| IDFC Bank FIRST Private Credit Card Overall Rating: ★★★★ | |||
| Welcome Benefits | Reward Benefits | Travel Benefits | Other Benefits |
| ★★★★ | ★★★ | ★★★ | ★★★★ |
Note: This card is not available on Paisabazaar.com. Content on this page is for information purpose only. To express interest in this card, please visit the IDFC First Bank website.
Similar to other super premium credit cards in India, IDFC FIRST Private Credit Card is also targeted towards a high income group. To match up to the super premium label, the card offers benefits around multiple categories, but specifically benefits huge on rewards and travel. However, before moving forward understand that this card is an invite-only card, thus, you can not willingly apply for it, unless the bank offers you the application. Secondly, to match up the multi-faceted benefits, it comes with a high annual fee of Rs. 50,000. So even when offered, you must first consider your ability to pay the fee, and if you will be able to maximize the benefits offered.
To help you make an informed decision, we have covered an analysis for this card, keeping in view its comparison with the other two popular invite-only super premium cards, HDFC Bank Infinia and Axis Bank Reserve.
High value back on card activation benefits
The card comes with the following welcome benefits on payment of a joining fee of Rs. 50,000:
- 2,00,000 bonus rewards points worth Rs. 50,000
- Curated Taj Epicure Membership
Though the card charges a high joining fee, it offers much more than charged, considering the total value back offered. While the bonus reward points alone equate the fee charged, Taj Epicure membership itself costs around Rs. 30,000 (approx) for the Preferred membership programme. For Privilege membership, this cost can rise up to Rs. 60,000 (approx). Thus, the card clearly offers more than it charges. Besides, if you are a frequent traveler, this membership can offer you multiple benefits like discounts on food & beverages, spa treatments, room upgrades, discounts on stays amongst other exclusive privileges.
In comparison to IDFC FIRST Private, other similar cards offer the following benefits:
| HDFC Bank Infinia Credit Card |
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| Axis Bank Reserve Credit Card |
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While all three cards offer bonus reward points, note that, HDFC Infinia offers the highest redemption value of 1:1, in comparison to Axis Reserve and IDFC FIRST private, that offer redemption value of Rs. 0.2 and Rs. 0.25, respectively per reward point. However, IDFC FIRST Private, matches up to Infina, by offering a higher number of rewards that easily equate to the fee charged. Clubbing the reward value with the complimentary memberships, HDFC Infinia offers a total welcome benefit of Rs. 29,020; Axis Reserve offers a benefit of Rs. 48, 190, whereas IDFC First private offers a value benefit of Rs. 80,000.
Thus, IDFC First Private turns out offering the best welcome benefits among these, even when individually all three cards do good with card activation benefits.
Note: The minimum value for complimentary memberships is taken from the membership providers’ official websites, as on August 3, 2023. These may vary from time to time, and as per ongoing offers.
Incremental Reward Structure
Similar to most IDFC FIRST Bank Credit Cards, this card also comes with an incremental rewards structure. Thus, the more you spend, the more you earn. The incremental rewards on this card, can be earned beyond monthly spend of Rs. 30,000.
| General rewards (up to Rs. 30,000) |
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| Incremental rewards (above Rs. 30,000) |
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Notes:
- Reward points earned are not applicable on Fuel, EMI transactions & Cash.
- Rental and property managment transactions accrue 3X Reward Points and are not considered for 10X calculations.
The incremental rewards structure on this card is a great feature specially for heavy spenders, who put most of their expenses on their credit card. Thus, you earn more on spending more. Besides, the limit offered to earn the incremental rewards is also feasible at Rs. 30,000, with 6x and 3x rewards on online and offline shopping. On considering that you use your card for day-to-day expenses such as grocery or apparel shopping, you can easily meet the requirement.
Additionally, there is no capping on the earning of reward points in a month, thus, you can earn as many rewards as possible on your spends. The best part however is that there is no expiry to reward points and no limit on reward points redemption, like other cards such as Axis Reserve that limits rewards points earning to 5,00,000 EDGE reward points in a year. Thus, you can use your accumulated reward points, for maximum value back on collecting a good number, at the rate of 1 reward point= Rs. 0.25.
The reward benefits offered by other similar cards is as follows:
| HDFC Bank Infinia Credit Card |
Axis Bank Reserve Credit Card |
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IDFC FIRST Private offers higher rewards on retail spends, in comparison to HDFC Infinia, but overall surpasses the reward features only when you utilize the incremental reward structure. Besides, if you compare the redemption value with HDFC Infinia, it seems fairly low. With Infinia, you can redeem reward points for up to 1 rupee per point against multiple options such as flight and hotel bookings, Apple products and Tanishq vouchers, Air Miles conversion, Products Vouchers, and cash back against statement balance. On the other hand, with IDFC FIRST Private the redemption options are limited to online or offline transactions and gift vouchers of preferred Brands.
Axis Bank Reserve credit card, also offers a higher number of reward points on your spends, but you get a lower redemption value of Rs. 0.2, in comparison to IDFC FIRST Private. However the accumulated rewards can be better utilized with Axis Reserve, as the card offers redemption against domestic and international partners across airlines and hotels, at a ratio of 5:2. Thus, accelerated rewards on international spends and redemption of rewards across travel loyalty programs, works best in favor of Axis Reserve, even when IDFC Private comes at a comparatively higher redemption value.
Based on the reward features, here is an illustration to clarify the maximum reward benefits you can earn on varying transactions as follows, with the IDFC FIRST Private Credit Card and other similar credit cards:
| Category | Monthly expense | IDFC FIRST Private Card | HDFC Bank Infinia Card | Axis Bank Reserve Card |
| Online spends | Rs. 25,000 | 2500 points | 1250 points | 1875 points |
| Offline spends | Rs. 15,000 | 1500 points | 750 points | 1125 points |
| International transactions | Rs. 20,000 | 2000 points | 1000 points | 3000 points |
| Utility bill payments | Rs. 4,000 | 40 points | 200 points | 300 points |
| Fuel Spends | Rs. 4,000 | 0 | 0 | 300 points |
| Insurance spends | Rs. 12,000 | 120 points | 600 points | 0 |
| Rent | Rs. 20,000 | 600 points | 0 | 0 |
| Total Rewards Earned | 6760 points | 3800 points | 6600 points | |
| Maximum Value of 1 reward | Rs. 0.25 | Rs. 1 | Rs. 0.20 | |
| Total Value Back | Rs. 1,690 | Rs. 3,800 | Rs. 1,320 | |
*For IDFC FIRST Private Credit Card, the valueback is calculated as per the incremental reward structure.
Clearly, even when HDFC Bank Infinia offers the lowest number of rewards, due to a high value, it turns out to be the highest rewarding card than the other two cards here. This is a big win for Infinia, especially because it charges the lowest fee amongst the three cards, of Rs. 12,000 in comparison to Rs. 50,000 charged by other two. However, the benefit can be best utilized only when you choose to redeem your points against redemption options that offer 1:1, such as cashback, air mile conversion, or Apple and Tanishq vouchers.
The benefit however may vary as per your major spending category. Since there is no capping on earning reward points, you must also consider where you can earn more. For instance, for international payments, Axis Reserve is a good option, whereas, IDFC FIRST Private can still be considered if you are a heavy spender, who can manage to meet the incremental spends, and if you pay a huge amount of rent each month.
Reward Redemption against Charity
The card comes with a unique redemption option of redeeming reward points for donation against a charity. Through this option, you can choose to donate your reward points for a cause of your choice. This will not only serve you good on moral grounds, but will also offer you a value back, as you get 25% rewards back at the end of the statement cycle for the donated rewards. For instance, if you donate 1000 reward points towards a charity, you will get 250 reward points credited back to your account. If eligible, you can also earn a tax certificate for the amount donated.
Karma Points as Incremental Rewards
On spending above Rs. 30,000 in a month you not only earn the accelerated rewards but also get to earn ‘KARMA’ points, which the bank contributes to charitable donations on your name. For every Rs. 100 spent (above Rs. 30,000) you earn 1 KARMA point, that equals to Rs. 0.25. Additionally, you also get Karma points on your birthdays, for 10% of the amount spent, for a maximum value of Rs. 25,000 per year.
For the donated points, you can also earn Tax certificate that might serve better to the targeted customer segments, i.e. the high income earners, who pay huge taxes.
Karma points are not offered on fuel, EMI, insurance transactions, cash withdrawals, rental and property transactions.
Lifestyle Benefits
IDFC FIRST Private comes with the following lifestyle benefits around movies, golf, concierge and dining:
- Instant discount of up to Rs. 750 per month for movies, plays, and event ticket bookings at BookMyShow, twice in a month.
- Access to 1 complimentary golf round or lesson in a month, on spending Rs. 20,000
- Access to 2 complimentary golf rounds or lessons in a month, on spending above Rs. 40,000
- Concierge service through VISA Infinite Platform- Airport Limo Transfer Program, Meet & Greet Immigration Services and Affluent Dining Platform
| Lifestyle Benefits offered by other Similar Cards | |
HDFC Bank Infinia Credit Card:
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Axis Bank Reserve Credit Card:
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Overall, the lifestyle benefits offered on IDFC FIRST Private Credit Card are decent, considering the other benefits offered. However, in comparison to HDFC Infinia and Axis Reserve, IDFC FIRST Private falls behind on certain parameters as follows:
- In comparison to Axis Bank Reserve Credit Card, IDFC FIRST Private offers lower value on movie ticket bookings. While IDFC FIRST limits the maximum savings to Rs. 750 per month, Axis Reserved offers a higher limit of Rs. 1,500.
- IDFC FIRST Private does not offer does not offer any benefits on dining per se.
- The frequency of golf access is lower, in comparison to both HDFC Infinia and Axis Bank Reserve. Additionally, golf access on this card is condition based, unlike other two cards here, that offer free lounge access, without any minimum spend requirements.
- Unlike Axis Reserve, the card does not offer any benefit on health and wellness.
Travel Benefits
The travel benefits offered on this card are as follows:
- 0% forex markup fee
- Interest-free cash withdrawal for up to 48 days
- Unlimited domestic and international airport lounge and spa access in India
- 4 complimentary railway lounge visits in a quarter
- Cancellation for any reason insurance, for 2 claims up to Rs. 50,000 on flight and hotel booking cancellations
- Comprehensive travel and air accident insurance covers
- Complimentary roadside assistance worth Rs. 1,399
IDFC FIRST Private credit card has an edge over other cards like Axis Reserve and HDFC Infinia when offering international travel benefits, due to the lowest forex markup of 0%, a very rare feature offered on very limited cards. In comparison, the forex markup on HDFC Infinia and Axis Reserve is 2% and 1.5%, respectively.
The lounge access benefit on the IDFC Card is similar to the other premium cards that offer unlimited lounge access. But, the difference is that IDFC FIRST Card offers the the unlimited lounge access via the Dream Folks membership, instead of Priority Pass. However, it falls behind Axis Reserve, as no free guests visits are allowed, even at a similar fee of Rs. 50,000. While Axis Bank Reserve offers 12 free guest visits in a year, IDFC FIRST offers none to guests. HDFC Infinia also offers no guest visits to lounges, but it is still acceptable since it comes at a comparatively lower fee.
Overall, IDFC FIRST turns out to be a good card for travel benefits, when you look at the card’s features individually. The card does not specifically limit the travel benefits to international or domestic locations, but covers both. The unlimited lounge access, 0% forex markup, good frequency to railway lounge access, clubbed with Taj Epicure Membership on card activation, can turn out to be a great benefit for frequent travelers. The only drawback however, is that you do not get to redeem your reward points against airlines, hotel loyalty programs, or any other travel features. Thus, you can save on travel by ‘only’ earning points that can be utilized across other categories. This gives HDFC Infinia and Axis Reserve a slight advantage, to target the needs of those looking for all-rounder travel benefits.
Other Benefits offers by IDFC FIRST Private Credit Card:
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