IDFC FIRST Millennia Credit Card
The IDFC FIRST Millennia Credit Card is a good choice for beginners who want a credit card with useful benefits. You can earn up to 10x Reward Points on shopping, and these points never expire, so you can use them anytime. The card also gives free access to Railway Lounges four times a quarter, making travel more comfortable. Plus, you can save money with up to 25% off on movies and up to 20% off on dining.
The best part is that this card has no joining or annual fees, so it’s completely free for life. It also comes with helpful perks like free roadside assistance, insurance coverage, and a fuel surcharge waiver. This makes it a great option for people who want to earn rewards without paying extra charges. If you’re looking for more options, the IDFC FIRST Classic Credit Card is another free card with great benefits.
Rewards and Benefits
Fees & Charges
What should you consider before applying for a credit card in India?
Key Considerations Before Applying for a Credit Card in India:
- Eligibility Criteria: Ensure you meet the eligibility requirements, which typically include age, income, credit score, and employment status as defined by the issuing bank or financial institution.
- Credit Score: A strong credit score can significantly improve your chances of approval and result in more favorable terms, such as lower interest rates or higher credit limits. Verify that your credit score is healthy before applying.
- Interest Rates and Fees: Compare the annual percentage rates (APR), processing fees, late payment penalties, and foreign transaction charges associated with various cards. These costs can vary widely and impact the overall value of the card.
- Rewards and Benefits: Evaluate the rewards, cashback, discounts, or other perks offered by the card to ensure they align with your spending patterns. Some cards may provide better benefits in specific categories, such as travel, shopping, or dining.
- Credit Limit: Review the credit limit offered by the card to ensure it meets your financial needs. Avoid applying for cards with excessive limits if you are concerned about managing debt, as this can lead to higher interest charges.
- Repayment Terms: Understand the repayment structure, including the minimum payment amount, payment due dates, and any associated penalties. Being clear about these terms can help you manage payments effectively and avoid interest buildup.
- Card Type and Features: Choose a card type that matches your specific needs—whether standard, premium, or specialized cards like those offering travel rewards or dining privileges. Ensure the features of the card align with your lifestyle and spending habits.
- Bank’s Reputation: Opt for a financial institution with a proven reputation for customer service and transparency. Consider researching customer reviews and assessing their support channels to ensure reliable service.
- Hidden Charges: Be aware of any hidden fees, including annual fees, balance transfer charges, foreign transaction fees, or cash withdrawal charges. These can add up over time and affect the overall cost-effectiveness of the card.
- Credit Utilization: Maintain a balance within your credit limit to avoid high credit utilization ratios, which can negatively impact your credit score. Responsible use of credit is essential for maintaining financial health.
- Long-Term Financial Plans: Consider how the credit card fits into your overall financial strategy. Avoid accumulating unnecessary debt and choose a card that supports your long-term financial goals without adding financial strain.
Can I withdraw cash from an ATM using this card?
Yes, you can withdraw cash from ATMs with this credit card. Plus, you get 48 days of interest-free cash withdrawals, which means you won’t have to pay any interest if you repay the amount within that period.
Do I have to pay any fees for this credit card?
No, the IDFC FIRST Millennia Credit Card is completely free. There are no joining fees, annual fees, or membership fees.
Do the Reward Points expire?
No, the Reward Points you earn never expire. You can save them and use them whenever you want.
How can I check and use my Reward Points?
You can check and redeem your Reward Points using the IDFC First App or Net Banking. Just go to the HAVE tab, select CARDS, and click REDEEM NOW to use your points.
Will I get Reward Points on all my purchases?
You will earn Reward Points on most of your spending. However, you won’t get points on cash withdrawals, fuel purchases, EMI payments, and insurance transactions.
Do I need to enter my PIN for transactions?
Yes, in India, you must enter your PIN at all card machines (POS terminals) to complete payments. If you're using your card abroad, you'll need to enter your PIN only if the payment machine requires it.
What benefits does this card offer for travel and dining?
This card gives you four free Railway Lounge visits per quarter to make your train travel more comfortable. You also get up to 20% discount at over 1,500 restaurants across India.
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