Query regarding IDFC First Select cc

287°
Deal Cadet
Mk07
I'm getting offered IDFC first select credit card, but I'm not sure if I should opt for it.
Please share your opinions whether it's useful or not?

Apart from BOGO movie tickets are there any good offers or discounts?

Also, is there any referal benefit or voucher for joining?

Thanks in advance smile
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Deal Captain Deal Captain
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@guest_999 What type of account sir
25 MAB or 10
And for RM to assure you, how much banking relation have you assured RM.
That would help me calculate the cost benifit.
I closed millenia last year for not being too rewarding, select/wealth are  the only ones I would be willing to take.
Critic Critic
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@DeciDeaim 25k MAB & it is well known that officially(unofficially period can be less & this is where your RM comes in) 10 lakh+ is required for 3 months for system to trigger wealth acc upgrade(wealth acc is different from wealth credit card) after which there are more chances of getting wealth card upgrade(if having no idfc card then even more chances of getting wealth credit card along with getting wealth acc upgrade). There is however no guarantee that after getting wealth savings acc upgrade one will definitely get wealth credit card too.

P.S. For First Select acc(not credit card) upgrade 3 lakh+ is required for at least 3 months.
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Deal Captain Deal Captain
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One word, Go for it !!

Sorry actually 3 words

Unless you only want wealth card

Deal Cadet Deal Cadet
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Select will also b good enough for me, i guess. Thanks for your suggestion.

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Generous Generous
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4 Airport and Railway Lounge Access, If you travel. (Minimum spend of 5000 is required in the previous month.)

Complimentary Roadside Assistance

10x Rewards if spending more than 25K in a month.

Referral benefit: 500 Rs (2000 Reward Points) to both if Rs 500 is spent within 30 days of the card issuance.

Deal Cadet Deal Cadet
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Actually I do not spend much and also thinking to go for this card only for BOGO offer and some discounts on online shopping.

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Deal Subedar Deal Subedar
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I have kept it mainly for roadside assistance, dont use it much. Sometimes get offer for Yatra bus ticket booking of specific day of the week. Apart from that not many offers.

Freebie Finder Freebie Finder
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I've recently offered Select CC as a pre-approved and I applied for it without a second thought. You'll also get the welcome benefit of spending 15k in 90 days and getting a 500 gv.

Deal Captain Deal Captain
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Your Balance in Account and transaction volume for pre-approved bro?
DM if you don't wanna go public
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Deal Cadet Deal Cadet
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It is asking for my company details and I'm not allowed to share my company details like email id, etc. Is there any way to proceed without sharing such details?

Helpful Helpful
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Make another email id on gmail and give it as company email

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Commentator Commentator
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It provides road side assistance for cars. So you can take it as it is LTF

Freebie Finder Freebie Finder
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Can someone confirm - Are 10x rewards applicable on a spends more than 20k or 25k in a month?

Deal Subedar Deal Subedar
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It's not 20k or 25k, it's 30k stuck_out_tongue_closed_eyes

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Deal Cadet Deal Cadet
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I have applied and completed vkyc as well few days back, but did not get any response from them. So I mailed them that pls provide update on my application and now they are saying the I'm still pending with vkyc.

Has anyone faced such issue?

Deal Subedar Deal Subedar
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I have applied for idfc credit card when I was apply it showed approved & showed the credit limit as well after doing vkyc  when i check the status is showing pending while applying it was showing no income proof required

Deal Cadet Deal Cadet
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Is it approved?

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Deal Cadet Deal Cadet
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Now I got a mail stating, "unable to process the application, as it does not meet our bank's policy."

After few hours got a mail that my application has been approved.

Confusing.

Savings Mentor Savings Mentor
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I once took time to calculate the reward rate (RR) of IDFC FIRST credit cards. They are less rewarding after devaluation + ₹99 + GST reward redemption fee.

Online spends reward rate: (Millennia/Classic/Select):

Millennia/Classic: 6X RPs on online, 1RP per ₹150 (1% RR)
Select: 6X RPs on online, 1RP=₹125 (1.2% RR)

Classic: 800 points up to ₹20000, 200 points between ₹20000 to ₹25000 (1000 total up to ₹25000), 10X but only above ₹25000
Select: 1200 points up to ₹25000, 10X but only above ₹25000

1 point=₹0.25

10X Reward Points example for a big amount e.g. some air tickets (if spending ₹168,700, just for example):

On Classic: you will get 9913 points + 800 points = 10713 points = ₹2678 (1.58% RR) if spending ₹168,700
On Select: you will get 11496 points + 1200 points = 12696 points = ₹3174 (1.88% RR) if spending ₹168,700

The RR is 2% if considering spends purely above threshold, i.e. it rewards high spenders more.

Deal Cadet Deal Cadet
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Any best way to avail the welcome benefits?

1.) 500 on 15000 spends within 90 days.

2.) 5% cb on first EMI conversion within 30 days.

Deal Newbie Deal Newbie
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Can someone please share if the IDFC First WOW Secured Credit Card will also allow railway lounge access?

Savings Mentor Savings Mentor
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No it doesn't
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