IDFC First Classic Credit Card

The major IDFC First Classic Credit Card benefits are as follows:

Unique Features of IDFC First Credit Cards

• Interest-rate model:

IDFC First Credit Cards come with a dynamic interest rate model, based on the user’s profile. Interest rates range from 9% p.a. and can go up to 42% p.a. Best rated customers can avail a preferential rate of 9% p.a. (0.75% per month).

IDFC First Credit Cards also offer up to 48 days interest-free period on cash withdrawals and a low cash withdrawal fee of Rs. 250 only. A majority of credit cards in India do not offer an interest-free period on cash withdrawal, which means interest charges are applicable on these transactions from the day of withdrawal. In addition, they charge up to Rs. 500 as withdrawal fee. However, with IDFC First Cards, you will get interest-free period on cash withdrawals as well as a low withdrawal fee.

• Joining Benefits

With IDFC FIRST Classic Credit Card, you will get a gift voucher worth Rs. 500 on spending Rs. 15,000 within 90 days from the date of card activation. And, a 5% cashback is provided on the 1st EMI transaction made within 90 days of card set-up. The introductory benefits are not extraordinary but can be called satisfactory considering the card comes free for a lifetime.

• Nil Joining and Annual Fee

IDFC FIRST Classic Credit card is free for a lifetime, which means that the card charges zero annual or joining fee. If you do not wish to pay an annual or joining fee for your credit card but still want to earn generous rewards in return and avail additional privileges, this card can be a decent choice.

Rewards Program

IDFC FIRST Classic Credit Card users can earn 10x reward points on all spends above Rs. 20,000. Unlimited reward points can be accumulated under the IDFC FIRST rewards program.

• 10x reward points on all spends above Rs. 20,000
• 3x reward points on online & offline spends up to Rs. 20,000 per month and on UPI spends above Rs. 2,000
• 10x reward points on all spend done on birthday
• 1x reward point on insurance premium & utility bill payments and on UPI spends below Rs. 2,000
• The reward points accrued are never expiring, unlimited, and easy to redeem

1x = 1 reward point per Rs. 150 spent | 1 reward point = Rs. 0.25

Please Note: Reward points cannot be earned on fuel spends, EMI transactions, and cash withdrawals. 

Related Article: Best Credit Cards for Online Shopping

Other Benefits

Some of the other IDFC Classic Credit Card benefits are listed below:

• Get a monthly 25% discount (up to Rs. 100) on purchase of movie ticket via Paytm mobile app
• 4 complimentary Railway lounge visits every quarter
• 1% fuel surcharge waiver up to Rs. 200 every month on fuel spends of Rs. 200 to Rs. 5,000
• Up to 20% off on dining at more than 1,500 restaurants
• Up to 15% off at more than 3000+ health and wellness outlets
• Personal accident cover worth Rs. 2 lakh & complimentary lost card liability cover of Rs. 25,000
• Free Road Side Assistance (RSA) worth Rs. 1,399

Please Note: IDFC First Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only. 

Below mentioned are the IDFC First Classic Credit Card fees and charges:

Particulars	Fee/Charges
Joining Fee	NIL
Annual Fee	NIL
Interest on Cash Advances	From 0.75% to 3.65% per month | 9% to 43.8% per year
Forex Markup	3.5%
Late Payment Fee	15%, subject to min. Rs. 100 and max. of up to Rs. 1,300
Cash Advance Fee	Rs. 250
Reward Redemption Fee	Rs. 99
Over-limit Fee	2.5%, min. Rs. 550, of the over-limit amount

Pros	Cons
Lifetime free	Welcome gift voucher provided on spending Rs. 15,000 within 90 days of card set-up
Up to 2.5% return rate which is good for an entry-level card	Interest-free cash withdrawal available for 48 days only
Interest-free cash withdrawal from ATMs	–

IDFC First Classic Credit Card is suitable for the needs of an individual who is seeking unlimited rewards on online as well as offline transactions. It is a good entry-level card for moderate spenders. You should consider getting this card if you wish to earn rewards with every transaction and enjoy discounts on movie ticket bookings. It also provides 4 complimentary Railway lounge visits every quarter which is good for frequent railway travellers. However, it does not offer any benefits on airport visits and flight bookings.

You can show your interest in its credit card by visiting the IDFC Bank’s website and clicking on the “Notify me on Launch” option. After that, enter your valid email-id and click on proceed. This will help you enrol for the application process and you will receive an instant notification as and when the card is launched.

Some of the credit cards that offer benefits similar to IDFC Classic Credit Card are mentioned in the table below:

Card Name	Annual Fee	Key Feature
Axis Bank ACE Credit Card	Rs. 499	5% cashback on bill payments, DTH, and mobile recharges via Google Pay
SBI SimplyCLICK Credit Card	Rs. 499	10X Reward Points on online spends
HDFC MoneyBack Credit Card	Rs. 500	2X Reward Points on Online Shopping
HSBC Platinum Credit Card	NIL	Buy 1 Ticket Get 1 Free on BookMyShow

Q. How can I apply for IDFC First Classic Credit Card?

IDFC has recently announced its credit cards but it is not yet open for applications. You can visit the website and turn on the ‘Notify me on Launch’ option to get an instant notification as soon as the credit card launches.

Q. What is the joining fee for IDFC First Classic Credit Card?

IDFC First Classic Credit Card is a lifetime free card with no joining/Membership/Annual fee applicable.

Q. What is the validity of my reward points earned on IDFC Classic Credit Card ?

The reward points accumulated on IDFC First Classic Credit Card never expire. 

Q. Can I earn reward points on any online or offline transaction through IDFC First Classic Credit Card ?

Yes, you can earn 3X reward points on online and offline spends. But some transactions are not eligible for reward points, such as fuel spends, EMIs, and cash withdrawals.

Q. Which IDFC Classic Credit Card transactions can I convert into EMI?

Transactions that are over Rs. 2,500 can be converted into EMI post-purchases. 

Q. Does IDFC First Classic Credit Card provide airport lounge access?

No, IDFC First Classic Credit Card does not provide any complimentary access to airport lounges. However, the cardholder gets 4 complimentary Railway lounge visits every quarter.

Q. What is foreign exchange markup fee on IDFC Classic Credit Card ?

Every time you make payment in a foreign currency, a foreign exchange markup fee is charged on the amount. For IDFC First Credit Cards, this rate is 3.50%.