Closed my IDFC First Millenia CC

Good riddance 

dhinchakrohit wrote:
Good decision...Time to move in for all holding IDFC credit cards....Nothing lucrative now. Who charges for redeeming the points yar.

These days most issuers charging to redeem points - ICICI, RBL, IDFC, Indusind and list goes on .

dhinchakrohit wrote:
Good decision...Time to move in for all holding IDFC credit cards....Nothing lucrative now. Who charges for redeeming the points yar.

LordGane wrote:
HDFC also since ages. Around ₹115.

HDFC redemption fee is for physical gifts that are shipped. @LordGane @irajnish

ajitshukla2k13950 wrote:

These days most issuers charging to redeem points - ICICI, RBL, IDFC, Indusind and list goes on .

Hmm, these days I'm seriously thinking of not applying for any new card for at least the next 3-4 months. The Millennia, SimplyClick and OneCard is a good trio that works nice for me. Lots of devaluation going on and there seems to be no end of it...

Is the card market drying up and starting to die? With the Rupay-UPI combo slated to become mainstream and new-gen smart POS being replaced at offline shops which can be programmed to accept other means like NFC/UPI/QR, things look real bleak for traditional cards and networks like VISA/MC/Diners who have yet not got clearance (maybe a calculated move by govt.) for UPI linkage and maybe will not in near future. CB and benefits will all dry up with decreasing MDR and rise of alternative means for payment...

I guess ATMs/POS machines too might switch to fingerprint+OTP or QR+OTP combo and banks might say we are protecting the environment by not issuing plastic cards but linking transactions to virtual cards/UPI...

Agnivo007 wrote:

Hmm, these days I'm seriously thinking of not applying for any new card for at least the next 3-4 months. The Millennia, SimplyClick and OneCard is a good trio that works nice for me. Lots of devaluation going on and there seems to be no end of it...

Is the card market drying up and starting to die? With the Rupay-UPI combo slated to become mainstream and new-gen smart POS being replaced at offline shops which can be programmed to accept other means like NFC/UPI/QR, things look real bleak for traditional cards and networks like VISA/MC/Diners who have yet not got clearance (maybe a calculated move by govt.) for UPI linkage and maybe will not in near future. CB and benefits will all dry up with decreasing MDR and rise of alternative means for payment...

@UniqueDimer I'm seeing some at various malls or outlets, hospitals, even small shops that are just like smartphones with a card reader that can do everything - NFC/Card/UPI/QR/Voucher, receives OTA updates too... I don't deal in them professionally so can't say specifically, but pine labs machines might be those, also some from ICICI... many banks are now offering these as default or upgrading old ones I guess.

Agnivo007 wrote:

@UniqueDimer I'm seeing some at various malls or outlets, hospitals, even small shops that are just like smartphones with a card reader that can do everything - NFC/Card/UPI/QR/Voucher, receives OTA updates too... I don't deal in them professionally so can't say specifically, but pine labs machines might be those, also some from ICICI... many banks are now offering these as default or upgrading old ones I guess.

@UniqueDimer No, not professionally into those as I said, nothing more to add.

@InvestPotato I understand your pain, not sure why but IDFC CS, sales has no control over card upgrade. However I think they have a way to put in notes, nothing else they can do.

I was being offered classic/ millennia for quite some time and I just asked them to offer something better and they were helpless. One fine day I got a call and was offered select, somehow it was like that person knew what I wanted.

With their point redemption charges in place, using the card for points doesn't make any sense. However I am keeping their card only for movie ticket on paytm (it even works when BMS fails on most of their offers), free RSA & railway lounge 4/Qtr.

ajitshukla2k13950 wrote:

These days most issuers charging to redeem points - ICICI, RBL, IDFC, Indusind and list goes on .

@Seinfeld I think I read somewhere they allow points redemption while making a payment (on otp page), is that available / chargeable?

irajnish wrote:
I redeem hdfc millennia dc and cc rewards almost every month never got charged for redemption 🤔

what's the process to close the IDFC credit card?

legend101 wrote:
Indusind says its charging but never charged me for cash redemption. Even didn't charge gst for my card upgrade fee on 15k+gst.

Agnivo007 wrote:

@Seinfeld I think I read somewhere they allow points redemption while making a payment (on otp page), is that available / chargeable?

Thats available.. I have used up all my points before they started charging.

I do not know if they charge for it or not now. But they do write this:

Effective 1st Oct 2022, Reward redemption through any redemption channel will attract a small convenience charge of ₹99 (+ applicable taxes) per redemption transaction. Since you are an existing customer, you have adequate time to redeem your accumulated Reward Points without any redemption charges for redemptions done before 1st Oct 2022.

Update: They do charge for sure.

Seinfeld wrote:

@InvestPotato I understand your pain, not sure why but IDFC CS, sales has no control over card upgrade. However I think they have a way to put in notes, nothing else they can do.

I was being offered classic/ millennia for quite some time and I just asked them to offer something better and they were helpless. One fine day I got a call and was offered select, somehow it was like that person knew what I wanted.

With their point redemption charges in place, using the card for points doesn't make any sense. However I am keeping their card only for movie ticket on paytm (it even works when BMS fails on most of their offers), free RSA & railway lounge 4/Qtr.

I warned them multiple times that I will close the card. They should have listened to me.

Anyways i made 1250 (as joining bonuses) on just signing up this card for 2 months.

I had a idfc classic card. I requested  to upgrade to select variant by mail. They rejected. I added next level team in mail. They asked my payslips. I submitted. I got limit enhancement first. Then upgraded to idfc select credit card. 😀

rakhee4java872 wrote:

I had a idfc classic card. I requested  to upgrade to select variant by mail. They rejected. I added next level team in mail. They asked my payslips. I submitted. I got limit enhancement first. Then upgraded to idfc select credit card. 😀

InvestPotato wrote:
what is the next level team email?

[email protected]

rakhee4java872 wrote:

Also, I wonder if it should be "Sir" or "madam" as per userid "rakhee..." here... IDFC is such callous if it's "madam" in reality...

@akki.akki Maybe the poster likes/is into calligraphy...

Agnivo007 wrote:

Also, I wonder if it should be "Sir" or "madam" as per userid "rakhee..." here... IDFC is such callous if it's "madam" in reality...

@akki.akki Maybe the poster likes/is into calligraphy...

I am a boy and my name is Rakesh 😀

rakhee4java872 wrote:

I am a boy and my name is Rakesh 😀