Change in IDFC First Credit card reward structure effective May 17 2022

--AJ-- wrote:

How 5k cashback? Can you please explain? I am already getting 10x points for online spends after 20k spend till last month. Terms changed from this month 25k spend required for 10×. Offline transactions are also eligible for 10x points?

axis bank magnus has recently introduced milestone on achieving 1L spend every month.

jambui wrote:

axis bank magnus has recently introduced milestone on achieving 1L spend every month.

Already hold many cards. And axis has worst customer service. Closed my savings and current account 2 years back. Dont want to add axis.

--AJ-- wrote:

Already hold many cards. And axis has worst customer service. Closed my savings and current account 2 years back. Dont want to add axis.

I know, I am using their card only. And support is ok for once I have called them.

--AJ-- wrote:

Offline transactions after 25k spend will be counted in 10x rp? Using select card for last 4 months my spends are 1L per month.

All genuine spends? Asking because high chances of card blocking if txns are mainly rent payments/wallets/bill payments etc.

guest_999 wrote:

All genuine spends? Asking because high chances of card blocking if txns are mainly rent payments/wallets/bill payments etc.

Genuine transactions. Mostly from hotels and online purchases commercial.

--AJ-- wrote:

Genuine transactions. Mostly from hotels and online purchases commercial.

Keep in mind that spending more than 10 lakh on credit card bill payments/txns in a year means ITR must be filed & supporting that expenditure.

guest_999 wrote:

Keep in mind that spending more than 10 lakh on credit card bill payments/txns in a year means ITR must be filed & supporting that expenditure.

Yes i aware, my total spends in a year is more than 1cr. My auditor said cc statements not required. May be i will add it in future, expecting for notice.

--AJ-- wrote:

Yes i aware, my total spends in a year is more than 1cr. My auditor said cc statements not required. May be i will add it in future, expecting for notice.

CC statement not required in any case as long as your total spend on cc is justified by the income shown in your itr.

For spends done until May 17, old regime will be considered right?

kshmr wrote:

For spends done until May 17, old regime will be considered right?

same question 😄

TEMPER wrote:

same question 😄

+2

Is is applicable immediately from 17th or next billing cycle?
For example, if billing cycle is from 25th to 24th, so the changes will be applicable from 25th May onwards right?
Can anybody confirm

avgn wrote:

Classic and Millennia
1x per 150
No change in 20k milestone

Select
1x per 125
20k changed to 25k

Wealth
20k changed to 30k

In terms of age,

what will be effective reward rate of Millenia compared to previous 1.5 and 2.5%?

Can you tell?

kshmr wrote:
In terms of %age,

what will be effective reward rate of Millenia compared to previous 1.5% and 2.5%?

Can you tell?

guest_999 wrote:
Never average any share without proven good fundamentals especially in banking & finance sector comapnies.
"@bikidas2060":https://www.desidime.com/users/...51 "@malikcool":https://www.desidime.com/users/...63

rohan8397 wrote:
I averaged at 37. Abhi thik thak chal raha hai... Cc: @bikidas2060 @malikcool

guest_999 wrote:
You got lucky this time but you won't be every time.

rohan8397 wrote:
Are sir... Aisa bhi mat bolo...

guest_999 wrote:
Just telling the harsh reality bro, for every successful averaging I know 10 others which proved unsuccessful.

rohan8397 wrote:
Hindustan zinc, HDFC life aur NMDC bhi average kiya hua hai.

I have also added IDFC First Bank to my portfolio recently when it negated the lower-low pattern.

@bikidas2060

@MrKool_JJ

@guest_999

@rohan8397

guest_999 wrote:
Averaging in well established companies is alright but even there don't forget the cost of averaging vs eventual returns.
@bikidas2060 @malikcool

malikcool wrote:

I have also added IDFC First Bank to my portfolio recently when it negated the lower-low pattern.

@bikidas2060

@MrKool_JJ

@guest_999

@rohan8397

MrKool_JJ wrote:
Great pick...
missed the rally

Real rally will be for those able to figure out how to exploit loophole to get 5% till 10000 cb every month on sbi cashback card. Some here already figured out till 1.5-2k cb per month but I am guessing real legends won't post such info here unless trick becomes very hard to hide. 

guest_999 wrote:

Real rally will be for those able to figure out how to exploit loophole to get 5% till 10000 cb every month on sbi cashback card. Some here already figured out till 1.5-2k cb per month but I am guessing real legends won't post such info here unless trick becomes very hard to hide. 

Not true for everyone. Just alone my AWL is fetching me much more profit than what you are talking about. Though I don't consider it as a profit yet as it is unrealised. 

malikcool wrote:

Not true for everyone. Just alone my AWL is fetching me much more profit than what you are talking about. Though I don't consider it as a profit yet as it is unrealised. 

Really not like the Reward Redemption Fee..After all we earn the reward by spending..Now charging Redemption Fee on top of that ,is really baseless..

malikcool wrote:

I have also added IDFC First Bank to my portfolio recently when it negated the lower-low pattern.

@bikidas2060

@MrKool_JJ

@guest_999

@rohan8397

Can you explain "Negating Lower Lows" ? 

Does HDFC Life is one of such stock? https://chartink.com/screener/negating-lowe...ws