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IDFC FIRST Millennia Credit Card

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Updated: 21-07-2022 11:29:41 AM

The IDFC FIRST Millenia Credit Card variant is best suited for customers wanting to earn rewards on every purchase as for those seeking a zero fee credit card with low- interest rates and decent benefits. The card is free for lifetime i.e. there is no joining or annual fee associated with it. With IDFC FIRST Millennia, you can earn up to 10X reward points on purchases greater than Rs. 20,000, 6X on all online and 3X on all offline spends. Here we have talked about the detailed features, benefits, fees, charges and eligibility of IDFC FIRST Millennia Credit Card.

Key Highlights of IDFC FIRST Millennia Credit Card

Annual / Joining FeeNil (Lifetime Free Credit Card)
Best Suited ForRewards and Online Shopping
Key FeatureUp to 10X Reward Points that never expire
Paisabazaar Rating★★★ (3/5)
Reward Rate3%
Welcome BenefitsGift vouchers worth Rs. 500 and 5% cashback on first EMI transaction
IDFC FIRST Millennia Credit Card- Features and Benefits
Should you get IDFC FIRST Millennia Credit Card?
IDFC FIRST Millennia Credit Card- Fees and Charges
IDFC FIRST Millennia Credit Card- Eligibility and Documentation
How to Apply for IDFC FIRST Millennia Credit Card?
Frequently Asked Questions (FAQs)
IDFC FIRST Millennia Credit Card- Features and Benefits
Up to 10X Reward Points that Never Expire

Being a rewards focused card, IDFC FIRST Millennia Credit Card lets you earn rewards on all your purchases. The rate of reward earning is as follows:

CategoryRewards Earned
On spends above Rs. 20,000 (per billing cycle)10X Reward Points
On Birthday10X Reward Points
Online Spends6X Reward Points
Offline Spends3X Reward Points

Important Points to Note:

  • 1X= 1 Reward Point per Rs. 150 spent
  • 1 Reward Point= Rs. 0.25
  • Reward Points earning and 10X threshold not applicable on Fuel, EMI, Insurance transactions and Cash Withdrawals

The default rewards rate for online and offline spending is 1.5% and 0.75% respectively. However, if you make an incremental spend above Rs. 20,000, the reward rate will increase to 2.5%. 

Generally, the most common complaint about credit card reward points is that they come with an expiration date. IDFC FIRST Millennia Credit Card beats this drawback by giving points that never expire. Even if you don’t redeem the points for a long time, you can get a substantial redemption benefit out of it.

Being a zero annual fee credit card, the rewards rate offered by the card is quite decent. However if you are not satisfied, have a look at the below mentioned alternatives. The table below shows the reward rate on some of the best credit cards in India:

Credit CardAnnual FeeReward PointsAccelerated Rewards
HSBC Visa Platinum Credit CardNil2 reward points for every Rs. 150 spent3X Rewards on Dining, Hotels and Telecom for first year
HDFC Regalia Credit CardRs. 2,5004 reward points for every Rs. 150 spentNA
SBI Card PRIMERs. 2,9992 reward points for every Rs. 100 spent5X reward points on Dining, Groceries, Departmental stores and Movies; 10X points on standing instructions of Utility Bills payment
SBI Card ELITERs. 4,9992 reward points on every Rs. 100 spent5X reward points on Dining, Groceries, Departmental stores and Movies
HDFC MoneyBack Credit CardRs. 5002 reward points for every Rs. 150 spent2X reward points on online spends
Citibank Rewards Credit CardRs. 1,0001 reward point for every Rs.125 spent10X more reward points at apparel and departmental stores
SBI SimplySave Credit CardRs. 4991 reward point per Rs. 100 spent10X rewards on dining, movies and  groceries
Standard Chartered Platinum Rewards Credit CardRs. 2501 reward point for every Rs. 150 spent5 Reward Points for every Rs.150 spent on dining and fuel
Zero Annual and Joining Fee

IDFC FIRST Millenia Credit Card is a lifetime free credit card which means that there is no joining or annual fee associated with the card. Also the card has zero over-limit fees, zero add-on charges, and zero reward redemption fees.

Click here to checkout other Zero Annual Fee Credit Cards

Rs. 500 worth Gift Vouchers & 5% Cashback as Welcome Benefits

With your IDFC FIRST Millennia Credit Card, you get the following introductory benefits-

  • Gift Vouchers worth Rs. 500 on spending Rs. 15,000 within 90 days of card set-up
  • 5% cashback on the first EMI transaction done within 90 days of card set-up

We can say that the welcome benefits are decent given the fact that IDFC FIRST Millennia Credit Card is a zero annual fee credit card offering low-interest rate.

25% Discount on Movie Tickets

Get 25% discount on movie tickets up to Rs. 100 (once a month) with your IDFC FIRST Millennia Credit Card. Being an entry-level credit card, the discount on movie tickets can be considered as an added advantage. 

Checkout the Best Entertainment Credit Cards in India
Other Benefits of IDFC FIRST Millennia Credit Card

Following are the other significant benefits of IDFC FIRST Millennia Credit Card-

  • 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* & complimentary lost card liability cover of Rs. 25,000
  • Low Interest Rate starting at 0.75% p.m. (9% annually)
  • Interest free cash withdrawal from ATMs for upto 48 days

*On doing at least 1 transaction in the previous month

Should you get IDFC FIRST Millennia Credit Card?

IDFC FIRST Millennia Credit Card is best suited for the people looking for a zero annual fee credit card offering decent rewards on both online and offline purchases. It is a good credit card for beginners and medium spenders. 

However the question whether you should or should not apply for this card lies in what you actually want from your credit card.

GET THIS CARD IFCONSIDER OTHER OPTIONS IF
  • You do no wish to pay joining or annual fee for your card
  • You want simplicity of rewards and its redemption
  • You frequently shop online
  • You prefer earning rewards over cashback
  • You are not looking for any category-specific discount
  • You frequently book movie tickets
  • You do not put major expenses on your card
  • You are looking for other benefits along with rewards
  • You can afford to pay a slightly higher annual fee for multiple category benefits
  • If you already have a credit card with a good rewards program
  • You are looking for a card with travel benefits (this card does not provide airport lounge access or any other travel benefits)
IDFC FIRST Millennia Credit Card- Fees and Charges
Fees / ChargesAmount
Joining / Annual FeeNIL
Over Limit FeeNIL
Interest Rate / Finance Chargesstarting at 0.75% p.m. (9% annually)
Reward Redemption FeeNIL
Foreign Currency Markup Fee3.5%
Late Payment Fee15% of Total Amount Due (subject to Min Rs. 100 and Max up to Rs. 1250)
International & Domestic Cash Advance FeeRs. 250
IDFC FIRST Millennia Credit Card- Eligibility and Documentation

IDFC FIRST Millenia Credit Card has not been launched yet. However, the basic criteria to be eligible for the card is as follows:

  • You should be at least 18 years old
  • Whether salaried or self-employed, you must have a regular source of income to pay back your credit card bills
  • You should have a decent credit score (Preferably 700 and above)
Documents Required

You are also required to submit a set of documents including valid proof of identity, address and income. Given below is the list of documents-

Proof of IdentityPAN Card, Aadhaar Card, Voter’s ID Card, Passport, Driving Licence or any other government-approved photo ID
Proof of AddressAadhaar Card, Passport, Utility bills (not more than 3 months old), or any other government-approved address proof
Proof of IncomeBank statement for the last 3 months, Salary slips for the last 3 months, Audited financials for the last two years (for self-employed), Form 16, etc.
How to Apply for IDFC FIRST Millennia Credit Card?

IDFC FIRST Millenia Credit Card has not been not launched yet. The card will initially be offered to existing customers only and the applications will probably begin in the month of February, while for new customers, the card will be launched in March 2021.

You can however show interest on their website by clicking on the “Notify Me” option or Click here to join the pre-launch waitlist for IDFC FIRST Millennia Credit Card. In this way you can enroll for the application process and will receive an immediate notification after the launch of IDFC FIRST Millennia Credit Card.

Frequently Asked Questions (FAQs)

Do IDFC FIRST Millennia Credit Card reward points expire?

No, the rewards points offered by your IDFC FIRST Millenia Credit Card do not expire. 

Does IDFC FIRST Bank charge any fee for reward redemption?

No, the bank does not charge any amount for reward redemption.

When will the IDFC FIRST Millennia Credit Card be launched?

Existing customers may start with the application process by late Feb 2021 on invite-only basis. For others, it’s expected to be launched by March 2021. 

Does IDFC FIRST Millenia Credit Card provide airport lounge access?

No, IDFC FIRST Millenia Credit Card does not offer airport lounge access. However the card offers 4 complimentary Railway lounge visits every quarter.

How can I contact IDFC FIRST Bank Credit Card Customer Care?

Call on the 24X7 helpline number @ 18605001111 or email at-  creditcard@idfcfirstbank.com

Please Note: IDFC First Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only. 

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