IDFC First Bank Credit Cards Comparison

IDFC First Bank Credit Cards - Best Credit Cards for IRCTC Railway Lounge Access

Table of Contents

IDFC First Bank is one of the latest banks to enter the credit card space in India. Being a new bank that is eager to get new customers, it has good sign-up offers for its savings account. I hope to see IDFC First Bank give some great offers for its credit cards too. IDFC First Bank credit cards have been launched in four different variants. Here is a comparison of the IDFC First Bank credit cards and their rewards/benefits.

Variants and Joining/Annual Fee

IDFC First offers four credit card variants – Millennia, Classic, Select, and Wealth. Millennia is the lowest variant while Wealth is at the top.

LTF IndusInd Bank Credit Cards

All four variants are offered Lifetime Free (LTF) – no joining or annual fee. This is a good move by IDFC First, as it will encourage more people to apply for a credit card from a new entrant.

Earn 3X and 6X Rewards

Millennia and Classic variants get the lowest rewards with Wealth at the top position. There is no max cap on any of the cashback categories. Wallet spends get 6X rewards as well.

It does not make any sense to use the IDFC First Bank credit cards at offline stores because of the low reward rate.

LTF IDFC First Bank Credit Cards
Card VariantOffline and Rental/Property SpendsOnline Spends
IDFC First Millennia Credit Card3 RP/Rs 150 ~0.5%6 RP/Rs 150 ~1%
IDFC First Classic Credit Card3 RP/Rs 150 ~0.5%6 RP/Rs 150 ~1%
IDFC First Select Credit Card3 RP/Rs 125 ~0.6%6 RP/Rs 125 ~1.2%
IDFC First Wealth Credit Card3 RP/Rs 100 ~0.75%6 RP/Rs 100 ~1.5%
IDFC First Bank Credit Cards Comparison – Rewards

10X Rewards on Incremental Spends

IDFC First Bank credit cards get a 10X benefit on incremental spending above a certain amount. This threshold amount differs as per the variant. While the 10X return is decent, we need to spend the threshold amount at lower reward rates just to reach there. This decreases the overall reward rate.

Card VariantSpend Requirement
for 10X Rewards
10X Return
IDFC First Millennia Credit CardRs 200001.67%
IDFC First Classic Credit CardRs 200001.67%
IDFC First Select Credit CardRs 250002%
IDFC First Wealth Credit CardRs 300002.5%
IDFC First Bank Credit Cards Comparison – 10X Rewards

Excluded Transactions for Rewards

Below transactions will not get any rewards on the IDFC First Bank credit cards:

  • Fuel Spends
  • Insurance Spends
  • EMI transactions

Variant-wise Features and Benefits

IDFC First Bank differentiates the variants with the available benefits. Here is a quick comparison of what differs for each variant.

AU Bank Xcite Ace

The benefits offered by the topmost FIRST Wealth card look good. My wish is to see some more differentiation for this variant. Maybe the rewards increase a little bit more or we, if we can have some aggressive spending, offer on it.

BenefitMillennia / ClassicSelectWealth
Paytm Movies25% off upto Rs 100
Valid once per month
BOGO up to Rs 250
Valid twice per month
BOGO up to Rs 500
Valid twice per month
Complimentary RSAAvailableAvailableAvailable
1% Fuel WaiverRs 200 per monthRs 300 per monthRs 400 per month
Golf RoundsNILNIL2 per month
Personal Accident CoverRs 2 LakhsRs 5 LakhsRs 10 Lakhs
Lost Card Liability CoverRs 25000Rs 50000Rs 50000
Travel Insurance CoverNot AvailableNot AvailableUp to Rs 22500

Complimentary Railway and Airport Lounge/Spa Access

Millennia / ClassicSelectWealth
Railway Lounge4 visits per quarter4 visits per quarter4 visits per quarter
Dom. Airport LoungeNIL4 visits per quarter4 visits per quarter
Intl. Airport LoungeNILNIL4 visits per quarter
Dom. Airport SpaNILNIL4 visits per quarter

Rewards Redemption

The earned reward points do not expire on IDFC First credit cards. The reward points can be used to pay for purchases. Each RP is worth 25 paise. Reward points can also be redeemed for gift vouchers like Amazon, Flipkart, Myntra, and Big Basket. There is a reward redemption fee of Rs 99 plus GST ~Rs 117.

Pros and Cons

Final Thoughts

While the beginning was good for IDFC First Bank cards, the recent devaluation has done some harm. Millennia and Classic variants now have lower rewards than other entry-level credit cards. We can get Amazon Pay ICICI, Flipkart Axis, or SC Smart to get better cashback.

Moving up, I do not see much of a case for Select and Wealth in the premium segment either. Yes, they are LTF but HNI customers would not mind paying a fee in exchange for better rewards and benefits. Although I have the IDFC First Wealth credit card, I don’t see a use for it yet. I am waiting to see what kind of offers IDFC First brings for the cards.

Axis Bank My Zone Credit Card LTF
Share the Post:

Related Posts

7 thoughts on “IDFC First Bank Credit Cards Comparison”

  1. anand singh rana

    Can you confirm if the wealth variant which is the top also have railway lounge benefit. railway refused it

  2. Can you confirm if the wealth variant which is the top also have railway lounge benefit. There is some confusion on it

  3. I have two question
    1.
    do we get .75% on offline store spending or we get 2.5 % on offline spending on IDFC wealth CC considering we have crossed the threshold of 30k?

    2. Does Add on card also enjoy and share the same lounge access limit which primary holder enjoy?

    1. If the domestic lounge access is by credit card, then yes add-on credit cards should also work.

Leave a Reply

Your email address will not be published. Required fields are marked *

Scroll to Top