Key Highlights of IDFC FIRST Select Credit Card
|Annual Fee||Nil (Lifetime Free Credit Card)|
|Best Suited For||Rewards and Online Shopping|
|Key Feature||Up to 10X Reward Points that never expire|
|Reward Rate||Offline Purchases: 3% | Online Purchase: 6%|
|Welcome Benefits||Gift vouchers worth Rs. 500 and 5% cashback on the first EMI transaction|
Features and Benefits of IDFC FIRST Select Credit Card
Nil Joining and Annual Fee
IDFC FIRST Select Credit card is free for lifetime, which means that the card charges zero annual or joining fee. If you do not wish to pay an annual or joining fee for your credit card but still want to earn generous rewards and additional privileges, this card can be a decent choice.
With IDFC FIRST Select Credit Card, you get the following welcome benefits:
- Gift vouchers worth Rs. 500 on spending Rs. 15,000 within 90 days of card set-up
- 5% cashback on your first EMI transaction made within 90 days of card set-up
The introductory benefit of Rs. 500 can be called satisfactory, considering the card comes free for a lifetime. However, the extended benefit on EMI transactions is a rare benefit, not offered by many cards. Even the range of cashback offered, that is 5% is a good value back, as the maximum you can save is Rs. 1,000. Thereby, the card does fairly well in offering welcome benefits.
Up to 10X Reward Points on your purchases
IDFC FIRST Select Credit Card offers decent rewards on your purchases. The flat reward rate is 3% which can be considered good. Also, the reward points come with no expiry date and relatively easy redemption options. You will get:
- 10X Reward Points on incremental purchases greater than Rs. 25,000 per billing cycle
- 10X Reward Points on your Birthday
- 6X Reward Points on all online purchases
- 3X Reward Points on all offline purchases
|Points to Note:
The 6X Reward Points offered on online purchases is one of the best features of the card. As the majority of people, today, choose online shopping over retail stores, the demand for online shopping credit cards has increased significantly. If you are a frequent online shopper, here are some of the alternatives you should consider:
|Credit Card||Annual Fee||Best rewards on||Key Feature|
|SBI SimplyCLICK Credit Card||Rs. 499||Amazon, BookMyShow, Cleartrip, Lenskart, Netmeds, UrbanClap, etc||10X Reward Points on online spends|
|American Express SmartEarn™ Credit Card||Rs. 495||Flipkart and Uber||Up to 10X Membership Points on Online Spends|
|Amazon Pay ICICI Credit Card||Nil||Amazon||5% cashback on shopping at Amazon|
|Flipkart Axis Bank Credit Card||Rs. 500 (from 2nd Year)||Flipkart and Myntra||5% cashback on Flipkart, Myntra and 2GUD|
|HDFC Millennia Credit Card||Rs. 1,000||Amazon, Flipkart, PayZapp, SmartBuy, etc.||5% cashback on Amazon, Flipkart, PayZapp & SmartBuy|
Buy 1 Get 1 Free Movie Ticket Offer
With your IDFC FIRST Select Credit Card, you get a “Buy 1 Get 1 offer on movie tickets of up to Rs. 250 per ticket (twice per month).
IDFC FIRST Select Credit Card offers travel benefits as following:
- Complimentary domestic airport lounge access (4 per quarter)
- Complimentary railway lounge access (4 per quarter)
- Low foreign exchange mark-up fee of 1.99%
- Comprehensive Travel Insurance Cover of Rs. 22,500 (Loss of Checked-In Baggage – Rs. 7,500; Delay of Checked-In Baggage Rs. 5,000; Loss of Passport and other documents – Rs. 5,000; Delay in Flight- Rs. 5,000)
The lounge access and low forex mark-up features will help you save well, especially if you are a frequent traveler. Access to railways lounges and domestic airport lounges can work well for domestic travelers. However, there are no additional travel features such as extra reward points on travel bookings, free membership to some frequent flyer programs, international lounge access. Such features would have made the card a feasible choice for travelers.
If you are looking for a card with all-round travel benefits, you should consider the following options-
|HDFC Diners Club Privilege Credit Card||SBI ELITE Credit Card
Other Benefits on IDFC FIRST Select Credit Card
- Personal Accident Cover of Rs. 5 Lakh & Complimentary Lost Card Liability Cover of Rs. 50,000
- Fuel surcharge waiver at all fuel stations across India up to Rs. 300 every month
- Interest-free cash withdrawal from ATMs for up to 48 days
- The card comes with a dynamic interest rate model, based on the user’s profile. Interest rates range from 9% p.a. and can go up to 42% p.a.
Should you get IDFC FIRST Select Credit Card?
IDFC FIRST Select Credit Card is best suited for those who are looking for a lifetime-free credit card offering multiple benefits. The card offers good rewards on all your transactions, especially when you meet the Rs. 25,000 spending threshold. If you are a decent spender, who can manage to put most of his/her expenses on a credit card, you can easily maximize the card benefits. Even with a low reward rate of Rs. 0.25 per point, reward points utilization becomes easier with this card, as you get to earn unlimited reward points, without any capping, and expiry limit.
The only drawback of this credit card is that even when the card offers a low Forex markup, it does not offer any other international travel benefits, thereby the premium travel benefits bar is not matched. However, access to domestic railway and airport lounges, along with travel covers, make it a suitable option for people who frequently travel within India. You should consider getting this card if you:
- frequently shop online
- can make an incremental spend of an amount greater than Rs. 25,000 each billing cycle
- are more inclined towards rewards than cashback
- are not looking for all-round benefits
- are not looking for a credit card with exclusive travel benefits
- are a frequent traveler within India
- travel via both trains and airline
|IDFC FIRST Select Credit Card is one of the three lifetime credit cards offered by IDFC FIRST Bank, the other two being- IDFC FIRST Millennia and IDFC FIRST Wealth Credit Card. Though all three credit cards come with a similar incremental reward structure, they vary with each other in terms of redemption value and minimum spending threshold (to earn incremental spends).
The select variant is very similar to IDFC FIRST Wealth Credit Card. Both these cards offer low forex markup fees, access to lounges, and other travel benefits. However, while the IDFC Select Card is a good choice for domestic travel, IDFC Wealth turns out to be a better option for international travelers.
For a better understanding, we suggest you go through the comparison between all three IDFC FIRST Credit Cards. Compare: IDFC FIRST Select Vs. IDFC FIRST Wealth Vs. IDFC FIRST Millennia Credit Cards
IDFC FIRST Select Credit Card- Fees and Charges
|Fees / Charges||Amount|
|Joining / Annual Fee||NIL|
|Over Limit Fee||NIL|
|Interest Rate / Finance Charges||starting at 0.75% p.m. (9% annually)|
|Reward Redemption Fee||NIL|
|Foreign Currency Markup Fee||1.99%|
|Late Payment Fee||15% of Total Amount Due (subject to Min Rs. 100 and Max up to Rs. 1,250)|
|International & Domestic Cash Advance Fee||Rs. 250|
|Return of cheque/Auto Debit/ Payment Return||Rs. 250 per Returned cheque/Auto Debit/ Payment Return|
|EMI Fees||1% of transaction value (minimum Rs. 99), Fee will be levied if booked through any channel, unless done at the Point-of-Sale terminal or merchant website/ app|
|Card Replacement Fee||Rs. 100|
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Frequently Asked Questions (FAQs)
Is there an expiry date on the reward points accrued on my card?
There is no expiry date for the reward points earned using your IDFC FIRST Select Credit Card.
How much GST will be applicable on my IDFC FIRST Select Credit Card?
GST will be levied at the rate of 18 percent on fees and charges and interest rates applicable to your card.
Will I be asked for my Credit Card PIN at every POS terminal, be it domestic or international?
For all transactions in India, yes, you will be asked for a PIN for completing the transactions. However, outside India, you will be asked for the PIN only if the POS terminal is enabled for PIN authentication.
How will I get my credit card statement?
Your e-statement will be sent to you on your registered e-mail ID and via SMS on your registered mobile number.
How can I generate PIN for my IDFC FIRST Select Credit Card?
To Generate Credit Card PIN, click https://idfcfir.st/ccpin or call 1860 500 1111.
Please Note: IDFC First Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.