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Federal BankCredit cards are primarily associated with lavish personal use, but that’s not true. In recent times, many popular card issuers and banks have launched business credit cards. These credit cards are specially made for small and medium corporations. They not only offer a line of credit to businesses but also offer them Reward Points for their spends. IDFC First Bank also offers a similar rewarding business credit card called the IDFC First Bank Business Credit Card. With this business credit card, customers can earn up to 10X Reward Points on business spends and also 2X Reward Points on restaurant, rental, and utility spends.
The IDFC First Business Credit Card provides reward points, discounts, and offers on business spends like productivity tools, utilities, and ads, along with complimentary airport lounge access, allowing business people to relax quickly while traveling. Extra benefits like this make this credit card more rewarding as well as appealing. Keep on reading to learn more about this business credit card offering by IDFC FIRST Bank.
IDFC FIRST Bank Business Credit Card
Fees
Joining Fee
Renewal Fee
Best Suited For
Business Expenses |
Reward Type
Reward Points |
Welcome Benefits
Movie & Dining
Accelerated Reward Points on Dining
Rewards Rate
10X RPs on Business and 2X RPs on Restaurant Spends
Reward Redemption
1 Reward Point = ₹0.25
Travel
N/A
Golf
N/A
Domestic Lounge Access
2 Each Quarter
International Lounge Access
N/A
Insurance Benefits
Personal and Travel Insurance up to ₹10 Lakh
Zero Liability Protection
Cardholder Will Not Be Liable for Any Fraudulent Transaction if the Card is Reported Lost or Stolen to the Bank in a Timely Manner
Spend Based Waiver
N/A
Rewards Redemption Fee
N/A
Rewards Redemption Fee
N/A
Foreign Currency Markup
1.99%
Interest Rates
Starting at 1.5% Per Month
Fuel Surcharge
Waiver up to ₹500 Each Statement Cycle
Cash Advance Charges
N/A
Add-on Card Fee
N/A
- 10X RPs on business spends.
- 2X RPs on restaurant spends.
- Free domestic airport lounge access.
- Fuel surcharge waiver up to ₹500.
- Discounts and offers on ad spends.
Pros
- This card is helpful for small and medium businesses.
- Reward Points are valid for a lifetime.
Cons
- Although the joining fee is quite reasonable (₹499), the annual charges from the second year onwards are high at ₹999.
Earn Accelerated Reward Points
The IDFC First Business Credit Cards offer lucrative rewards for business and productivity spends.
- 10X Reward Points on Forex/International transactions.
- 4X Rewards on business utility and digital advertising.
- 2X Reward Points on restaurants/dining, rentals and utility.
Reward Point Redemption
- 1X = 1 Reward point per ₹100 spent.
- The value of 1 Reward point = ₹0.25.
- There is no expiry for these reward points.
Milestone Benefits
Earn extra reward points on achieving the stipulated milestone spends. Spends on rental and property management shall not be considered for these annual benefits.
| Annual Spends | Additional Reward Points |
| ₹10 Lakh | 5,000 RPs |
| Additional ₹10 Lakh | Additional 10,000 RPs |
Low Forex Charges
This card offers a low forex charge of 1.99% even though the industry rate is above 3%. This, along with accelerated reward points on international spends would highly reward your transactions made abroad or with international merchants.
Free Airport Lounge Access
Enjoy two complimentary airport lounge access (both domestic and international lounges are available) with this credit card across popular airports within India. While traveling, customers can relax, enjoy meals, and take care of business with this free lounge facility. You would need to spend ₹20,000 in a month to be eligible for complimentary airport lounge access in the following month.
Insurance Benefits
This card also includes insurance benefits.
- Free Road Side Assistance (RSA) worth ₹1499
- Personal and travel insurance cover of up to 10 lakh.
Bottom Line
IDFC First Bank has established its name by offering some of the best premium and entry-level offerings like IDFC Wealth and WoW Credit Card. Now, it has also launched an exciting business credit card, which would allow corporations and businesses to save on their expenditures. Customers can easily earn up to 4X Reward Points on their business spends while enjoying premium benefits like free airport lounge access offered with this. All of these benefits can be availed at a low joining fee of ₹499.
Manage your business expenses efficiently and quickly with the IDFC First Bank Business Credit Card. Apply Now with Card Insider.
