IDFC FIRST Select Credit Card – Benefits, Fees & Eligibility

IDFC FIRST Select Credit Card

Introduction

The IDFC FIRST Select Credit Card is a premium, lifetime-free offering designed to celebrate every milestone with its users, providing a diverse range of exclusive benefits and rewards. It features a low forex markup of 1.99% on international transactions and allows users to earn up to 10X never-expiring reward points. Additionally, it offers up to 3X reward points on UPI spends, making it a versatile card for both domestic and international usage across various lifestyle and travel categories.

Welcome Benefits

• ₹500 Gift Voucher: Receive a gift voucher worth ₹500 from a choice of popular brands like Amazon, Bigbasket, Uber, or Lifestyle. This benefit is awarded upon spending ₹5,000 or more within 30 days of the card generation.
  • Eligibility: Spends of ₹5,000 within 30 days of card generation, applicable only to the Primary Card.
  • Fulfilment: An SMS/email containing a link to the reward section of the mobile banking app will be sent within 4-5 working days after meeting the spend criteria. The voucher can be redeemed within 90 days of receiving the communication.
  • Exclusions: Not applicable on UPI, Add-on card transactions, wallet load, EMI converted transactions, and ATM cash withdrawals. Reversed, cancelled, or disputed transactions will not count towards the spend criteria.
• Up to ₹1,000 Cashback on First EMI: Enjoy 5% cashback, capped at ₹1,000, on your first EMI transaction converted within the initial 30 days of card generation.
  • Eligibility: Applicable only on the first EMI conversion within the first 30 days of card generation.
  • Fulfilment: Eligible customers will receive the cashback within 90 days of the offer end date.
  • Exclusions: Transactions on gold and jewellery are not eligible for EMI conversion. Delinquent customers at the time of fulfilment are not eligible. Reversed, cancelled, foreclosed, or disputed EMI transactions are excluded.

Fees

• Joining Fee: Nil (Lifetime Free)
• Annual Fee: Nil (Lifetime Free)
• Interest Rates / Annual Percentage Rate (APR): Ranges from 8.5% to 46.2% per annum (equivalent to 0.75% to 3.5% per month). The actual rate depends on the individual's credit score, repayment history, and usage pattern.
• Foreign Currency Markup: 1.99% + GST on international transactions, including those conducted in Indian rupees.
• Cash Advance Charges: ₹199 + GST per transaction. Cash withdrawals are interest-free for up to 45 days.
• Rewards Redemption Fee: ₹99 + GST per redemption.
• Fuel Surcharge Waiver: 1% fuel surcharge waiver up to ₹300 per statement cycle on transactions between ₹200 and ₹5,000 at all fuel stations across India.
• UPI Activation Fee: ₹199 + GST (as a joining/annual fee for UPI linkage).

Rewards

• 10X Reward Points:
  • Earn 10X reward points on incremental spends above ₹20,000 per statement cycle.
  • Earn 10X reward points on all spends made on your birthday.
  • Exclusions from 10X milestone calculation: Rental & Property Management, Government Services, Education, Wallet Load, Utility, and Insurance transactions.
• 3X Reward Points:
  • Earn 3X reward points on total spends up to ₹20,000 in a statement cycle.
  • Earn 3X reward points on specific categories including Education, Wallet Load, Government Services, Rent, and Property Management/Purchase transactions. These transactions are counted for 3X but not towards the 10X spends milestone.
• 1X Reward Points: Earn 1X reward points on Insurance premium payments and Utility bill payments. These transactions are not counted towards the 10X spends milestone.
• UPI Spends: Earn up to 3X reward points on UPI spends.
• Accelerated Rewards on Travel (via Mobile App's 'Travel and Shop' section):
  • Earn 50X Bonus Reward Points on hotel bookings, in addition to regular credit card reward points.
  • Earn 20X Bonus Reward Points on flight bookings, in addition to regular credit card reward points.
• General Reward Point Information:
  • 1X = 1 Reward Point per ₹150 spent.
  • Reward points never expire as long as the card is active.
  • Reward program is not applicable on Fuel, EMI transactions, and Cash withdrawals.

Rewards Redemption Guide

• Redemption Channels: Reward points can be redeemed through the FIRST Rewards portal or the mobile banking app.
• Redemption Value: 1 Reward point is equivalent to ₹0.25.
• Redemption Options: Choose from e-vouchers, gift cards, flight bookings, hotel bookings, or at exclusive merchant stores.
• Redemption Fee: A convenience charge of ₹99 + GST is applicable per redemption.
• Non-Expiry: All accumulated reward points never expire, offering flexibility in when and how you use them.
• Crediting: Reward points are credited to your account at the time of your monthly statement generation.

Card Eligibility Criteria

• Age: Minimum 21 years.
• Income: Annual income of ₹12 lakhs or more for salaried or self-employed individuals.
• Credit Score: A decent credit score is required for approval.

Card Review

The IDFC FIRST Select Credit Card stands out as a lifetime-free card offering a strong value proposition, especially for users with significant monthly spending and travel needs. Its robust reward structure, providing up to 10X points on higher spends and birthdays, coupled with never-expiring points, ensures excellent long-term value. The low foreign currency markup of 1.99% makes it highly suitable for international travelers and shoppers, a significant advantage over many other cards. While it lacks complimentary international lounge access, the domestic airport and railway lounge benefits are a good perk for frequent domestic travelers. The array of welcome benefits, including a gift voucher and EMI cashback, adds to its appeal. Moreover, comprehensive insurance covers and lifestyle benefits like movie ticket offers and dining discounts make it a well-rounded choice. This card is ideal for individuals seeking a premium, fee-free card that rewards high spending and offers substantial travel and lifestyle advantages without the burden of annual charges.

Important Product Details

• Lifetime-free credit card with no joining or annual fees.
• Up to 10X never-expiring reward points on incremental spends above ₹20,000 per statement cycle and on your birthday.
• 3X reward points on spends up to ₹20,000 per statement cycle, including on specific categories like Education, Wallet Load, Government, Rent, and Property Management/Purchase transactions.
• 1X reward points on utility and insurance payments.
• Reward points are valued at ₹0.25 per point.
• Low foreign currency markup of 1.99% + GST on international transactions.
• Welcome benefits include a ₹500 gift voucher (on ₹5,000 spend in 30 days) and up to ₹1,000 cashback on the first EMI (within 30 days).
• 2 complimentary domestic airport lounge visits per quarter, contingent on spending ₹20,000 in the preceding month.
• 4 complimentary railway lounge visits per quarter, contingent on spending ₹20,000 in the preceding month (effective Feb 20, 2025).
• "Buy One, Get One" movie ticket offer (up to ₹125, twice monthly) on the District by Zomato app.
• 1% fuel surcharge waiver up to ₹300 per statement cycle on transactions between ₹200 and ₹5,000.
• Comprehensive insurance covers:
  • Air accident cover of ₹1 crore.
  • Personal accident cover of ₹5,00,000.
  • Lost card liability cover of ₹50,000.
  • Travel insurance cover up to USD 300, including Loss of Checked-in Baggage (USD 100), Delay of Checked-In Baggage (USD 67), Loss of Passport and other documents (USD 67), and Delay in Flight (USD 67).
  • Free trip cancellation cover up to ₹10,000 (maximum two claims per policy period).
• Complimentary 24/7 Roadside Assistance worth ₹1,399.
• Instant EMI conversion for all eligible online transactions on the bank’s OTP page.
• Interest-free cash withdrawals for up to 45 days (with a ₹199 + GST transaction fee).
• Access to 300+ merchant offers across dining, shopping, and travel.
• Negative Highlight: No complimentary international lounge access.

Other Details

• UPI Linkage: Activate UPI for a joining and annual fee (2nd year onwards) of ₹199 + GST. Special limited period offer includes 100% cashback up to ₹200 (₹50 each on the first 4 UPI transactions).
• Digital Convenience: Manage your card, control usage (online, contactless, international transactions, PIN reset), and make convenient repayments via India’s #1 Mobile Banking App.
• VISA Signature Privileges:
  • Airport meet and greet discounts at over 450 airports worldwide.
  • Airport transfer discounts on limousine services in over 3000 cities across 83 countries.
  • Travel concierge service for personalized assistance with dining, staycations, flights, and activities.
  • Access to over 900 hotels worldwide with luxury benefits (room upgrades, in-room WiFi, VIP status, continental breakfast, 3 PM check-out).
• MasterCard World Privileges:
  • Complimentary golf rounds and lessons: 4 golf rounds and 12 golf lessons per year globally.
    • India Golf Program: 1 round and 1 lesson per calendar month.
    • APAC Golf Program: 50% off on golf rounds or lessons across select countries.
• Card Generation PIN: Can be generated via Net Banking (pre-login/login), Mobile Banking App (pre-login/login), or Customer Care.
• POS Terminal Usage: PIN is required for transactions within India. For foreign countries, PIN is required only if the POS terminal supports PIN-based authentication. Contactless payments are available up to ₹5,000 via the mobile app.
• CFAR (Cancellation For Any Reason) Eligibility: Eligible if at least one transaction is made on the card in the calendar month preceding the start of the policy period. It is a complimentary benefit and does not require monthly transactions to remain active once issued. Bookings and cancellations must occur within the policy period.
• New Card Design: A refreshed card design has been available for cards issued from December 24, 2024, onwards. Existing cards retain their features and benefits.
• Customer Support: For assistance or queries, contact 18605001111 or email creditcard@idfcfirstbank.com.