IDFC FIRST Select Credit Card
Gaurav
The IDFC First Select Credit Card is a popular premium card from IDFC First Bank, offering great rewards and benefits. You can get a ₹500 welcome voucher when you spend ₹5,000 or more and earn up to 5% cashback on EMI transactions.
The card also gives you up to 10x Rewards on regular spending, which can be redeemed for various options. Travelers can enjoy free lounge access at airports and railway stations. Plus, you get 1+1 movie ticket offers on the PayTM app.
Other benefits include insurance, discounts on dining, roadside assistance, and a fuel surcharge waiver, making it a great card for many different needs.
Rewards and Benefits
Movie & Dining
Enjoy a "Buy One Get One" offer on movie tickets up to Rs. 125 when booking through the Paytm app, plus up to 20% off dining at over 1,500 restaurants.
Domestic Lounge Access
2 Complimentary Domestic Airport Lounge Access Every Quarter (8 Each Year)
Rewards Rate
3 Reward Points/₹150 Upto Spends of ₹20,000 and 10 Reward Points/₹150 on Spends Above ₹20,000
Golf
N/A
Travel
Complimentary 4 Railway Lounge Access Per Quarter
Insurance Benefits
You get air accident coverage of ₹1 crore, personal accident coverage of up to ₹5,00,000, and travel insurance coverage of up to ₹22,500.
International Lounge Access
N/A
Reward Redemption
1 Reward point = ₹0.25 for redemption. These reward points can be redeemed at the Poshvine reward portal or at exclusive merchant stores.
Fees & Charges
Interest Rates
Ranges between 0.75% to 3.5% per month based upon the credit history of the individual
Spend-Based Waiver
N/A
Rewards Redemption Fee
99 + GST
Cash Advance Charges
Rs. 199 per transaction
Foreign Currency Markup
1.99 +GST
Fuel Surcharge
1% surcharge waived on all fuel purchases at all petrol pumps across India subject to a maximum amount of Rs. 300.
What should you consider before applying for a credit card in India?
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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