A majority of people in India live in rented homes and the monthly rent payment is a vital part of their expenditure. It is a relatively high expense and most landlords preferred cash payments until some years back. Now, many individuals have started using their credit cards to make rent payments but most card issuers exclude these payments from earning reward points and other benefits.
IDFC First Bank has launched a new offer through which you can receive double reward points on rent payments made by you with your IDFC First credit card. This is a targeted offer and is applicable only to customers who receive an official offer communication by the bank.
In the following article, we will talk about the offer in details along with its terms and conditions.
Double Reward Points on Rental Spends – Offer Details
The rental payment offer is valid from 1st June 2023 to 31st July 2023. You will be eligible to earn double reward points on spending a minimum of Rs. 20,000 on rent in June and July.
The spends must be made in both June and July, and the transaction amount must be of a minimum Rs. 20,000 to be eligible for the offer.
The following eligibility criteria apply to the offer –
- The credit cards eligible for the offer are – FIRST Select, FIRST Classic, FIRST Wealth, FIRST WoW, FIRST Private, FIRST Family, FIRST Power, and FIRST Power+.
- Rental payments made via Paytm, Cred, and No Broker are not eligible for the offer.
- Payments made from 1stJune 2023 12:00 AM to 31st July 2023 11:59 PM will be considered.
- Only domestic rent payments are eligible for this offer.
Offer Fulfilment – Terms & Conditions
Here is all the information related to the offer fulfilment and other terms and conditions –
- Bonus reward points are credited after 30 days of offer closure.
- Reward points are credited as –
FIRST WoW – 3x basic and 3x additional post offer closure
FIRST Millennia, FIRST Select, FIRST Classic, FIRST Wealth – 4x basic and 4x additional post offer closure
FIRST Power – 2x basic and 2x additional post offer closure
FIRST Power+ – 3x basic and 3x additional post offer closure
- The reward points are visible to the cardholder only after the transaction is settled.
- All rent payment transactions made during the offer period are considered. Some transactions may settle after a delayed period because of the merchant’s statement cycle, but all authorized transactions during the offer period will be considered.
- In case of transaction refunds, earned reward points will get reversed.
- The offer can’t be combined with existing offers or EMI transactions.
- Interchange and surcharge are applicable on final settlement amount.
Most credit card issuers in our do not offer any reward points or other benefits on rent payments made with credit cards. With this offer by IDFC First Bank, you can earn double reward points on your rent payments made with IDFC First credit cards, in the month of June and July.
You must have received an offer communication from the bank to be eligible for the offer and must spend minimum Rs. 20,000 in both June and July to be considered for the double reward points. If you live in a rented accommodation, then this offer will allow you to earn a lot of extra rewards.