then apart from this all other transactions are showing 10x rewards only
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IDFC First Bank Launched its Debit Card Reward System
- Thread starter TechnoFino
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This is because part of 58188 is considered below 50k and you've earned 4x on that and on other part you've earned 10x. After this transaction you won't get both in this month
So the current reward rate comes at 2.33% for idfc wealth account
1333.34 points for first 50k
Rest points which can be earned in a month is 48667 for which spends required is 486667
Total spends for earning 50k points is 536667
50k points is 12,500 worth of AGV
1333.34 points for first 50k
Rest points which can be earned in a month is 48667 for which spends required is 486667
Total spends for earning 50k points is 536667
50k points is 12,500 worth of AGV
How the 2.33 for Wealth DC is calculated. AFAIK isn't it should be like this :
Till the milestone of 50K Online
4X points for FIRST Wealth for every Rs. 150 spent via debit card all online purchases
Once you cross 50K
10X reward points for every Rs. 150 spent via debit card on incremental monthly spends above Rs. 50,000 in a month
1 reward point is 0.25INR
Till the milestone of 50K
4*(50000/150)*0.25*(100/50000) = 0.67
For spends above 50K
10*(50000/150)*0.25*(100/50000) = 1.67
Is it extra bonus of 10x making effectively 14x for spends above 50K (i.e., 0.67+1.66 = 2.34) ?
Till the milestone of 50K Online
4X points for FIRST Wealth for every Rs. 150 spent via debit card all online purchases
Once you cross 50K
10X reward points for every Rs. 150 spent via debit card on incremental monthly spends above Rs. 50,000 in a month
1 reward point is 0.25INR
Till the milestone of 50K
4*(50000/150)*0.25*(100/50000) = 0.67
For spends above 50K
10*(50000/150)*0.25*(100/50000) = 1.67
Is it extra bonus of 10x making effectively 14x for spends above 50K (i.e., 0.67+1.66 = 2.34) ?
For wealth, it is 10x for every Rs. 100 spent, not Rs. 150.
For wealth DC, this is the case
IDFC First Bank Wealth debit card reward system-
Online transaction- earn 4 reward points for every Rs. 150 spend
10X reward points (10 reward points per Rs. 150) for every Rs. 150 spent via debit card on incremental spends above Rs. 50,000 in a month.
I got future first.. even with 3l funding I can't get family banking ..
I m happy with zero balance account
But sad when i come across these 💔
In this 10X, 1X means 1 for every 150 right ?
dino
TF Premier
Yes, i have normal 25k mab account debit card.
OK. anyways its clear that for all DCs its per 150. BUT Mandal's calculation seems to be off.
See below terms
Attachments
but why it is so contradicting
If it is 1x per 100. then for 50K incremental it is whopping 2.5%.
10*0.25 = 2.5
10*0.25 = 2.5
Last edited:
For 100rs spent base reward is 0.66 point
Under 10x it's 6.66 points .
I own classic 10k account card
Max points per month 8000rp =2000
If you redeem amazon GC of 1000×2 times
Then you will charged with 117rs per 1000 voucher .
1.6 L spending need to make for 8000points
Overall after cutting redeemtion charges
Net returns is 1.1%
Still its highest in debit card category.
Under 10x it's 6.66 points .
I own classic 10k account card
Max points per month 8000rp =2000
If you redeem amazon GC of 1000×2 times
Then you will charged with 117rs per 1000 voucher .
1.6 L spending need to make for 8000points
Overall after cutting redeemtion charges
Net returns is 1.1%
Still its highest in debit card category.
vinodkugsiya54
TF Select
i think reward redemption fee is per transaction . so if you buy 2 amazon pay gift voucher then fee will be 99 plus gst only.
Last month i buy 3 voucher of Rs. 1000 and i charged only 99 plus GST ONLY
shenoyanil98
TF Select
What I can understand is for wealth debit card it is 0.5% for offline and 0.67% for online upto 50000
Above 50000 it is flat 2.5% for offline as well as online
Above 50000 it is flat 2.5% for offline as well as online
The problem here is 1 rp calculation. Whether it is per 150 or 100.
@GBajaj can you confirm based on your observations?
shenoyanil98
TF Select
Per 150 till 50000 and per 100 after 50000
10x is for every 100 not 150
Yes it is per transaction. Buy 1000*5
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