The IDFC First Millennia is a lifetime free credit card that’s good for people looking for regular usage or who are new to credit. The First Millennia offers 3-6X rewards on normal spending but is among the few entry-level cards offering incremental spending based rewards with a return value of up to 1.67%. The new customers get good joining benefits with a voucher worth Rs 500 and another option to earn 5% cashback up to Rs 1,000 on the first EMI transaction within 30 days of card setup.
Read all about its features, benefits, fees and charges in this review.
IDFC First Millennia Credit Card Overview
|– welcome voucher worth Rs 500 on spending Rs 5,000 within first 30 days
– 5% cashback up to Rs 1,000 on transaction value of EMI done within first 30 days
|– 10X rewards (1.67% return) on incremental spending above Rs 20,000
Fees & Charges
- Joining Fee: Lifetime Free
- Annual Fee: Lifetime Free
- Finance Charges: 0.75%- 3.5% per month (9%-42% per annum)
- Foreign Transaction Fee: 3.50% of the transaction value
- Cash Advance Fee: Rs 199 + GST per transaction
- Reward Redemption Fee: Rs 99 per request
- Over Limit Charges: 2.5% of the over-limit amount subject to a minimum charge of Rs 500
- Rent Transaction Fee: 1% of the transaction amount + GST.
- Add-on Card fee: Nil
Note: GST as applicable on fees and charges. See full details here at IDFC First Bank’s website.
IDFC First Millennia Credit Card Benefits & Features
From an incremental spend-based reward program to insurance coverage, the First Millennia offers a good combination of benefits and privileges for a card that’s lifetime free.
- Rs 500 voucher: You get a welcome voucher worth Rs 500 on spending Rs 5,000 or more within 30 days of card generation. You will get the voucher once eligible which you can then redeem on the IDFC First Rewards portal.
- 5% cashback on first EMI conversion: You get 5% cashback up to Rs 1,000 on the transaction value of first EMI done within 30 days of card generation. Its a good offer as you can avail of Rs 1,000 cashback on making a purchase of Rs 20,000.
IDFC First Millennia Credit Card Rewards
The IDFC First Millennia credit card gets you 6X rewards on online spends, 3X rewards on offline spends including rental and property payments, and 1X rewards on insurance and utility bill payments. But the best rewards come with incremental spends. On incremental spends above Rs 20,000, you get 10X rewards. However, rental, property, insurance and utility bill payments are not counted for the 10X rewards program on incremental spends. And fuel transactions, EMI conversions and cash advances do not earn any reward points at all.
Spends up to Rs 20,000 earn you normal 1-6X reward points and thereafter 10X points on incremental spends on eligible spends.
|Type of Spend
|Reward Rate (Return Value)
|Incremental spends above Rs 20,000 (rental, property, insurance and utility bill payments excluded)
|10 reward points per Rs 150
|6 reward points per Rs 150
|3 reward points per Rs 150
|Rental & Property payments
|3 reward points per Rs 150
|Insurance & Utility bill payments
|1 reward points per Rs 150
Reward Points Value and Redemption
- 1X rewards = 1 reward point per Rs 150.
- 1 reward point = Rs 0.25 (25 paisa)
- Reward points never expire.
- You can redeem the reward points on IDFC First Rewards Poshvine portal on a number of categories including flights & hotels, gift cards and product catalog.
- You can also use the reward points to instantly pay for online or in-store purchases.
Other Key benefits and privileges
- Movie Offer: You get 25% discount of up to Rs 100 on buying movie tickets through PayTm mobile app. This offer can be availed only once per month.
- Railway Lounge Access: The cardholder gets 4 complimentary Railway lounge visits per calendar quarter in India via DreamFolks. There is only about 8 railway lounges where you can avail this offer.
- Roadside Assistance: The IDFC First Millennia card gives you access to the complimentary Road Side Assistance (RSA) worth Rs 1,399 all over India. You can avail this service up to 4 times in a year through Global Assure just by calling.
- Insurance Cover: The First Millennia credit card holders get a card liability cover of up to Rs 25,000, a personal accident cover of up to Rs 2 lakh, a credit shield cover up to Rs 25,000 and a purchase protection cover of up to Rs 25,000. The insurance coverage is good enough for an entry-level card.
- Fuel Surcharge Waiver: You get 1% fuel surcharge waiver across all fuel stations when you pay using First Millennia card. The offer is applicable on transactions valued between Rs 200 to Rs 5,000 and monthly benefit capping is Rs 200.
- Dining Offers: You can get up to 20% discount at the 1,500+ partner restaurants using the First Millennia credit card.
- Health & Wellness benefits: The cardholders get up to 15% discount at 3,000+ health & wellness outlets.
- Balance transfer: The First Millennia card also offers the balance transfer option although some eligibility norms apply.
Additional Benefits on RuPay variant for UPI
The IDFC First Bank is now giving you the option to get a virtual RuPay credit card to link with UPI apps and make UPI payments. The card is virtual and is disbursed instantly. You can get it additionally after getting First Millennia. It’ll be linked to your First Millennia card with a shared limit.
While First Millennia card is lifetime free, the RuPay variant carries a joining fee of Rs 199 and also an annual fee of Rs 199. But that is compensated with a 100% cashback offer as you get up to Rs 200 cashback i.e., Rs 50 each on first 4 UPI transactions. The RuPay variant also earns you 3X rewards on transactions above Rs 2,000 and 1X rewards on transactions below Rs 2,000.
The IDFC First Millennia credit card is a good option for someone looking for a regular card to hold for everyday use with standard perks and privileges of holding a credit card.
The best feature of the card is the incremental spend-based rewards program but if you’re looking to spend that much, there are better cards out there with better rewards and benefits. The card lacks premium benefits such airport lounge access, golf program and offers no cashback. It’s not for people looking to get most out of their spends.
How to Apply?
The best way is to apply online through the official website of IDFC First Bank. You can apply even if you are not an existing customer of the Bank.
- The card considers various factors including your credit score during the application process.
- The applicant must be an Indian citizen of age and must have annual income of Rs 3 lakh or more.
Read more credit card reviews here.