IDFC First Bank Credit Cards Devalued - All IDFC First Credit Cards Are Affected

[sidp]

IDFCFirst is anyway not giving cards to all locations in India, they are also restricted to cities. I actually feel that Axis Bank approach is better. Making defaulters prove that their cards are not being used for business purpose and if guilty debit their points and close their cards. IDFCFirst is just using some use cases to essentially devalue. Everyone will have their own opinion. But point is if you're clean, you're clean, you don't want any devaluations!

See bank can use algorithm to go through someone's statement but going through clarification/invoice & finding out is the clarification is genuine or not then asking reclarification are all manual process. So extra man power- extra cost.

most genuine users will be happier with this approach. It affects much lesser people. So less backlash to bank. And asking for invoice for all transactions and asking for clarification why a travel card is used on travel category spend is not only idiotic, it's insulting.

Axis isn't just targeting abusers, they are sending random notice, even to peoplewith few thousands of spend on that category. How many people save invoice of personal spends even after 6-8 months? If 1 random month instead of 15k grocery bill, i have 30k grocery bill because I have some extra guests, am I supposed keep receipts cause axis might ask for it later when it pleases?

 

[sid16]

See bank can use algorithm to go through someone's statement but going through clarification/invoice & finding out is the clarification is genuine or not then asking reclarification are all manual process. So extra man power- extra cost.

most genuine users will be happier with this approach. It affects much lesser people. So less backlash to bank. And asking for invoice for all transactions and asking for clarification why a travel card is used on travel category spend is not only idiotic, it's insulting.

Axis isn't just targeting abusers, they are sending random notice, even to peoplewith few thousands of spend on that category. How many people save invoice of personal spends even after 6-8 months? If 1 random month instead of 15k grocery bill, i have 30k grocery bill because I have some extra guests, am I supposed keep receipts cause axis might ask for it after when it pleases?

Axis matter is blown out of proportion. Most users have never received a notice from Axis. 1% will make 100% noise. You can take a poll to see how many high spenders of Axis Cards have actually got the notice.

To your example, if one random month there is 30k utility bill, a "Wealth" credit card owner of IDFCFirst has to keep track of all utility bills paid the entire month? If he just swipes his card and then has to pay 1% MORE, what is the point? The bank could have not issued reward points beyond 20k. That's perfectly fine. Why CHARGE 1%? This extra charge makes zero sense!

 

[Vasuki]

Sid vs Sid
New movie 🎥 script

 

[kshitij_0]

Mera nhi hua ..
Still in credit review.
Did u do home verification

Maine Upgrade karwaya from Select (3.27L) without income proof.

 

[Vasuki]

Maine Upgrade karwaya from Select (3.27L) without income proof.

Congratulation 🎉
Rare W

 

[sid16]

Sid vs Sid
New movie 🎥 script

No such thing bro, I'm completely fine towards a healthy debate and surely @sidp is too. Don't even use this card for utility. But this TREND is going south. Till the point where some spends are excluded from rewards, it is fine. But the moment where we need to check and see whether we will pay EXTRA CHARGES for using CC, it is a really wrong trend if set across the board and it will become A CHORE to use credit cards.

 

[msankadi]

main toh kehta hu TF band hi kar do...shayad yahan dekh dekhke aur logo ko bhi misuse karne ka idea lagta hai...and bank ko bhi idea lagta hai ki kya band karna hai

 

[Vasuki]

main toh kehta hu TF band hi kar do...shayad yahan dekh dekhke aur logo ko bhi misuse karne ka idea lagta hai...and bank ko bhi idea lagta hai ki kya band karna hai

If after seeing cat , pegion closes her eyes .
Doesn't mean cat won't eat the piegon

 

[Dad0h0j0]

There is more devaluation news communicated to me on my idfc card

 

[Vasuki]

There is more devaluation news communicated to me on my idfc card

Like what .

 

[Dad0h0j0]

Here they are

 

[Dad0h0j0]

Like what .

Forgot to add images

 

[Dad0h0j0]

There is more devaluation news communicated to me on my idfc card

 

[Dad0h0j0]

Like what .

Edited original post

 

[iamdhamo]

I too got the same

 

[Random123]

https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/cvp/MillenniaCVP-1.pdf

https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/cvp/ClassicCVP-1.pdf

https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/cvp/SelectCVP-1.pdf

https://www.idfcfirstbank.com/content/dam/idfcfirstbank/pdf/cvp/WealthCVP-1.pdf

Links for the same info shared by @patelkishan400700

 

[Dad0h0j0]

so as per my understanding:

6x on online spend is removed, and changed it to 3x

paytm movie offer changed to 125 rs , 2 times in month,

many people using it to paying tax and getting 10x rewards is now not consider in 10x category.

SPEND Based LOUNGE ACCSESS. 🤦‍♂️🤦‍♂️

and same utility terms and conditions mentioned in Original post by @TechnoFino

 

[Saipsy]

For select 1 point was calculated for 125. Looks like now 1 point for 150.

 

[ccdc]

the points system has also changed

 

[ghosh_sham]

Devaluation of Select card - nothing left. No rewards plus no movie discounts left. Whatever is there is just a waste.