- Introduction
- Generous Rewards Program
- Feature’s and Benefit’s of IDFC FIRST Classic Credit Card
- Other Benefits
- Flexible Credit Limit
- IDFC FIRST Classic Credit Card Fees and Charges
- Eligibility Criteria for IDFC FIRST Classic Credit Card
- How To Apply For The IDFC FIRST Classic Credit Card?
- Conclusion
- FAQ’s
- READ MORE:
Introduction
In today’s fast-paced world, credit cards have become an essential tool for managing our finances efficiently. With a multitude of options available, choosing the right credit card can be overwhelming. One card that deserves attention is the IDFC FIRST Classic Credit Card. In this review, we will delve into the key features, benefits, and potential drawbacks of this card to help you make an informed decision.
Generous Rewards Program
One of the standout features of the IDFC FIRST Classic Credit Card is its rewards program. Cardholders can earn attractive rewards on their everyday expenses. With every purchase, you can accumulate reward points that can be redeemed for a variety of options such as flight bookings, hotel stays, merchandise, and more. This rewards program makes the card appealing for individuals who want to maximize the benefits of their spending.
IDFC FIRST Classic Credit Card users can earn 10x reward points on all spends above Rs.20,000. Unlimited reward points can be accumulated under the IDFC FIRST Classic Credit Card rewards program,
1x = 1 reward point per Rs.150 spent | 1 reward point = Rs. 0.25
- 10x reward points on all spend above Rs.20,000
- 6x reward points on online spends
- 3x reward points on offline spends
- 10x rewards on all spend done on Birthday
- The reward points accrued are never expiring, unlimited, and easy to redeem
Please Note: Reward points cannot be earned on fuel, EMI, insurance transactions, and cash withdrawals.
Feature’s and Benefit’s of IDFC FIRST Classic Credit Card
| Joining Benefits | Gift voucher of Rs.500 given on spending Rs.15,000 within the first 3 months of card issuance. 5% cashback on the first EMI transaction done within the first 90 days of card issuance. |
| Reward Point Benefits | 10x reward points on all purchases greater than Rs.20,000. 3x reward points given on all offline spends. For online spends, 6x reward points given. 10x reward points given on all expenses made on your birthday. |
| Entertainment Benefits | 25% discount on movie tickets up to Rs.100. Will be valid once a month. |
| Travel Benefits | 4 complimentary visits to the Railway lounges per quarter. |
| Fuel Benefits | 1% fuel surcharge waiver at all petrol pumps up to Rs.200 per month. |
| Insurance Benefits | 1)Personal Accident Cover of up to Rs.2 lakh. 2)Complimentary lost card liability cover of Rs.25,000. |
| Other Benefits | Free Road Side Assistance worth Rs.1,399. Low interest rate starting at 9% per annum. Interest-free cash withdrawal from ATMs for up to 48 days. |
Other Benefits
Some of the other IDFC Classic Credit Card benefits are listed below:
- Get a monthly 25% discount (up to Rs.100) on purchase of movie ticket
- Enjoy 4 complimentary Railway lounge visits every quarter
- Fuel surcharge waiver at all fuel stations across India up to Rs.200 every month
- Personal Accident Cover worth Rs.2 Lakh (applicable after at least 1 transaction in the previous month) & complimentary lost card liability cover of Rs.25,000
- Free Road Side Assistance (RSA) worth Rs.1,399
- Zero over-limit fees, zero add-on charges, and zero reward redemption fees
Rewards Redemption
- The Reward Points you earn can be redeemed easily & instantly on online transactions or at partner stores.
- 1 Reward Point = Rs. 0.25.
- The IDFC FIRST Classic Credit Card charges a convenience fee of Rs. 99 plus taxes for reward redemption.
Flexible Credit Limit
The IDFC FIRST Classic Credit Card provides a flexible credit limit, tailored to your financial profile and creditworthiness. This allows you to have a suitable spending limit that aligns with your needs and helps you maintain control over your expenses.
The credit limit for the IDFC First Credit Card is assigned by the bank. IDFC First Bank takes many factors into consideration before assigning the limit such as the credit score of the applicant, the repayment habits of past debts along with the credit utilisation ratio of the applicant.
IDFC FIRST Classic Credit Card Fees and Charges
| Type of Charge | Amount |
| Joining Fee | Nil |
| Annual Fee | Nil |
| Finance charges | 0.75% – 2.99% per month |
| Rewards redemption fee | Nil |
| Cash advance fee | Rs.250 |
| Late payment fee | 15% of the total amount due (subjected to a minimum of Rs.100 and a maximum of Rs.1,000) |
| Over-limit charges | Nil |
| Outstation cheque processing fee | Nil |
| Card replacement fee | Rs.100 |
| Charge slip request | Nil |
| Foreign currency markup | 3.5% |
| Fuel surcharge | 1% of the transaction value |
Eligibility Criteria for IDFC FIRST Classic Credit Card
| Credit Score | Having a good credit score can increase your chances to be eligible for the card. |
| Age | He or she must be at least 18 years old. |
| Nationality | The primary applicant must be a citizen of India. |
| Employment status | The applicant must be salaried or self-employed. |
How To Apply For The IDFC FIRST Classic Credit Card?
You can apply for the IDFC First Classic Credit Card online as well as offline at your convenience. To apply offline, visit your nearest IDFC First Bank branch with all the required documents and apply for the card by filling out the physical application form. To apply online, you will have to follow a few simple steps as mentioned below:
- Visit the IDFC First Bank’s official website.
- Click on the option ‘Credit Cards.’
- Click on the option ‘Classic.’
- Now, click on Apply Now and proceed further by filling in all the required details.
Conclusion
The IDFC FIRST Classic Credit Card presents a compelling option for individuals seeking a reliable credit card for their everyday expenses. With its hassle-free application process, generous rewards program, competitive interest rates, and flexible credit limit, the card provides a comprehensive package of benefits. While it’s important to consider the limited acceptance and annual fee, the overall advantages make it a viable choice for those looking to optimize their financial management.
FAQ’s
Do I get complimentary airport lounge access through this card?
No, the IDFC FIRST Classic Credit Card doesn’t provide any complimentary airport lounge access, but you get 4 complimentary Railway lounge access every quarter.
When do these Reward points expire?
The Reward Points you earn using your IDFC FIRST Classic Credit Card do not expire ever.
How can I generate my credit card PIN?
To generate the PIN of the IDFC First Classic Credit Card, you can either log in to your net banking account or your mobile banking account. If not, you can call the customer care of the bank to generate or change your PIN.
How much is the value of 1 reward point?
Each reward point amounts to Rs.0.25 or 25 paise.
Which IDFC Classic Credit Card transactions can I convert into EMI?
Transactions that are over Rs. 2,500 can be converted into EMI post-purchases.
What is foreign exchange markup fee on IDFC Classic Credit Card ?
Every time you make payment in a foreign currency, a foreign exchange markup fee is charged on the amount. For IDFC First Credit Cards, this rate is 3.50%.
What is the classic card of IDFC FIRST Bank?
This rewards credit card offers a wide range of benefits under the reward points category apart from other categories such as entertainment, travel, etc. The IDFC First Classic Credit Card does not require any joining fee or annual fee and comes with an interest rate between 0.75% – 2.99% per month.
What is the reward redemption fee on the IDFC FIRST Classic Credit Card
The IDFC FIRST bank charges a small fee of Rs. 99 plus taxes for reward redemption
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