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IDFC Bank FIRST SWYP Credit Card

The FIRST SWYP Credit Card by IDFC Bank offers a fresh and attractive choice for cardholders in India. With perks like reward points and discounts on popular brands such as Tata CLiQ, Zomato, Sugar, and Domino’s, it’s especially appealing to younger users. The card comes with a low joining fee of ₹499 and can be easily connected to UPI apps for added convenience.

What makes this card stand out is its flexible payment options. At the end of each billing cycle, you can either pay the full balance or convert it into easy EMIs. Unlike traditional credit cards, it doesn't come with high interest charges. If you’re unable to pay in full, you can choose EMIs starting from 3 months, with a minimum transaction of ₹2,500, giving you more control over your payments.

Credit Card Detail
Joining Fee
Rs. 499.00 +GST
Renewal Fee
Rs. 499.00 +GST
Best Suited For
Travel | Shopping
Reward Type
Reward Points
Welcome Benefits
1,000 reward points on your first EMI transaction, along with a 1-year Lenskart Gold membership and a 1-year Times Prime membership.
Rewards Rate
Earn 200, 500, and 1,000 reward points on spending ₹5,000, ₹10,000, and ₹15,000 respectively.
Reward Redemption
You can redeem points at IDFC First Rewards, and there's also an option to pay using your points.
Movie & Dining
25% off on movie tickets.
Travel
4 free railway lounge visits every quarter.
Golf
N/A
Domestic Lounge Access
N/A
International Lounge Access
N/A
Insurance Benefits
Free insurance coverage is provided.
Interest Rates
N/A
Spend-Based Waiver
N/A
Rewards Redemption Fee
Rs. 99
Cash Advance Charges
Rs. 199
Foreign Currency Markup
3.50% +GST
Fuel Surcharge
1% Up to Rs. 200 (Monthly)
Product Details
  • A low joining fee of ₹499.
  • Easily convert your purchases into EMIs.
  • Enjoy free access to railway lounges.
  • This card comes with many attractive welcome benefits.
Pros/Cons
Pros
- Enjoy welcome benefits like free Lenskart Gold membership, 1,000 reward points, and free Times Prime membership.
- Get this card for an affordable joining/annual fee of ₹499.
Cons
- This card offers free railway lounge access, but airport lounge access requires meeting referral criteria.
- You must pay the full amount due or convert the balance into EMI; partial payments are not allowed.

Before applying for a credit card in India, consider the following factors:

  • Eligibility Criteria: Check the age, income, credit score, and employment status requirements set by the bank or financial institution.
  • Credit Score: A higher credit score increases your chances of approval and may result in better offers. Ensure your credit score is in good standing.
  • Interest Rates and Fees: Compare annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction fees. These can vary significantly between cards.
  • Rewards and Benefits: Look for cards that offer rewards, cashback, discounts, or other perks that align with your spending habits.
  • Credit Limit: Make sure the credit limit offered is in line with your financial needs. Avoid over-borrowing, which can lead to high-interest charges.
  • Repayment Terms: Understand the repayment options, minimum payment amount, and due dates. Consider how easily you can manage timely payments to avoid interest accumulation.
  • Card Type and Features: Choose a card type (e.g., standard, premium, travel, etc.) based on your requirements. Some cards offer more benefits for specific categories like travel, shopping, or dining.
  • Bank’s Reputation: Opt for a bank with a good track record of customer service and transparency. Read reviews and consider their customer support accessibility.
  • Hidden Charges: Be aware of any hidden fees, such as annual fees, balance transfer charges, and cash withdrawal fees.
  • Credit Utilization: Ensure you can manage your spending within the credit limit to maintain a healthy credit utilization ratio, which impacts your credit score.
  • Long-Term Financial Plans: Think about how the credit card will fit into your long-term financial goals and avoid accumulating unnecessary debt.

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