Benefits Of Having An IDFC First Credit Card

Benefits Of Having An IDFC First Credit Card

IDFC First Bank has experienced significant growth since 2015, expanding its banking operations and offering a total of 4 credit cards to its customers. What sets IDFC First Bank apart is that it provides all 4 credit cards without any membership fees. These credit cards, namely IDFC First Wealth credit card, IDFC First Select credit card, IDFC First Classic credit card, and IDFC First Millennia credit card, come with highly rewarding rewards programs, features, and benefits. Here are the common features and benefits you can enjoy with an IDFC First credit card and the reasons why you should consider getting one.

  1. Fees: IDFC First Bank offers all its credit cards free of charge. These are lifetime free credit cards, but you need to have a good credit score to be eligible. Applicants must be at least 21 years old, have a minimum annual income of 3 years, and be residents of India.

  2. Finance Charges: To enhance the experience of credit cardholders, the bank has set low finance charges between 0.75% – 2.99% per month for all 4 credit cards. The finance charges are determined based on your income level. 
  3. Foreign Markup fee: For those with international expenses, the IDFC First Select credit card and IDFC First Wealth credit card are ideal choices. These credit cards have lower foreign markup fees compared to the other two, allowing you to save money on international transactions. 
  4. Welcome Benefits: IDFC First Bank credit cards offer attractive signup benefits. These include gift vouchers, cashback, bonus reward points, and more, which can be earned by using the credit card within a specified time period. The specific benefits vary depending on the credit card. 
  5. Reward rate: All IDFC First Bank credit cards offer the same rewards program. You earn 1 reward point for every Rs. 100 spent using the card, and selected transactions may earn you accelerated reward points. The IDFC First credit card rewards program is designed to keep you satisfied. 
  6. Reward redemption: You can redeem your accumulated reward points for various purposes, such as purchasing products from the product catalog, buying gift vouchers, or booking flights/hotels. Credit cardholders have access to the Poshvine Reward portal, which lists exclusive partner stores like Amazon, Flipkart, Myntra, and more for redeeming reward points. There is no redemption fee, and 1 reward point is equivalent to Rs. 0.25 for redemption on all IDFC First Bank credit cards. 
  7. Travel Benefits: All 4 credit cards provide complimentary lounge access. IDFC First Select Credit Card and IDFC First Wealth Credit Card offer both domestic and international lounge access, while IDFC First Classic Credit Card and IDFC First Millennia Credit Card only provide domestic lounge access. Choose a credit card based on your travel needs. 
  8. Other Benefits: In addition to the above, IDFC First credit cards offer insurance benefits, movie and dining benefits, free add-on credit cards, and a fuel surcharge waiver.

Bottom Line:

In conclusion, an IDFC First credit card provides a lifetime rewarding experience. With no membership fees and a wide range of features and benefits, these credit cards cater to various needs and spending habits. Identify your requirements and apply for a credit card that aligns with them.

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