Home / Reviews / IDFC First Classic Credit Card

IDFC First Classic Credit Card

IDFC First Classic credit card is a lifetime free credit card that offers up to 10X rewards that never expire, a twofold welcome bonus and few premium-level perks.

The card earns you 3X reward points on offline purchases, 6X points on online spends and 10X points once you cross Rs 20,000 monthly spend. That’s a variable reward rate of 0.5% to 1.67%. Other than rewards, insurance cover, card liability cover and roadside assistance are probably the best features of the First Classic credit card.

IDFC First Bank Classic Credit Card

IDFC First Classic Credit Card Overview

Card CategoryRewards, Lifestyle
Joining FeeNil
Annual FeeNil
Welcome Offer– Welcome voucher worth Rs 500 on Rs 5,000+ spend within 30 days of card generation
– 5% cashback up to Rs 1,000 on first EMI conversion within 30 days of card generation
Best Features-6X and 3X reward points on online and offline spends respectively up to Rs 20,000 per month
– 10X points on incremental spends above Rs 20,000 per month
– Personal accident cover, Card Liability cover and RSA

Details from IDFC First

  • First Classic credit card – Lifetime free.
  • WELCOME OFFER: welcome voucher worth Rs 500 on spending Rs 5,000 or more within 30 days of card generation.
  • Welcome OFFER: 5% cashback up to Rs 1,000 on the first EMI conversion within 30 days of card generation.
  • 10X reward points on incremental spends above Rs 20,000 per month and spends done on your birthday.
  • 6X and 3X reward points on online and offline purchases respectively for spends up to Rs 20,000 per month.
  • Reward points never expire. Use points to instantly pay for online or offline purchases.
  • Take advantage of exciting perks such as 25% discount on Paytm movie tickets, 4 complimentary railway lounge access per quarter, complimentary roadside assistance, 1% fuel surcharge waiver, heavy discounts at restaurants, merchant offers and health & wellness outlets.
  • Personal accident cover of Rs 2 lakh and Lost card liability cover of Rs 25,000.
  • No annual fee, low Interest Rates (APR) from 9-42% p.a., interest free cash withdrawals for up to 48 days.
  • Terms and conditions apply.

Fees and Charges

Joining Fee

Rs 0. (Lifetime free).

Annual Fee

Rs 0. (Lifetime free).

Finance Charges

0.75% to 3.5% per month (9% to 42% per annum)

Foreign Transaction Fee

3.50% of the transaction value.

Cash Advance Fee

Rs 199 per transaction.

Reward Redemption Fee

Rs 99 per redemption transaction.

Late Payment Fee

Less than Rs 100- None
Rs 100- Rs 500- 100
Rs 1,000 – Rs 5,000- Rs 750
Rs 5,000 – Rs 8,000- Rs 1,200
Rs 8,000- Rs 10,000- Rs 1,250
More than Rs 10000- Rs 1,250

Over Limit Penalty

2.5% of the overlimit amount (minimum Rs 500)

Rent Transaction Fee

1% of the total transaction amount + GST

Add-on Card fee

Nil

Card Replacement Fee

Rs 100.

Note: A GST is applicable on fees and charges. See full details here at IDFC First Bank’s website.

IDFC First Bank Classic Credit Card: Benefits & Privileges

Lifetime Free

The card has is lifetime free. No joining or annual fee makes it hassle-free keeping, not worrying about spend-based waivers and all.

Welcome Bonus

The IDFC First Classic credit comes with two welcome offers as part of joining benefits:

  • Welcome Voucher worth Rs 500 on spending Rs 5,000 or more within the first 30 days of card generation.
  • 5% cashback up to Rs 1,000 when you convert your transaction amount into EMIs for the first time, within 30 days of the card generation.

Low charges

The First classic credit card bears low charges and fees as compared to other cards in this segment.

  • Low interest Rates (APR): 9-42% per annum. But that depends on the individual’s overall profile. Most individuals get the APR on the upper side of that scale but HNIs or people with high credit score and ITR etc have been said to get APR around 20-25%.
  • Interest free cash withdrawals: You get interest free cash withdrawals on domestic and international ATMs for up to 48 days. However, cash advance fee of Rs 199 applies per transaction.

The card still carries 3.5% foreign transaction fees, a downer as the IDFC Bank’s WOW credit card comes with zero foreign transaction fees.

Movie Discounts

You get 25% discount on movie tickets up to Rs 100 using Paytm mobile app. This offer can be availed only once a month.

Complimentary Lounge Access

  • The card gives you 4 complimentary railway lounge visits per quarter.
  • There are no airport lounge access – international or domestic, with IDFC First Classic credit card.

Fuel Surcharge Waiver

Get 1% fuel surcharge waiver at all fuel stations across India on transactions between Rs 200 to Rs 5,000. The monthly capping for fuel benefit is at Rs 200 per month. The fuel surcharge waiver is pretty standard but good nonetheless for a lifetime free card. If you spend much on fuel then this isn’t your go-to-card anyway. In that case look at IDFC First Bank’s fuel-centric Power Plus card offering that saves you more than 7% on fuel.

Offers on Dining, Health & Wellness and Merchants

  • You can get up to 20% discount at 1500+ partner restaurants when you use First Classic credit card.
  • Up to 15% discount at 3000+ partner health & wellness outlets.
  • Offers on 300+ merchants.

Personal Accident & Card Liability Cover

You become eligible for a personal accident cover worth Rs 2 lakh and Card liability cover worth Rs 25,000 when you make your first transaction within 30 days of card issuance.

Roadside Car Assistance

The IDFC First Classic credit cardholders get complimentary Road Side Assistance (RSA) across India up to 4 times in a year worth Rs 1,399. You can avail the RSA services by calling at the Toll-free numbers provided by the Bank.

EMIs & Balance Transfer

You can convert your transactions of over Rs 2,500 into EMIs easily and the Bank also providers the balance transfer option but charges a fee for the same.

IDFC First Bank Classic Credit Card Rewards

Reward Points

  • 6X reward points on online spend up to Rs 20,000 per month
  • 3X reward points on offline spend up to Rs 20,000 per month
  • 10X reward points on incremental spends above Rs 20,000 per month and on your birthday.

Conditions:

  • There is no limit to the reward points you can earn. The reward points never expire and can be used to pay instantly for online or offline spend.
  • No reward points are earned on fuel, EMI and cash transactions.
  • Insurance premium payments and utility bill payment will earn you 1X reward points but won’t be a part of 10X program.
  • Rental and property management transactions will earn 3X reward points but don’t qualify for 10X program.

How much are the reward points worth:

1X means 1 reward point per Rs 150, making the value of 1 reward point Rs 0.25 (25 paisa). So for example, if you have accumulated 1000 reward points, that’s equal to Rs 250.

So, the IDFC First Classic credit card comes with a reward rate of 1% on online spends and 0.5% on offline spends. And after spend of over Rs 20,000 within a month, you get a reward rate of 1.67%.

Reward Points Redemption

  • You can login at IDFC First Bank reward redemption portal and redeem your reward points to make purchases or convert into Amazon or Flipkart vouchers, Myntra, Big Basket and many more.
  • Rs 99 reward redemption fee is charged per redemption transaction.

Should You get IDFC First Classic Credit Card?

For a card that’s lifetime free and comes with a range of benefits and rewards as First Classic card does, it’s a good one. The reward system isn’t complex and welcome bonus is quite attractive. On top of that, the Insurance and card liability covers plus Roadside assistance are nice additions too. You can also get discounts using First Classic credit card on offers running through IDFC mobile app or other online shopping platforms from time to time.

But if you are someone looking for more cashback oriented benefits or more premium benefits, then you should look at other options.

How to Apply?

It’s recommended to apply online through IDFC Bank’s website for a fast processing of your application. However, the Bank also accepts applications at some of its branches.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top