IDFC First Bank credit cards – Lifetime FREE – detailed comparison

IDFC First Bank offers different credit cards, which are all lifetime free credit cards. Each one of them has excellent offers and reward criteria. The cards have different eligibility criteria depending on the monthly income of an individual.

In this post we will discuss about the benefits and offers of each of the IDFC First bank credit card and also compare between them. After reading this article you will be able to select the perfect IDFC First credit card for you that suits you spending style and also which you are eligible for. Lets get started!

Update: IDFC First Bank has changed the rewards system of their credit cards in May 2022. We have now updated the post accordingly. Suggest you to hard refresh the page once before you read.

Welcome Benefit for all IDFC First bank credit cards

All IDFC First bank credit cards have same welcome benefit as below:

• Welcome benefit of Rs 500 on spending of Rs 15000 within 90 days of card set-up.
• Get 5% cashback on first EMI transaction performed within 90 days of card set-up.

Reward system of all IDFC First bank credit cards

All IDFC First bank credit cards have this common reward system as below:

• 6x reward points on all online spends (equivalent to 1% cashback).
• 3x reward points on all offline spends (equivalent to 0.5% cashback).
• 10x reward points on all spends above 20,000 in a billing cycle (equivalent to 2.5% cashback)
• 10x reward points on all spends on your birthday (equivalent to 1.67% cashback) – This will be applicable even if you do not spend 20,000 in that billing cycle.
• ₹99 reward redemption fee.
• Reward points never expire.
• 1 reward point = 25 paisa.
• Reward points are credited for every ₹150 spent.

MUPDATE:
Effective April 17, 2022 spends under Rental & Property Management merchant category will accrue 3X reward points and will not be eligible for 10X reward threshold calculations.

Comparison of different IDFC First Bank credit cards

As we have discussed already the common benefits of all the credit cards, now let us look into the differences between them. Let us see what makes each of the IDFC First Bank credit cards different from each other.

IDFC First Bank Millenia Credit Card

Benefits:

• 4 complimentary Railway Lounge visits per quarter.
• 25% discount on movie tickets (up to Rs 100) per month.
• Fuel surcharge waver at all fuel stations in India (up to Rs 200/month).
• 50+ in-App discount offers and up to 20% discount at 1500+ restaurants.
• Up to 15% discount at 3000+ Health & Wellness outlets.
• Personal Accident Cover of ₹ 2,00,000 and Lost Card Liability Cover of ₹ 25,000.

Eligibility:

• Indian Resident
• Age: 21 – 35
• Self Employed or Salaried Individual.
• Income up to 12 Lakhs.
• Free roadside assistance worth Rs 1399.

Charges:

• No annual / Joining fee. Lifetime Free Credit Card.
• Low Interest Rates (APR), from 0.75% to 3.0% per month (9% to 36% per annum).
• Interest free cash withdrawals on Domestic and International ATMs for up to 48 days (Cash Advance Fee of ₹ 250 per transaction will be applicable).
• No over-limit fee.
• No reward-redemption fee.
• Late Payment Fee: 15% of total amount due (subject to Min ₹100 and Max up to ₹1,000).
• Forex Markup at 3.5% for all international transactions.

IDFC First Bank Classic Credit Card

Benefits:

• 4 complimentary Railway Lounge visits per quarter.
• 25% discount on movie tickets (up to Rs 100) per month.
• Fuel surcharge waver at all fuel stations in India (up to Rs 200/month).
• Free roadside assistance worth Rs 1399.
• 50+ in-App discount offers and up to 20% discount at 1500+ restaurants.
• Up to 15% discount at 3000+ Health & Wellness outlets.
• Personal Accident Cover of ₹ 2,00,000 and Lost Card Liability Cover of ₹ 25,000.

Eligibility:

• Indian Resident
• Age: 21 – 65
• Self Employed or Salaried Individual.
• Income up to 12 Lakhs.

Charges:

• No annual / Joining fee. Lifetime Free Credit Card.
• Interest Rates (APR), from 0.75% to 3.0% per month (9% to 36% per annum).
• Interest free cash withdrawals on Domestic and International ATMs for up to 48 days (Cash Advance Fee of ₹ 250 per transaction will be applicable).
• No over-limit fee.
• No reward-redemption fee.
• Late Payment Fee: 15% of total amount due (subject to Min ₹100 and Max up to ₹1,000).
• Forex Markup at 3.5% for all international transactions.

Note: The Millennia and Classic IDFC First bank credit cards are same according to the benefits. The only difference is the design of the card and the eligibility age range. Basically, Millenia is the Classic credit card for youngsters, with a cooler look.

IDFC First Bank Select Credit Card

Benefits:

• 4 complimentary Domestic airport Lounge visits per quarter.
• 4 complimentary Railway Lounge visits per quarter.
• Buy one, get one offer on movie tickets (up to ₹ 250) on Paytm mobile app, twice per month.
• Fuel surcharge waver at all fuel stations in India (up to Rs 300/month).
• Free roadside assistance worth Rs 1399.
• Air Accident Cover of ₹ 1 crore.
• Personal Accident Cover of ₹ 5,00,000 and Lost Card Liability Cover of ₹ 50,000
• Comprehensive Travel Insurance Cover of ₹ 22,500.
• 50+ in-App discount offers and up to 20% discount at 1500+ restaurants.
• Up to 15% discount at 3000+ Health & Wellness outlets.

Eligibility:

• Indian Resident
• Age: 21 – 65
• Self Employed or Salaried Individual.
• Income from 12 Lakhs to 35 Lakhs.

Charges:

• No annual / Joining fee. Lifetime Free Credit Card.
• No Over limit Fee
• Interest Rate – from 0.75% to 2.99% per month
• No Reward Redemption Fees
• Forex Markup: 1.99%
• Late Payment Fee: 15% of Total Amount Due (subject to Min ₹100 and Max up to ₹1,000)
• International & Domestic Cash Advance Fee: ₹250

IDFC First Bank Wealth Credit Card

Benefits:

• 4 complimentary Domestic airport Lounge and spa visits per quarter.
• 2 complimentary Golf rounds per month.
• 4 complimentary Railway Lounge visits per quarter.
• Buy one, get one offer on movie tickets (up to ₹ 500) on Paytm mobile app, twice per month.
• Fuel surcharge waver at all fuel stations in India (up to Rs 400/month).
• Free roadside assistance worth Rs 1399.
• Air Accident Cover of ₹ 1 crore.
• Personal Accident Cover of ₹ 10,00,000 and Lost Card Liability Cover of ₹ 50,000
• Comprehensive Travel Insurance Cover of ₹ 22,500.
• 50+ in-App discount offers and up to 20% discount at 1500+ restaurants.
• Up to 15% discount at 3000+ Health & Wellness outlets.

Eligibility:

• Indian Resident
• Age: 21 – 65
• Self Employed or Salaried Individual.
• Income above 35 Lakhs. (Or if your income is lesser but have an existing IDFC First bank credit card, then you can upgrade to this card if your existing card’s limit is at least 5 Lakhs.)

Charges:

• No annual / Joining fee. Lifetime Free Credit Card.
• Interest Rates (APR), from 0.75% to 3.0% per month (9% to 36% per annum).
• Interest free cash withdrawals on Domestic and International ATMs for up to 48 days (Cash Advance Fee of ₹ 250 per transaction will be applicable).
• No over-limit fee.
• No reward-redemption fee.
• Late Payment Fee: 15% of total amount due (subject to Min ₹100 and Max up to ₹1,000).
• Forex Markup at 1.5% for all international transactions.

Conclusion

All the IDFC First credit cards are having similar benefits and reward system. The higher cards have all the benefits of lower card along with some more benefits added. So. I would suggest going with the highest variant that you are eligible for to get the maximum benefits.

There are a lot of different credit cards available in the market from different banks providing different exclusive rewards and cashback. Do check them out as well.

Please do let me know in the comment section below which variant you are going with and also keep your questions posted if you have any and I will try my best to answer them.