By: OurMoneyGuide || Last updated on: April 28, 2024
IDFC FIRST Select Credit Card is a lifetime free card, with a minimum income requirement of ₹12 lakhs per year. Lifetime-free credit cards are a popular choice among customers who want simplicity and do not want to do a detailed cost benefit analysis of their credit card.
The card offers a range of benefits like complimentary domestic airport & railway lounge access, movie benefits, roadside assistance, complimentary insurance covers.
There is no annual fee on the card. You also get welcome offers-
– You get a welcome voucher worth ₹500, on spending ₹5,000 or more within 90 days of card generation.
– You enjoy 5% cashback (up to maximum ₹1000), on the transaction value of your first EMI – completed within 30 days of card generation.
You earn 3 reward points on every ₹150 you spend on your card, meaning 2 reward points (worth ₹0.50) on every ₹100 you spend – 0.50% benefit.
Note :
– You earn no reward points on fuel, EMI transactions & cash withdrawals.
– 0.16% benefit on insurance spends & utility bill payments (X) : You earn 0.66 points worth 16 paise , on every ₹100 you spend in these categories. This benefit is valid on utility bill payments upto ₹20000 per month. If utility bill payments are over ₹20000 per month, it is designated as commercial usage and a charge of 1% of transaction value will be levied as a utility fee on commercial usage.
1 reward point = ₹0.25 or 25 paise, and can redeemed on IDFC First Bank’s Rewards Platform, for a range of exciting offers, including merchandise, gift vouchers, travel bookings, and more. You can access the IDFC First Bank Rewards platform through the IDFC PoshVine Reward Portal, mobile app or Internet banking.
Reward points are valid forever. Each reward redemption transaction incurs a ₹99 convenience charge .
You earn 10 reward points on every ₹150 you spend on your card, meaning 6.66 reward points (worth 1.66) on every ₹100 you spend – 1.66% benefit.
Note – rental & property management related spends, insurance spends, education spends, wallet loads, government spends, and utility bill payment spends will not be a part of 10X reward program and 10X threshold calculations. These spends would earn 3X rewards, meaning 0.50% benefit, as explained in the previous section.
You need to spend ₹20,000 on your card the previous month, to avail this benefit.
For list of domestic airport lounges, please click here → eligible lounges. To check number of available visits, please click here
You get 16 free railway lounge visits per year, maximum 4 visits per quarter.
This benefit is only applicable on the Mastercard version of the card, since this benefit is brought to you in partnership with Mastercard.
You get 4 complimentary golf rounds and 12 complimentary golf lessons per calendar year – maximum 1 golf round per month, and maximum 1 golf lesson per month. For more details, please click here.
You get upto ₹125 off on the 2nd ticket, on Paytm mobile app.
This offer is valid 2 times per month.
You get 24X7 assistance for flat tires & tire change, battery jump-start or alternate battery, fuel delivery, lost key replacement, minor repairs, vehicle towing (if required) – provided through Global Assure.
You can avail this benefit up to 4 times a year. To know more details, please click here
You get a 1% fuel surcharge waiver at all fuel stations across India. This benefit is valid only on fuel transactions between ₹200 & ₹5000. And only on fuel purchases upto ₹30,000 per month (since the waiver amount is capped at ₹300 per monthly card statement cycle).
✓ You get complimentary cancellation for any reason (CFAR) insurance, for hotel and flight booking cancellations – for 2 claims up to ₹10000.
✓ You get a ₹50,000 insurance cover for lost card liability. This protects counterfeit/ skimming/ phishing and online fraud protection, in case of any fraudulent transactions on your credit card.
✓ You receive a ₹5 lakhs personal accident cover – in the unfortunate event of an accidental death or permanent disability due to a sudden, unforeseen and involuntary event.
✓ You get a complimentary air accident cover of ₹1 crore.
✓ You get a complimentary travel insurance cover of USD 300 (loss of checked-in baggage – USD 100; delay of checked-in baggage – USD 67; loss of passport and other documents – USD 67; delay in flight – USD 67)
IDFC First offers exclusive deals on shopping, travel, dining, health & wellness, entertainment and more.
Please click here to see the latest offers – IDFC First Deals & Offers.
You get 24X7 assistance, please click here to see all available options.
| Annual fee | Annual fee offers | |
|---|---|---|
| 1st year joining fee | Lifetime free | Welcome offers – You get a welcome voucher worth ₹500, on spending ₹5,000 or more within 90 days of card generation. – You enjoy 5% cashback (up to maximum ₹1000), on the transaction value of your first EMI, completed within 30 days of card generation. |
| Renewal fee from 2nd year onwards | Lifetime free | – |
Late payment fee is charged if you do not pay even the minimum amount due on your card bill, before the bill due date. You will be charged 15% of the total amount due , with a minimum charge of ₹100 and a maximum charge of ₹1300.
Finance charges
0.75% – 3.65% per month (9% – 43.8% per annum) on outstanding balances, depending on the profile of the cardholder.
– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here – IDFC First Credit Card Fees & Charges
| Minimum income requirements | ₹12 lakhs per year |
| Minimum age | 18 years |
| Occupation | Salaried, self-employed |
| Credit score | Preferably above 750 |
| Online application process | The easiest way is to click here – APPLY NOW , you shall be taken to the card application page on the IDFC First Bank website. You can also visit official website of the bank and fill out the application form. Steps – – Fill out the online application form with basic personal details – Fill out additional details along with basic documents details – Verification and opening of card |
| Offline (face to face) application process | You can visit any of the nearest branches of the bank and talk to an executive regarding the process. |
| Tracking your application status | Click here to track the status of your IDFC Credit Card application. |
| Required documents | – PAN card – Copy of Aadhaar card (with first 8 digits masked) or any valid government address proof – Income documents : salary slip, income tax return etc. In addition to these, you may be asked to provide additional documents on a case to case basis. |
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