IDFC First Bank Select Credit Card - Features, Benefits, Fees & Charges

IDFC FIRST Bank Select Credit Card (4.8)

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Are you someone who loves to frequently travel, dine out, and earn reward points through credit card usage? If so, the IDFC First Select Credit Card is just what you need! This credit card is not only lifetime-free, but it also offers access to 4 railway lounges every quarter. With its reward rate ranging from 0.6% to 2%, the card is ideal for those who desire to accumulate reward points while enjoying the benefits of railway lounges. Want to know more? Keep reading to see if this credit card is ideal for you.

Features and Benefits

Aspects that make spending using this card lit as the sun!

Welcome Bonus
Travel
Fuel
Rewards
Shopping
Cashback
Dining
Insurance
Interest
Lounge
Welcome Bonus
  • Gift voucher worth ₹500 after spending ₹5,000 or more within 30 days of card issuance.

  • 5% cashback up to ₹1,000 on EMI transactions within the first 90 days.

Reward Points
  • 10X reward points on expenses over  ₹25,000.
  • 10X reward points on transactions made on your birthday.
  • 6X reward points on your online purchases.
  • 3X reward points on every offline expense.
  • 1X = 1 reward points per ₹125 spent.
  • Reward Rate = 0.6% to 2%

 

Travel Benefit
  • Enjoy up to 4 free lounge visits per quarter at selected domestic airports in India and 4 complimentary railway lounge access.
  • Complimentary roadside assistance worth ₹1,399.
Milestone Benefit

10X Reward Points on incremental purchases greater than ₹25,000 per billing cycle.

Insurance Benefit

Insurance cover for:

  • Air Accident Cover - ₹1 Crore
  • Travel - ₹22,500 
  • Accident Cover - ₹5,00,000
  • Lost Card Liability - ₹50,000

Note- All these insurance benefits are subject to the bank’s criteria.

Fuel Surcharge

1% surcharge waiver on fuel transactions at petrol pumps across India, with a maximum discount of ₹300.

Concierge Services
  • Exclusive 24/7 Concierge Services to book flights, dining and other activities.
  • Phone No: 1860 258 2000 (India) 
  • Email ID: creditcard@idfcfirstbank.com
Entertainment Benefit
  • Get a Buy 1 Get 1 offer on movie ticket bookings on PayTM app.
  • Up to 2 complimentary movie tickets worth ₹250 each per month
Dining Benefit

Discount of up to 20% on dining at participating restaurants.

Other Benefit

Up to 15% discount at 3000+ Health & Wellness outlets.

Fee and Charges

Think of these as small investments to keep your credit card running smoothly.

Charges

Joining Fee

Free

Annual Fee

Free

Annual Percentage Rate

42%

Add-on Card Fee

Free

Minimum Repayment Amount

5%

Cash Withdrawal Fee

₹199

Cash Advance Limit

NA

Card Replacement Fee

₹ 100

Foreign Transaction Fee

1.99%

Over Limit Penalty

2.50%

Fuel Transaction Surcharge

1%

Reward Point Value

₹0.25
Late Payment Charges

Any Amount Due

15 % of Total Amount Due subject to a minimum of ₹ 100 and a maximum of ₹ 1250.
Pros

Aspects that make this credit card amazing.

  1. The card offers a 1% Fuel surcharge waiver.
  2. It comes with 24/7 concierge service.
  3. Personal Accident cover of ₹ 5,00,000.
  4. Low forex markup fee of 1.99%.
  5. Offer 10X reward points on purchases above ₹ 25,000.
Cons

Aspects this credit card lacks.

  1. No reward points on Fuel & EMI transactions.
  2. Gold and Jewellery linked transaction is not permitted for EMI conversion.
  3. It charge high-interest from 9% to 42%.
  4. All merchants may not accept the card, especially in remote or rural areas.
IDFC FIRST Bank Select Rating & Reviews

This is the truth, the whole truth, and nothing but the truth; brought to you by the other users.

Charges

(4)

Rewards

(3.5)

Customer Service

(3)

IDFC FIRST Bank Select Credit Card Review

The IDFC FIRST Select Credit Card is a great choice for people who want a credit card that doesn't charge an annual fee and offers a mix of rewards and benefits. It has many good features, such as free lifetime status, competitive rewards for online spending, and access to airport lounges for travellers. However, if you mostly make purchases offline or want rewards on fuel and EMI transactions, this card may not be the best option for you.

In the end, whether this card is right for you depends on your spending habits and how often you travel. If it aligns with your needs, the IDFC FIRST Select Credit Card can be a valuable and cost-effective solution. But if you want higher rewards on different spending categories, you may want to consider other credit cards such as the SBI SimplyClick Credit Card or the HDFC Bank Diners Club Rewards Credit Card.

Overview

Best Suited  Rewards & Online Shopping.
Rewards 10x Rewards for every ₹125 spent on purchases above ₹25,000.
Welcome Bonus Gift voucher worth ₹500 and a cashback of 5% on the first EMI transaction done within 90 days of card activation
Annual/Joining Fee No joining fee.

Who should opt for an IDFC FIRST Bank Select Credit Card? 

Whether or not you should get an IDFC First Select credit card depends on your individual needs and spending habits. The card provides commendable rewards on all transactions, particularly for those who spend ₹25,000 or more. If the user is a decent spender who can charge most of their expenses to a credit card, they can effectively maximize the card benefits. Despite the low reward rate of ₹0.25 per point, the card's unlimited reward points without any cap or expiry limit make reward point utilization hassle-free.

Notably, the card offers a low forex markup; however, it lacks any other international travel benefits, leaving the premium travel benefits bar unmatched. Here are some specific examples of people who might benefit from the IDFC FIRST Select Credit Card:

  • Business travellers who frequently fly domestically
  • Families who travel frequently and want to enjoy airport and railway lounge access
  • People who eat out and go to the movies often
  • People who are not looking for all-round benefits
  • People who are looking for a credit card with no annual fees or joining fees

Reward Points on IDFC FIRST Select Credit Card

IDFC FIRST Select Credit Card offers decent rewards on purchases. Also, the reward points come with no expiry date and relatively easy redemption options. Users will get the following:

  • 10X Reward Points on incremental purchases greater than ₹25,000 per billing cycle
  • 10X Reward Points on Birthday
  • 6X Reward Points on all online purchases
  • 3X Reward Points on all offline purchases

Reward Points earning and a 10X threshold are not applicable for Fuel, EMI, Insurance transactions, and Cash Withdrawals.

How to Apply for IDFC FIRST Select Credit Card?

If the user is an offline person, just head over to the nearest IDFC FIRST Bank branch with the required documents, and fill out a physical application form.

For those who prefer the convenience of online applications, simply follow these simple steps:

Step 1: Visit select.finology.in and navigate to the 'All Credit Card' section.

Step 2: Select the IDFC FIRST Select Credit Card from the available options and click on 'Apply Now'.

Step 3: Fill out the online application form with personal and financial details.

Step 4: Upload the required documents, such as identity proof and income proof.

Step 5: Submit the application and wait for the bank's decision.

It's always a good idea to carefully review the terms and conditions of the credit card before applying and to consult with a financial advisor or the bank in case of any questions or concerns.

IDFC FIRST Select Credit Card Eligibility

Applicants must be at least 18 years of age and have a steady source of income to be eligible for a credit card.

Documents Required

  • Proof of identity: PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI or any other government-approved photo ID proof.
  • Proof of Address: Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 months old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement, or any other government-approved address proof.
  • Proof of Income: Latest one or two salary slips (not more than 3 months old), latest Form 16, and the last 3 months’ bank statement.
IDFC FIRST Bank Cards Issued & Spends

Keep an eye on the credit card's monthly performance through the number of cards issued and the cumulative transaction value!

Bank name:

IDFC FIRST Bank

IDFC FIRST Bank Credit Card Customer Care Number:

1860 500 9900

IDFC FIRST Bank Card Offers:

View Offers

Total Cards:

24,36,772
IDFC FIRST Bank Credit Card News
02 May 2024, Thursday
1. IDFC First Bank implements utility transaction fee change

IDFC First Bank has declared that starting May 1, 2024, there will be a modification in its policy for credit card payments of utility bills. As per the revised policy, a 1% surcharge, along with GST, will be levied on credit card payments for utility bills that exceed Rs. 20,000 in a statement cycle. However, this additional charge will not be applicable for transactions made with the FIRST Private Credit Card, LIC Classic Credit Card, and LIC Select Credit Card.

04 Apr 2024, Thursday
2. IDFC First Bank Announces Credit Card Devaluation.

IDFC First Bank announced a devaluation of their credit card rewards program, effective from 1 May 2024. Here's a breakdown of the key changes:

  • Reduced reward points: Across all cards, reward points are now earned at a rate of 3 points per every Rs. 150 spent, compared to the previous system that offered higher points for specific categories like online shopping.

  • Lounge access changes: For most cards, complimentary airport lounge access now requires a minimum spend of Rs. 20,000 in the previous calendar month.

  • Charges on utility bill payments: A 1% surcharge applies to total utility bill payments exceeding Rs. 20,000 in a statement cycle (except for Private, LIC Classic and LIC Select cards).

  • Rent payments: A fee of Rs. 249 or 1% (whichever is higher) is charged on rent payments made through the credit card.

There are some exceptions to these changes, particularly for the IDFC FIRST Bank Private Credit Card, which remains largely unaffected.

15 Dec 2023, Friday
3. LIC Cards, IDFC First Bank, and Mastercard Join Hands to Launch Co-Branded Credit Cards.

IDFC First Bank, LIC Cards, and Mastercard have announced their joint venture to launch an exclusive co-branded credit card to cater to the dynamic financial needs of the country. In a joint statement released on Thursday, the credit card comes in two variants - LIC Classic and LIC Select. The credit cards offer policyholders across the country an opportunity to save reward points on every LIC insurance premium payment.
Apart from the reward points, the credit card also comes with a host of other benefits, including up to Rs 50,000 cover for lost card liability and personal accident insurance cover of up to Rs 5 lakh. The additional benefits will be extended to LIC policyholders who opt for this credit card, along with co-brand benefits. This initiative is expected to benefit more than 27 crore policyholders across India. 
 

11 Apr 2023, Tuesday
4. IDFC FIRST Bank launches co-branded fuel credit card

Targeting the lifestyle needs of its consumers, as well as improving their savings on mobility and utility spends, IDFC FIRST Bank has partnered with HPCL to launch two co-branded cards. The two new cards are being named FIRST Power and FIRST Power+. Bankers can apply for the FIRST Power and FIRST Power+ cards through the bank’s website, its app for select bank branches, and select HPCL pumps and stations.

IDFC FIRST Bank Select Customer Reviews

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Frequently Asked Questions

A borrower must be at least 21 years old and have a CIBIL score of at least 750 out of 900. Have a consistent record of income and employment.

No, the IDFC FIRST Select Credit Card reward points do not expire. This means you can collect points over time and redeem them whenever you want.

The IDFC FIRST Select Credit Card is free for life, which means there are no annual or joining fees. Furthermore, the card offers attractive reward points on every transaction made with the card, making it an excellent choice for those looking for a low-maintenance credit card with added benefits.

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