IDFC FIRST Select Credit Card
Shopping
Reward Points
Rewards
Up to 10 reward points per Rs. 150 spent
Travel
Low forex markup fee of Rs. 1.99%
Movies
Buy 1 Get 1 movie ticket offer
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About IDFC FIRST Select Credit Card
The IDFC FIRST Select Credit Card is best suited for those who are looking for a lifetime-free credit card offering multiple benefits. The card offers good rewards on both online and offline spends beyond monthly spends of Rs. 20,000. If you are a decent spender, extracting the maximum benefit could be tedious, but for heavy spenders, this could be easy. The card offers a low reward return of Rs. 0.25 per point, but reward points utilization is somewhat balanced via the unlimited reward points feature that comes without any capping and expiry limit.
The major drawback of this credit card is that even when the card offers a low forex markup, it does not offer any other international travel benefits; therefore, the premium type travel benefits bar is not matched. However, access to domestic railway and airport lounges, along with travel covers, makes it a suitable option for people who frequently travel within India.
With the high income eligibility of Rs. 12 Lakh per annum, it competes with other semi-premium cards that target a similar customer segment. Though a strong contender earlier, post the May 2024 devaluation, the card experienced changes in its rewards program and lifestyle benefits. Now, the rewards structure on the card is not so good for the customer segment and card league it targets. Not only is the redemption value low, but users do not have any strong redemption options except general redemption against the product catalog. The card, however, covers some everyday transactions like wallet reloads and utility bills for rewards, which is good as these transactions are often excluded. For those glued to this card for its lifetime free feature, the reward benefits are just fairly decent. The movies and lounge access benefit has been reduced with spend-based conditions on the latter. That way, users can derive the maximum benefit by putting most of their monthly expenses on the card—spending above Rs. 20,000 per month could fetch 10x rewards along with complimentary lounge access; otherwise, the derivable benefits are minimal.
Note: This card is not available on Paisabazaar.com. The content on this page is for information only. To express interest in this card, please visit IDFC FIRST Bank’s website.
Rewards Program:
- 10x rewards on incremental purchases greater than Rs. 20,000 per billing cycle
- 10x rewards on Birthday spends
- 3x rewards on all online purchases up to monthly spends of Rs. 20,000
- 1x rewards on utility spends (charges of 1% of the transaction value are applicable on utility spends of more than Rs. 20,000 in a billing cycle)
- 3x reward points on education, wallet load & government services spends, (these are not considered for 10x reward points calculation)
- 1x = 1 reward point per Rs. 150 spent, with value of 1 reward point = Rs. 0.25
Travel and Other Lifestyle Benefits:
- Complimentary domestic airport lounge access (2 per quarter, subject to spending Rs. 20,000 in the previous month)
- Complimentary railway lounge access (4 per quarter)
- Low foreign exchange mark-up fee of 1.99%
- Buy 1 Get 1 offer on movie tickets of up to Rs. 125 (twice per month)
- Comprehensive Travel Insurance Cover of Rs. 22,500 (Loss of Checked-In Baggage – Rs. 7,500; Delay of Checked-In Baggage Rs. 5,000; Loss of Passport and other documents – Rs. 5,000; Delay in Flight- Rs. 5,000)
- Personal Accident cover of Rs. 5 Lakh & Complimentary Lost Card Liability cover of Rs. 50,000
- Fuel surcharge waiver at all fuel stations across India up to Rs. 300 every month
- Interest-free cash withdrawal from ATMs for up to 48 days
IDFC FIRST Select: Fees & Charges
| Fee Type | Amount |
|---|---|
| Joining / Annual Fee | Nil |
| Interest Rate / Finance Charges | 0.75% to 3.65% per month, or 9% to 43.8% p.a |
| Late Payment Fee | 15% of the unpaid dues, subject to min. of Rs. 100 & max. of Rs. 1,300 |
Things to Know Before you apply
Get this card if:
You want a lifetime free credit card
Your monthly cards spends are beyond Rs. 20,000
You own another credit card with international travel benefits
Other All-round Credit Cards:
Axis Bank Select
HDFC Regalia Gold
SBI Card Elite
Paisabazaar Review
What do we like about this card?
Covering benefits across multiple categories, IDFC FIRST Select Credit Card can be a suitable choice for those seeking all-round benefits at a zero-annual fee. The card offers exceptionally good features for a lifetime free credit card, like a low forex markup fee, unlimited rewards, and inclusion of utilities and rent payments in the rewards program. It stands out with perks like benefits on EMI transactions as an introductory benefit, with 5% cashback up to Rs. 1,000—a rare feature, not offered by many cards—and lifestyle benefits around movies and travel.
Pros
- Lifetime-free credit card with up to Rs. 1,500 worth of joining benefits
- Accelerated reward points without any category restrictions
- Low forex markup fee of 1.99%
- Complimentary airport and railway lounge access
- Accelerated rewards on birthdays
- Rewards on utility bill payments and wallet reloads
Cons
- Low reward redemption value at 1 RP = Rs. 0.25
- No lounge access benefits
- Low reward rate, specially for cumulative spends below Rs. 20,000
- Limited redemption options
Conclusion
For a lifetime free credit card, IDFC FIRST Select is a decent choice; however, those seeking premium-type benefits on the card can find better options. If you meet the eligibility criteria of Rs. 12 lakh per annum and are comfortable paying a fee for premium benefits, SBI Elite, HDFC Diners Club Privilege, and HDFC Regalia Gold are some options to consider.
Frequently Asked Questions
Everything you need to know about this credit card
Individuals who earn an annual income of more than Rs. 12 Lakh can apply for this card.
There is no expiry date for the reward points earned using your IDFC FIRST Select Credit Card.
GST will be levied at the rate of 18% on fees and charges and interest rates applicable to your card.
For all transactions in India, yes, you will be asked for a PIN for completing the transactions. However, outside India, you will be asked for the PIN only if the POS terminal is enabled for PIN authentication.
Your e-statement will be sent to you on your registered e-mail ID and via SMS on your registered mobile number.
To Generate Credit Card PIN, click https://idfcfir.st/ccpin or call 1860 500 1111.
Footnotes
- Reward points earning and 10x threshold not applicable on fuel, EMI, insurance transactions and cash withdrawals.
- Education, wallet load & government services transactions will also not be calculated for incremental spending threshold calculation.
Click here to know More Terms and Conditions
Megha Khanna
Megha is an experienced writer with a specialization in credit cards and personal finance. With a keen eye for detail and a passion for helping readers make informed financial choices, she creates engaging content that demystifies the complexities of credit cards, from rewards and benefits to interest rates and fees.
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