The card offers up to 10 reward points per Rs. 150 for monthly spends beyond Rs. 20,000. If you do not reach the Rs. 20,000 threshold, you earn just 3 points, which is quite a low earning rate for a premium credit card. Additionally, the accumulated rewards can be redeemed at the rate of 1 reward point = Rs. 0.25. For a ‘premium’ card, this redemption value is low, besides there are no noteworthy redemption options such as air miles, travel partners or exclusive catalogues, further making it less competitive compared to other cards in this category.
IDFC FIRST
IDFC FIRST Wealth Credit Card
Travel
Reward Points
Rewards
10X rewards on monthly spends above Rs. 20,000
Cashback
5% cashback on first EMI transaction
Lounge Access
Up to 4 airport lounge visits per quarter
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About IDFC FIRST Wealth Credit Card
IDFC FIRST Wealth is a credit card that targets high-earning consumers (income eligibility is Rs 36 Lakh), but is lifetime free. The card has 2 clear benefits – one that it is lifetime free and its reward points do not expire – a feature usually available on premium cards. Complimentary lounge access, golf benefits and low forex mark-up are some more features that add to its value. However, IDFC First Wealth’s initial offerings have been significantly downgraded with time. High-earners who do not want to pay any annual fees and are satisfied with rewards akin to an entry-level card can consider getting IDFC FIRST Wealth. Otherwise, cards like HDFC Diners Club Black, HDFC Regalia Gold and SBI Card Elite offer much higher value, albeit at an annual fee (ranging from Rs 2500 to Rs 10,000).
IDFC FIRST Wealth Rewards Program
Through this card, consumers can earn reward points at the rates shown below:
- 3x rewards on online and offline purchases for spends up to Rs. 20,000 per month1
- 10x rewards on incremental spends above Rs. 20,000 per month2 and on birthday spends
- 3x rewards on rental and property management transactions
- 3x rewards on education, wallet load & government services spends
- 1x rewards on utility bill payments3 and insurance spends
- 1x= 1 reward point per Rs. 150
Other Features and Benefits
Apart from its incremental rewards structure, IDFC FIRST Wealth Credit Card comes with the following benefits:
Welcome Benefits
- Gift vouchers worth Rs. 500 on spending Rs. 15,000 within 90 days of card set-up
- 5% cashback (up to Rs. 1,000) on your first EMI transaction within 90 days of card set-up
Lounge Access4
- 2 complimentary domestic airport spas & lounges visits per quarter
- 2 complimentary visits to international airport lounges per quarter
- 4 complimentary railway lounge visits at select stations
Travel Benefits and Insurance Cover
- Low forex mark-up fee of 1.5%
- Air Accident Cover of Rs. 1 crore, Personal Accident Cover of Rs. 10,00,000 and Lost Card Liability Cover of Rs. 50,000
Fees and Charges
| Particulars | Amount |
|---|---|
| Joining/Annual Fee | Nil |
| Annual Fee | Rs. 10,000 |
| Finance Charges | Starting from 8.5% p.a. to 46.2% p.a. |
| Forex Markup Fee | 1.5% |
| 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 that caters to multiple spending categories
You can spend more than Rs. 20,000 every month, to unlock all additional benefits
You are a high spender and can easily maximize the unlimited incremental rewards offered on the card
You value travel and lifestyle benefits like lounge access, low forex mark-up fee, golf access, etc.
Eligibility Criteria
Occupation: Salaried or Self-employed
Age: Between 21 and 65 years
Minimum Income: Rs. 36 Lakh per annum
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What do we like about this card?
The best thing about IDFC FIRST Wealth Credit Card is that it is a lifetime-free card. High-spenders, particularly those who spend more than Rs. 20,000 per month through this card, can maximize all the benefits- lounge access, golf and incremental reward rate. With a low forex mark-up fee of 1.5%, the card can also be a good addition to your wallet when travelling abroad. Moreover, the card also earns reward points on rent, education, wallet load, utility and insurance spends – categories that are generally excluded from credit card rewards programs.
Pros
- Lifetime free credit card with up to Rs. 1,500 worth of joining benefits
- Unlimited accelerated reward points on every spend, making it good for high-spenders
- Low forex mark-up of just 1.5%
- Complimentary lifestyle benefits & services like golf rounds, dining & movie discounts, airport assistance, & worldwide lounge access
Cons
- Low reward redemption value of Rs. 0.25 and limited redemption options
- 10X reward rate only applicable after reaching monthly spends of Rs. 20,000
- Base reward rate is quite low for a premium card
- Lounge access is subject to meeting monthly spending thresholds
Conclusion
Initially, the card stood out as a strong lifetime-free option. However, after the May 2024 devaluation, it lost key perks—accelerated rewards on online spends were discontinued, and the base reward rate was reduced, making it less competitive among premium cards. While lounge access feature is still there, it requires card users to spend Rs. 20,000 in the previous month. Given its tiered rewards structure, this card is best suited for those consistently meeting that threshold to unlock its full value.
Frequently Asked Questions
Everything you need to know about this credit card
You can directly use the rewards points to pay for your online purchases or while shopping at a store. To pay directly with points, you can choose the ‘pay with points’ option. You can also redeem your reward points against vouchers through IDFC FIRST Bank’s net banking or mobile app.
In case of any issues with your IDFC FIRST Wealth Credit Card, you can contact the customer care at 1800 10 888.
Yes, you can convert the outstanding balance on your IDFC FIRST Credit Card in EMIs for tenure ranging between 3 to 18 months.
With your IDFC FIRST Wealth Visa Credit Card, you can separately apply for a Rupay variant. The Rupay Card can be linked to UPI Apps, and on all UPI spends, you can earn 3X reward points. However, the Rupay Variant is available at an annual fee of Rs. 199.
The reward rate on all 3 cards is the same. However, they differ in terms of lounge access, movie and other lifestyle benefits.
Footnotes
- Fuel, Insurance, EMI transactions (only the first EMI transaction is valid for cashback benefit) & Cash withdrawals transactions are not eligible for reward points earning.
- Education, wallet load & government services spends will not be considered for 10X reward points threshold calculation.
- 1% transaction charge on utility bill payments above Rs. 20,000 in a billing cycle
- Domestic airport, international airport and railway lounge access benefit will be eligible only on spending Rs. 20,000 or more in the preceding month
Click here to know More Terms and Conditions
Rupanshi Thapa
Rupanshi is a personal finance writer, specializing in credit cards and consumer finance. Her work is committed to helping readers navigate the complex world of credit with confidence– whether they are selecting the right credit card, optimizings rewards, managing debt, or improving their financial well-being. Through her detailed insights and actionable advice, she guides readers towards smarter financial choices.
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