IDFC FIRST Millennia Credit Card – Benefits, Fees & Eligibility

First Millennia Credit Card

The First Millennia Credit Card by IDFC FIRST Bank is a lifetime-free entry-level credit card specifically designed for trendsetters and young earners. It features an attractive reward program where points never expire, turning everyday shopping, dining, and online purchases into consistent value. With highlights such as exceptionally low interest rates starting from 8.5% per annum and a host of travel and lifestyle privileges like railway lounge access and movie discounts, it offers a luxurious experience without the burden of joining or annual fees.

Welcome Benefits

• Brand Voucher: Receive a ₹500 gift voucher from a choice of top brands like Amazon, BigBasket, Uber, and Lifestyle upon spending ₹5,000 or more within 30 days of card generation.
• EMI Cashback: Enjoy 5% cashback (up to ₹1,000) on your first EMI transaction if performed within the first 30 days of card generation.
• UPI Activation Offer: For a limited period, get 100% cashback up to ₹200 (credited as ₹50 each on the first 4 transactions) upon activating the UPI feature on the card.
• Referral Rewards: Existing cardholders can earn 2,000 bonus reward points for each successful referral (maximum of 10,000 points). The referred person also earns 2,000 bonus reward points by spending a minimum of ₹500 within 30 days of card setup.

Fees

• Joining Fee: NIL.
• Annual Fee: NIL (Lifetime Free).
• Interest Rates (APR): Variable rates ranging from 8.5% to 46.2% per annum (0.75% to 3.5% per month).
• Cash Withdrawal Fee: ₹199 + GST per transaction. No interest is charged on cash withdrawals for up to 45 to 48 days (only the one-time fee applies).
• Rewards Redemption Fee: ₹99 + GST per redemption request.
• Foreign Currency Markup: 3.5% of the total transaction value.
• Fuel Surcharge: 1% waiver for transactions between ₹200 and ₹5,000 (maximum waiver of ₹200 per statement cycle).
• UPI Activation Fees: Joining and Annual Fee (from the 2nd year onwards) of ₹199 + GST for the UPI feature.
• Add-on Card Fee: ₹499 + GST joining and annual fee per card.
• Personalization Fee: Optional joining and annual fee of ₹499 + GST for selecting or uploading a custom image for the card.
• Late Payment Charges: Applicable if the Minimum Amount Due is not paid by the due date, based on the outstanding balance.

Rewards

Reward Point Structure

• 10X Reward Points: Earned on incremental monthly spends above ₹20,000 and on all spends made on your birthday.
• 3X Reward Points: Earned on all spends up to ₹20,000 per statement cycle.
• 3X Reward Points (Specific Categories): Applicable to Education, Wallet Load, Government payments, Rent, and Property Management/Purchase transactions.
• 1X Reward Point: Earned on Utility, Insurance, FASTag recharges, and Railway spends.
• Base Value: 1X = 1 Reward Point per ₹200 spent (Value of 1 point = ₹0.25).
• Accelerated Travel Rewards: Earn 33% bonus reward points on hotel bookings and 13% bonus reward points on flight bookings via the 'FIRST Rewards Gallery' on the IDFC FIRST Bank Mobile App. This equates to approximately 50 points per ₹150 for hotels and 20 points per ₹150 for flights, capped at 8,000 bonus points per month.
• Exclusions: Reward points are not applicable to Fuel, EMI transactions, and Cash Withdrawals.

Travel and Lounge

• Railway Lounge Access: 4 complimentary railway lounge visits per quarter across India.
• Lounge Access Condition: Spend ₹20,000 within the current calendar month to access lounge benefits in the following month.
• Participating Railway Lounges: Agra Cantt, Ahmedabad Kalupur, Chennai Central, Old Delhi, Kolkata (Sealdah), New Delhi, Varanasi Cantt, and Jaipur.

Lifestyle and Entertainment

• Movies: 25% discount (up to ₹100) on movie tickets booked via the District by Zomato mobile app, valid once per month.
• Dining: Up to 20% discount at 1,500+ partnered restaurants.
• Health & Wellness: Up to 15% discount at 3,000+ health and wellness outlets.
• Merchant Offers: Access to 300+ merchant deals all year round.

Insurance and Assistance

• Personal Accident Cover: ₹2,00,000 coverage.
• Lost Card Liability Cover: ₹25,000 coverage.
• Roadside Assistance: Complimentary 24/7 roadside assistance worth ₹1,399, valid up to 4 times a year.
• Condition for Insurance: Coverage is valid provided at least one transaction was made on the card in the last 30 days.

Rewards Redemption Guide

• Validity: Reward points earned on the card never expire.
• Value: 1 Reward Point is equivalent to ₹0.25.
• Redemption Fee: A flat fee of ₹99 + GST is charged per redemption transaction.
• Redemption Process:
  • Points can be viewed and redeemed via the IDFC FIRST Bank Mobile Banking App or the Net Banking portal.
  • Select the ‘Pay with Points’ option at online payment gateways or at select physical stores.
  • Redeem points for an extensive range of products, services, or travel bookings (hotels/flights) through the FIRST Rewards portal.
• Automatic Reversal: If the cardholder fails to pay the Minimum Amount Due, reward points for that cycle will not be applicable or may be reversed.

Card Eligibility Criteria

• Age: The applicant must be at least 21 years old.
• Income: Minimum annual income of ₹3 lakhs or more.
• Credit Score: A decent credit score (preferably above 700) with no history of payment defaults.
• Application Process: Completely digital and paperless featuring Video KYC (VKYC).

Card Review

• Overall Verdict: The First Millennia Credit Card is a top-tier "value-for-money" entry-level card. Its most significant advantage is the combination of being lifetime-free with a reward program where points never expire. It provides exceptional value for daily shopping and transit.
• Who Should Apply: Young professionals, first-time credit card users, and frequent railway travelers who want premium perks without paying an annual fee.
• Pros:
  • No joining or annual fees.
  • Reward points never expire.
  • Complimentary railway lounge access.
  • Extremely low interest rates (starting at 8.5% p.a.).
  • Comprehensive roadside assistance and accident cover.
• Cons:
  • No domestic or international airport lounge access.
  • Redemption fee of ₹99 + GST per request.
  • 10X reward milestone requires monthly spends above ₹20,000.

Important Product Details

• Positive Highlights:
  • Lifetime free status with zero annual recurring costs.
  • Unique never-expiring reward point system.
  • Interest-free cash withdrawals for up to 45/48 days.
  • Highly competitive interest rates compared to industry standards.
  • Instant EMI conversion available on the bank’s OTP page for online transactions.
  • Contactless (tap-and-pay) enabled for transactions up to ₹5,000.
• Negative Highlights:
  • Absence of airport lounge benefits.
  • The reward redemption fee might discourage frequent small redemptions.
  • Certain essential categories like fuel and EMI do not earn rewards.
  • The incremental spend threshold for 10X rewards is set at ₹20,000.

Other Details

• Card Management: Manage credit settings, card PIN, and transaction limits (online, contactless, international) via the mobile banking app.
• Bill Payments: Bills can be paid via Net Banking, App, UPI, IMPS, NEFT, debit card, cheque, or at bank branches.
• Lost Card Protocol: Block the card immediately via the mobile app, net banking portal, or by calling customer care at 1800 10 888. Alternatively, send an SMS: CCBLOCK <Last 4 digits of card> to 5676732.
• Overlimit Facility: An optional 10% additional credit limit can be enabled with customer consent.
• Payment Due Date: A fixed date each month following statement generation. Paying the Total Amount Due (TAD) in full is recommended to avoid interest.