lounge locations relevant to your travel habits.

FAQ

What are the key reward differences between these two cards?+
The IDFC card rewards fuel, groceries, and utilities very generously with rates up to 6.5% on fuel, while the Makemytrip card focuses more on travel and dining with its top category rate at 6%. The Makemytrip card also has a higher base reward rate of 1.25% versus 0.75% for the IDFC card.
Is there any fee waiver available on these cards?+
The IDFC HPCL First Power Plus card offers a waiver on the Rs 499 annual fee if you spend Rs 1.50 lakh annually, which breaks down to Rs 12,500 per month. The Makemytrip ICICI Bank Signature card does not specify any fee waiver.
How many lounge visits do these cards provide?+
The IDFC card grants 4 domestic lounge visits per year with a monthly spend requirement of Rs 20,000. The Makemytrip card offers more with 8 domestic and 4 international lounge visits annually, better suited for frequent travelers.
What is the forex markup charge on both cards?+
Both cards charge a forex markup of 3.5% on foreign currency transactions, which is the standard in India, adding cost to overseas spend.
Who should avoid these cards?+
Skip the IDFC card if you cannot commit to Rs 1.50 lakh annual spend to waive the fee. Avoid the Makemytrip card if you do not travel or dine out enough to justify its higher fees and specialized rewards.