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Federal BankThe FIRST SWYP Credit Card by IDFC Bank is an innovative offering in the Indian credit card market. It offers an array of benefits, including reward points and discounts on popular brands like Tata CLiQ, Zomato, Sugar, and Dominos, making it highly appealing to youngsters. The card can be availed at a low joining fee of ₹499 and can even be linked to your UPI apps.
What makes this card unique is that at the end of each cycle, you must pay the total amount due or convert it into easy EMI spends. Unlike conventional credit cards, you won’t have to pay hefty interest with this credit card. If unable to clear your dues, you can simply convert your spends into flexible EMIs, starting from a tenure of 3 months and a minimum transaction of ₹2,500.
IDFC Bank FIRST SWYP Credit Card
Fees
Joining Fee
Renewal Fee
Best Suited For
Movies | Travel | Shopping |
Reward Type
Reward Points |
Welcome Benefits
Movie & Dining
25% Discounts on Movie Tickets
Rewards Rate
200, 500, and 1,000 RPs on Spends of Rs. 5,000, 10,000, and 15,000 Respectively
Reward Redemption
Points Can be Redeemed at IDFC First Rewards. Pay With Points Facility Also Available
Travel
4 Free Railway Lounge Access Each Quarter
Golf
N/A
Domestic Lounge Access
N/A
International Lounge Access
N/A
Insurance Benefits
Complimentary Insurance Covers are Provided
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
Rs. 99
Rewards Redemption Fee
Rs. 99
Foreign Currency Markup
3.5%
Interest Rates
N/A
Fuel Surcharge
1% Up to Rs. 200 (Monthly)
Cash Advance Charges
Rs. 199
Add-on Card Fee
N/A
- Reasonable joining fee of Rs. 499.
- Easily convert your spends into EMIs.
- Complimentary railway lounge access is provided.
- Plenty of welcome benefits are offered with this card.
Pros
- There are numerous welcome benefits associated with this card, such as a free Lenskart Gold membership, 1,000 Reward Points, and Free Times Prime membership.
- This card comes at an affordable joining/annual charge of Rs. 499.
Cons
- While this card grants complimentary access to railway lounges, airport lounge access requires fulfilling referral criteria.
- You must either pay your full amount due by the due date or convert your pending balance into EMI. Paying the minimum amount due is not an option.
FIRST SWYP Credit Card Features
Like the Millennia Credit Card, this card offers attractive benefits to young people in multiple categories, such as travel, movies, and shopping. Check out all the benefits below.
Welcome Benefits
- You will get a complimentary Lenskart Gold membership upon successful realization of the joining fee.
- Get 1,000 Reward Points on the first EMI transaction within 30 days of card issuance.
- Get 2000 Reward Points worth ₹500 on spending ₹5,000 or more within the first 30 days of card issuance. This offer is applicable only for FIRST SWYP Credit Cards issued after 4 April 2024.
- Get discount coupons worth ₹2,100 on EaseMyTrip on payment of joining fee.
- 1-year Times Prime membership on spends of ₹30,000 within 90 days of card issuance. This offer is not applicable to cards issued after 4 April 2024.
Free Railway Lounge Access
With the IDFC First SWYP Credit Card, you get 4 free railway lounge access each quarter. This adds up to 16 complimentary visits each year.
What benefits will be offered with free railway lounge access?
- Unlimited tea and coffee.
- 2 hours of lounge stay.
- Comfortable sitting area with AC.
- Free WIFI.
- One free buffet meal.
Movie Offers With Paytm
Get 25% off up to ₹100 while booking movie tickets on Paytm. Use the promo code IDFCCCFM to avail of this offer, which is valid once per month.
UPI Enabled
You can make UPI transactions with the FIRST SWYP Credit Card. You shall earn 100 Reward Points on spends of ₹5,000 on UPI. To use this facility, you would need to pay the charge of ₹199 + GST per annum.
Roadside Assistance
Through Global Assure, you shall get roadside assistance (RSA) worth ₹1,399 four times a year.
FIRST SWYP Credit Card Rewards
You shall earn Reward Points on monthly milestone spends.
- Get 200 Reward Points on monthly spends of ₹5,000.
- Get 500 Reward Points on monthly spends of ₹10,000.
- Get 1,000 Reward Points on monthly spends of ₹15,000.
- You can also get 400 Reward Points on a minimum rental spend of ₹20,000 in a month.
- These milestone Reward Points are not incremental, meaning spends of ₹17,000 will earn only 1,000 Reward Points.
- Cash withdrawals, utility spends, and fuel transactions will not count towards monthly milestone spends.
1 Reward Point = ₹0.25
Benefits for Referring IDFC Bank First SWYP Credit Card
You can earn great benefits and rewards by referring your friends and family to the IDFC FIRST SWYP Credit Card. Currently, you can earn up to ₹11,299 worth of benefits simply by achieving successful referrals.
| Number of Referrals | Benefit | Value of Benefit |
| 1 | Waiver of Annual Charges | ₹499 |
| 3 | Bonus of 4,000 Reward Points | ₹1,000 |
| 5 | Waiver of EMI Fees Up to ₹1,500 | ₹1,500 |
| 7 | Movie Vouchers Worth ₹2,000 | ₹2,000 |
| 9 | Cashback of ₹2,500 | ₹2,500 |
| 10 | 4 Free Domestic Airport Lounge Access | ₹3,800 |
Additional Discounts on Featured Partners
With the SWYP Credit Card, you can enjoy additional discounts and offers on a monthly and quarterly basis. The list of current featured partners is provided below, and these partners may change from time to time.
Offer on Dominos
- 20% discount up to ₹80 on orders above ₹299.
- You can avail of this offer twice a month.
Offer on EaseMyTrip
- Get a 10% discount of up to ₹500 on bookings of hotels and flights above ₹5,000.
- This offer can be availed once each quarter.
Sugar
- 20% off up to ₹270 on a min spend of ₹1,250.
- This offer is available once per month on the Sugar Cosmetics website/app and once per month on the Sugar brand offline outlets.
Offer on Tata CLiQ
- Instant 10% discount up to ₹100 on purchases above ₹999.
- Valid once each month.
Offer on Zomato
- Get a 10% discount up to ₹100 on orders above ₹299.
- The offer is available twice a month.
Review of IDFC Bank FIRST SWYP Credit Card
The IDFC Bank FIRST SWYP Credit Card is an innovative and interesting offering. In our opinion, after the AU Bank LIT Credit Card, this is the card that truly offers unique privileges. With this credit card, you won’t have to worry about minimum amount dues or any interest charges. You can use up your credit and pay the total amount due or convert your spends into EMIs. This feature is especially beneficial for young people who can easily shop and enjoy their lifestyle to the fullest by simply converting their spends into easy EMIs. These EMIs carry a flat charge starting from ₹49.
This credit card is a great choice for students and frequent railway travelers. It offers complimentary railway lounge access up to 16 times a year. Not only this, but by referring this credit card to others, you can earn extra benefits up to ₹11,000. If you’re interested in domestic lounge access, you can get it by referring enough people at no extra cost. Whether you want introductory benefits, rewards on monthly spends, or discounts on popular brands, this credit card has them all. Apply for it now with CardInsider and enjoy its numerous benefits.
Share your thoughts on this latest and exciting credit card offering by IDFC Bank in the comments below.
