Best IDFC Credit Card 2024: Eligibility, Features & Benefits

IDFC FIRST Bank offers a range of credit cards designed to meet the diverse needs of its customers. These cards are known for their innovative features and user-friendly digital access.

Cardholders can benefit from cashback offers, reward programs, and exclusive privileges. IDFC Bank’s credit cards are often tailored to specific customer segments, such as travelers or shoppers, offering attractive perks like travel discounts and shopping rewards.

These cards also typically support contactless payments for added convenience. The bank’s digital platforms make it easy for customers to manage their credit cards, monitor transactions, and pay bills securely.

IDFC Bank credit cards are designed to provide value and convenience to a broad range of users.

IDFC Credit Card 2024

IDFC Bank, now known as IDFC FIRST Bank, is a prominent Indian banking institution. It transitioned from an infrastructure financing company to a full-fledged commercial bank and expanded its retail banking services.

 IDFC FIRST Bank has been involved in initiatives aimed at financial inclusion and supporting underprivileged communities. It has continued to grow and evolve in India’s banking sector, offering a comprehensive range of financial products.

To choose the best IDFC credit card, consider your spending habits, financial needs, and preferences. Evaluate the card’s features, such as rewards, benefits, and annual fees, to align with your requirements.

Ensure you meet the eligibility criteria, including income and credit score, for the card you’re interested in. Always check the latest information from IDFC FIRST Bank for the most accurate details regarding their credit card offerings and terms.

IDFC CardFees
IDFC FIRST Millenia Credit CardLifetime Free
IDFC FIRST Classic Credit CardLifetime Free
IDFC FIRST Select Credit CardLifetime Free
IDFC FIRST Wealth Credit CardLifetime Free
IDFC FIRST WOW Credit CardLifetime Free
Club Vistara IDFC First Credit CardRs. 4,999
IDFC First Power Credit CardRs. 199

Features & Benefits

IDFC FIRST Bank’s credit cards offer several key benefits. One of the notable advantages is the interest-free cash withdrawal feature, allowing you to withdraw cash from ATMs without incurring any interest charges for up to 48 days. These benefits apply to all IDFC FIRST credit cards.

The bank boasts some of the lowest interest rates in the industry, starting at just 0.75% per month or 9% annually. Cardholders can enjoy welcome benefits, including a gift voucher upon spending Rs.15,000 within the first 90 days of card issuance.

Cashback rewards of 5% are given for the first EMI transaction, and the cards provide insurance perks, such as a Personal Accident Cover of up to Rs.10 lakh and a complimentary Lost Card Liability Cover of up to Rs.50,000.

IDFC FIRST credit cards come with a complimentary Road Side Assistance worth Rs.1,399, adding to the comprehensive benefits package.

  • Pros

  • Cons

  • IDFC FIRST Bank credit cards offer rewards, cashback, and other benefits on various spending categories.
  • They provide features like EMI conversion, balance transfer, and cash withdrawal.
  • Some cards come with lifestyle perks, such as lounge access and discounts.
  • Lifetime free credit card options are available.
  • IDFC FIRST Bank is known for responsive customer support.
  • Meeting income and credit score requirements can be a challenge.
  • The bank offers a more limited range of credit card options compared to larger banks.
  • High-interest rates may apply if balances are not paid in full.
  • Some cards may have annual fees.
  • Failing to pay on time results in late fees.

Fees & Charges

Annual FeeNil
Finance Charge0.75% – 3.99% per month
Joining FeeNil
Late Payment Charges15% of the total amount due (subjected to a minimum of Rs.100 and a maximum of Rs.1,000)
Cash Advance FeeRs.250
Over Limit ChargesNil
Rewards Redemption FeeNil
Return of ChequeRs.250 per returned cheque
Fee of Cash PaymentNil
Duplicate Statement RequestNil
Outstation Cheque Processing FeeNil
Card Replacement FeeRs.100
Chargeslip RequestNil
Cheque Pick-up FeeNil
Foreign Currency Mark-up1.5% – 3.5%
Fuel Surcharge1% of the transaction amount (Waived up to Rs.400 per statement cycle)

Eligibility Criteria

  • Age: Typically, applicants should be between 21 and 65 years of age.
  • Citizenship: Indian citizens and, in some cases, NRIs may be eligible.
  • Minimum Income: IDFC FIRST Bank credit card applicants often need to meet a minimum income requirement, which varies based on the specific card.
  • Credit Score: A good credit score is generally required for approval.
  • Employment Status: Applicants can be salaried or self-employed.
  • Documents: Proof of identity, address, income, and recent passport-sized photographs are typically required for verification.
  • Eligibility criteria may vary for different IDFC FIRST Bank credit cards, so it’s advisable to check the specific criteria for the card you’re interested in.

How to Apply IDFC Credit Card Online?

  • Visit the IDFC FIRST Bank website.
  • Navigate to the “Credit Cards” section.
  • Browse through the available credit card options.
  • Select the credit card that best suits your needs.
  • Click on the “Apply Now” or “Apply Online” button.
  • Fill out the online application form with your personal and financial details.
  • Submit the required documents, such as identity proof, address proof, and income proof.
  • Review and confirm your application.
  • Await approval and verification from IDFC FIRST Bank.
  • Once approved, you will receive your new IDFC credit card by mail.

Other IDFC Credit Cards

IDFC Bank, now known as IDFC FIRST Bank, has a notable history as a prominent Indian banking institution. Established in 1997, IDFC Limited was initially founded to provide financial support for infrastructure projects in India.

In 2015, the institution transitioned into a full-fledged scheduled commercial bank when it received a banking license from the Reserve Bank of India (RBI).

This transformation was marked by a merger with Capital First Limited, a non-banking financial company (NBFC), and the subsequent renaming of the institution to IDFC FIRST Bank.

This strategic merger enabled the bank to broaden its services, particularly in the retail banking sector, offering a range of financial products such as savings accounts, personal loans, and home loans.

IDFC FIRST Bank has embraced digital banking and financial inclusion initiatives, continuing to expand its presence in India’s banking sector and provide innovative solutions to its diverse customer base.

IDFC Credit Card FAQs

Is IDFC credit card really free?

IDFC FIRST Bank offers several credit cards with different fee structures. Some of their credit cards come with no annual fees, making them essentially “free” as long as you meet the eligibility criteria and maintain the required spending.

Is IDFC credit card good?

IDFC FIRST Bank credit cards come with various benefits, including rewards, low-interest rates, and additional perks. The suitability of an IDFC credit card depends on your financial needs and spending habits. Evaluate the specific card’s features to see if it aligns with your preferences.

What is the interest rate on an IDFC FIRST Bank credit card?

The interest rate on IDFC FIRST Bank credit cards typically ranges from 0.75% to 3.99% per month, which translates to an annual rate of 9% to 47.88%. The exact interest rate can vary based on the specific card and your creditworthiness.

What is the minimum salary for an IDFC FIRST credit card?

The minimum salary required for an IDFC FIRST Bank credit card can vary depending on the specific card you’re applying for. Typically, the bank sets a minimum income requirement as part of the eligibility criteria. It’s advisable to check the income requirement for the particular card you’re interested in.

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