IDFC Bank Credit Card-Features and Benefits

By | February 16, 2021
IDFC Bank Credit Card

IDFC Bank is set to enter the competitive credit card business in India through a series of credit cards IDFC FIRST Millennia Card, IDFC FIRST Classic Card, FIRST Select Card, and IDFC FIRST Wealth Card. IDFC Bank will offer finance charges at an annual rate of 9% for the best-rated customer, and up to 36% for lower-rated customers.

The annual percentage rate (APR) for other banks ranges from 34-40%, however, IDFC Bank will charge only a 9% rate for best-rated customers. Here is everything you need to know.

The benefits and rewards are same for all credit card other than some additional features which are different from card to card. Lets see all benefits in details below.

IDFC FIRST Millennia Card

IDFC FIRST Millennia Credit Card
IDFC FIRST Millennia Credit Card

Benefits

  • Rs.20,000 spends : 10X Rewards Points on Rs.100 spends (2.5%)
  • Online Spends : 6X Rewards Points on Rs.100 spends.(1.5%)
  • Offline Spends :3X Rewards Points on Rs.100 spends. (0.75%)
  • Birthday Spends : 10X rewards Points on all spends(2.5%)
  • 1 Reward Point = Rs.0.25

Features-Super Saver Benefits

  • NIL Over-limit fees
  • NIL Addon charges
  • NIL Reward redemption fees
  • Low-Interest Rate (9%)
  • 25% discount on movie tickets up to Rs.100, once a month
  • 20% discount on 1500+ restaurants across India
  • 15% discount on 3000+ Health & Wellness Outlets
  • 50+ In-App discount offers
  • No Expiry of reward points

The best annual finance charges (APR) are 9% for best-rated customers, which means you need to pay only Rs. 750 per month for resolving outstanding of Rs. 1,00,000.00 However, it may increase to up to 36% for low rated customers. Normally, the annual percentage rate or the APR for other banks ranges from 34-40%.

You can also use IDFC Bank Credit card for interest-free cash withdrawal facilities at ATMs of up to 48 days for nominal fees of Rs.250 , however other banks charges Rs.300-500 and Interest charges.

You can read Details review of IDFC FIRST Millennia Card here.

IDFC FIRST Classic Card

IDFC FIRST Classic Card
IDFC FIRST Classic Card

All benefits and rewards program are the same as IDFC FIRST Millennia Card; however, below are different features and benefits of IDFC FIRST Classic Card

IDFC FIRST Classic Card features.

  • Joining and renewal charges are the same for all credit cards.
  • Credit Card Interest Rate – from 0.75% to 2.99% per month
  • FX Markup – 3.5%
  • Late Payment Fee – 15% of Total Amount Due (subject to Min Rs.100 and Max up to Rs.1,000)
  • International & Domestic Cash Advance Fee – Rs.250
  • Interest-free cash withdrawal from ATMs for up to 48 days
  • Low Interest Rate (% APR), starting at 0.75% p.m. (9% annually)
  • NIL Overlimit fees, NIL Addon charges
  • NIL Reward redemption fees
  • Free Road Side Assistance(RSA) Rs.1,399

Joining Benefits

  • Welcome Gift Vouchers Rs.500 on spending Rs.15,000 within 90 days of card set-up
  • Get 5% cashback on first EMI transaction performed within 90 days of card set-up.

The joining fees are not available in IDFC FIRST Millennia Card.

IDFC FIRST Select Card

IDFC FIRST Select Card
IDFC FIRST Select Card

All the benefits are same as mentioned are different however forex mark fees are low as compared to other credit card.

Below are the benefits other than common benefits.

  • Buy one get one offer on movie tickets of up to Rs.250 per ticket, twice every month
  • Free Road Side Assistance(RSA) Rs.1,399
  • Fuel surcharge waiver at all fuel stations across India up to ₹300 every month
  • Complimentary Domestic Airport lounge & Railway Lounge accesses ( 4 each per quarter)
  • Comprehensive Travel Insurance Cover of Rs.22,500
  • Personal Accident Cover of Rs.5 Lakh & Complimentary Lost Card Liability Cover of Rs. 50,000

The Forex Mark fees of IDFC FIRST Select Card are lower than IDFC FIRST Millennia Card and IDFC FIRST Classic Card.

IDFC FIRST Wealth Card

IDFC FIRST Wealth Card
IDFC FIRST Wealth Card

The rewards program are same all above mentioned credit card. However FX Markup are 1.5%.

Below are the features of IDFC FIRST Wealth Card which is different from other credit card.

  • Complimentary Golf rounds
  • Buy one get one offer on movie tickets of up to Rs.500 per ticket, twice every month

Joining Benefits

  • Welcome Gift Vouchers worth Rs.500 on spending Rs.15,000 within 90 days of card set-up
  • Get 5% cashback on first EMI transaction performed within 90 days of card set-up.

Pros and Cons

Pros

  • Lounge Acees per Card
  • No Annual fees
  • Interest-Free cash withdrawal. However, withdrawal fees are applicable.
  • The minimum and max interest rates are 9% to 36%.

Cons

  • Now Railway Lounge Access Available
  • No Rewards Points on Insurance, Wallets, and EMI
  • No available to everyone.

FAQ

IDFC Bank Credit card Limit

IDFC FIRST Bank determines the Cardmember’s credit limit and cash withdrawal limit on the basis of Spends history, Income, age, and residential area. The Credit Limit and Cash Withdrawal Limit are communicated at the time of delivery of the Card and are also indicated in the monthly statements.

Interest-Free Period

IDFC FIRST Bank grants an Interest-free (grace) period of up to 48 days. This period shall be communicated to the cardholder on issuing of the card. However please note that Interest-free period is not applicable if the previous month’s statement balance has not been cleared in full on or before the due date. You may also check interest period from here

How to Pay IDFC Bank Credit Card Bill

There are many option to pay IDFC Bank Credit Card Bill, below are some of .
1. NetBanking 2. IMPS/NEFT 3. Cheque- You can pay y Credit Card outstanding by dropping a cheque at drop box available in IDFC FIRST Bank branches. The cheque/DD can be drawn in favour of the 16 digit IDFC _FIRST _Bank _Credit _Card number i.e. IDFC FIRST Bank Card 4. UPI QR and UPI and other method.

IDFC Bank Credit Card Customer care

Call on the 24X7 helpline number @ 18605001111 or mail to
IDFC FIRST Bank Limited
Credit Card & Allied Services Division
10TH FLOOR, TOWER 2A, UNIT NO. 1001-1002,
One India Bulls Centre, Senapati Bapat Marg, Lower Parel,
Mumbai, Maharashtra 400013, India
or E-Email at creditcard@idfcfirstbank.com

Grievance Redressal of IDFC Bank Credit Card

If you are not satisfied with the response received from customer care, then you may escalate your concern by contacting the Head/Senior Customer Care in the following ways. You can send an Email to
head.customerservice@idfcfirstbank.com or call the bank @ 1800 419 4332 (toll-free) between 10:00 am and 6:00 pm (Monday to Saturday)

My IDFC Bank Credit Card is lost/Theft

In case the Card is lost, stolen, misplaced, or you presume that the Credit Card is being used without your permission, then you should contact IDFC FIRST Bank immediately by calling 24-hour Number 1860 500 1111. You also need to file FIR with the local police station so that the Cardmember can produce its copy whenever requested by the Bank.

Avatar for Dhiraj Jha
Author: Dhiraj Jha

I love to acquire, review, and earn reward points/cashback from Credit Cards for free traveling and enjoying luxury hotels. Helping people about the benefits and optimal utilization of credit cards.

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