Devaluation IDFC Credit Card Minimum Amount Due and Payment Due Date changes effective 17 August 2024

[thegame]

I got the below message from IDFC and looks like they are shortening the due date by 3 days

The payment due date on your credit card will now be 15 days from the statement generation date as per revised MITC starting from August statement cycle & applicable for all subsequent statements.

Dear Cardmember, effective 17 August 2024, some terms of your FIRST Wealth Credit Card will be revised. This includes modifications to the Minimum Amount Due and Payment Due Date for your credit card statement. For more details, please visit: https://idfcfs.in/...se IDFC FIRST Bank

https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/General.pdf

 

[Anupama_Jha]

Hi, have u ever taken any product on emi on idfc cc and cancelled emi later.

 

[Wealth is my birth right!]

I got the below message from IDFC and looks like they are shortening the due date by 3 days

The payment due date on your credit card will now be 15 days from the statement generation date as per revised MITC starting from August statement cycle & applicable for all subsequent statements.

Dear Cardmember, effective 17 August 2024, some terms of your FIRST Wealth Credit Card will be revised. This includes modifications to the Minimum Amount Due and Payment Due Date for your credit card statement. For more details, please visit: https://idfcfs.in/...se IDFC FIRST Bank

https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/General.pdf

View attachment 61586

Yes due date got reduced by 3 days

 

[thegame]

Hi, have u ever taken any product on emi on idfc cc and cancelled emi later.

so far nothing on EMI on IDFC CC, let's wait for others to reply...

 

[phoenix1386]

Wow. Waiting with TF open to post huh! I came here to check just this, some lightning-fast TF couch potato must have posted it in minutes!

So what’s the net interest-free credit period now?

 

[Anupama_Jha]

Wow. Waiting with TF open to post huh! I came here to check just this, some lightning-fast TF couch potato must have posted it in minutes!

So what’s the net interest-free credit period now?

45 days. 30+15

 

[Wealth is my birth right!]

Wow. Waiting with TF open to post huh! I came here to check just this, some lightning-fast TF couch potato must have posted it in minutes!

So what’s the net interest-free credit period now?

Yes i closed my mail from idfc and refreshing tf i saw this post
Lightening fast OP

 

[phoenix1386]

Hmmmm. Banks are slowly eating into our credit period now.

Savings interest. Then taxation on money through mutual funds. Other myriad measures. Reduced rewards. Now reduced credit period.

 

[Anupama_Jha]

Hmmmm. Banks are slowly eating into our credit period now.

Savings interest. Then taxation on money through mutual funds. Other myriad measures. Reduced rewards. Now reduced credit period.

It's called hedging. The rapid speed at which they are disbursing credit limits, people aren't depositing funds at same pace.