IDFC First Bank launched a new family of credit cards in January 2021, introducing dynamic interest rates on revolving balances as a key differentiator. A few months on, there are enough cardholders to evaluate how these cards perform in practice.
The bank currently offers four distinct IDFC First credit card variants. Below is a detailed comparison of their fees, eligibility, rewards, lounge access and other benefits to help you decide which card might suit your needs.
Table of Contents
- Fees & Charges
- Eligibility
- Rewards
- Lounge Access
- Other Benefits
- Revolving Interest Rate
- How to Apply?
- Upgrades
- Bottom line
Fees & Charges
| Joining/Annual Fee | Lifetime Free |
| Welcome Voucher | 500 INR (spend 15K in first 90 days) |
All IDFC First credit cards are offered with no joining or annual fee for life, including the higher-end variants. The welcome voucher of INR 500 (conditional on spending INR 15,000 within 90 days) is modest; premium cards could have benefited from higher-value welcome benefits tied to a larger spend threshold. Also note that “lifetime free” cards can still carry conditions or limitations in practice, so review terms carefully when applying.
Eligibility
| Card Variant | Eligibility Criteria |
|---|---|
| IDFC First Millenia | <12 Lakhs p.a (Income) |
| IDFC First Classic | >12L & <15L p.a |
| IDFC First Select | >15L & <35L p.a |
| IDFC First Wealth | >35 Lakhs p.a (or high HNW with bank, like >10L balance) |
Income is a primary factor in determining which variant you receive. The bank also reviews credit reports, other credit card statements and savings account balances (NRV) to assign an appropriate card. Upgrades are likely to be considered after about six months, based on spending, repayment behavior and credit profile.
Rewards
| Spend Type | Rewards | Reward Rate |
|---|---|---|
| Offline Spends | 3 RP / 100 INR | 0.75% |
| Online Spends | 6 RP / 100 INR | 1.5% |
| Spends >20K (per stmt) | 10 RP / 100 INR | 2.5% |
| Birthday Spends | 10 RP / 100 INR | 2.5% |
- 1 Reward Point = 0.25 INR
- No reward redemption charges
IDFC First uses the same rewards structure across all four card variants, so entry-level cards earn at the same base rates as premium ones. This removes the need to chase higher-tier cards solely for better earning rates. Reward redemption is handled through the bank’s rewards portal and includes gift vouchers, such as Amazon vouchers.
Important notes on rewards:
- Reward points do not accrue on fuel, EMI or insurance transactions.
- Reward points never expire.
- The higher 2.5% rate for statement spends above INR 20,000 applies only to the amount exceeding INR 20,000; spending up to INR 20,000 earns the normal rate based on spend type.
Lounge Access
| Access Type / Card Type | Millenia | Classic | Select | Wealth |
|---|---|---|---|---|
| Airport Lounge Access (Domestic) | – | – | 4/qtr | 4/qtr (shared) |
| Airport Lounge Access (Intl) | – | – | – | 4/qtr (shared) |
| Railway Lounge Access | 4/qtr | 4/qtr | 4/qtr | 4/qtr |
| Domestic Spa | – | – | – | 4/qtr (shared) |
Lounge and spa access vary by variant. The Select card offers four domestic airport lounge visits per quarter. The Wealth card provides shared access to domestic and international airport lounges and domestic spa visits, typically limited to four per quarter via a third-party partner. Railway lounge access is provided across all variants at a rate of four visits per quarter. Some aspects of how Visa Infinite benefits and third-party partner access interact are not clearly explained by the bank and may require direct clarification from IDFC First or the partner platforms.
Other Benefits
- Golf Benefit: Complimentary golf rounds on the Wealth variant.
- Buy 1 Get 1 Movie Benefit: Up to INR 250 on Select and INR 500 on Wealth variant.
- Forex Markup Fee: 1.99% on Select and 1.5% on Wealth variant.
- Free Road Side Assistance (RSA) worth INR 1,399 on all cards except Millenia.
Revolving Interest Rate
A headline feature of the IDFC First cards is the promise of lower revolving interest rates on unpaid balances. The bank has indicated rates could be as low as 9% for select profiles, but most customers report higher rates—many in the 20%+ range. Interest rates can be changed after issuance; some cardholders have experienced reductions within a month. Actual rates depend on individual creditworthiness and the bank’s internal assessment.
How to Apply?
- Online: Apply through the bank’s online application channels.
- Offline: Selected branches accept in-office applications. A branch manager recommendation or an account relationship may help secure approval even if you are not pre-approved.
Many applicants report approval via branch recommendation without an in-branch visit if they already hold an account with the bank. Processing times and on-boarding experience vary; cardholders have shared individual write-ups that describe real processing timelines and card delivery.
Upgrades
IDFC First indicates upgrade eligibility will be visible after six months and will depend on spending and repayment patterns. High NRV on savings accounts or consistent usage could also support an upgrade. Given recent travel restrictions, it may make sense to let a new card age for several months before seeking an upgrade, when travel and lounge usage return to normal levels.
Bottom line
- CardExpert Rating: 4.5/5
IDFC First’s lifetime-free approach makes these cards attractive to hold long-term. The uniform rewards structure ensures even entry-level cards deliver worthwhile value, and premium variants add lounge, spa and lifestyle benefits without an annual fee. The decision comes down to your expected usage of lounges and other perks, and the interest rate you receive on revolving balances. If you already maintain a relationship with IDFC First bank, applying or requesting an upgrade may be easier.
Have you been approved for an IDFC First credit card? Share your experience and feedback in the comments below.