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.

 

[S9100]

Unbelievable that a bank should pay the lounge fee for a customer who doesn’t give them even minimal business.

But you can't defend fees on add ons.

 

[hiraktalukdar]

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:
1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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).
7. 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.

 

[hiraktalukdar]

Railway Lounge Access: 20K/M 🙂

 

[BVCBVC is verified member.]

Already there is a thread on this. Please check on TF before creating a new thread. @hiraktalukdar

 

[abhiver]

IDFC card are almost useless for lounges, sad to see it putting spend limit on Railway Loungue as well.

 

[NOOBY]

@Mr. X kindly add link: https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/WLWS.pdf

 

[metal_heart]

Well, why should they bear the fee if the customer isn’t giving them even a minimal amount of business?

That's fair point, but 20K is too steep for railways lounge. 5K limit would have been decent.
Alternatively,
I would have rather put condition ; ticket (airline/railway) should have been booked by the card to be eligible for lounge access.
No. of ticket booked, enables equal no. of complimentary lounge. Need lounge; book ticket with the card.

 

[tamizhventhan]

Bought IDFC card only for railway lounge access,But that too need a minimum spend

 

[kuchbhi]

@sidp @Akashn @cardio_guy mergers incoming

 

[Mr. X]

@Mr. X kindly add link: https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/WLWS.pdf

Done bro thanks.

 

[sidp]

Let's keep the discussion open in a single thread.

Check out Thread 'IDFC FIRST Bank Credit Card Update (Devaluation) - Railway Lounge, Add On Cards Fees' https://www.technofino.in/community...ation-railway-lounge-add-on-cards-fees.36742/

 

[varunpardhan]

Devaluation winner goes to IDFC FIRST BANK seriously 20k spend on railway Lounge

 

[Lobogris]

Devaluation winner goes to IDFC FIRST BANK seriously 20k spend on railway Lounge

Let’s assume railway lounge access costs Rs 200 to the bank. Now, let’s assume, they make 1% as their share of the MDR charges. Now, calculate how much spending they need to recover the cost before we factor reward points, interest free period and general cost of doing business which includes offices, salaries for thousands of employees etc. At 20k, they won’t even break even on just paying for the lounge access. You are not giving 20k to the bank. All they get is 1 to 2% MDR which is further divided with the network like Visa and the equipment provider like Pinelabs etc.

 

[Lobogris]

But you can't defend fees on add ons.

I do. Why should a bank provide a free facility? You want a card? Pay for it.

 

[S9100]

I do. Why should a bank provide a free facility? You want a card? Pay for it.

There is absolutely no logic for this. You don't know how a bank works. Or even how a business works.
You have never heard of ltf cards, free imps, free atm? All this should be paid according to you as these all are services. All this is done to promote the bank, their services, their usage. Cards are given ltf so consumers use their card.
Next you will say bank is paying rent for the branches, so they should charge you for that.