IDFC FIRST Select Credit Card: Know Benefits & Offers

IDFC FIRST Bank is a renowned private sector bank that was established in the month of December in the year 2018. IDFC FIRST Bank is headquartered in the city of Mumbai in Maharashtra, India. This bank, with the name “IDFC FIRST Bank”, came into existence after the merger of IDFC Bank and Capital First. The bank is known to offer a large number of financial products, such as insurance, loans, debit cards, credits Cards, etc.

IDFC FIRST Select Credit Card is quite a popular and premium card that is offered by the IDFC FIRST bank. There are many other card variants also which are offered by IDFC FIRST bank. 

There is no joining fee or annual fee for this credit card, which is another reason to opt for the IDFC FIRST Select Credit Card. IDFC FIRST bank’s motto is that they provide services that are low on the charges but high on the benefits.

IDFC FIRST Select Credit Card Details

• The IDFC FIRST Select Credit Card offers truly unlimited reward points that never ever expire.
• The credit card offers its customers 1x reward points on all kinds of insurance premium payments and also utility bill payments.
• Customers can use the reward points to pay instantly for various kinds of online or in-store purchases.
• This credit card also offers 3x reward points on different rental and property management transactions.
• As a new customer, you will be offered a welcome voucher worth INR 500 when you spend more than INR 5,000 within the period of the first 30 days.
• Customers will also be able to avail a 5% cashback (up to INR 1,000) on the transaction amount of the first EMI payment that is carried out within the first 30 days from the generation of the credit card.

Advantages and Disadvantages of IDFC FIRST Select Credit Card

Advantages	Disadvantages
You will get a “Buy One, Get One” offer as well on movie tickets up to INR 125 on the Paytm Mobile Application (this feature is valid 2 times in a single month).	It is true that this card offers 3x rewards, but still, education, wallet load, and other government services are not considered for the incremental rewards.
The customers get 300+ brand offers for the whole year, including a 20% discount in more than 1,500 restaurants.	It is true that this card offers 3x rewards, but still education, wallet load, and other government services are not considered for the incremental rewards.
As this credit card is lifetime free, the IDFC FIRST Select Credit Card becomes one of the most appealing credit cards for people or individuals who want to get a credit card for themselves.	The redemption options are limited with this card.
The incremental spend limit is low as well at INR 20,000.	There is no international complimentary lounge access.
Also, the forex markup fee or charge is low, which is around 1.99%.	The premium benefits are limited.
Customers can gain access to complimentary airport and railway lounges.
There are several benefits in terms of movies as well, which is really beneficial for people who love to watch movies frequently.
There are special rewards on the birthdays of its customers.
There are many rewards on several utility bill payments and other wallet reloads.

IDFC FIRST Select Credit Card Reward Offers

This credit card has offers that come with unlimited rewards that will never ever expire. Let us look at the reward structure of the IDFC FIRST Select Credit Card.

• This card offers 10x rewards on incremental purchases of more than INR 20,000 per billing cycle.
• Customers get 10x rewards, especially on their birthdays.
• Also, the card offers 3x rewards on all kinds of online purchases for up to monthly spending of INR 20,000.
• The IDFC FIRST Select Credit Card also offers 1x rewards on utility spends (note: charges of 1% of the transaction value being applicable on utility spends greater than INR 20,000).
• The customers get 3x rewards on education, wallet load, and government services spending (Note: not considered for 10x reward points as mentioned in disadvantages).

Welcome Benefits of IDFC FIRST Select Credit Card

The IDFC FIRST Select Credit Card comes with a good number of welcome benefits as well for its customers.

• Customers are able to get gift vouchers worth INR 500 when they spend INR 15,000 within a period of 90 days from the date of card generation.
• Customers will get 5% cashback on their first EMI payment which should be done within the first 90-day time period.
• Some people might say that the welcome gift of INR 500 is less, but it must not be forgotten that the credit is lifetime-free. Moreover, the cashback offer on EMI payments is very rare in the market of credit cards.

Travel Benefits Available on IDFC FIRST Select Credit Card

This credit card offers many travel benefits and rewards as well to its customers.

• The card offers domestic complimentary airport lounge access (note: this feature can be accessed 2 times in a month and is also applicable when the previous month’s spend is more than INR 20,000).
• Customers also get complimentary railway lounge privileges (this feature can be accessed 4 times in 3 months).
• The foreign exchange markup fee is low as well which is 1.99%.
• Amazingly, this credit card offers travel insurance cover of INR 22,500 (including loss of checked-in luggage—INR 7,500; delay of checked-in baggage—INR 5,000; loss of passport and other such important documents—INR 5,000; delay in flight—INR 5,000).
• The features like lounge access and low forex markup fee will aid customers in saving as well. These features will be beneficial to customers who travel frequently.

Why Choose the IDFC FIRST Select Credit Card?

#1. Welcome Benefits: Customers get a welcome gift voucher of INR 500 when they spend an amount of INR 15,000 that too within the first 90-day period. Moreover, customers are able to get a 5% cashback on their first EMI payment which must be done within the first 90-day period as well. These features might seem less, but it is to be noted that the IDFC FIRST Select Credit Card is a lifetime-free credit card, which makes it ahead of the curve with its rivals.

#2. Reward Offers: There are so many reward benefits that these are enough for any person to get an IDFC FIRST Select Credit Card for themselves. Customers get 3x rewards on their online purchases. This card offers 10x reward points when customers spend more than INR 20,000. Moreover, customers are able to obtain 10x rewards on their birthdays. In terms of offline spending, customers get 3x reward points for each offline purchase. Customers will get 1 reward point each time they spend INR 100.

#3. ATM Benefits: The IDFC FIRST Select Credit Card lets customers withdraw interest-free cash from ATMs all over India for a time period of 48 days.

#4. Entertainment Benefits: This card is really beneficial for people who love to watch movies and visit the theatres frequently as this credit lets the customers get a free ticket worth up to INR 250 when they purchase a ticket; this feature is available to use 2 times in a single month. The credit card also offers its customers a smooth 15% discount or off at many health and wellness outlets (3,000 approximately).

#5. Dining Benefits: Even for people who love to dine out with their family or loved ones, the IDFC FIRST Select Credit Card does not disappoint, as it offers a 20% discount at more than 1,500 restaurants.

#6. Fuel Benefits: Customers get a fuel surcharge waiver for up to INR 300 each month; this feature is applicable to all fuel stations in India.

#7. Travel Benefits: The IDFC FIRST Select credit card offers domestic complimentary airport lounge access; this feature can be accessed 2 times in a month and is also applicable when the previous month’s spend is more than INR 20,000. Customers also get complimentary railway lounge privileges; this feature can be accessed 4 times in 3 months.

#8. Insurance Cover: This card offers a personal accident cover of INR 5,00,000. The customers also get a complimentary lost card liability cover for up to INR 50,000.

IDFC FIRST Select Credit Card: Terms and Conditions

• Joining, Annual, Add-on Card Fees: Undoubtedly, the joining fees, rewards fees, add-on cards are nil for all the variants of the credits offered by IDFC FIRST bank. For the customers with this credit card, the first add-on insurance is free. However, from the second add-on onwards, a one-time charge of INR 4,000 per add-on is applicable.
• Cash Advance Fees: As mentioned earlier, this card lets its customers withdraw cash from ATMs in times of emergency. It is to be noted that a fee of INR 199 is added in the next statement.
• Late Payment Charges: In this IDFC FIRST Select Credit Card,  late payment fines are applied when customers are unable to pay the minimum payment due on the credit card. In order to avoid this late payment fine, the due amount of the money has to be credited to the IDFC FIRST Bank Card Account on or prior to the payment due date. Late payment fines of 15% are imposed, calculated on the total outstanding balance from the previous statement, deducting any payments made before the due date, with a minimum fee of INR 100 and a maximum cap of INR 1300.

Who Can Apply for the IDFC FIRST Select Credit Card?

• Age Criteria: Age is the first criterion for a person who wants to apply or opt for an IDFC FIRST Select Credit Card. This is common to almost all the financial products offered by a bank. If a person wants to apply for the IDFC FIRST Select Credit Card, he or she must be at least 21 years of age. The upper age limit for the applicants is up to 65 years of age.
• Nationality: The IDFC FIRST Select Credit Card is available for all people who are a legal citizen of India. This feature is one which we never consider as an upper hand for us, but it is indeed. India is a country where individuals from all over the world migrate and settle. This rising migration of individuals from other nations should not take away our rights to gain access to financial benefits from financial institutions. This is the reason that these banks keep the topic of nationality as a mandatory criterion.
• Income Criteria: In general, an annual income of or more than INR 12,00,000 is the income criterion for the IDFC FIRST Select Credit Card. However, the income criteria will vary for the different variants of credit cards offered by the bank.

Documentation Needed for IDFC FIRST Select Credit Card

If you are someone who wants to apply for the IDFC FIRST Select Credit Card, you might want to know which documents are required to apply for an IDFC FIRST Select Credit Card.

• Proof of Address: The first and foremost document is to produce a proof of address of the applicant. There are many options for customers to fill this criterion. Documents like Ration Card, Passport, Voter ID, and Aadhaar Card can be submitted in order to produce proof of address.
• Identity Proof: The next document is to produce proof of identity. This ensures that no one can fraudulently use the name of another person in order to avail of a service or product offered by the particular bank. Documents like Driving License, Passport, and Aadhaar Card can be submitted for this criterion.
• Income Proof: The most important document is this (income proof), which ensures that the individual or person who is applying for the IDFC FIRST Select Credit Card is able to bear the charges involved with the mentioned credit card. In order to provide a document of income proof, documents like Form 16, IT Returns, and Salary Slip can be submitted to fulfill this criterion.
• Photograph: The applicants are required to produce recent photographs of themselves. Photographs of the applicants are needed as well for the identification of the customer who wants to apply for the IDFC FIRST Select Credit Card.

Application Process of IDFC FIRST Select Credit Card

Customers can apply for an IDFC FIRST Select Credit Card both online and offline. In terms of offline application, customers will have to visit the nearest branch of IDFC FIRST Bank. The next step would be to check the eligibility criteria and submit all the needed documents physically then and there.

In the case of online applications, customers can follow the steps given below:

• First, customers need to visit the official portal of IDFC FIRST Bank.
• Then, navigate to the “Credit Cards” section.
• Next, choose or select the IDFC FIRST Bank’s Select Credit Card.
• Now, click on the “Apply Now” tab.
• You can enter all the required information, such as name, mobile number, and DOB.
• Next, enter the OTP that you will receive on your phone.
• Then, follow the instructions as mentioned to proceed further.

FAQs