IDFC Select Credit Card 10x Reward Program
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Recently I paid school fees of Rs 27,360 using my IDFC First Select Credi Card to utilize their 10x reward program for spending of >20K.
The credit card bill got generated 2 days back and I am surprised to see the points awarded for the >20K spend!
Their website mentions 1X = 1 Reward point per ₹100 spent | 1 Reward point = ₹0.25. So 6X reward points should be 6 point per Rs 100 spent and 10X reward should be 10 reward points per Rs 100 spent. Using that calculation, Rs 27360 should calculate to 2736 points. Even if we consider that 10x applies to amount only >20K, so Rs 7360 should calculate to 736 points.
So either I was expecting points earned as 2736 or (1642 + 736) = 2378. In actual they have credited only 1936 points!
Does anyone know how is their reward points calculated?
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Thanks, buddy. Makes sense to me now.
I was assuming that they give 10x reward on the total and not on the incremental spend 
Looks like 10x reward program is a waste. 1936 points calculates to Rs 484.
Had I used my Axis ACE credit card, I would have got 2% cashback on 27,360 = Rs 547.20 much better than the IDFC.
1200+736 so you got 1936. They are correct. 10x is applicable only on the incremental spends above 20k not the total spends