IDFC First Classic offers a lifetime-free credit card with 10x rewards on purchases over Rs. 20,000. Additionally, it provides welcome gift cards worth Rs. 500 as well as some exclusive benefits in categories like entertainment and lifestyle. It offers up to 2.5% returns, which are relatively decent for a starting credit card. It is perfect for people looking for a credit card with no annual fee, commendable rewards, low-interest rates, and beneficial features. Let’s take a detailed look at the features of the IDFC First Classic Credit Card.

Features of IDFC First Credit Cards

Rate of return model

Based on the user’s profile, IDFC First Credit Cards have a variable bank rate model. Rates of interest start at 9 percent annually. And could go up to 42 percentage points p.a. Best-rated clients are eligible for a 9% annual discount. (Every month, 0.75%). Additionally, cash withdrawals made using IDFC First Credit Cards are interest-free for up to 48 days and only cost Rs. 250.

In India, many credit cards do not provide an interest-free time frame for cash withdrawals, so interest is charged on these exchanges as of the withdrawal date. Additionally, they start charging a withdrawal fee of up to Rs. 500. However, IDFC First Cards offer the lowest withdrawal fee and a period of interest-free cash transactions.

Joining Advantages

With IDFC FIRST Classic Credit Card, users will have a gift card worth Rs.500 on having to spend Rs.15, 000 within ninety days from the date of card activation. Also, a five percent rebate is offered on the first EMI transaction within ninety days of card set-up. Although the first benefits are not very noteworthy, they can be considered acceptable given that the card is completely free for life.

Nil Membership and Yearly Charge

The IDFC FIRST Classic Credit Card has no annual or initiation fees because it is free for life. However, when you do not desire to pay a yearly or participating fee for your credit card and want to receive expansive rewards in return and avail of special privileges, this card can be a good option.

Indefinite Reward Points 

Rewards points earned with the IDFC First Classic Credit Card never expire. You won’t need to be concerned about your points expiring in this manner. On items purchased over Rupees-20,000, and on your b’day, you can use this card to earn 10X more reward points. The IDFC First Classic Credit Card also offers 6X & 3X reward points on online & in-store items purchased up to Rs 20,000.

The accumulated reward points can be used whenever you want! They could also be used to make additional purchases and pay for them. You should indeed understand that: 0.25 rupees equal one reward point, 1X = 1 Reward point for every hundred spent Rupees.

Benefits of Reward

For any purchase that costs more than $20,000, you’ll increase your reward points by 10. You will receive three times as many reward points on all offline purchases. On all online purchases, you’ll receive 6X Reward Points. On your birthday, you’ll earn 10X more reward points. The IDFC First Classic Credit Card has no cap on how many rewards you can make to reach thousands of points.

The reward points never expire, and you can use them anytime. You are eligible to receive one reward point for every 100 you spend. However, one reward point is worth 25 paise. Thus for ₹1 rupee, you would need Four reward points.

Railway Lounge Access

The IDFC First Classic Credit Cards give four pleasant railway lounge trips each qtr. But there are better alternatives for people who prefer to attend the airport lounges!

Discounts

Monthly movie ticket savings of up to Rs. 100 are available with the card. You could also eat at your favorite spots: there are over 50 in-App deals as well as up to 20percentage savings on far more than 1,500 establishments.

Other Privileges

Have a Savings of 25 percentage points on cinema tickets each month with a total restriction of ₹100. Also, this bank card has four Free or discounted Rail line Club Trips each qtr. Get up to $200 in fuel surcharges waived each month at the filling stations. Have Accident Insurance Coverage of up to ₹2 Lacs with this card.

Have a Free Lost Card Liabilities Coverage of ₹25000. Avail of 50plus In-App Discount Offers using this Credit Card. Also, a Complimentary Road Side Help of ₹1399. After making just one credit card purchase over the preceding month, you are eligible for the bonuses.

Cons of the IDFC FIRST Classic Credit Card

A benefit over many other credit cards is the IDFC FIRST Classic Credit Card’s lifetime free credit card. The 48-day interest-free cash withdrawal period and the requirement to spend Rupees fifteen thousand in under 90 days of card activation for the welcome voucher of Rs. 500, respectively, are some of the major drawbacks of having the IDFC FIRST Classic Credit Card.

Also, this card only gives unique vacation and leisure privileges. This credit is a suitable choice for those who have never used credit before and make modest credit card purchases.

Should you obtain IDFC FIRST Classic Bank Card?

You must go for an IDFC FIRST Classic Bank Card if you: Desire to receive infinite points for all purchases. Like to watch films in cinemas. Dine out with pleasure. Have a desire for unlimited railway lounge access.

Credit card charges for the IDFC First Classic

The IDFC First Classic Card carries several fees and costs. Here are a few of the crucial ones: The IDFC First Classic Card has no annual or membership fees, making it a lifetime-free credit card. This credit card has a 0.75% to 3.5% monthly interest rate. The IDFC First Classic Credit Card charges a foreign currency markup fee of 1.99% of the overall transaction value. The cash credit charge on this credit card is 2.5 percent of the sum withdrawn.

Eligibility Requirements for the IDFC FIRST Classic Credit Card

The eligibility rules that need to be satisfied to get authorized for the IDFC First Classic Card are as described in the following: The minimum eligibility age requirement for this credit card is 21 years. The applicant should have a respectable monthly salary and work either as an employee or independently. The applicant must have a good credit rating.

Conclusion

Customers of the IDFC FIRST Classic Credit Card receive all the unique benefits and incentive offers that one would anticipate receiving from a credit card. But the best part is that you may obtain all these advantages with a card that’s also completely free to own, meaning there is never a joining or renewal cost.

Additionally, the card’s cheap interest rates are another compelling factor in your decision. Therefore, the IDFC FIRST Classic Credit might be an excellent alternative for you if you’re seeking a bank card with no joining/renewal charge and exclusive Reward incentives & bonuses.