IDFC Wealth Credit Card - Eligibility Criteria?

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Deal Cadet
satswid

I am trying to get my hands on IDFC First Wealth CREDIT card(VISA Infinite). My RM says that there is some internal criteria for getting that card, that they cannot share.

They said they only have pre-approved First Select Card that they can give me.

Did any of you manage to get this card?

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Deal Cadet Deal Cadet
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From what I read on website, it was 36Lakh income.

Deal Lieutenant Deal Lieutenant
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Tagging @aam_aadmi who has this card I believe.

In general you either need to have a really high NRV with IDFC; or have the required ITR (36L+) or other such super premium cards like Amex plat, Infinia for starters.

Deal Subedar Deal Subedar
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BlueFlash wrote:

Tagging @aam_aadmi who has this card I believe.

In general you either need to have a really high NRV with IDFC; or have the required ITR (36L+) or other such super premium cards like Amex plat, Infinia for starters.

Hi, had one question in general regarding ITR if you don’t mind asking. Can you please clarify if Gross total income [1(d) in Form16] which include unrealised income like stocks(SOPs) be given or only the Base salary [1(a) in Form16] in general for salaried people ? Thanks

Deal Lieutenant Deal Lieutenant
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Random123 wrote:

Hi, had one question in general regarding ITR if you don’t mind asking. Can you please clarify if Gross total income [1(d) in Form16] be given or only the Base salary [1(a) in Form16] in general for salaried people ? Thanks

In general for any CC applications, by ITR/salary it’s  generally grosspay (even though website might say netpay, the bank official will be fine even if your gross also matches the minimum req). However, you can’t include things like stock holdings and all. It should be your salary’s gross pay only. Example, if your gross is 11L, but your net is 9L, and the CC application asks 10L min, then you should be fine; Best would be to apply offline via branch after consulting with RM (however, in case of super premium cards which ask like 30L+ above, in such cases your existing relationship (NRV) which includes stock holdings (via their AMC/Broker only) or even health/life insurance (again issued via them only) might also be considered… but for normal cards asking like 6-12L, it’s purely income)

Deal Subedar Deal Subedar
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BlueFlash wrote:

In general for any CC applications, by ITR/salary it’s  generally grosspay (even though website might say netpay, the bank official will be fine even if your gross also matches the minimum req). However, you can’t include things like stock holdings and all. It should be your salary’s gross pay only. Example, if your gross is 11L, but your net is 9L, and the CC application asks 10L min, then you should be fine; Best would be to apply offline via branch after consulting with RM (however, in case of super premium cards which ask like 30L+ above, in such cases your existing relationship (NRV) which includes stock holdings (via their AMC/Broker only) or even health/life insurance (again issued via them only) might also be considered… but for normal cards asking like 6-12L, it’s purely income)

Thanks a lot for the detailed explanation. Sorry I know it is not related to the OPs query. Just one last question – stocks which your company provides would also be not considered in gross pay right and it is only take home ? Also I am not sure how to give karma smile

Deal Lieutenant Deal Lieutenant
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Random123 wrote:

Thanks a lot for the detailed explanation. Sorry I know it is not related to the OPs query. Just one last question – stocks which your company provides would also be not considered in gross pay right and it is only take home ? Also I am not sure how to give karma smile

Ohk, you meant stocks as in SOPs (shares given to employees by their employer)… I don’t think this should be considered in gross pay; by gross I meant base pay (ie. pre-tax salary); SOPs are part of CTC, which generally wouldn’t be considered for CC applications; Still I would suggest you to reach out to your RM (if you existing relationship), just walk in a main branch and confirm with the manager; coz I feel your query is mostly for a super-premium card and you might be having a decently high itr/salary, in which case the bank official can only tell the exact eligibility for you.

Crowdpuller Crowdpuller
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What’s the use of this wealth card, it’s just another ordinary card as of now. U can get one by keeping 10L relationship i guess..

Deal Subedar Deal Subedar
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B-i-L received it. Was pre-approved. 8.67 L limit. No high NRV maintained. No C2C. Account linked to demat so transactions used to be regular. 

Deal Subedar Deal Subedar
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BlueFlash wrote:

Ohk, you meant stocks as in SOPs (shares given to employees by their employer)… I don’t think this should be considered in gross pay; by gross I meant base pay (ie. pre-tax salary); SOPs are part of CTC, which generally wouldn’t be considered for CC applications; Still I would suggest you to reach out to your RM (if you existing relationship), just walk in a main branch and confirm with the manager; coz I feel your query is mostly for a super-premium card and you might be having a decently high itr/salary, in which case the bank official can only tell the exact eligibility for you.

Thanks again for patiently explaining. Yes was looking for Eterna LTF and they mentioned 30 lpa but base pay is less than that, so was trying to understand. I am new to credit cards and wanted some guidance. Sorry again OP for taking discussion off track.

Deal Cadet Deal Cadet
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.

Deal Cadet Deal Cadet
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I had got wealth variant last month. Still not used for a single time. Not find anything special reason to use yet.
Applied online was shown 4lacs limit without docs or 10 lacs limit with current card statement. I submitted hdfc statement which has limit more than 10 lacs
Got issued card with 10L limit without any additional  docs.
Income not shared. No existing idfc relation.

Deal Subedar Deal Subedar
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Anyone recently applied for idfc cc while having bank account with them ?

Deal Subedar Deal Subedar
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akki.akki wrote:

Anyone recently applied for idfc cc while having bank account with them ?

Yes

Deal Cadet Deal Cadet
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great wrote:

I had got wealth variant last month. Still not used for a single time. Not find anything special reason to use yet.
Applied online was shown 4lacs limit without docs or 10 lacs limit with current card statement. I submitted hdfc statement which has limit more than 10 lacs
Got issued card with 10L limit without any additional  docs.
Income not shared. No existing idfc relation.

Was your HDFC NRV very high?

Deal Cadet Deal Cadet
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dhinchakrohit wrote:

What’s the use of this wealth card, it’s just another ordinary card as of now. U can get one by keeping 10L relationship i guess..

It’s a VISA infinite card, which has its own perks.

Beacon Beacon
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Any way to upgrade a Select to a Wealth variant?

Deal Cadet Deal Cadet
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satswid wrote:

It’s a VISA infinite card, which has its own perks.

if VISA Infinite is only the need then try AU Zenith Card …not much of hassle to get it…
They need their saving account and physical address verification and Card to card approval possible.

Deal Cadet Deal Cadet
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anjulk2281 wrote:

if VISA Infinite is only the need then try AU Zenith Card …not much of hassle to get it…
They need their saving account and physical address verification and Card to card approval possible.

Is it LTF though?

Pro Shopping Friend Pro Shopping Friend
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satswid wrote:

Is it LTF though?

Annual Card Membership fee – Rs. 7,999 + applicable taxes

@dhinchakrohit

IDFC cards are one of the best now

a.LTF

b.2.5% RP

c. RP never expire and no redemption fee, also pay with points

d.RP credited same statement and no 90/120 day gimmicks

many other benefits like railway lounge/airport lounge, movie tickets(B1G1)…

Deal Cadet Deal Cadet
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DealBu5ter wrote:

Any way to upgrade a Select to a Wealth variant?

Approach writing to credit card customer care that u would need an upgrade from select to wealth provided if u got idfc first savings account with Net relationship value of more than 10L

Deal Newbie Deal Newbie
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I have 2 idfc first bank credit cards.
1st one issued in January 2021 which is wealth.
2nd is Millenia issued by December 2021. I randomly went to see to find whether i am eligible for the new idfc private credit card which is yet to launch, through idfc application online, but this idfc millenia card popped out. So why leave it, so grabbed it.
Over this after getting my second credit card from idfc, i was taking with their customer care regarding a query, the executive was surprised to see 2 credit card of idfc tagged to me. And above all this, I dont have any savings account with idfc. laughing

Beacon Beacon
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desiredreams wrote:

Approach writing to credit card customer care that u would need an upgrade from select to wealth provided if u got idfc first savings account with Net relationship value of more than 10L

I don’t have an account with IDFC bro
Will a CC statement of 5L+ suffice?

Deal Cadet Deal Cadet
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DealBu5ter wrote:

I don’t have an account with IDFC bro
Will a CC statement of 5L+ suffice?

If u already have select card and also another credit card with good higher credit limit then write a mail to customer care and check. But its all depends on bank’s internal criteria

Elite Elite
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great wrote:

I had got wealth variant last month. Still not used for a single time. Not find anything special reason to use yet.
Applied online was shown 4lacs limit without docs or 10 lacs limit with current card statement. I submitted hdfc statement which has limit more than 10 lacs
Got issued card with 10L limit without any additional  docs.
Income not shared. No existing idfc relation.

If IDFC showed you Wealth card while checking for eligibility online, then you must be holding some premium cards already like Infinia, etc. While enquiring CIBIL score, they also check what kind of cards you hold.

Deal Cadet Deal Cadet
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ontherocks wrote:

If IDFC showed you Wealth card while checking for eligibility online, then you must be holding some premium cards already like Infinia, etc. While enquiring CIBIL score, they also check what kind of cards you hold.

i hold infinia with 15L limit

Deal Cadet Deal Cadet
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desiredreams wrote:

If u already have select card and also another credit card with good higher credit limit then write a mail to customer care and check. But its all depends on bank’s internal criteria

Will HDFC DCB with 5L limit work? Axis Flipkart/Privilege and MMT ICICI is also 5L, but not premium.

Deal Cadet Deal Cadet
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great wrote:

i hold infinia with 15L limit

flushed

What’s your NRV with HDFC/IDFC?

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