IDFC FIRST Millennia Credit Card: Rewarding Card for High-spenders

Up to 10X Reward Points that Never Expire

Being a rewards credit card, IDFC FIRST Bank Credit Card lets you earn reward points across all purchases, with accelerated earning on reaching monthly milestone as shown in the table below:

Points to Keep in Mind:

• 1X= 1 Reward Point per Rs. 150 spent
• Redemption value of 1 Reward Point = Rs. 0.25
• Reward Points earning and 10X threshold not applicable on fuel, EMI, and cash withdrawal transactions
• Rent payments, property management transactions, utility, insurance, education, government services and wallet load categories will not be a part of 10X threshold calculation
• Reward redemption fee of Rs. 99 is applicable
• Use reward points to pay for transactions at select online and in-store merchants

Here, the default rewards rate for online and offline spending is 0.75%. However, for all the incremental spends that are made post reaching the monthly spend threshold of Rs. 20,000, this reward rate will increase to 2.5%. This rewards rate can be considered a good one for a beginner’s level credit card, especially when compared to Wealth and Select credit cards that are presented as mid-range or premium IDFC FIRST cards catering to high income individuals but come with a similar value-back via their rewards program.

Joining Benefits

Cardholders can avail the following joining benefits on this credit card:

• Spend Rs. 5,000 or more in the first 90 days and get a Rs. 500 gift voucher
• 5% cashback of up to Rs. 1,000 on the 1st EMI transaction made within 30 days of card generation

The joining benefits offered by IDFC FIRST Millennia card come with certain spending conditions due to which some cardholders may not be able to utilise this bonus to its maximum capacity. However, you must take into consideration the fact that despite being a lifetime-free entry-level card, IDFC FIRST Millennia offers joining benefits worth up to Rs. 1,500. This is a great feature when compared to other entry-level credit cards like HDFC MoneyBack+ which either match the value of their joining benefit to that of their annual fee or do not offer any such bonus at all.

Other Features

IDFC FIRST Millennia Credit Card comes with merchant offers throughout the year along with the following additional benefits:

• Movies: 25% off up to Rs. 100 on movie tickets booked through Paytm mobile app
• Dining: Up to 20% discount at more than 1,500 partner restaurants
• Railway Lounge: 4 complimentary railway lounge visits per calendar quarter
• Fuel: 1% fuel surcharge waiver up to Rs. 200 per month on fuel spends of Rs. 200 to Rs. 5,000
• Health: Up to 15% off at select health and wellness outlets
• Insurance: Personal accident cover of up to Rs. 2 lakh and lost card liability cover of up to Rs. 25,000
• Roadside Assistance: Complimentary roadside assistance service worth Rs. 1,399

The IDFC FIRST Millennia is a rewards credit card with up to 10X rewards on reaching the monthly spending threshold of Rs. 20,000. This credit card is free for life and can be a valuable addition to your wallet while beginning your credit card journey. Previously, online shoppers could also consider applying for this card as it offered a higher reward rate of 6X points on online spends. However, the recent revisions in the rewards structure have changed this, and now both online and offline purchases earn 3X reward points.

You can consider getting this card if:

• You want to get a lifetime-free credit card with rewards benefits of up to 2.5%
• You want joining benefits worth more than the card fee 
• You will be able to make monthly spends of Rs. 20,000 or more to maximise on your rewards earnings
• You do not have a brand/merchant preference for your purchases
• You wish to redeem your earned rewards directly at online or in-store merchants
• You want a card with complimentary access to railway lounges
• You want movie discount benefits
• You don’t mind paying the additional card fee for UPI spends related rewards benefits
• You want a card that offers dining discount

You should look for other card options if:

• You do not mind paying card annual fee for more extensive card benefits
• You are looking for accelerated benefits on certain spending categories or brands
• You wish to get complimentary airport lounge access
• You prefer earn cashback or get direct discount over reward points
• You want better rewards benefits on fuel, utilities, education and other such categories that are excluded from Millennia credit card rewards program
• You want better redemption value of your reward points with option to redeem against credit statement