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Changes in IDFC credit card rewards

Deal Cadet
Look for email with subject: "Important information regarding your IDFC FIRST Bank Credit Card"

Effective 21st August 2023, we will be making the following changes to the Reward Points:

1. Insurance premium payments (MCC 5960 and 6300) have been added to the reward program and will earn 1x Reward Points.

2. Paying utility bils (MCC 4900) will earn 1x Reward Points.

Note: Insurance premium payments and utility bills will not fall under the 10x Reward Points program and 10x threshold calculations.

We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
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Benevolent Benevolent
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All hopes gone ... was thinking to get this card. 1x means 0.25% INR.

BTW why they said insurances added to reward program ? since the beginning they were under online transactions.

Commentator Commentator
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Insurance was never included for RPs right from start when most other cards (ACE/FK etc) were giving rewards and now when all have stopped, IDFC have included it,  0.25Rs ~ 1x (Wealth CC) is better than nothing when paid through other cards now 😃

Wealth CC current exclusion:

1X = 1 Reward point per ₹100 spent | 1 Reward point = ₹0.25

Reward program not applicable on Fuel, Insurance, EMI transactions & Cash withdrawals

Rental and Property management transactions will not be a part of 10X reward program and 10X threshold calculations. However, such transactions will earn 3X reward points

Effective 1st October, 2022, a convenience fee of ₹99 (plus applicable taxes) will be levied on redemption of Reward Points

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Comrade Comrade
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Effective 21st August, 2023 we will be making the following changes to the Reward Points

Insurance premium payments (MCC 5960 and 6300) have been added to the reward program and will earn 1x Reward Points

Paying utility bills (MCC 4900) will earn 1x Reward Points


Insurance premium payments and utility bills will not fall under the 10x Reward Points program and 10x threshold calculations.

Rewarding your spends as always!



On offline purchases

Rent payments and any property management transactions such as society maintenance bills.
• Never-expiring 6x REWARD POINTS

On online purchases

• Never-expiring


On incremental online and offline spends above your respective Credit Card's monthly spending threshold.

All purchases done on your birthday.

Following exclusions on our Reward Program continue to apply as before:

•Fuel spends - Our Credit Cards offer 1% fuel surcharge waiver EMI Conversions/EMI Transactions

•Cash withdrawals from ATM (All our cards offer 0 interest cash withdrawal for up to 48 days, as opposed to other bank Credit Cards, which charge interest from date of withdrawal!)
Pro Community Angel Pro Community Angel
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Phir aise dheere dheere this card company shall become history! sweat_smile

Comrade Comrade
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They added insurance premium. Utility bills category to 1x rewards points. Now they realised without rewards and good offers they will not be entertained smile

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Generous Generous
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This is 3rd card I'll have to consider changing for Netflix monthly payments after these changes.

First, SBI Cashback CC stopped giving (5%) cashback, then Axis Flipkart CC (1.5%) and now IDFC First Wealth CC (1.5%) ... will have to change it to Amazon Pay ICICI CC now ... handling CCs have been a headache these days 😖

Finance Mentor Finance Mentor
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IDFC is good for government payments.. most of the times aces over axis ace. At least for the Select variant.

Deal Subedar Deal Subedar
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why aces? do you mean once 10x kicks in? 

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Benevolent Benevolent
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For First WoW Card Received This Msg.

Dear Customer, effective 21Aug2023 , Reward Program of your IDFC FIRST Bank Credit Card will be revised. Read More

Critic Critic
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@rajuvtz @cashif

Generous Generous
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Yep, disappointment one after another.

First, Magnus card got approved today and was thinking to at least achieve 2-3 milestones before devaluation but that has been done today and now this. Also, Neucard also has become kinda useless.

Have been paying bulk EB for almost 4 years but my earnings from them are minimal except for this year, but now almost all the rewards have been neutralized.

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Deal Subedar Deal Subedar
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Savings Mentor Savings Mentor
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IMHO, IDFC has the least rewarding credit cards in the entire industry. The ₹99 fee made them worthless worth less and IDFC is hell bent on making them more and more worthless smile What IDFC needs is at least one CASHBACK or regular instant discounts card. See everybody has one except IDFC.

SBI (Cashback), HDFC (Millennia), ICICI (Amazon Pay), Axis (Flipkart), Kotak (Myntra), BOB (Snapdeal) are all solid cashback cards. RBL has at least co-branded cards which give cashback or instant discount. IndusInd Legend gives reward points equivalent to 1.5% on weekends. Only IDFC and Yes Bank have flop CC portfolio with cards which aren't that rewarding IMHO. Even PNB RuPay Platinum is rewarding.

Benevolent Benevolent
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Indusind legend is also trash.

118 redemption charges on cash redemption.

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Deal Cadet Deal Cadet
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I made a tax payment of 2.26L with IDFC select card but after transaction settlement, it shows only 10894 points. It's less than 6x points.

Benevolent Benevolent
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I did some utility payments last montha db it settled 1-2 days before 21st. But I got only 6x points for them. My statement is generated, but remaining 4x is not added up. Are they correct in doing so?

Shouldn't they see transaction date for calculating 4x points?

Benevolent Benevolent
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Anyone knows if birthday benefit of 10x points work for excluded categories like utility and rent also?

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