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Features of IDFC FIRST Select Credit Card
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Lifetime-Free with No Hidden Fees:
One of the most compelling features of the IDFC FIRST Select Credit Card is that it is lifetime-free, meaning there are no joining, annual, or membership fees. This eliminates the recurring costs typically associated with premium credit cards, making it an attractive option for cost-conscious consumers who still want access to high-end benefits. -
Robust Reward Points Program:
The card's reward points program is a cornerstone of its appeal, offering accelerated earning potential across various spending categories. Earn 10X reward points on spends exceeding ₹20,000 per statement cycle and on all transactions on your birthday. Get 3X reward points on both online and offline purchases up to ₹20,000 per statement cycle, covering everyday transactions. -
Complimentary Lounge Access:
Travel enthusiasts will appreciate the card's lounge access benefits. Enjoy 2 complimentary domestic airport lounge visits per quarter, provided you spend ₹20,000 in the previous month. Get 4 complimentary railway lounge visits per quarter, enhancing the travel experience for those using India's extensive railway network.
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- Contactless Payment Support: The IDFC FIRST Instant Gratification Credit Card supports contactless transactions, allowing users to make quick and secure payments by simply tapping their card at compatible POS terminals. This feature, which must be activated via the bank’s mobile app or net banking portal, enhances convenience for everyday transactions, such as grocery shopping or dining. The contactless feature aligns with modern payment trends, offering a seamless and hygienic payment experience.
- UPI Integration for Digital Payments: In line with India’s digital payment revolution, the card can be linked to UPI apps, enabling cardholders to make instant payments at over 60 million merchants. Users can earn 1% cashback on UPI transactions made through the IDFC FIRST Bank mobile app, with additional rewards on third-party UPI apps. This feature caters to tech-savvy users who prefer UPI for small-ticket transactions, combining the convenience of digital payments with credit card benefits.
- Complimentary Lounge Access: The card provides complimentary lounge access to both domestic and international airport lounges. Cardholders can enjoy up to four lounge visits per quarter by meeting a minimum spend requirement of ₹20,000 in the previous calendar month. This feature is a boon for frequent travelers, offering a comfortable and luxurious experience at airports, complete with amenities like free Wi-Fi, food, and beverages.
- Movie and Dining Discounts: Entertainment enthusiasts will appreciate the card’s movie ticket offers, which include a 25% discount (up to ₹100) on tickets booked via the Paytm mobile app or Zomato’s District app, available once per month. Additionally, cardholders can enjoy up to 20% off at over 1,500 partner restaurants across India, making dining out more rewarding. These discounts enhance the card’s appeal for lifestyle-focused users.
- Comprehensive Insurance Coverage:
The card comes with extensive insurance benefits, including:
- Personal accident cover of up to ₹10 lakh.
- Lost card liability cover of up to ₹50,000.
- Travel insurance covering loss of passport, flight delays, and baggage issues.
- Complimentary roadside assistance worth ₹1,399, available up to four times a year.
- Low and Dynamic Interest Rates: The card offers low interest rates, starting at 0.75% per month (9% per annum) and going up to 3.99% per month, depending on factors like credit score and repayment behavior. This is significantly lower than the industry average of 3–4% per month, making it easier for cardholders to manage outstanding balances without incurring excessive interest charges.
- Instant EMI Conversion: For high-value purchases, the card allows instant EMI conversion on transactions as low as ₹2,500. Cardholders can choose flexible tenures ranging from 3 to 48 months, with interest rates starting at 1% per month. This feature is particularly useful for big-ticket purchases like electronics or travel bookings, enabling users to spread payments over time without straining their finances.
- Robust Mobile Banking Integration:
The IDFC FIRST Bank mobile app enhances the card’s functionality by offering features like:
- Real-time transaction tracking and statement downloads.
- Card control settings to manage online, contactless, and international transactions.
- Autopay setup for hassle-free bill payments.
- Reward point redemption through an intuitive portal.
- Welcome Benefits:
New cardholders are greeted with welcome benefits, including:
- A ₹500 gift voucher from brands like Amazon, Uber, or Bigbasket upon spending ₹5,000 within 30 days of card issuance.
- 5% cashback (up to ₹1,000) on the first EMI transaction within 30 days.
- Fuel Surcharge Waiver: The card offers a 1% fuel surcharge waiver on fuel transactions, helping cardholders save on fuel expenses. This feature is particularly beneficial for frequent drivers, as it reduces the cost of refueling at petrol pumps across India.
- Secured Credit Card Option: For those with limited credit history, the card can be availed as a secured credit card against a fixed deposit of ₹5,000 or more. This option, known as the FIRST EA₹N Credit Card, provides a credit limit equal to 100% of the FD amount while earning interest of up to 7.25% per annum. This feature makes the card accessible to a broader audience, including those new to credit.
- Customizable Card Controls: Cardholders can customize card settings through the mobile app or net banking, enabling or disabling features like international transactions, online payments, or contactless payments. This level of control enhances security and allows users to tailor the card to their specific needs.
- Eco-Friendly Card Design: The card’s new design, introduced for cards issued from December 24, 2024, is inspired by customer journeys and milestones. Made from sustainable materials, it reflects IDFC FIRST Bank’s commitment to eco-friendly banking without compromising on aesthetics or functionality.
- 24/7 Customer Support: The card is backed by 24/7 customer support via the bank’s toll-free number and email. This ensures that cardholders can resolve issues or seek assistance at any time, enhancing the overall user experience.
- Integration with Wearable Devices: The card supports integration with wearable payment devices, allowing users to make contactless payments via smartwatches or fitness bands. This futuristic feature caters to tech enthusiasts who prefer innovative payment methods.
- Transparent Billing and Statements: The card offers transparent billing with clear, detailed statements accessible via the mobile app or net banking. Cardholders can track their spending, rewards, and dues effortlessly, ensuring there are no hidden charges or surprises.
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- Travel and Lounge Access Benefits:
- Domestic Airport Lounges: Two free visits per quarter to domestic airport lounges, activated by spending ₹20,000 in the previous month, provide a comfortable pre-flight experience.
- Railway Lounges: Four complimentary railway lounge visits per quarter, with no minimum spend requirement, make train travel more enjoyable.
- These benefits are ideal for frequent travelers, offering relaxation and convenience at no additional cost.
- Entertainment and Lifestyle Perks:
- Movie Ticket Offers: Buy One, Get One offer on movie tickets (up to ₹125) twice a month through Paytm or Zomato’s District app saves on entertainment costs.
- Dining Discounts: Up to 20% off at over 1,500 partner restaurants and 15% off at 3,000+ health and wellness outlets make dining and self-care more affordable.
- These perks align with the modern consumer’s desire for experiential spending, ensuring savings on leisure activities.
- Welcome Benefits:
- Gift Vouchers: Receive ₹500 worth of gift vouchers upon spending ₹15,000 within 90 days of card issuance.
- EMI Cashback: Get 5% cashback (up to ₹1,000) on the first EMI transaction within 90 days, encouraging early use of the card’s EMI feature.
- These introductory offers provide immediate value, incentivizing cardholders to start using the card actively.
- Insurance and Security:
- Air and Personal Accident Cover: Up to ₹1 crore for air accidents and ₹5,00,000 for personal accidents protect cardholders and their families.
- Travel Insurance: Coverage for baggage loss, flight delays, and document loss ensures worry-free travel.
- Lost Card Liability: Up to ₹50,000 in coverage for unauthorized transactions safeguards against fraud.
- These benefits are particularly valuable for frequent travelers or those concerned about financial security.
- Fuel and Roadside Assistance Savings:
- 1% fuel surcharge waiver (up to ₹300 per statement cycle) reduces fuel expenses, benefiting daily commuters and road trippers.
- Complimentary roadside assistance worth ₹1,399 provides support for vehicle breakdowns, enhancing safety and convenience for cardholders who drive frequently.
- International Transaction Savings:
- Low forex markup fee of 1.99%, making it cost-effective for international transactions, whether for travel, online shopping, or business expenses abroad.
- This benefit is particularly appealing for globetrotters and those who frequently shop on international platforms.
- Flexible Repayment Options:
- EMI conversion feature allows cardholders to spread out large purchases (above ₹2,500) over 3 to 18 months, making big-ticket items more affordable.
- Balance transfer privilege helps manage debt by consolidating high-interest credit card balances at lower rates, with flexible EMI tenures.
- Concierge Services:
- 24/7 concierge services assist with travel bookings, dining reservations, and event planning.
- This benefit saves time and enhances the cardholder’s lifestyle, particularly for those with busy schedules.
- UPI and Contactless Convenience:
- Supports UPI payments through a virtual RuPay add-on card, earning 3X reward points on UPI transactions.
- Contactless payment capability ensures quick and secure in-store transactions, aligning with the growing trend of digital payments.
- Post-Devaluation Considerations:
- Following the reward program devaluation effective May 1, 2024, the card’s reward structure has become less competitive for some users, particularly high spenders.
- However, the lifetime-free nature and diverse benefits still make it a compelling choice for those seeking a versatile, cost-effective credit card.
- Conclusion: The IDFC FIRST Select Credit Card’s benefits combine savings, rewards, and lifestyle perks, making it a valuable tool for managing finances and enhancing everyday experiences.
- Travel and Lounge Access Benefits: