New to IDFC First Bank Wealth Debit Card - How to fully utilize it?

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sahil1033

I recently got upgraded to IDFC First Bank's Wealth banking programme. I've activated the Wealth DC as well and I'm completely new to FIRST Rewards.

I've a few doubts though, requesting your assistance in this regard.

8,000 RP for first ever transaction above Rs. 1,000
Q:
Is it applicable for Rs. 1,001 and above or even Rs. 1,000 will do? Also, what's the best possible way to utilize this offer? I was thinking of purchasing Amazon Pay Gift Card from Amazon worth Rs. 1,000 since I don't have a four-wheeler, else would've surely fuelled up for Rs. 1k. I'm looking for a way to spend Rs. 1k where anyway there's low reward rate and I do have SBI Cashback CC for purchasing Amazon Pay GC but if I don't find anything better, I'll buy that only.

250 RP for first bill payment via mobile banking / internet banking every month

Q:
I could see that there's credit card bill payments option in mobile banking but CC bill payments comes under exclusion list for fetching RPs, so, what's the best way in this category again? I've about 6 RuPay Platinum DCs, so, electricity bill, prepaid mobile recharges are well handled at 20% off upto Rs. 100 and I don't have DTH connection or water bill to pay. Please suggest.

4X RP per Rs. 150 spent online

Q:
 What are the other places where this DC can be used to earn points for online transactions? It'll give 4X points, so, that would be approximately 0.67% reward rate, at least better than SBI DC's 0.25% reward rate.

Reward points validity?
Q:
Are the points valid for lifetime just like Wealth CC ?? If yes, that would be good as I'll redeem at one go when needed to minimize loss via redemption fee levied at Rs. 99 + 18% GST.

10X RP (at 1 RP / Rs. 100) on crossing threshold amount of Rs. 50k
Q:
 After crossing spends of Rs. 50k, does it mean that RPs will be credited as 10X per Rs. 100 spent as opposed to Rs. 150 spent? If that's the case, it means 2.5% reward rate which is good. Also, is this spend counted in a calendar month and refreshes on day 1 of next calendar month?

Anything else you would like to enlighten me upon, please do so. TIA.

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38 Comments  |  
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Savings Mentor Savings Mentor
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A. Yes you should get 8000 RPs for any first txn above 1K.

A. Credit card bills count as long as they're BBPS bill payments but make sure to pay from the IDFC app and pay using bank account, not IDFC CC or DC.

A. Use SBI Unipay website. That's where it fetches RPs. In fact you can do your first txn above 1K also here to pay some CC bill and it'll give 8000 RPs + normal txn points.

A. Reward Points don't expire. You can let them accumulate and redeem at once to avoid ₹99+GST every time

A. Reward rate is 2% AFAIK but I forgot some things about it since I calculated it. It's monthly.

Benevolent Benevolent
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I'm still unclear on this part :

Yes you should get 8000 RPs for any first txn above 1K.

Will 1,000 work or do I need to pay 1,001 because above Rs. 1,000 excludes 1,000 ... 1,000 and above includes 1,000 ... I hope you get my point

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Deal Cadet Deal Cadet
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How did you get Wealth account? It is easy to get Wealth CC is easy but not the bank account 

Benevolent Benevolent
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keep Rs. 10L in savings account and ask your RM to initiate upgrade
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Freebie Finder Freebie Finder
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Is 250 rp on bill pay using IDFC app/netbanking exclusive to the Wealth account?

Benevolent Benevolent
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Select/Wealth/First Private Savings Holders.

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Deal Cadet Deal Cadet
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Any easy way to complete first 50k with fastag recharge or something?

Deal Subedar Deal Subedar
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mhm paying credit card bills for you and your friends maybe? 
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Deal Cadet Deal Cadet
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@sahil1033 Did you got the points? 

Benevolent Benevolent
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UPDATE (11-Jun-2024) :

Got 8,000 RP credited for purchasing Amazon Pay Gift Card worth Rs. 1,001 from Amazon in addition to 4X points for this since it was online transaction.

I'm yet to get 250 RP for 1st bill payment of the month. I paid Re. 1 credit card bill from savings account.

Deal Newbie Deal Newbie
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Hello,


can you please let us know what was the timeline to credit the reward points?

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Benevolent Benevolent
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UPDATE (13-Jun-2024) :

Got 250 RP for credit card bill payment worth Rs. 10 😇

Deal Newbie Deal Newbie
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You paid of which bank ?

And did you got for payment of 1rs ?

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Deal Cadet Deal Cadet
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@sahil1033 Was it a fresh account or upgraded account? I bought an amazon gift voucher through amazon.in as well but didn't received the bonus points of 8k yet. 

Benevolent Benevolent
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upgraded account

points started reflecting after 6-7 days from transaction date ... wait till 14 days and still if you don't receive it, reach out to customer care

what was the transaction amount for gift voucher from Amazon?

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Benevolent Benevolent
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@sahil1033 Did U Paid Card Bill On Sbi Unipay Portal With Idfc Debit Card ?? Of Yes , Did U Receive Points ??

Benevolent Benevolent
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no, I probably won't ever pay a bill via SBI Unipay because of the no refund trauma I faced for months.
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