Devaluation IDFC FIRST Bank Credit Card Update (Devaluation) - Railway Lounge, Add On Cards Fees

[Mr. X]

We would like to inform you that some of the features and terms of your Credit Card will undergo changes with effect from 20™ Feb 2025:


Statement Date and Payment Due Date: For IDFC FIRST Millennia, FIRST Wealth, and FIRST SWYP Credit Cards, the statement date will be revised to 20* of each month.
The The payment due date continues to be 15 days from the statement date.


Education Fee Payments via Third-Party Platforms:

* A 1% fee (minimum Rs249) will apply to education fee payments made through
third-party platforms such as CRED, PayTM, Cheq, MobiKwik, and others. This fee will not be applicable for payments made directly through the school or college’s official website or at their POS (Point of Sale) machines.
You will continue to earn reward points on these payments in line with your card variant's reward structure.

Fuel Fee & Fuel Surcharge Waiver:
A 1% fee on total fuel spends will be applicable if fuel spends exceeds Rs 30,000 in a statement cycle.

- Example 1: Total fuel spends of Rs10,000 in a statement cycle will not attract a fee.
- Example 2: Total fuel spends of Rs30,000 in a statement cycle will not attract a fee.
- Example 3: Total fuel spends of Rs40,000 in a statement cycle will attract a fee of 400 (1% fee) + taxes.

* The fuel surcharge waiver for Ashva, Mayura, and FIRST Wealth Credit Cards will now be capped at Rs300 per statement cycle.


Annual Percentage Rate (%APR) Range:
IDFC FIRST Bank offers a dynamic interest rate (%APR) ranging from 9% p.a. to 43.8 % p.a.
The interest rate range will be revised, starting from 8.5% p.a. to 46.2% p.a.
The overdue interest rate remains unchanged at 47.88% p.a.
* Interest charges (APR) are only applicable on unpaid dues
For detailed information on interest charges, please refer to Section 1 (iv) of the MITC.
This is not applicable to FIRST SWYP Credit Card.


Railway Lounge Access:
IDFC FIRST Bank offers complimentary Railway Lounge Access on many of its cards. These lounges, located at select railway stations, provide travellers with premium amenities such as:
- Comfortable seating,
- Wi-Fi,
- Charging stations,
- Meals, snacks, beverages,
- Shower facilities (availability varies by lounge).

Complimentary Railway Lounge Access (as applicable) will now require a minimum spend of 20,000 in the previous calendar month.

- Example: Spends of 20,000 or more in March 2025 will enable complimentary lounge access for April 2025.


Add-On Card Fee:
IDFC FIRST Bank offers a completely digital, seamless and instant card issuance application for Add-On cards. Add-on cards are linked to the Primary Card and allow the Add-On Cardholder to enjoy all the card privileges.
- For all Add-On Cards created on or after 20th February 2025, a joining and annual fee of Rs499 + taxes will apply.
- This fee is not applicable for all Add-On Cards created before 20th February 2025.
- Add-On Card fees remain unchanged for Ashva, Mayura, and FIRST Private Credit Cards.

Card Replacement Fee:
The card replacement fee will be revised to Rs199 + taxes, including cards with the
Image Personalisation feature.
* Replacement fees remain unchanged for:
- Metal Credit Cards (Ashva, Mayura, and FIRST Private Credit Cards).
- Digital Credit Cards (FIRST Digital and FIRST EArN Credit Cards).

Image Personalisation Fee:
IDFC FIRST Bank allows its cardmembers to design their credit cards with a favourite photo or a picture from its ready-made gallery.
- For cards with the Image Personalisation feature created on or after 20th February 2025, a joining and annual fee of Rs499 + taxes will apply.
- Annual fee does not apply to Image cards created before 20th February 2025.
- The Image Personalisation feature is available on specific card variants.

Important Notes:
All changes mentioned above do not apply to the FIRST Private Credit Card.
Goods & Services Tax (GST) at 18% (or as notified by the Government of India) will be applicable on all fees, interest, and charges.
Fuel MCCs: 5172, 5541, 5542, 5983.
Education MCCs: 8299, 8211, 8241, 8244, 8249, 8220.

 

[Ashu Chaudhary]

It's time to close idfc card unbelievable have to spend for railway lounge

 

[metal_heart]

It's time to close idfc card

I dont think; ppl will close it because of this.
Many had just kept it for occasional Bank Offer, Movie Ticket, lounge etc.

Till the time its LTF, it doesn't harm occupying my drawer space.

 

[tachniki]

Many had just kept it for occasional Bank Offer, Movie Ticket, lounge etc.

Or to check mcc code without calling customer support. 😁

 

[tanujsheoran]

​

1. Statement Date and Payment Due Date: • Statement date will be revised to 20th of each month for FIRST Millennia, FIRST Wealth and FIRST SWYP Credit Cards. • The payment due date continues to be 15 days from the statement date. 2. Education Fee Payments via Third-Party Platforms: • A 1% fee (minimum ₹249) will apply to education fee payments made through third-party platforms such as CRED, PayTM, Cheq, MobiKwik, and others. • This fee will not be applicable for payments made directly through the school or college’s official website or at their POS (Point of Sale) machines. • You will continue to earn reward points on these payments in line with your card variant's reward structure. 3. Fuel Fee & Fuel Surcharge Waiver: • 1% fee on total fuel spends will be applicable if fuel spends exceed ₹30,000 in a statement cycle. – Example 1: Total fuel spends of ₹10,000 in a statement cycle will not attract a fee. – Example 2: Total fuel spends of ₹30,000 in a statement cycle will not attract a fee. – Example 3: Total fuel spends of ₹40,000 in a statement cycle will attract a fee of ₹400 (1% fee) + taxes. • The fuel surcharge waiver will now be capped at ₹300 per statement cycle for Ashva, Mayura, and FIRST Wealth Credit Cards. 4. Annual Percentage Rate (%APR) Range: • IDFC FIRST Bank offers dynamic interest rate (%APR) range from 9% p.a. to 43.8 % p.a. • The interest rate range will be revised, starting from 8.5% p.a. to 46.2% p.a. • Overdue interest rate remains unchanged at 47.88% p.a. • Interest charges (APR) are only applicable on unpaid dues • For detailed information on interest charges, please refer to Section 1 (iv) of the MITC. • This is not applicable on FIRST SWYP Credit Card. 5. Railway Lounge Access: • IDFC FIRST Bank offers complimentary Railway Lounge Access on many of its cards. These lounges, located at select railway stations, provide travellers with premium amenities such as: – Comfortable seating, – Wi-Fi, – Charging stations, – Meals, snacks, beverages, – Shower facilities (availability varies by lounge). • Complimentary Railway Lounge Access (as applicable) will now require a minimum spend of ₹20,000 in the previous calendar month. – Example : Spends of ₹20,000 or more in March 2025 will enable complimentary lounge access for April 2025. 6. Add-On Card Fee: • IDFC FIRST Bank offers a completely digital, seamless and instant card issuance application for Add-On cards. • Add-on cards are linked to the Primary Card and allow the Add-On Cardholder to enjoy all the card privileges. – For all Add-On Cards created on or after 20th February 2025, a joining and annual fee of ₹499 + taxes will apply. – This fee is not applicable for all Add-On Cards created before 20th February 2025. – Add-On Card fees remain unchanged for Ashva, Mayura, and FIRST Private Credit Cards. 7. Card Replacement Fee: • The card replacement fee will be revised to ₹199 + taxes, including cards with the Image Personalisation feature. • Replacement fees remain unchanged for: – Metal Credit Cards (Ashva, Mayura, and FIRST Private Credit Cards). – Digital Credit Cards (FIRST Digital and FIRST EA₹N Credit Cards). 8. Image Personalisation Fee: • IDFC FIRST Bank allows its cardmembers to design their credit cards with a favourite photo or a picture from its ready-made gallery. – For cards with the Image Personalisation feature created on or after 20th February 2025, a joining and annual fee of ₹499 + taxes will apply. – Annual fee is not applicable to Image cards created before 20th February 2025. – The Image Personalisation feature is available on specific card variants.

​ Important Notes: • All changes mentioned above do not apply to the FIRST Private Credit Card. • Goods & Services Tax (GST) at 18% (or as notified by the Government of India) will be applicable on all fees, interest, and charges. • Fuel MCCs: 5172, 5541, 5542, 5983. • Education MCCs: 8299, 8211, 8241, 8244, 8249, 8220. [td] ​ [td] – ​

[td]
We would like to inform you that some of the features and terms of your Credit Card will undergo changes with effect from 20th Feb 2025:

[/td]

​

[td]
Merchant Category Codes (MCCs) are defined by network partners (VISA/Mastercard/NPCI) and are used by the Bank for categorizing spends, calculating rewards, and applying fees/charges etc. as outlined in the MITC or Schedule of Charges.

[/td]


[/td]


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[surojitlaha]

@BVC
Merge this thread

Devaluation Thread 'IDFC FIRST Bank Credit Card Update (Devaluation) - Railway Lounge, Add On Cards Fees'

Wednesday at 1:44 PM

We would like to inform you that some of the features and terms of your Credit Card will undergo changes with effect from 20™ Feb 2025:


Statement Date and Payment Due Date: For IDFC FIRST Millennia, FIRST Wealth, and FIRST SWYP Credit Cards, the statement date will be revised to 20* of each month.
The The payment due date continues to be 15 days from the statement date.


Education Fee Payments via Third-Party Platforms:

* A 1% fee (minimum Rs249) will apply to education fee payments made through
third-party platforms such as CRED, PayTM, Cheq, MobiKwik, and others. This fee...

• Mr. X
• card credit card credit card devaluation devaluation idfc idfc credit card idfc first idfc first bank idfc first bank credit card update
• Replies: 74
• Forum: IDFC FIRST Bank Credit Card

• 
• 
• 

 

[pranjal1984]

What is now left to devalue? Banks like IDFC and Yes are now becoming pioneers in devaluing never before expected categories such that other banks are also getting ideas from them to devalue their cards bit by bit. The day is not far when we will keep 1 or 2 credit cards with us.

 

[pgarg24]

Image personalization reh gaya 😜

it have joining fee of 499+taxes.. wo kon hi de ab.. phone me hi wallpaper laga lenge😏😏

 

[Ak Singh]

Aaj hi limit increase ka offer mila tha idfc cc per,
Uski bhi khushi nahi rehdne di in idfc walo ne..
Railway lounge ke liye bhi spend criteria, like seriously.😒

Yeh harkate sirf chindi bank hi ker sakta hai, yeh pak se bade bhikhari nikle.

 

[Aniket]

it have joining fee of 499+taxes.. wo kon hi de ab.. phone me hi wallpaper laga lenge😏😏

Ye bhi theek hain!

Haan joining toh tha hi ab annual bhi 20 feb se

 

[Sanju Dey]

20K spend?
Very bad decision.

 

[BVCBVC is verified member.]

What is now left to devalue? Banks like IDFC and Yes are now becoming pioneers in devaluing never before expected categories such that other banks are also getting ideas from them to devalue their cards bit by bit. The day is not far when we will keep 1 or 2 credit cards with us.

IDFC tried giving all LTF cards with huge returns and benefits to attract customers, but at the end it’s denting their profitability. They tried to launch paid cards in the form of Mayura and Ashva even they failed. So they had no other option. Devalue them bluntly. They might even ramp up their complete portfolio.

 

[tushu5121]

We would like to inform you that some of the features and terms of your Credit Card will undergo changes with effect from 20™ Feb 2025:


Statement Date and Payment Due Date: For IDFC FIRST Millennia, FIRST Wealth, and FIRST SWYP Credit Cards, the statement date will be revised to 20* of each month.
The The payment due date continues to be 15 days from the statement date.


Education Fee Payments via Third-Party Platforms:

* A 1% fee (minimum Rs249) will apply to education fee payments made through
third-party platforms such as CRED, PayTM, Cheq, MobiKwik, and others. This fee will not be applicable for payments made directly through the school or college’s official website or at their POS (Point of Sale) machines.
You will continue to earn reward points on these payments in line with your card variant's reward structure.

Fuel Fee & Fuel Surcharge Waiver:
A 1% fee on total fuel spends will be applicable if fuel spends exceeds Rs 30,000 in a statement cycle.

- Example 1: Total fuel spends of Rs10,000 in a statement cycle will not attract a fee.
- Example 2: Total fuel spends of Rs30,000 in a statement cycle will not attract a fee.
- Example 3: Total fuel spends of Rs40,000 in a statement cycle will attract a fee of 400 (1% fee) + taxes.

* The fuel surcharge waiver for Ashva, Mayura, and FIRST Wealth Credit Cards will now be capped at Rs300 per statement cycle.


Annual Percentage Rate (%APR) Range:
IDFC FIRST Bank offers a dynamic interest rate (%APR) ranging from 9% p.a. to 43.8 % p.a.
The interest rate range will be revised, starting from 8.5% p.a. to 46.2% p.a.
The overdue interest rate remains unchanged at 47.88% p.a.
* Interest charges (APR) are only applicable on unpaid dues
For detailed information on interest charges, please refer to Section 1 (iv) of the MITC.
This is not applicable to FIRST SWYP Credit Card.


Railway Lounge Access:
IDFC FIRST Bank offers complimentary Railway Lounge Access on many of its cards. These lounges, located at select railway stations, provide travellers with premium amenities such as:
- Comfortable seating,
- Wi-Fi,
- Charging stations,
- Meals, snacks, beverages,
- Shower facilities (availability varies by lounge).

Complimentary Railway Lounge Access (as applicable) will now require a minimum spend of 20,000 in the previous calendar month.

- Example: Spends of 20,000 or more in March 2025 will enable complimentary lounge access for April 2025.


Add-On Card Fee:
IDFC FIRST Bank offers a completely digital, seamless and instant card issuance application for Add-On cards. Add-on cards are linked to the Primary Card and allow the Add-On Cardholder to enjoy all the card privileges.
- For all Add-On Cards created on or after 20th February 2025, a joining and annual fee of Rs499 + taxes will apply.
- This fee is not applicable for all Add-On Cards created before 20th February 2025.
- Add-On Card fees remain unchanged for Ashva, Mayura, and FIRST Private Credit Cards.

Card Replacement Fee:
The card replacement fee will be revised to Rs199 + taxes, including cards with the
Image Personalisation feature.
* Replacement fees remain unchanged for:
- Metal Credit Cards (Ashva, Mayura, and FIRST Private Credit Cards).
- Digital Credit Cards (FIRST Digital and FIRST EArN Credit Cards).

Image Personalisation Fee:
IDFC FIRST Bank allows its cardmembers to design their credit cards with a favourite photo or a picture from its ready-made gallery.
- For cards with the Image Personalisation feature created on or after 20th February 2025, a joining and annual fee of Rs499 + taxes will apply.
- Annual fee does not apply to Image cards created before 20th February 2025.
- The Image Personalisation feature is available on specific card variants.

Important Notes:
All changes mentioned above do not apply to the FIRST Private Credit Card.
Goods & Services Tax (GST) at 18% (or as notified by the Government of India) will be applicable on all fees, interest, and charges.
Fuel MCCs: 5172, 5541, 5542, 5983.
Education MCCs: 8299, 8211, 8241, 8244, 8249, 8220.

I can understand the Spend cap on railway lounge access.
As nowdays there are too much crowd in Railway lounge.
But 20K is very high.
I mean they want to race with axis
In shamefull decisions

 

[arvinder]

Or to check mcc code without calling customer support. 😁

how can we do that ? plz explain

 

[denisjos]

Ah we are discussing idfc and icici devals so much.. what happens when hdfc finally publishes their devaluation
The official mourning would atleast last a month if not more

 

[anonymuos]

IDFC FIRST G₹EED. This is the same bank that heavily advertises 0 charges on almost all banking services. Clearly the credit card department thinks differently.

 

[BVCBVC is verified member.]

I can understand the Spend cap on railway lounge access.
As nowdays there are too much crowd in Railway lounge.
But 20K is very high.
I mean they want to race with axis
In shamefull decisions

They wanted it to maintain uniform across Airport Lounge, Spa and Railway Lounge.

 

[BVCBVC is verified member.]

IDFC FIRST G₹EED. This is the same bank that heavily advertises 0 charges on almost all banking services. Clearly the credit card department thinks differently.

Ha ha. Even though departments are different comes under same roof. So they have to take tough calls to be profitable. They’re bleeding heavily.

 

[S9100]

IDFC FIRST G₹EED. This is the same bank that heavily advertises 0 charges on almost all banking services. Clearly the credit card department thinks differently.

Good point.
Charges for replacement , add ons not reasonable.

 

[anonymuos]

Ha ha. Even though departments are different comes under same roof. So they have to take tough calls to be profitable. They’re bleeding heavily.

View attachment 80708

I see. Apparently Q2 2024 wasn't great either: https://www.business-standard.com/c...fit-falls-73-to-rs-201-cr-124102600847_1.html OK I take back what I said but it's quoted 🤭 Still there are better ways to monetize like stopping 0-balance accounts rather than add-on card charges, that too, ₹589!

 

[BVCBVC is verified member.]

I see. Apparently Q2 2024 wasn't great either: https://www.business-standard.com/c...fit-falls-73-to-rs-201-cr-124102600847_1.html OK I take back what I said but it's quoted 🤭 Still there are better ways to monetize like stopping 0-balance accounts rather than add-on card charges, that too, ₹589!

Yes add on charges thing is worst part, even I shared my view regarding that on my profile. My point was regarding Railway lounges spending and other parts.