IDFC First Bank, which has now become one of the top card issuers in the country, offers some exclusive cards, including the IDFC First Select, IDFC First Wealth Credit Card, IDFC First Classic, etc. Now, as various major card issuers are updating their terms and conditions, benefits, rewards, etc, in the new financial year, the IDFC First Bank has also come up with some changes in its credit cards’ reward programs. The changes will be applicable to three of the most popular IDFC First Credit Cards, including the IDFC First Select, Classic, and Wealth Credit Card from May 17, 2022. Keep reading to understand all the new changes in the rewards terms and conditions of the IDFC First Credit Cards:
Modifications In Reward Programs & Redemption
The detailed information about the changes in the reward programs of the IDFC First Bank Credit Cards and their redemption process is given below:
IDFC First Select Credit Card
The IDFC First Select Credit Card comes with a zero joining/annual fee and provides its customers with a wide range of attractive benefits, including reward points complimentary lounge access, exciting deals on movies, and many more. The changes in its reward programs, which will come into effect from May 17, 2022, are as follows:
– 1x Reward Point will mean 1 Reward Point on every spend of Rs. 125, which previously was 1 Reward Point on every spend of Rs. 100.
– The minimum speeds required to be eligible for 10x Rewards will be Rs. 25, 000, which previously was Rs. 20,000.
Other than this, a reward redemption fee of Rs. 99 plus applicable taxes will be applicable on all redemption requests with effect from October 1, 2022.
Read detailed terms and conditions for the Select Credit Card here.
IDFC First Classic Credit Card
The IDFC First Classic Credit Card is another exclusive lifetime free card offered by the bank. This card also comes with various exciting privileges across different categories and is one of the desired cards in the market. With effect from May 17, 2022, the reward programs of the IDFC First Classic Card will be as follows:
– 1x Reward Point will mean 1 Reward Point on every purchase of Rs. 150, which previously was 1 Reward Point on every spend of Rs. 100.
– The minimum spend required to be eligible for 10x Reward Points still remains Rs. 20,000 with no modifications.
Moreover, a reward redemption fee of Rs. 99 plus applicable taxes will be applicable from October 1, 2022, just like that is the case of the Select Credit Card.
Read detailed terms and conditions for the Classic Credit Card here.
IDFC First Wealth Credit Card
The IDFC First Wealth Credit Card is a lifetime free yet exclusive card offered by the bank. With effect from May 17, 2022, the Reward Program of this credit card is revised as mentioned below:
– The minimum spend required to be eligible for 10x Reward Points will be Rs. 30,000 instead of Rs. 20,000 as it was earlier.
– 1x Reward Point will be considered as 1 Reward Point on every spend of Rs. 100 (with no changes).
Just like the Select & Classic Credit Card, a Reward redemption fee of Rs. 99 plus taxes will be applicable on the Wealth Credit Card from October 1, 2022. Also, no Reward Points will be earned on selected transactions like cash withdrawals, insurance payments, EMI transactions, etc.
Read detailed terms and conditions for the Wealth Credit Card here.
Although, the terms and conditions like the minimum spend required to earn 10x Reward Points have been modified and can be a little disappointing for some cardholders, a few things still remain unchanged. For example, the value of 1 Reward Point will continue to be Re. 0.25. Moreover, the Reward Points that you earn using these cards do not expire ever. So, it is advisable for the cardholders to go through the detailed terms and conditions of their respective credit card so that they can spend accordingly and without any confusion. If you still have any doubts regarding the above-mentioned changes, you can freely ask us in the comment section below!