IDFC First Bank Revises Terms and Conditions of Their Credit Card Reward Points

Most credit cards in the country reward the cardholders in different ways that include cashback, reward points, airmiles, fuel points, and more. The reward points earned by you on most cards usually come with an expiry date and you must use it before they become useless. One of best and most loved feature by people about IDFC First Bank credit cards is the never-expiring reward points offered for your spends.

You can collect your reward points on the credit card, and redeem them anytime you want to do so. The popular IDFC Bank cards that offer never-expiring reward points include First Millennia, First Select, First Classic, First Wealth, First Family, etc.

The bank has announced some changes to the reward points terms and conditions that will be in effect from 21st August 2023. Read the article to know about the latest updates in detail –

Changes to Reward Points Terms and Conditions on IDFC First Credit Cards

The reward program now includes insurance premium payments that will earn 1x reward points. Also, utility bill payments with the card will also earn 1x reward points. However, both these spend categories will not earn 10x reward points on incremental spends, or considered for 10x threshold spend calculations.

Get Rewarded for Spends with Your IDFC First Credit Card

∙ Earn 3x Reward Points on offline spends, rental payments, and property management spends.

∙ Earn 6x Reward Points on online spends.

∙ Earn 10x Reward Points on incremental spends made after crossing your card’s monthly spend threshold amount. Also, you earn 10x points on transactions made on your birthday.

Exclusions on the Reward Program

The following exclusions apply to the reward program and you won’t earn reward points on these spends –

∙ Fuel transactions, you will get 1% surcharge waiver but no reward points for fuel spends

∙ EMI transactions or spends converted later to EMIs

∙ ATM cash withdrawals

Easily Redeem your Non-Expiring Reward Points

Whenever you make an online spend with your IDFC First credit card, you will come across a checkbox at the OTP page. You can use it to redeem reward points to pay for your transaction. If the transaction is valued lower than the total reward points available, then you will have remaining points to use for later transactions.

If the transaction is of a higher value than the total reward points available, then first the reward points will be used, and then the remaining amount will be debited from your credit card. Remember that a fee of Rs. 99 is charged for every reward point redemption request.

Also Read: IDFC First Bank Updates Credit Card Fees & Charges

Other Powerful and Popular Features on IDFC First Credit Cards

The exciting range of IDFC First credit cards have a lot to offer to cardholders –

∙ No joining or annual fees on most cards and no minimum spend conditions

∙ Up to 10x non-expiring reward points for your spends

∙ You can redeem Reward Points anywhere online conveniently

∙ Exclusive discounts and offers at some of the top brands and merchants

∙ Convert credit card spends and balances to low interest EMIs

∙ You can pay off other bank’s card outstanding dues and even convert them to EMI

Bottom Line

The IDFC First Bank is popular among people in the country as they offer most of their credit cards at minimum charges, and equipped with top-notch benefits and features. There are beginner-friendly entry-level cards, mid-range offerings, and even premium options for people who prefer a lavish lifestyle.

The best part about IDFC First cards is that they offer non-expiring reward points, and from 21st August onwards, utility bills and insurance payments made with your card will also earn 1x reward points. Remember that these spend categories are not eligible for the incremental 10x reward points benefit. Also, fuel spends, EMI transactions, and ATM cash withdrawals also don’t earn reward points.

Let us know in the comments section on how you plan on using your reward points and what are your thoughts on the revised terms and conditions announced by IDFC First Bank.