The IDFC FIRST Select Credit Card is a prestigious metal card offering generous rewards on purchases, allowing redemption for merchandise, travel bookings, or statement credits. It provides luxury privileges like airport lounge access, discounts on dining, entertainment, and premium brands, ensuring an elevated lifestyle experience.

IDFC FIRST Select Credit Card

IDFC FIRST Select Credit Card

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Joining fee: No Joining fee

Renewal fee: No Renewal / Annual fee

Rewards: Up to 3X reward points on all UPI spends

Welcome Benefits: Welcome Voucher Rs. 500

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Features of IDFC FIRST Select Credit Card

Exclusive Lifestyle Privileges: Enjoy a range of curated experiences and privileges tailored to your interests, from dining and travel to entertainment and shopping.

Personalized Concierge Service: Dedicated concierge assistance available 24/7 to handle all your travel, dining, and entertainment bookings, as well as any other requests you may have.

Complimentary Airport Lounge Access: Gain access to select airport lounges worldwide, offering a comfortable and relaxing environment before or after your flight.

Fuel Surcharge Waiver: Save money on fuel surcharges when you book your flight tickets using your IDFC FIRST Select Credit Card.

Accelerated Rewards Earning: Earn accelerated reward points on various spending categories, allowing you to redeem them for a wide range of rewards faster.

Global Acceptance: Use your card seamlessly at millions of merchant outlets and ATMs worldwide, thanks to its global acceptance.

Benefits of IDFC FIRST Select Credit Card

Exclusive Golf Privileges: Enjoy complimentary green fee waivers, discounted rates, and other golf-related benefits at select premium golf courses across India.

Luxury Hotel Benefits: Indulge in exclusive hotel benefits, including room upgrades, early check-in/late check-out, and other special amenities at participating luxury hotels worldwide.

Premium Dining Experiences: Savor the finest culinary experiences with exclusive discounts and offers at select upscale restaurants and dining establishments.

Travel Benefits: Enjoy a range of travel-related benefits, such as discounts on car rentals, airport transfers, and access to exclusive travel packages and deals.

Personalized Travel Assistance: Receive personalized assistance from dedicated travel experts to help you plan and book your dream vacations seamlessly.

Lifestyle Concierge Services: Leverage the expertise of lifestyle concierge services to assist you with various tasks, from booking tickets and making reservations to organizing events and more.

 

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Fees and Charges of IDFC FIRST Select Credit Card

Fees:

Annual Fee: The IDFC FIRST Select Credit Card comes with an annual fee of Rs. 500. However, this fee is typically waived off for the first year.

Joining Fee: There is no joining or one-time activation fee charged for this credit card.

Renewal Fee: The annual fee is applicable every year upon renewal of the credit card.

Add-on Card Fee: You can avail of additional or add-on cards for your family members at a nominal fee of Rs. 250 per card annually.

Charges:

Interest Charges: The interest rate or finance charges levied on the outstanding balance can range from 3.49% per month (41.88% annually) to 4.99% per month (59.88% annually), depending on your credit profile and repayment history.

Late Payment Charges: If you miss or delay your monthly credit card payment, a late payment fee of Rs. 500 or 100% of the minimum amount due, whichever is lower, will be charged.

Over-Limit Fee: In case your outstanding balance exceeds the credit limit assigned, you may be charged an over-limit fee of 2.5% of the amount exceeding the limit, subject to a maximum of Rs. 600.

Cash Advance Fee: For withdrawing cash using your IDFC FIRST Select Credit Card, a transaction fee of 2.5% (minimum Rs. 300) is applicable.

Foreign Currency Markup: For international transactions or purchases made in foreign currencies, a markup of 3.5% is levied on the total amount.

Fuel Surcharge: There are no fuel surcharges applicable on transactions at petrol pumps.

GST: Additionally, all the above fees and charges are subject to Goods and Services Tax (GST) as per the prevailing rates.

Eligibility for applying IDFC FIRST Select Credit Card

  • You must be an Indian resident aged between 21-65 years to apply for the IDFC FIRST Select credit card. This is the standard age eligibility criteria followed by most banks.
  • A minimum annual income of ₹3 lakhs is mandatory if you are a salaried employee residing in a metro city. For non-metro cities, the income requirement drops to ₹2.5 lakhs per annum.
  • Self-employed individuals need to show income proof of at least ₹4 lakhs per year from their business/profession if residing in metros. For non-metro locations, ₹3.5 lakhs annual income is required.
  • Applicants must have a good credit score, generally above 750 as per CIBIL records. A high credit score reflects a disciplined repayment track record.
  • You should have no existing credit card dues or third-party unsecured loans exceeding ₹1 lakh at the time of application.
  • IDFC FIRST Bank may ask for additional documents like bank statements, income tax returns, Form 16, etc. to validate your income and repayment capacity.
 

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Documents Required for IDFC FIRST Select Credit Card

  • A recent passport-size color photograph
  • A photocopy of your PAN card (mandatory for all applicants)
  • Proof of identity: A copy of your Aadhaar card, voter ID, passport, or driving license
  • Proof of residence: A recent utility bill (electricity, gas, or landline), bank statement, or rent agreement in your name
  • Proof of income: Your latest salary slip or Form 16 (if salaried), or latest income tax returns with computation of income (if self-employed)
  • For salaried individuals: A letterhead from your employer stating your designation, tenure, and annual income
  • For self-employed professionals: Proof of business such as shop/establishment registration, partnership deed, or trade license
  • For students: A bonafide certificate from your educational institution and a copy of your parent’s/guardian’s income proof
  • For retired individuals: A copy of your pension slip or any other document validating your source of income

How to apply for IDFC FIRST Select Credit Card?

  • Start by visiting the official website of IDFC FIRST Bank (idfcfirstbank.com) or any third-party website that facilitates credit card applications for the bank.
  • Look for the section dedicated to the IDFC FIRST Select Credit Card, and click on the “Apply Now” or similar button.
  • You’ll be prompted to fill out an online application form. Ensure you have all the necessary documents and information handy, such as:
      • Your personal details (name, date of birth, contact information, etc.)
      • Income proof (salary slips, bank statements, income tax returns, etc.)
      • Employment details (company name, designation, years of experience, etc.)
      • Residential proof (utility bills, rental agreement, etc.)
  • Carefully read through the application form and provide accurate information. Double-check all the details before submitting.
  • Depending on the application process, you may be required to upload scanned copies of the supporting documents or submit them later during the verification process.
  • Once you’ve completed the application form, review all the information thoroughly and submit it.
  • The bank will then initiate a background verification process, which may include contacting your employer, verifying your documents, and conducting other checks.
  • If your application is approved, the bank will communicate the same to you, along with the credit limit and other details.

IDFC FIRST Select Credit Card Limit

  • The credit limit on your IDFC FIRST Select Credit Card depends on multiple factors like your income, credit history, repayment capability and overall credit profile.
  • For salaried individuals, IDFC Bank typically assigns a credit limit of up to 20 times your monthly net income, subject to a maximum of Rs. 10 lakhs.
  • Self-employed professionals and businesspersons can get limits ranging from Rs. 1 lakh to Rs. 10 lakhs based on their income documents and business vintage.
  • If you have an exceptional credit score and a long, disciplined credit history, the bank may approve a higher credit limit beyond the usual income multiple.
  • Your initial limit starts lower but keeps increasing every year with timely payments and responsible card usage, up to the capping limit.
  • You can request a credit limit increase review after 6-12 months by submitting your latest income proof and credit information to the bank.
  • IDFC may periodically reassess and revise your credit limit based on changes to your income, expenses, debt obligations and overall creditworthiness.

Rewards and Cashback on IDFC FIRST Select Credit Card

Rewards:

      • Accelerated rewards on online shopping, dining, and travel bookings through popular platforms like Amazon, Swiggy, Zomato, and MakeMyTrip.
      • Extra reward points for spending on utilities like electricity, gas, and broadband.
      • Higher reward rate for international transactions made with the card.
      • Bonus reward points on achieving specified spending milestones in a year.
      • Exclusive rewards and discounts at partner brands and merchant outlets.
      • Complimentary access to airport lounges and other premium travel privileges.

Cashback:

      • Flat cashback percentage on all eligible purchases, with no capping on the maximum cashback amount.
      • Higher cashback rate for online transactions, especially on e-commerce platforms.
      • Additional cashback for recurring bill payments like utilities, subscriptions, and insurance premiums.
      • Increased cashback during promotional periods and festive seasons.
      • Targeted cashback offers at partner merchants and service providers.
      • Cashback credited directly to the credit card account, reducing the outstanding balance.

How to Redeem Earned Rewards and Cashback Points?

Rewards:

      • Log in to your IDFC FIRST Select Credit Card account online or through the mobile app.
      • Navigate to the “Rewards” section and explore the available redemption options.
      • You can redeem your rewards points for various items, including merchandise, gift vouchers, airline tickets, hotel stays, and more.
      • Select the desired item or service you wish to redeem your points for and follow the on-screen instructions.
      • Confirm your redemption, and the item or service will be processed based on the bank’s policies.
      • Keep track of your remaining rewards points balance for future redemptions.
      • Some exclusive redemption options may be available for IDFC FIRST Select Credit Card holders, so be sure to check for any special offers or promotions.

Cashback:

      • The cashback earned on your IDFC FIRST Select Credit Card will be automatically credited to your card account.
      • You can view your accumulated cashback balance by logging in to your account online or through the mobile app.
      • Once your cashback balance reaches a certain threshold set by the bank, you will be eligible to redeem it.
      • Typically, the cashback can be redeemed as a statement credit, effectively reducing your outstanding balance.
      • Some banks may also allow you to redeem your cashback as direct cash or transfer it to your linked bank account.
      • Check the IDFC FIRST Select Credit Card’s terms and conditions for the specific cashback redemption process and any applicable fees or restrictions.
      • Regularly monitor your cashback balance and redeem it when eligible to maximize the benefits of your credit card.
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