IDFC First Private Credit Card, Rewards and Benefits, Joining Fees Charges, Apply Online
IDFC First Private Credit Card: IDFC First Bank’s latest offering, the IDFC First Private Credit Card, stands as a pinnacle of luxury and exclusivity in the credit card realm. Reserved for high net-worth individuals by invitation only, this super-premium card redefines the standards of elite banking.
With an annual membership fee of Rs. 50,000, this card opens doors to a world of unparalleled benefits across various categories, catering to the discerning needs of its esteemed cardholders. From travel to entertainment, lifestyle to rewards, and even charity, the IDFC First Private Credit Card ensures that every aspect of your lifestyle is elevated to new heights.
Earning rewards with this card transcends the ordinary, with cardholders having the opportunity to earn up to 10x Reward Points on their spends. What sets this card apart is its unique feature of Karma Points, where a portion of your monthly spend is donated to charity in your name, adding a philanthropic dimension to your spending.
In addition to its generous rewards program, the IDFC First Private Credit Card offers a plethora of exclusive benefits, including complimentary airport lounge access for both primary and add-on card members. Cardholders can also enjoy discounts on movies, complimentary golf lessons, and a range of complimentary insurance covers, further enhancing the value proposition of this prestigious card.
Overall, the IDFC First Private Credit Card epitomizes luxury, exclusivity, and generosity, catering to the affluent lifestyles of its privileged cardholders. Now, let’s delve into the innovative co-branded offering between HDFC Bank and Paytm, reshaping the landscape of digital banking and payments.
| Fees | Joining Fee-Rs. 50,000 + GST Renewal Fee- Rs. 50,000 + GST |
| Best Suited For |
Movies | Travel | Shopping |
| Reward Type | Reward Points |
| Welcome Benefits |
200,000 Reward Points worth Rs. 50,000 and a complimentary Taj Epicure membership
|
Rewards and Benefits
- Movie & Dining:- Enjoy up to Rs. 750 off on both movie and non-movie bookings when you book through BookMyShow.
- Rewards Rate:- Earn 3 Reward Points for every Rs. 100 spent offline, and double the rewards with 6 Reward Points for every Rs. 100 spent online.
- Reward Redemption:- Redeem your Reward Points for various gift vouchers, where 1 Reward Point is equivalent to Re. 0.25.
- Travel- Experience the luxury of free airport lounge access and rejuvenating spa sessions annually.
- Golf:- Indulge in your passion for golf with 2 complimentary golf rounds or lessons provided every month.
- Domestic Lounge Access:- Enjoy the privilege of 4 complimentary domestic lounge access sessions every quarter, available to both primary and add-on cardholders.
- International Lounge Access:- Benefit from 4 complimentary international lounge access sessions every quarter, accessible to both primary and add-on cardholders.
- Insurance Benefits:- Receive comprehensive coverage including an air accident cover worth Rs. 1 crore, along with protection against delay or loss of check-in baggage.
- Zero Liability Protection:- Rest easy knowing you’re protected with zero liability against unauthorized transactions in case of a lost or stolen card, provided you report the loss promptly to the bank.
Fees & Charges
- Spend Based Waiver:- Not Applicable
- Rewards Redemption Fee:- There is a nominal fee of Rs. 99 plus taxes for each rewards redemption transaction.
- Foreign Currency Markup:- No foreign currency markup fees are applied on international transactions.
- Interest Rates:- Benefit from a competitive interest rate of 0.99% per month.
- Fuel Surcharge:- Enjoy a 1% fuel surcharge waiver on all fuel purchases made with the card.
- Cash Advance Charges:- A fee of Rs. 250 is applicable for cash advance transactions.
- Add-on Card Fee:- For the first add-on card, there is no fee. However, for subsequent add-on cards, a fee of Rs. 4,000 per card is applicable.
Product Details
- The exclusive invite-only credit card from IDFC First Bank, known as the IDFC First Private Credit Card, offers a unique blend of luxury and philanthropy. Cardholders not only enjoy the benefits of a premium credit card but also have the opportunity to give back to society through Karma Points earned on their spends, which can be used for charitable purposes. With the potential to earn up to 10x reward points on purchases, this card ensures that every transaction contributes to substantial rewards.
- Additionally, cardholders can enjoy up to Rs. 750 discount on movies twice every month, adding value to their entertainment experiences. For golf enthusiasts, complimentary golf rounds are provided annually, based on their monthly spending patterns. The card also grants access to domestic and international lounges, elevating the travel experience for cardholders. Moreover, with an air accident cover worth Rs. 1 crore, cardholders can travel with peace of mind, knowing they are protected.
- What sets this card apart is its customer-friendly policies, including no late payment fees and no over-limit charges, ensuring a hassle-free banking experience for cardholders. Overall, the IDFC First Private Credit Card is a symbol of exclusivity, generosity, and convenience, catering to the discerning needs of its elite clientele.
- Now, let’s explore the innovative co-branded offering between HDFC Bank and Paytm, revolutionizing the digital banking and payments landscape with their collaborative efforts.
Pros/Cons
Advantages
The IDFC First Exclusive Credit Card empowers cardholders to make a positive impact on society by donating Karma Points to charitable causes.
A generous welcome offer awaits new cardholders, with the opportunity to earn 200,000 Reward Points equivalent to Rs. 50,000.
Disadvantages
Despite offering a plethora of features and benefits, the reward rate of the card is relatively low, with each reward point valued at only 0.25 rupees.
Access to golf lessons and rounds is conditional upon reaching a spending threshold of Rs. 40,000, limiting immediate access to these perks.
IDFC First Private Credit Card Features and Benefits
IDFC First Private Credit Card stands as the pinnacle of exclusivity within the IDFC First Bank’s credit card offerings, available only to a select group of invited customers. Packed with a plethora of enticing privileges, here are the standout features of this prestigious card:
Karma Points
Upon reaching a monthly spend threshold of Rs. 30,000, cardholders begin accumulating Karma Points at a rewarding rate:
Earn 1 Karma Point for every Rs. 100 spent, excluding transactions such as fuel, insurance, EMI, cash withdrawals, and rent payments. Redeem Karma Points at the rate of 1 Karma Point = Re. 0.25 towards a charitable cause of your choice. Default charity partner is CRY Foundation. Once a minimum of 20,000 Karma Points accumulate in your account, they are automatically donated to your chosen charity.
Travel Privileges
Enjoy the luxury of four complimentary domestic lounge accesses every quarter, totaling 16 accesses annually for both primary and supplementary cardholders. Benefit from four complimentary international lounge accesses each quarter, amounting to 16 accesses yearly for both primary and supplementary cardholders. Indulge in four complimentary spa sessions per quarter. Unlock top-tier privileges under the Visa Infinite platform, including Airport Limousine Transfer, Meet and Greet immigration services, and the Affluent Dining program.
Movie Benefits
Receive up to Rs. 750 discount on movie and non-movie ticket bookings, as well as on food and beverages, through the BookMyShow app or website. This benefit can be availed twice per month, providing ample opportunities for entertainment.
Golf Privileges
Enjoy the luxury of two complimentary golf rounds or lessons every month. Access to free golf lessons is granted upon reaching a monthly spending threshold of Rs. 40,000.
Annual/Renewal Fee Benefit
Upon successful payment of the renewal or annual fee, cardholders receive 100,000 Reward Points valued at Rs. 50,000. The Taj Epicure membership is also renewed, adding further value to the cardholder’s experience.
Insurance Coverage
The IDFC First Private Credit Card offers a comprehensive suite of insurance benefits, providing peace of mind to cardholders. Details of the insurance coverage can be found on the IDFC First Bank’s official website.
Experience unparalleled luxury, exclusivity, and generosity with the IDFC First Private Credit Card, designed to cater to the discerning needs of elite customers.
| Category | Insurance Cover |
| 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.
Reward Redemption
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!
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