IDFC First Bank Launches The Super-Premium ‘Private Credit Card’

IDFC First Bank is one of the major credit card issuers in India and is popular for offering credit cards with minimal charges & maximum benefits. In order to enhance its portfolio and provide its customers with even more rewarding experiences, IDFC First Bank has come up with a new super-premium credit card. This card is named IDFC First Private Credit Card, an invite-only card, i.e. it can only be issued to someone who receives an invitation from the bank to get this card. As it is a super-premium card, it comes with a high annual fee and is targeted at High Net Worth individuals. Moreover, this card can be considered a very unique credit card as it doesn’t only reward you, but also provides you with an opportunity to do good for others. For detailed information about all the features & benefits and fees & charges of the IDFC First Private Credit Card:

IDFC First Private Credit Card

The IDFC First Private Credit Card, as mentioned earlier, is an invite-only credit card that comes with a high joining and annual fee of Rs. 50,000 + applicable taxes. The fee seems to be high at first, but it is totally worth it as the card has so many exclusive privileges across different categories. The cardholders can earn the regular Reward Points as well as Karma Points on their spends using this card. The earned Reward Points can be redeemed for self-benefit and the Karma points are for charity donations. This is what makes this card amazingly unique as you get to donate to the welfare of others without spending any extra amount.

Other benefits of the card, include complimentary lounge access, discount on movie tickets & other lifestyle categories, free golf rounds, and a lot more. Moreover, there is no forex markup fee on this card, which makes it a great choice for those who make international transactions very often. All the features of this card are given below in detail:

• Karma points: You earn Karma Points on all your spends beyond Rs. 30,000 in a statement cycle and these Karma Points can be used for charity donations. Further information is given below:
  – 1 Karma Point on every spend of Rs. 100 (on purchases made after achieving a spend of Rs. 30,000 in a statement cycle). Karma Points are not accrued on certain transactions, including Fuel, Insurance transactions, EMI, Cash withdrawals, rent payments, etc.
  – 1 Karma Point is equivalent to Re. 0.25.
  – The cardholders can change their choice of charity by calling on the VIP Access number. The default choice is set to CRY foundation.
  – Once a minimum of 20,000 Karma Points get accrued on your credit card account, the points get donated to the charity chosen by you.
• Reward Points: The cardholders also earn Reward Points on all their spends, which can be redeemed for purchasing products, gift vouchers, etc. The reward rates offered by this card are as follows:
  – 6 Reward Points on every Rs. 100 spent online (for spends below Rs. 30,000).
  – 3 Reward Points on every Rs. 100 spent offline (for spends below Rs. 30,000).
  – 10 Reward Points on every spend of Rs. 100 (after achieving monthly spends of Rs. 30,000 and on all spends on birthdays).
  – 25% additional Reward Points on donating reward points for charity.
• Reward Redemption: The reward points earned using this card can be redeemed against a variety of gift vouchers from different brands. the conversion rate of Reward Points is 1 RP = Re. 0.25.

Must Check: Redemption of IDFC First Bank Reward Points.

• Airport Lounge Access: The cardholders 4 complimentary domestic and 4 international lounge access every quarter. Other than this, the card also offers 4 free spa sessions every quarter. The lounge and spa access are applicable for both primary as well as add-on cardholders.
• Movie Benefits: Get a discount of Rs. 750 on movie tickets, non-movie, and food spends via BookMyShow. The discount is applicable twice every month.
• Golf Benefits: Get 2 complimentary golf rounds and lessons every month on spending more than Rs. 40,000 in a month.
• Insurance Benefits: The cardholders get a personal accident cover worth Rs. 1 Crore and various other travel-related insurance covers worth up to USD 500.
• Low Fees and Charges: The IDFC First Private Card has:
  – Low-interest rate of 0.99% per month (on the outstanding balance, cash advances, etc).
  – No forex markup fee.
  – No late payment charges.
  – No over-limit charges.
  – Cash advance fee of Rs. 250 only.

Check more details on this page.

Bottom Line

The IDFC First Private Credit Card is the most premium credit card in the IDFC First Bank’s portfolio now. This newly launched credit card by IDFC First Bank gives direct competition to several other super-premium cards in the market, including the HDFC Infinia Card, ICICI Bank Emeralde Credit Card, Axis Bank Reserve Credit Card, and many more. As it is an invite-only card, you can not simply apply for it, but you must try to establish a strong relationship with the bank and build an excellent credit score so that the bank considers you a suitable candidate to get this card. Moreover, if you love to make charity donations, this is just the best card for you and you must try to get it.