IDFC First Bank Launched its Debit Card Reward System

[Dragon_slayer]

IDFC Wealth Account - 10L Welcome Chq. they want to TRV of 10L to maintain it?

Maintain it for 1 month, they will assign you RM and also on mobile app it will start showing as Wealth. After that you can withdraw

 

[bhushan0101]

2nd august points still pending even points for 5th august credited. Is there any need to raise complaint for 2nd august or it will credited after few days.

 

[Krishna Kumar]

2nd august points still pending even points for 5th august credited. Is there any need to raise complaint for 2nd august or it will credited after few days.

same here. call them on Monday.

 

[ashwinkashwink is verified member.]

The DC Reward Points system seriasly facing some issues at IDFC end even I'm not received any points since a month 😬

 

[Dreamer]

The DC Reward Points system seriasly facing some issues at IDFC end even I'm not received any points since a month 😬

Every time we have to call

 

[Indrajeet100]

I upgraded to wealth couple of months back and every single transaction, have to ask them manual credit. Seems new wealth dc doesn't even exist in their reward system.

 

[Dreamer]

I upgraded to wealth couple of months back and every single transaction, have to ask them manual credit. Seems new wealth dc doesn't even exist in their reward system.

Yeah facing the same issue. Let me know if anyone has any other solution.

 

[dipu_5]

Their systematic reward calculation and credit of points system is a mess. But when you complain, they do the proper calculation and do manual adjustment.

 

[BhaiyaJi]

Is there any limitations on points redemption?

 

[Krishna Kumar]

Is there any limitations on points redemption?

Yes. Maximum 20000 points can be redeemed in one go if you choose Amazon pay vouchers.

 

[Harry1]

Late to the party, but If I understand it correctly, idfc wealth will give 0.66% (4/150 points) return till 50K monthly spends and 2.5% (10/100 points) beyond 50K. And credit card payments via SBI unipay (4900 mcc) is not excluded here.

For redemption, cash is not available, but Amazon pay voucher is there. And 118 redemption charges.

Is this right?

 

[Dragon_slayer]

Late to the party, but If I understand it correctly, idfc wealth will give 0.66% (4/150 points) return till 50K monthly spends and 2.5% (10/100 points) beyond 50K. And credit card payments via SBI unipay (4900 mcc) is not excluded here.

For redemption, cash is not available, but Amazon pay voucher is there. And 118 redemption charges.

Is this right?

Yes . . .

 

[rakhi]

If I pay credit card bill using idfc select debit card in jio app Wil I get reward points?

 

[Anindya98]

If I pay credit card bill using idfc select debit card in jio app Wil I get reward points?

I paid yesterday let's see previously I was receiving RPs. But not used in July month. Used to pay my Axis bill.

 

[codenerd]

IDFC First Bank Wealth Debit Card-
Online- 0.67%
Offline- 0.50%
10X category- 2.5%
Incremental spends above Rs. 50,000: Online- 2.5%; Offline- 2.5%

If we compare the above calculation with Indusind Signature Debit Card where we get around 0.93% real cashback (not just reward rate percentage) on CC bill payment via debit card, is it correct to say that IDFC Wealth debit card is inferior with just 2.5/4 = 0.63% real cashback considering each point is 0.25 paise.

0.93% (Indusind) vs 0.63% (IDFC)

Any fault with my calculation?

I really need to clear this confusion in my head where I get confused which card to use for CC bill payment.

 

[Dragon_slayer]

I guess use IndusIND if you bills are generally below 50K per month. And use IDFC if you have big expenses.

I used to use Axis Burgundy DC before its devaluation, used to get 1% miles ~ 2% value in Accor

 

[BhaiyaJi]

IDFC First Bank Wealth Debit Card-
Online- 0.67%
Offline- 0.50%
10X category- 2.5%
Incremental spends above Rs. 50,000: Online- 2.5%; Offline- 2.5%

If we compare the above calculation with Indusind Signature Debit Card where we get around 0.93% real cashback (not just reward rate percentage) on CC bill payment via debit card, is it correct to say that IDFC Wealth debit card is inferior with just 2.5/4 = 0.63% real cashback considering each point is 0.25 paise.

0.93% (Indusind) vs 0.63% (IDFC)

Any fault with my calculation?

I really need to clear this confusion in my head where I get confused which card to use for CC bill payment.

Incremental spends above Rs. 50,000: Online- 2.5%; Offline- 2.5%
Here 2.5 is real return in form of vouchers, flights etc.

 

[SonyTom]

IDFC Wealth debit card is inferior with just 2.5/4 = 0.63% real cashback considering each point is 0.25 paise.

This calculation is incorrect.
It's 10rp per ₹100 spend above 50k.
1rp= 0.25
So actual reward in rupee terms is ₹2.5 (10/4) per ₹100 spend

 

[bigbyte]

Arindam bhai ka latest video ke calculation mei 3% return mil raha hai kyonki koi bug hai reward system mei.

Mujhe tau samajh nahin aaya, jisko samajh aaya wo loot lau.

Video dekho aur hamei bhi samjhaao.

 

[Tejaa]

To maximize the benefit we can pay upto 340K to get 30K RPs in a month right? Talking about select DC.