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IDFC FIRST Bank has announced feature revision on most of its credit cards, which will be effective from 1st May 2024 onwards. In March, the bank had already made some changes to the fees and charges applicable on its cards. And now, the rewards program, exclusions and other terms and conditions have been revised, thus changing the overall value potential of IDFC FIRST Credit Cards.

Some of the common revisions that have been made across most of the credit cards are as follows:

  • Changes in the rewards program, including rewards earning rate and monthly spend threshold for 10X reward earning
  • Charging 1% transaction fee on utility spends worth more than Rs. 20,000 in a month
  • Setting minimum value of Rs. 249 on 1% rent and property management fee
  • Monthly spends requirement to avail lounge access increased from Rs. 5,000 to Rs. 20,000, wherever applicable
  • Movie ticket discount value halved, wherever applicable
On this page
IDFC FIRST Millennia & Classic Credit Cards
IDFC FIRST Select Credit Card
IDFC FIRST Wealth Credit Card
Club Vistara IDFC FIRST Credit Card
IDFC FIRST Power+ & IDFC FIRST Power Credit Card
IDFC FIRST Credit Card Fees & Charges

IDFC FIRST Millennia & Classic Credit Cards

Feature Existing Feature Revised Feature w.e.f. 1st May 2024
Reward Points on Online Spends 6X reward points on online spends for up to Rs. 20,000 monthly card spends 3X reward points on online spends for up to Rs. 20,000 monthly card spends
10X reward points on incremental monthly spends above Rs. 20,000 will continue as before
Reward Points on Utility Spends 1X reward points on utility spends (on MCC 4900) 1X reward points on utility spends (on MCCs 4814, 4816, 4899 & 4900)
Reward Points on Education, Wallet load & Government Services Spends Up to 10X reward points 3X reward points, but won’t be considered towards 10X reward points threshold calculation

How will these changes impact credit cardholders?

While the spend threshold for accelerated rewards on IDFC Millennia and IDFC Classic remains the same at Rs. 20,000, the cards’ overall value has diminished for online shoppers. Previously, cardholders who were not able to spend Rs. 20,000 in a month could still get good value-back on their online purchases as the reward rate was 6X but now it has been reduced to 3X only. Though the cards still offer rewards on education, wallet load and government services-related spends, those spends will no longer be counted towards achieving the threshold calculation of Rs. 20,000 monthly spends, hence making it difficult for cardholders to unlock the 10X rewards rate. Both these revisions would affect the overall value that users could get out of these cards.

Click here to read in detail about the changes related to IDFC FIRST Millennia Credit Card
Click here to read in detail about the changes related to IDFC FIRST Classic Credit Card

IDFC FIRST Select Credit Card

Feature Existing Feature Revised Feature w.e.f. 1st May 2024
Rewards Program 1X rewards means 1 reward point per Rs. 125 spent 1X rewards means 1 reward point per Rs. 150 spent
10X reward points on monthly incremental spends above Rs. 25,000 10X reward points on monthly incremental spends above Rs. 20,000
6X reward points on online & 3X on offline spends till Rs. 25,000 monthly card spends 3X reward points on online & offline spends till Rs. 20,000 monthly card spends
1X reward points on utility spends (MCC 4900) 1X reward points on utility spends (MCC 4814, 4816, 4899, 4900)
Up to 10X reward points on education, wallet load & government services spends 3X reward points on education, wallet load & government services spends, but no longer part of 10X reward points threshold calculation
Buy 1 Get 1 Movie Offer Up to Rs. 250 off, twice per month Up to Rs. 125 off, twice per month
Complimentary Airport Lounge Access 4 complimentary visits to domestic airport lounges per quarter on spending Rs. 5,000 in the previous month 2 complimentary visits to domestic airport lounges per quarter on spending Rs. 20,000 in the previous month

How will these changes impact credit cardholders?

On IDFC Select, the monthly spend threshold to earn 10X rewards has been reduced from Rs. 25,000 to Rs. 20,000. Though it may seem like an upgrade, exclusions have been added and the base rate has also been lowered, which reduces the card’s overall value. Previously, users could earn 1 reward point per Rs. 125 that has now been changed to 1 reward point per Rs. 150. Moreover, the rewards rate on online spends has been halved and education, wallet load and government spends would no longer earn accelerated rewards, which significantly impacts rewards accrual. Spends on the latter will also not be counted towards threshold calculation making it more difficult for users to reach Rs. 20,000 mark.

In addition to changes in the rewards program, movie discount and complimentary airport lounge visits have also been reduced to half of their previous values, along with increased monthly spend condition to avail free lounge access.

Click here to read in detail about the changes related to IDFC FIRST Select Credit Card

IDFC FIRST Wealth Credit Card

Feature Existing Feature Revised Feature w.e.f. 1st May 2024
Rewards Program 1X means 1 reward point per Rs. 100 spent 1X means 1 reward point per Rs. 150 spent
10X reward points on incremental spends above Rs. 30,000 in a cycle 10X reward points on incremental spends above Rs. 20,000 in a cycle
6X reward points on online & 3X points on offline spends till Rs. 30,000 monthly card spends 3X reward points on online & offline spends till Rs. 20,000 monthly card spends
1X reward points on utility spends (MCC 4900) 1X reward points on utility spends (MCC 4814, 4816, 4899, 4900)
Up to 10X reward points on education, wallet load & government services spends 3X reward points on education, wallet load & government services spends, but no longer considered for 10X reward points threshold calculation
Buy 1 Get 1 Movie Offer Up to Rs. 500 off, twice per month Up to Rs. 250 off, twice per month
Complimentary Airport Spa & Lounge Access 4 complimentary visits to domestic & international airport spas & lounges per quarter on min. monthly spends of Rs. 5,000 • 2 complimentary visits to domestic airport spas & lounges per quarter
• 2 complimentary visits to international airport lounges per quarter
Here, lounge benefit is activated on spending Rs. 20,000 in the previous month

How this will affect credit cardholders?

Like IDFC Select, IDFC Wealth has also suffered a significant devaluation, especially in its reward program. The base rate has been brought down from 1 point per Rs. 100 to 1 point per Rs. 150 and 6X earning on online spends has been discontinued. Though education, wallet load and government services spends will earn 3X rewards, these transactions will not be counted towards spend threshold calculation. Movie and lounge access benefits have also been slashed. With exclusions added and earn-rate lowered, it would be difficult for cardholders to accumulate substantial rewards, thus affecting the overall value one can derive from the card.

Click here to read in detail about the changes related to IDFC FIRST Wealth Credit Card

Club Vistara IDFC FIRST Credit Card

Feature Existing Feature Revised Feature w.e.f. 1st May 2024
Complimentary Airport Lounge & Spa Access Benefit available only on spending Rs. 5,000 in the previous month Benefit available on spending Rs. 20,000 in the previous month

How will these changes impact credit cardholders?

Unlike other cards, IDFC Vistara Card has not gone through many changes. The spending condition to avail airport lounge and spa services has been increased from Rs. 5,000 to Rs. 20,000. Though Rs. 20,000 monthly spends sound like an easy amount to match, it may get difficult to achieve for those who own multiple cards or do not use this card for majority of their spends.

Click here to read in detail about the changes related to Club Vistara IDFC FIRST Credit Card

IDFC FIRST Power+ & IDFC FIRST Power Credit Card

IDFC FIRST HPCL Power Plus Credit Card

Feature Existing Feature Revised Feature w.e.f. 1st May 2024
Fuel Reward Points 24X reward points, up to 1,600 points worth Rs. 400, on HPCL fuel spends in a statement cycle 30X reward points, up to 2,400 points worth Rs. 600, on HPCL fuel spends in a statement cycle
UPI Reward Points Reward Points on UPI transactions are basis the defined spending categories like fuel, IDFC FASTag recharge, grocery and utility, or base rewards rate, excluding non-HPCL fuel, insurance & EMI spends Uncapped 3X reward points on UPI transactions across all categories, excluding fuel, insurance & EMI spends
Complimentary Domestic Lounge Access Complimentary domestic airport lounge access once per quarter on min. monthly spends of Rs. 5,000 Complimentary domestic airport lounge access once per quarter on min. monthly spends of Rs. 20,000
Fuel Surcharge Waiver 1% surcharge waiver on all fuel spends Discontinued, instead equivalent reward points are included in the Fuel Rewards category

Click here to read in detail about the changes related to IDFC FIRST Power+ Credit Card

IDFC FIRST HPCL Power Credit Card

Feature Existing Feature Revised Feature w.e.f. 1st May 2024
Fuel Reward Points 15X reward points, up to 500 points worth Rs. 125, on HPCL fuel spends in a statement cycle 21X reward points, up to 700 points worth Rs. 175, on HPCL fuel spends in a statement cycle
UPI Reward Points Reward Points on UPI transactions are basis the defined spending categories like fuel, IDFC FASTag recharge, grocery and utility, or base rewards rate, excluding non-HPCL fuel, insurance & EMI spends Uncapped 2X reward points on UPI transactions across all categories, excluding fuel, insurance & EMI spends
Fuel Surcharge Waiver 1% surcharge waiver on all fuel spends Discontinued, instead equivalent reward points are included in the Fuel Rewards category

Click here to read in detail about the changes related to IDFC FIRST Power Credit Card

How will these changes impact credit cardholders?

Most IDFC FIRST Cards have been devalued but revisions on the two fuel credit cards have also come with some good news. Cardholders can now earn more reward points on their HPCL spends as the earning rate as well as the maximum monthly capping has been increased, allowing users to save more. However, UPI transactions made through these cards will now earn 2X reward points, even if they fall in a higher-reward category. Despite being fuel credit cards, fuel surcharge waiver benefit has been removed from IDFC HPCL Cards, which is quite a disappointment. Overall, the card is still great for fuel benefits for people who prefer HPCL.

IDFC FIRST Credit Card Fees & Charges

Fee Type Existing Charges Revised Charges w.e.f. 12th Mar 2024
Finance Charges 0.75% to 3.5% per month , or 9% to 42% p.a. 0.75% to 3.65% per month, or 9% to 43.8% p.a.
Revisions not applicable to commercial credit cards and FIRST SWYP. No change in overdue interest rate of 47.88% p.a.
Late Payment Charges 15% of the unpaid dues, subject to min. of Rs. 100 & max. of Rs. 1,250 15% of the unpaid dues, subject to min. of Rs. 100 & max. of Rs. 1,300
Revision not applicable to FIRST SWYP Credit Cards
Overlimit Charges (applicable on usage only) 2.5% of overlimit amount, subject to min. charge of Rs. 500 2.5% of overlimit amount, subject to min. charge of Rs. 550
Return of Cheque/ Auto Debit Failure/ Payment Return Rs. 250 per returned cheque/ auto debit/ payment return 2% of returned cheque/ auto debit/ payment return amount, subject to min. charge of Rs. 500
Foreign Currency Mark-up Charges Not applicable on Dynamic Currency Conversion (DCC) transactions Applicable on Dynamic Currency Conversion (DCC) transactions as well

Fee Revisions applicable from 1st May 2024 onwards
Not applicable to commercial credit cards and FIRST SWYP Card
Rent & Property Management Fee or Rental Surcharge (MCC 6513) 1% of transaction value 1% of transaction value, subject to min. of Rs. 249 per transaction
Fair Usage of Utility spends No fee charged on personal use No fee charged on personal use, but 1% of transaction value charged as fee on commercial usage
Here, commercial usage is defined as utility spends of more than Rs. 20,000 in a billing cycle

Click here to read in detail about the changes related to IDFC FIRST credit card fees & charges and to access the revised MITC.

Note: We will keep updating this page from time to time as soon as the bank makes changes. Please keep visiting this page for all updates.

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