IDFC FIRST Bank Credit Card Reward System Devaluation

[TechnoFinoTechnoFino is verified member.]

Hello everyone,
IDFC FIRST Bank devalued it's credit card reward system again.
> Effective 17th May 2022, minimum spends required in a billing cycle to unlock 10X Reward Points is being revised from ₹20,000 to ₹25,000 - For Select.
For Wealth - from 20,000 to 30,000
> Your accrual of 1X = 1 Reward Point per ₹100 will change to 1X = 1 Reward Point per ₹125 (For Select), Classic/Millennia - 1 Reward Point per ₹150
Your Reward Points will continue to have a value of ₹0.25 per Reward Point.
> Effective 1st Oct 2022, Reward redemption through any redemption channel will attract a small convenience charge of ₹99 (+ applicable taxes) per redemption transaction.

For IDFC First Wealth Card -
Core Reward Rate -
Online - 1.5%
Offline - 0.75%
10X - 2.5%
10X after you spend 30K

For IDFC First Select Card -
Core Reward Rate -
Online - 1.2%
Offline - 0.6%
10X - 2%
10X after you spend 25K

For IDFC First Millennia/Classic Card -
Core Reward Rate -
Online - 1%
Offline - 0.5%
10X - 1.67%
10X after you spend 20K

Reward redemption charges 99+GST applicable for all four card variants from 1st oct, 2022.

Share your view.
Bank Page Link (Select Card) - https://www.idfcfirstbank.com/personal-banking/Important-Communication-Rewards-Select
Wealth Card - https://www.idfcfirstbank.com/personal-banking/Important-Communication-Rewards-Wealth
Classic - https://www.idfcfirstbank.com/personal-banking/Important-Communication-Rewards-Classic
Millennia - https://www.idfcfirstbank.com/personal-banking/Important-Communication-Rewards-Millennia

 

[brahmin_baniya]

Why don't u redeem for cash? That's better than vouchers.

For tax reasons ,my primary card is axis ace .Sorry guys amazon pay is still available redeemed all my points for amazon gift card.

 

[Harry1]

For tax reasons ,my primary card is axis ace .Sorry guys amazon pay is still available redeemed all my points for amazon gift card.

I think technofino mentioned something like upto 50000 cb is tax-free. Are you crossing that limit?

 

[brahmin_baniya]

I think technofino mentioned something like upto 50000 cb is tax-free. Are you crossing that limit?

I come very close last year was 38k.if you see my last post history it was 7k last month on axis alone and on idfc was 4k ish.

Better to be safe then sorry.Plus amazon pay is just like money to me.

 

[Souvik]

Idfc has removed amazon gift cards from its reward program ,which for me and a lot of user is another devaluation of idfc card.

IDFC has also of late removed Amazon Prime from its wealth program, the new wealth program is useless.

 

[Souvik]

Honestly people have too much expectations from these stuff

Yes brother youre right 🙂

 

[viveksingh1005]

can any one confirm if do we get separate welcome benefits of 500 voucher on spending Rs 15000 on add on card too ?

 

[Sudip]

I am damn lucky cz after 3 rejections I got to hold Axis Flipkart CC with initial limit of 33K, after that I got Axis Ace, then after using for 1 yr, limit enhanced to 4.35 lkh, applied for axis Airtel CC nd also got the same😍😍

Impressive! Which docs. you submitted to get LE of 4.35 lakhs? Thanks.

 

[bismaj]

Impressive! Which docs. you submitted to get LE of 4.35 lakhs? Thanks.

That was the offering from their side.. I didn't gave any documents to increase the limit. I Guess my spending on their card may be the cause. But right now after 2 yrs of that increase its stuck at that limit and their is no LE further .