IDFC First Bank recently launched a super-premium card named IDFC First Private Credit Card. It is an invite-only card, i.e., only people invited by the IDFC First bank can get this card, and is targeted at high net-worth individuals. The card charges a high annual membership fee of Rs. 50,000 and offers lots of exciting benefits across different categories. Be it travel, entertainment, lifestyle, rewards, or charity, you can get all your requirements fulfilled with this credit card. You don’t only earn the usual reward points using this credit card, but after achieving a particular monthly spend, you earn Karma Points donated for charity purposes in your name.
The IDFC First private cardholders can earn up to 10x Reward Points on their spends using this card, and these points are redeemable against a variety of options. Moreover, the card offers complimentary airport lounge access not only for the primary cardholders but for the add-on card members as well. Other than this, you get discounts on movies, free golf lessons, complimentary insurance covers, and many more benefits with this card.
To know more about the IDFC First Private Credit Card and all its features, continue reading:
IDFC First Private Credit Card
Best Suited For
Movies | Travel | Shopping |
Movie & Dining
Get up to Rs. 750 discount on movie/non-movie bookings via BookMyShow
3 Reward Points on every Rs. 100 spent offline and 6 RPs on every Rs. 100 spent online
1 Reward Point = Re. 0.25 for redemption against various gift vouchers
Get free airport lounge access and spa sessions every year.
2 complimentary golf rounds/lessons every month
Domestic Lounge Access
4 complimentary domestic lounge access every quarter (for primary and add-on cardholders)
International Lounge Access
4 complimentary international lounge access every quarter (for primary and add-on cardholders)
Get an air accident cover worth Rs. 1 crore and cover for delay or loss of check-in baggage
Zero Liability Protection
The cardholders get a zero liability protection against a lost/stolen card if reported the loss to the bank in a timely manner.
Spend Based Waiver
Rewards Redemption Fee
Rs. 99 plus taxes
Rewards Redemption Fee
Rs. 99 plus taxes
Foreign Currency Markup
0.99% per month
1% fuel surcharge waiver on all fuel purchases
Cash Advance Charges
Add-on Card Fee
Nil for 1st card, 2nd card onwards: Rs. 4,000 per add-on card
- Invite-only credit card.
- You earn Karma Points that you can use for charity.
- Get up to 10x reward Points on your spends.
- Get up to Rs. 750 discount on movies twice every month.
- Get complimentary golf rounds every year on the basis of your monthly spends.
- Free domestic as well as international lounge access.
- Air accident cover worth Rs. 1 Crore.
- No late payment fee and no over-limit charges.
- With the IDFC First Private Credit Card, individuals can contribute to society through the donation of Karma Points to charity.
- You get an attractive welcome benefit of 200,000 Reward Points worth Rs. 50,000.
- Even though the card provides a lot of facilities to its users, the reward rate is not so good. Each reward point has a value of 0.25 rupees.
- You can only access the golf lessons and rounds after spending Rs. 40,000.
IDFC First Private Credit Card Features and Benefits
The Private Credit Card launched by IDFC First bank is the most premium offering by the bank so far. It is issued only to selected customers that are invited by the bank itself. The card comes with lots of exciting privileges and its most significant features are listed below:
After achieving a monthly spend of Rs. 30,000, you start earning Karma Points on your spends at the following rate:
- 1 Karma Point on every spend of Rs. 100
- Karma Points are not accrued on certain transactions, including Fuel, Insurance transactions, EMI, Cash withdrawals, rent payments, etc.
The redemption of Karma Points can be made as follows:
- 1 Karma Point = Re. 0.25.
- You can easily change your choice of charity by calling on the VIP Access number. The default choice is set to CRY foundation.
- Once a minimum of 20,000 Karma Points get accrued on your account, the points get donated to the charity chosen by you.
- The cardholders get four complimentary domestic lounge access every quarter, i.e. 16 per year (applicable to primary as well as supplementary cardholders).
- The primary, as well as add-on cardholders, get 4 complimentary international lounge access every quarter (16 every year).
- The card also provides you with 4 free spa sessions every quarter.
- Get the highest tier privileges of the Visa Infinite platform including Airport Limousine Transfer, Meet and Greet immigration, and Affluent Dining program.
- You get up to Rs. 750 discount on movie/non-movie ticket bookings and food & beverages through BookMyShow app/website.
- This benefit can be availed twice every month.
- You get two complimentary golf rounds or lessons every month.
- The cardholders are eligible for free golf lessons only after spending Rs. 40,000 in a month.
Annual/Renewal Fee Benefit
- You would get 100,000 Reward Points worth Rs 50,000 on the successful payment of your renewal/annual fee.
- The Taj Epicure membership is also renewed.
The insurance benefits provided by this card are listed below in the table:
|Air Accident||Rs. 1 Crore|
|Loss of Checked-InBaggage||USD 500|
|Delay In Flight||USD 300|
|Delay of Checked-InBaggage||USD 100|
|Loss of Passport and otherdocuments||USD 300|
Fuel Surcharge Waiver
You get a 1% fuel surcharge waiver on all fuel transactions made using this card. The maximum waiver per month is capped at Rs. 400.
IDFC First Private Credit Card Reward Points
The reward rates offered by the IDFC First Private Credit Card on different categories are as follows:
- 6 Reward Points on every spend of Rs. 100 online (for spends below Rs. 30,000).
- 3 RPs on every Rs. 100 spent offline (for spends below Rs. 30,000).
- 10 Reward Points on every spend of Rs. 100 (after achieving monthly spends of Rs. 30,000 and on all spends on birthdays).
- 25% additional Reward Points on donating reward points to charity.
The reward points you earn using this card can be redeemed against various exciting options and vouchers at a redemption value of 1 Reward Point = Re. 0.25.
IDFC First Private Credit Card Fees and Charges
Some very important fees and charges associated with the IDFC First Bank private Credit Card are as mentioned below:
- The joining and annual membership fee of this credit card is Rs. 50,0000 plus applicable taxes.
- The interest rate on the First private Credit Card is 0.99% per month, which is much lower than the interest charged by most of the credit cards in India.
- The cash advance fee on this credit card is Rs. 250 only, i.e., you can easily withdraw cash just by paying a fee of Rs. 250.
- There is no forex markup fee chargeable on this credit card.
- There are no late payment charges.
IDFC First Bank Private Credit Card Eligibility Criteria
As the IDFC First Private Credit Card is an invite-only credit card, there is no specific eligibility criteria mentioned by the card issuer. However, some basic requirements that you might need to fulfill are as follows:
- Your age should be above 21 years.
- You should have a high monthly income.
- You must have an excellent credit score and a good relationship with IDFC First Bank.
How To Apply For The IDFC First Private Credit Card?
Not every individual is eligible to apply for the IDFC First Private Credit Card. You can only get it if the bank invites you to apply for the card. If you find fit for this super-premium credit card, you can contact IDFC First Credit Card customer care to learn more about the eligibility to get invited.
IDFC First Private Credit Card Review
With the launch of the super-premium Private Credit Card, IDFC First Bank gives direct competition to the leading card issuers like HDFC Bank, which offers Infinia Credit Card, and Axis Bank, which offers Reserve and other premium cards. This card seems to be unique as it doesn’t only focus on providing you with extra rewarding benefits, but you can also do good for others without spending any extra amount. You can earn Karma Points on your monthly spending, and the amount equivalent to these points is directly sent to the charity chosen by you.
Talking about its privileges, you can have a luxurious experience when you travel or go out to the movies, as the card offers complimentary lounge access and great discounts on movie tickets. All its benefits make this card an excellent option for those who believe in having a premium lifestyle. Though you can not apply for this card, you should try building an excellent credit history and a good relationship with the IDFC First Bank so that your chances of getting invited for this card increase.
If you have any additional doubts regarding this credit card, you can freely ask us in the comment section below!
You can not apply for the IDFC First Private Credit Card as it is issued on an invite-only basis. You can get this card only if you get an invitation from the IDFC First Bank.
The Karma Points you earn using the IDFC First Private Credit Card are automatically donated to the charity chosen by you when 20,000 points are accrued in your account.
There is no forex markup fee associated with this credit card, making it a suitable option for international transactions.
The monetary value of 1 Reward Points earned using the IDFC First Private Credit Card is Re. 0.25.