How To Apply IDFC Select Credit Card

The IDFC FIRST Select Credit Card presents a compelling proposition for high-income earners seeking a no-annual-fee premium card. Its comprehensive benefits package includes competitive features typically found in higher-fee cards. Key advantages include a low foreign transaction fee, unlimited reward points with 10x rewards on select spending categories, and the inclusion of utility and rent payments in the rewards program. The welcome voucher and cashback on EMI transactions further enhance its value proposition.

The card’s appeal extends beyond rewards, encompassing travel benefits (lounge access), entertainment perks (1+1 movie tickets), and additional conveniences such as insurance coverage, dining discounts, roadside assistance, and fuel surcharge waivers. This broad range of benefits caters to diverse lifestyle needs.

However, the card’s high annual income eligibility requirement of ₹12 Lakh limits its accessibility. This positions it directly in competition with other semi-premium cards targeting a similar high-net-worth customer segment. A thorough evaluation should consider this eligibility criterion in relation to the overall benefits package offered before concluding whether the card represents optimal value for a specific individual.

Welcome Benefits

With IDFC FIRST Select Credit Card, you get the following welcome benefits:

• 5% cashback on your first EMI transaction done within 90 days of card set-up
• Gift vouchers worth Rs. 500 on spending Rs. 15,000 within 90 days of card set-up

Rewards Program

IDFC FIRST Select Credit Card offers unlimited rewards that never expire. The reward structure on the card is as follows:

• 10x rewards on  Birthday spends
• 3x rewards on all online purchases up to monthly spends of Rs. 20,000
• 10x rewards on incremental purchases greater than Rs. 20,000 per billing cycle
• 1x rewards on utility spends (charges of 1% of the transaction value are applicable on utility spends of more than Rs. 20,000 in a billing cycle)
• 3x reward points on education, wallet load & government services spends, (these are not considered for 10x reward points calculation)

Here, 1x = 1 reward point per Rs. 150 spent, with value of 1 reward point = Rs. 0.25. Reward points earning and 10x threshold not applicable on fuel, EMI, insurance transactions and cash withdrawals. Education, wallet load & government services spends will also not be calculated for incremental spends threshold calculation.

Travel Benefits

IDFC FIRST Select Credit Card offers travel benefits as following:

• Complimentary railway lounge access (4 per quarter)
• Low foreign exchange mark-up fee of 1.99%
• Complimentary domestic airport lounge access (2 per quarter, subject to spending spending Rs. 20,000 in the previous month)
• Comprehensive Travel Insurance Cover of  Rs. 22,500 (Loss of Checked-In Baggage – Rs.  7,500; Delay of Checked-In Baggage Rs.  5,000; Loss of Passport and other documents – Rs.  5,000; Delay in Flight- Rs.  5,000)

Other Benefits on IDFC FIRST Select Credit Card

• Personal Accident cover of Rs. 5 Lakh & Complimentary Lost Card Liability Cover of Rs. 50,000
• Buy 1 Get 1 offer on movie tickets of up to Rs. 125  (twice per month)
• Fuel surcharge waiver at all fuel stations across India up to Rs. 300 every month
• Interest-free cash withdrawal from ATMs for up to 48 days
•  

IDFC First Select Credit Card Fees and Charges

There are various fees and charges associated with the IDFC First Select Credit Card. Some of the important ones are as follows:

• The IDFC First Select Credit Card comes with zero joining and annual fee, i.e, it is a lifetime free credit card.
• The interest rate on this credit card is 0.75% to 3.5% per month.
• The foreign currency markup fee on the IDFC First Select Credit Card is 1.99% of the total transaction amount.
• The cash advance fee on this credit card is Rs. 199 per transaction.

IDFC FIRST Select Credit Card Eligibility Criteria

The eligibility requirements that need to be fulfilled in order to get approved for the IDFC First Select Credit Card are as follows:

• The minimum eligible age required for this credit card is 21 years.
• The applicant should either be salaried or self-employed with an annual income of Rs. 12 Lakh or more.
• The applicant should have a decent credit score.