IDFC FIRST Select Credit Card – Benefits, Fees & Eligibility

Introduction

The IDFC FIRST Select Credit Card, issued by IDFC FIRST Bank, is positioned as a lifetime free credit card offering premium privileges without any annual fees. It stands out with a low foreign currency markup of 1.99%, accelerated 10X reward points on dining, travel, and international transactions, and complimentary access to domestic airport and railway lounges. This card is designed for individuals seeking a well-rounded card with travel and lifestyle benefits without incurring maintenance costs.

Welcome Benefits

• Gift Voucher: Receive a gift voucher worth ₹500 from a choice of top brands upon spending ₹5,000 or more within 30 days of card generation. This benefit is applicable only for primary card spends and excludes UPI, add-on card transactions, wallet loads, EMI converted transactions, and ATM cash withdrawals.
• EMI Cashback: Get a 5% cashback, up to ₹1,000, on your first EMI transaction made within the first 30 days of card generation. This offer is applicable only on the first EMI conversion and excludes transactions on gold and jewelry.

Fees

• Joining Fee: Nil
• Annual Fee: Nil
• Spend-Based Waiver: Not applicable as the card is lifetime free.
• Rewards Redemption Fee: ₹99 + GST per redemption.
• Foreign Currency Markup: 1.99% + GST (effective cost of approximately 2.35%) on international transactions, including those conducted in Indian rupees.
• Interest Rates: Ranges from 8.5% to 46.2% per annum, depending on credit score, repayment history, and usage pattern.
• Fuel Surcharge: 1% waiver on fuel transactions between ₹200 and ₹5,000, with a maximum waiver capped at ₹300 per statement cycle.
• Cash Advance Charges: ₹199 + GST per transaction. Cash withdrawals are interest-free for up to 45 days.
• UPI Activation Fee: ₹199 + GST (joining and annual fee for UPI, if applicable).

Rewards

• Accelerated Rewards:
  • Earn 10 Reward Points per ₹200 spent on Dining, Travel, International purchases, and spends done on your birthday.
  • Earn 3 Reward Points per ₹200 spent on all other eligible transactions, including regular retail, rent, education, government, and wallet transactions.
  • Earn 1 Reward Point per ₹200 spent on Insurance, Utilities, Railways, and FASTag recharges.
• Bonus Reward Points on Travel Bookings:
  • Earn 20% Bonus Reward Points on hotel bookings made through the 'FIRST Rewards Gallery' section on the IDFC FIRST Bank Mobile App, over and above regular reward points.
  • Earn 10% Bonus Reward Points on flight bookings made through the 'FIRST Rewards Gallery' section on the IDFC FIRST Bank Mobile App, over and above regular reward points.
  • Note: Till June 18, 2026, earn 33% Bonus Reward Points on hotel bookings and 13% Bonus Reward Points on flights.
• Exclusions: No reward points are accrued on fuel transactions, EMI transactions, or cash withdrawals.
• Reward Point Earning Conditions: Reward points will be earned for spends up to your credit limit per billing cycle. Additional spends beyond this will not be eligible for Reward Points. Reward points are credited upon statement generation, provided the Minimum Amount Due (MAD) has been realized on or before the Payment Due Date (PDD).

Rewards Redemption Guide

• Redemption Value: 1 Reward Point is equivalent to ₹0.25.
• Redemption Options: Reward points can be redeemed across a variety of options at the Poshvine reward portal or the 'FIRST Rewards Gallery' section on the IDFC FIRST Bank mobile banking app. Options include e-vouchers, gift cards, flights, hotel bookings, and eligible online purchases.
• Redemption Fee: A convenience charge of ₹99 + GST applies per redemption.
• Expiry: Reward Points earned from the July 2026 statement cycle onwards are valid for 24 months from the date of credit. Previously, reward points did not expire.

Card Eligibility Criteria

• Minimum Age: The applicant must be at least 21 years old.
• Annual Income: The applicant should have an annual income of ₹12 lakh or more.
• Credit Score: The applicant should have a decent credit score.

Card Review

The IDFC FIRST Select Credit Card is a strong contender in the lifetime free segment, offering a compelling mix of travel and lifestyle benefits without any joining or annual fees. Its low forex markup of 1.99% makes it suitable for international transactions, complemented by 10X reward points on dining, travel, and international spends. The card also provides valuable perks like domestic airport and railway lounge access, roadside assistance, and comprehensive insurance covers.

Pros:

• Lifetime free with zero joining or annual fees.
• Low foreign currency markup of 1.99%.
• Complimentary domestic airport lounge access (1 per quarter) and railway lounge access (4 per quarter).
• Complimentary roadside assistance up to 4 times a year.
• Flexible reward redemption options against online purchases, flights, and hotels.
• Comprehensive insurance benefits including air accident cover, personal accident cover, lost card liability, and trip cancellation cover.
• Offers reward points on categories like rent, education, government payments, and wallet loads, which are often excluded by other cards.

Cons:

• The reward rate on regular spending (3X) is considered average.
• Key benefits like domestic airport lounge access, railway lounge access, and movie offers are now spend-based, requiring a minimum spend of ₹20,000 in the previous calendar month to unlock benefits for the following month.
• Reward points now expire after 24 months (effective July 2026 statement cycle), replacing the earlier no-expiry policy.
• Does not offer complimentary international airport lounge access.
• The movie benefit is linked to a spending requirement.

Verdict: The IDFC FIRST Select Credit Card is an excellent choice for individuals seeking a well-rounded, lifetime free credit card that offers a blend of travel perks, useful insurance benefits, and a low forex markup. While some benefits now come with spending requirements and the reward points have an expiry, its overall value proposition for a zero-fee card remains strong, especially for those who can meet the monthly spend thresholds for lounge and movie benefits. It may not be the most rewarding card for maximizing cashback or points on all spends, but it delivers solid value for its price.

Important Product Details

• Lifetime Free: No joining or annual fees.
• Welcome Benefits: ₹500 gift voucher on ₹5,000 spend within 30 days, and 5% cashback up to ₹1,000 on first EMI transaction within 30 days.
• Rewards:
  • 10X Reward Points per ₹200 on Dining, Travel, International transactions, and birthday spends.
  • 3X Reward Points per ₹200 on most other eligible spends.
  • 1X Reward Point per ₹200 on Insurance, Utilities, Railways, and FASTag recharges.
  • Bonus Reward Points on flight (10%) and hotel (20%) bookings via IDFC FIRST Bank mobile app.
• Foreign Currency Markup: Low 1.99% + GST.
• Lounge Access:
  • 1 complimentary domestic airport lounge access per quarter (requires ₹20,000 spend in previous calendar month).
  • 4 complimentary railway lounge accesses per quarter (requires ₹20,000 spend in previous calendar month, effective Feb 20, 2025).
• Movie Benefits: "Buy 1 Get 1" movie ticket offer up to ₹125 via District mobile app, twice every month (requires ₹20,000 spend in previous calendar month, effective June 18, 2026).
• Insurance Benefits:
  • Air Accident Cover: ₹1 Crore.
  • Personal Accident Cover: ₹5 Lakh.
  • Lost Card Liability Cover: ₹50,000.
  • Trip Cancellation Cover (CFAR): Up to ₹10,000 for non-refundable hotel and flight cancellations (max two claims per policy period).
  • Comprehensive Travel Insurance Cover: Up to USD 300 (Loss of Checked-in Baggage: USD 100, Delay of Checked-In Baggage: USD 67, Loss of Passport: USD 67, Delay in Flight: USD 67).
  • Valid on making at least one transaction on the card in the last 30 days for accident and lost card liability cover.
• Roadside Assistance: Complimentary roadside assistance worth ₹1,399, up to 4 times per year.
• Fuel Surcharge Waiver: 1% waiver on transactions between ₹200 and ₹5,000, capped at ₹300 per statement cycle.
• EMI Options: Instant EMI conversion for all online transactions on the bank’s OTP page.
• Merchant Offers: Access to over 300+ merchant offers across dining, shopping, and travel.
• UPI Integration: Option to activate UPI on the card for ₹199 + GST (joining/annual fee). Limited period offer of 100% cashback up to ₹200 (₹50 each on first 4 UPI transactions) and earn up to 3X reward points on UPI spends.

Other Details

• Card Network: Visa Signature.
• Reward Point Expiry: Reward Points earned from the July 2026 statement cycle onwards are valid for 24 months from the date of credit.
• Reward Point Crediting: Reward points are credited upon statement generation, provided the Minimum Amount Due (MAD) has been realized on or before the Payment Due Date (PDD).
• PIN Generation: PIN can be generated via Net Banking (pre-login or login), Mobile Banking App (pre-login or login), or by calling Customer Care.
• PIN Usage: PIN entry is required for domestic POS transactions. For international transactions, PIN entry is required if the POS terminal supports PIN-based authentication. Contactless payments up to ₹5,000 are available if activated.
• CFAR Eligibility: To be eligible for Cancellation For Any Reason (CFAR) benefit, at least one transaction must be made on the card in the calendar month preceding the start of the policy period. Once the policy is issued, it is not mandatory to transact every month to keep it active. Both bookings and cancellations must be made within the policy period. CFAR is a complimentary benefit and coverage cannot be increased. Claims are limited to twice in a policy period.
• Credit Limit: For first-time applicants, the credit limit is as per internal policies. For existing IDFC FIRST Bank unsecured credit cardholders, the new card will have the same shared credit limit.
• Lounge Benefit Notification: IDFC FIRST Bank informs customers via email in the first week of every month regarding lounge benefit activation.
• Mobile Banking App: The app allows users to access virtual credit card, view transaction details, e-statements, outstanding amounts, control card usage (online, contactless, international transactions, PIN set/reset), make convenient repayments, and discover exclusive offers and redeem reward points.
• Legal Disclaimers: Various benefits are subject to specific Terms & Conditions, which are available on the bank's website.