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IDFC First Bank Credit Cards Devaluation

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Effective from 1st May 2024. 

Adding all the links for IDFC credit cards:

Millennia:

https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/cvp/MillenniaCVP.pdf

Classic:

https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/cvp/ClassicCVP.pdf

Select:

https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/cvp/SelectCVP.pdf

Wealth:

https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/cvp/WealthCVP.pdf


Highlights:

  • Points system changed. For e.g., 6x rewards on online spending changed to 3x
  • 3X = 3 Reward Points per Rs. 150 spent.
  • Rewards were per Rs. 100 earlier. i.e., 33.33% reduction in rewards calculations.
  • BOGO offer on Paytm reduced from Rs.250 to Rs.125 for Select credit card and Rs.500 to Rs.250 for Wealth credit card.
  • Domestic airport lounge now requires a minimum spend of 20k for select and wealth cards.
Disclaimer
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.
Top Comments
Deal Newbie Deal Newbie
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IDFC Wealth card is the most impacted with this change from 1st May

0.5% default rewards up to 20,000 spends. Theron, 1.66% unlimited.

I am very disappointed with this change. RBI should stop all the non sense YouTube videos by the so called influencers exposing loop holes in the banking system for ensuring safety and fair usage of the financial instrument. and at the same time restrict banks from massive devaluation. At the end we as end consumers suffer. People should stop abusing reward points and cashbacks.

Shopping Friend Shopping Friend
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Now my Amazon Pay ICICI card looks best. Atleast I can close my eyes and spend anywhere getting 1% cashback no strings applied.

The IDFC card practically became useless. My LTF SBI SimplyClick now looks much better

Finance Mentor Finance Mentor
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Apay ICICI now doesn't give on government payments, yes, still holding sclick even if paid, shall try to make ltf...

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Deal Cadet Deal Cadet
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Are these 2 Lounge Access per quarter are given on based of 20,000 spend?

Means no more free lounge access?

Deal Cadet Deal Cadet
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Yes, that's correct.
Deal Cadet Deal Cadet
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Kya karna chiye dosto ab... In the name of LTF already there are lots of cards. Main use was b1g1 on bms now that too is 125... Should we go ahead and close as there are not much other offers in IDFC. I have idfc select. Got a few months back

Freebie Finder Freebie Finder
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I will suggest you keep this credit card as long as it is LTF and might be required for bank offers in sale. Also, you will get a free roadside assistance program along with this card that may be useful if you own a car.

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Deal Baba Deal Baba
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The best thing that happened to me was - I applied the card on 29 March (Wealth) due to easy approval (year end) but my pincode was not serviceable joy_cat

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