IDFC First Bank Select credit card is a lifetime free offering from IDFC First Bank that comes with some pretty good benefits. We earn 3 reward points per Rs 150 spent with this card. We also get an option to earn accelerated rewards at 10 reward points per Rs 150 after we cross the milestone spends. The IDFC First Bank Select credit card offers domestic airport lounge access, railway lounge access, roadside assistance and fuel surcharge waiver among its benefits.
Fees
The IDFC First Bank Select credit card is offered Lifetime Free (LTF) – no joining or annual fee.
| Joining/Annual Fee | NIL (LTF) |
| Welcome Benefit | Welcome voucher worth Rs 500 on spending Rs 5000 within 30 days of card generation 5% cashback up to Rs 1000 on the transaction value of the first EMI done within 30 days of card generation |
Rewards
| Spend Category | Reward Rate | Eligible for 10X Threshold |
|---|---|---|
| Offline Spends | 3 RP/Rs 150 ~0.5% return | Yes |
| Online Spends | 3 RP/Rs 150 ~0.5% return | Yes |
| Birthday Spends (excluding below categories) | 10 RP/Rs 150 ~1.7% return | Yes |
| Rental & Property Spends | 3 RP/Rs 150 ~0.5% return | No |
| Education, Wallet and Govt. Services | 3 RP/Rs 150 ~0.5% return | No |
| Insurance & Utilities | 1 RP/Rs 150 ~0.17% return | No |
| Fuel & EMI Spends | No Rewards | No |
With the last devaluation, the reward rate on the LTF IDFC First Bank credit cards has taken a hit. Even the LTF Amazon Pay ICICI Bank credit card offers a minimum 1% return on spends. So, getting 0.17% to 0.5% on spends is too less in today’s times.
There is no max cap on earning reward points.
- Rent and property management fee is 1%+GST. But, it is subject to a minimum charge of Rs 249 per transaction.
- Cumulative utility spends of more than Rs 20,000 in a billing cycle will have an extra charge of 1%+GST to curb commercial usage.
10X Rewards on Incremental Spends
IDFC First Bank Select credit card gets a 10X benefit on incremental spending above Rs 20,000. While the 10X return is decent, we need to spend the threshold amount at lower reward rates to reach there. This decreases the overall reward rate.
Rent, property spends, education, wallet, government services, insurance, utilities , fuel and EMI spends are not eligible for this spend target for 10X rewards.
| Spend Requirement for 10X Rewards | 10X Rewards |
|---|---|
| Rs 20,000 in a statement cycle | 10 RP/Rs 150 ~1.7% return |
Key Benefits
- Foreign Currency Mark Up Charges: 1.99%+GST ~2.35%
- Paytm Movies Offer: Buy One Get One offer up to Rs 125 twice per month
- Complimentary Roadside Assistance up to 4 times per year
- Fuel Surcharge Waiver: 1% Fuel Surcharge Waiver up to Rs 300 per month. Valid for transactions value from Rs 200 to Rs 5000.
The complimentary RSA is one of the unique privileges for a card of this segment. It covers many of the RSA services that we get as a paid cover from the vehicle showroom. Do check out the T&C of these offers to see more detail.
Complimentary Airport Lounge and Spa Access
- Domestic Airport Lounge Access: 2 complimentary visits/quarter. The access is via Visa or DreamFolks card.
- International Airport Lounge Access: Not Available
- Spa Access at India Airports: Not Available
IDFC First Bank Select credit card now requires minimum spends to qualify for complimentary airport lounge and airport spa access. We need to spend a minimum of Rs 20,000 in a calendar month to get complimentary airport lounge and spa visits in the next calendar month. For example, if you want to visit lounge/spa in March then you should have spent minimum of Rs 20,000 in February.
Complimentary Railway Lounge Access
- Railway Lounge Access: 4 complimentary visits/quarter to the executive lounge in New Delhi Platform 16, Jaipur Platform 1, Agra Platform 1, Ahmedabad Platform 1, Madurai Platform 1 and Kolkata (Sealdah Platform 8)
There is no requirement of minimum spends to get complimentary railway lounge access.
Rewards Redemption
There is no expiry date for the reward points earned on the IDFC First Bank Select credit card. We can use the reward points to pay for purchases on the payment gateway. Reward points can also be redeemed for gift vouchers like Amazon, Flipkart, Myntra, and Big Basket. The value of each reward point is 25 paise. We have a reward redemption fee of Rs 99+GST ~Rs 117 for the IDFC First Bank Select credit card.
Final Thoughts
If we look at only the rewards, then what the IDFC First Select card offers is very less compared to the competition like Amazon Pay ICICI Bank credit card. But, there can be some benefits of the IDFC First Select credit card. You can use it for Paytm Movies BOGO or the RSA. Even railway lounge access is complimentary. But, airport lounge access cannot be considered as fully complimentary anymore as we have to make spends using the card to get it.
Frequently Asked Questions
IDFC First Bank Select Credit Card
1 thought on “IDFC First Bank Select Credit Card Review”
I would like to inform to the new users of IFSC First Bank credit card, that the interest rate which is showing at mobile app 30% p. a, after generating bill it can be upto 42% p.a. I am telling it from my past experience. And the problem is when anybody like me asking the customer care executive over phone about the increasing interest rate they can’t able to clear the reason. Official mail is also may not respond (when auto mail confirm will be response within 2 working days) , if respond not getting proper answer. May be, this is the only bank charged reward point redemption charges. Since one year I was used this card but now decide this card may not use further, and will not suggest to anyone.