IDFC FIRST Select Credit Card: Unlock Premium Benefits

Overview of the IDFC FIRST Bank Select Credit Card

The IDFC FIRST Bank Select Credit Card is an attractive option for those seeking a rewarding credit card experience without the burden of annual fees. This lifetime-free card offers a range of benefits, making it a cost-effective choice for savvy consumers. With a robust reward points programme, cardholders can earn and redeem points in various ways, maximising the value of their spending.

One of the key advantages of the IDFC FIRST Bank Select Credit Card is its low interest rates, which are linked to the cardholder's credit score. Starting from as low as 0.75% per month (9% annually) and going up to 3.5% per month (42% annually), these rates provide flexibility and affordability. Additionally, the card allows for interest-free ATM cash withdrawals for up to 48 days and easy EMI conversions for transactions above ₹2,500, offering convenience and financial management options.

Benefits & Features of IDFC FIRST Bank Select Credit Card

The IDFC FIRST Bank Select Credit Card comes with a host of benefits and features that make it an appealing choice for cardholders. Let's take a closer look at the welcome benefits and other perks in detail.

Welcome Benefits

Upon receiving the IDFC FIRST Bank Select Credit Card, cardholders can enjoy the following welcome benefits:

Welcome Voucher: By spending ₹5,000 or more within 30 days of card generation, cardholders receive a welcome voucher worth ₹500. However, for customers who received their cards after 9th October 2023, the offer has been revised, requiring a spend of ₹15,000 within 90 days to avail the voucher.
Cashback on First EMI: Cardholders can earn a 5% cashback, up to ₹1,000, on the transaction value of their first EMI done within 30 days of card generation.

Other Benefits

The IDFC FIRST Bank Select Credit Card offers a wide array of benefits beyond the welcome perks, ensuring cardholders can make the most of their spending.

Reward Points Program

The card's reward points programme is designed to offer maximum value, with points that never expire:

10X Reward Points on online spends and on the cardholder's birthday.
6X Reward Points on all offline spends above ₹20,000 per billing cycle.
3X Reward Points on spends up to ₹20,000 per billing cycle.
1X Reward Points on insurance premium and utility bill payments (these do not count towards the 10X threshold).

Travel Benefits

For frequent travellers, the IDFC FIRST Bank Select Credit Card offers several attractive benefits:

Complimentary Lounge Access: Cardholders can enjoy 4 complimentary domestic airport lounge visits and 4 railway lounge visits per quarter, subject to spending ₹20,000 in the previous month.
Trip Cancellation Cover: The card provides up to ₹10,000 cover for trip cancellations on hotel and flight bookings.
Fuel Surcharge Waiver: Cardholders can avail up to ₹300 per month waiver on fuel transactions at petrol pumps across India.

Dining and Movie Offers

The IDFC FIRST Bank Select Credit Card also caters to lifestyle benefits, such as:

Dining Discounts: Cardholders can enjoy up to 20% discounts across 1,500 restaurants.
Movie Offers: The card offers a Buy One Get One movie ticket offer on the PayTM app, up to ₹250 twice per month.

Health and Wellness Benefits

Discounts at Health and Wellness Outlets: Cardholders can avail up to 15% discounts at over 3,000 health and wellness outlets.

Financial Benefits

The IDFC FIRST Bank Select Credit Card also provides several financial benefits:

Low Forex Markup: Cardholders can enjoy a low 1.99% forex markup on international transactions.
Interest-Free Cash Withdrawal: The card allows for interest-free ATM cash withdrawals for up to 48 days.
EMI Conversion: Cardholders can convert big transactions into easy EMIs with flexible tenures of 3-18 months.

Key Highlights of IDFC FIRST Bank Select Credit Card

Lifetime Free: Enjoy the benefits of the IDFC FIRST Bank Select Credit Card without any joining or annual fees, making it a cost-effective choice for your financial needs.
Reward Points: Earn up to 10X Reward Points on various transactions, with points that never expire. Redeem your reward points for online or in-store purchases, giving you flexibility in how you use them. Here's a breakdown of the reward points structure:
- 10X Reward Points on online spends and on your birthday.
- 6X Reward Points on all offline spends above ₹20,000 per billing cycle.
- 3X Reward Points on spends up to ₹20,000 per billing cycle.
- 1X Reward Points on insurance premiums and utility bill payments.
Travel Benefits: Enjoy complimentary access to 4 domestic airport lounge visits and 4 railway lounge visits per quarter, provided you spend at least ₹20,000 in the previous month. These benefits make your travel experiences more comfortable and rewarding.
Low Forex Markup: When making international transactions, take advantage of the low foreign transaction fee of just 1.99%, allowing you to save on costs while using your card abroad.
Interest-Free Cash Withdrawal: Withdraw cash from ATMs without incurring interest charges for up to 48 days, providing you with flexibility and convenience when you need it most.

In addition to these key highlights, the IDFC FIRST Bank Select Credit Card offers a range of fees and charges that are important to understand.

Fees and Charges of the IDFC FIRST Bank Select Credit Card

Fee Type	Amount/Rate
Joining Fee	Free
Annual Fee	Free
Add-on Card Fee	Free
Minimum Repayment Amount	5% of the total amount due
Cash Withdrawal Fee	₹199
Foreign Transaction Fee	1.99%
Over Limit Penalty	2.50%
Fuel Transaction Surcharge	1%
Reward Point Value	₹0.25 per reward point
Any Amount Due	15% of the total amount due (min ₹100, max ₹1250)
Card Replacement Fee	₹100
Interest Rate	Starting at 0.75% per month (9% annually), up to 3.5% per month (42% annually)

By familiarising yourself with these fees and charges, you can make informed decisions about how you use your IDFC FIRST Bank Select Credit Card.

Eligibility of IDFC FIRST Bank Select Credit Card

Age Requirement: To apply for the IDFC FIRST Bank Select Credit Card, you must be at least 21 years old.
Income Criteria: While the exact income threshold is not specified, it is generally recommended to have a consistent record of income and employment. An annual income of around ₹12 lakh or more is often suggested for premium credit cards, but this can vary depending on the issuer's policies.
Credit Score: Maintaining a good credit score is crucial when applying for any credit card. For the IDFC FIRST Bank Select Credit Card, it is advisable to have a credit score of 750 or higher out of 900, demonstrating your financial responsibility and creditworthiness.

By meeting these eligibility criteria, you increase your chances of being approved for the IDFC FIRST Bank Select Credit Card and can start enjoying its various benefits and features.

Card Activation Process

Online Activation: Log in to your IDFC FIRST Bank internet banking account or the mobile app, navigate to the credit card section, and select the option to activate your card. Follow the prompts and enter the required details, such as the card number, expiration date, and CVV code.
Phone Activation: Call the IDFC FIRST Bank customer care number at 1860 500 9900 and provide the necessary details to the customer service representative. You may be asked to verify your identity and provide card details for security purposes.
Branch Activation: Visit any IDFC FIRST Bank branch with your credit card and a valid government-issued ID. Inform the bank staff that you need to activate your credit card, and they will guide you through the process.

Once your card is activated, you can start using it for purchases and enjoying the various benefits and rewards that come with the IDFC FIRST Bank Select Credit Card.

How to Redeem the Points

The IDFC FIRST Bank Select Credit Card offers a variety of ways to redeem your reward points, making it easy to enjoy the benefits of your card:

Online Redemption: Log in to your IDFC FIRST Bank internet banking account or the mobile app, go to the rewards section, and select the option to redeem your points. You can use your points to pay for online transactions, purchase products, or book services directly through the bank's platform. The reward points are as good as cash and can be redeemed with a single click on eligible transactions.
Against Statement Balance: You can redeem your reward points to offset your credit card statement balance. This can be done through the online banking portal or the mobile app by selecting the option to redeem points against your outstanding balance.
Merchandise and Experiences: Browse the bank's rewards catalogue and redeem your points for a variety of merchandise, travel bookings, dining experiences, and other services. Simply select the item or service you want and use your points to make the purchase.
EMI Conversion: While not a direct redemption, you can use your points to offset EMI transactions. If you have converted purchases into EMIs, you can use your accumulated points to reduce the EMI amount, thereby reducing your financial burden.

With these convenient redemption options, you can make the most of your reward points and enjoy the perks of being an IDFC FIRST Bank Select Credit Card holder.