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IDFC First Bank launched its debit card reward system

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IDFC First Bank launched its debit card reward system recently. Now you'll earn reward points for spending money using your IDFC First Bank debit card.
Reward portal link - https://www.firstrewards.com/

Screenshot_20230204_124537_Samsung Internet.jpg

Reward system for IDFC First Bank normal debit card-
2000 welcome reward points on IDFC First normal debit card transaction above Rs. 1000

Online transaction- earn 2 reward points for every Rs. 150 spend
Offline transaction- earn 1 reward point 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.

IDFC First Bank Select debit card reward system-
4000 welcome reward points on first debit card transaction above Rs. 1000
Online transaction- earn 3 reward points for every Rs. 150 spend
Offline transaction- earn 2 reward point for every Rs. 150 spend
10X reward points (10 reward points per Rs. 100) for every Rs. 100 spent via debit card on incremental spends above Rs. 50,000 in a month.

IDFC First Bank Wealth debit card reward system-
8000 welcome reward points on first debit card transaction above Rs. 1000
Online transaction- earn 4 reward points for every Rs. 150 spend
Offline transaction- earn 3 reward point for every Rs. 150 spend
10X reward points (10 reward points per Rs. 100) for every Rs. 100 spent via debit card on incremental spends above Rs. 50,000 in a month.

IDFC First Bank Private debit card reward system-
20,000 welcome reward points on first debit card transaction above Rs. 1000
Online transaction- earn 6 reward points for every Rs. 150 spend
Offline transaction- earn 4 reward point for every Rs. 150 spend
10X reward points (10 reward points per Rs. 100) for every Rs. 100 spent via debit card on incremental spends above Rs. 50,000 in a month.

Exclusions: Payment to Mutual Funds, Insurance, Financial Institutions, Security Brokers, Dealers, Wallet Uploads, Quasi Cash, ATM Withdrawals, Credit Card Payments and Account Transfers transactions are not a part of FIRST Rewards program, Please refer to the TnC page for specific Merchant Codes that are excluded.

1 reward point = Rs. 0.25

Note: You'll earn core reward points depending on your debit card variant, along with the 10X points.

A monthly reward point accrual capping will be applicable based on user’s program membership. (w.e.f. 1st December 2023)

Type of ProgramMonthly Point Capping
General8,000
Select30,000
Wealth50,000
Private5,00,000

How to redeem- You can redeem your reward points against gift vouchers, flight booking, recharge, etc.
Just click on "Redeem" and you'll see all the available options.
Link- https://www.firstrewards.com/user/burn

These are the excluded mcc's. You won't receive any reward points for spending on these categories.

Merchant CodesMerchant Categories
6300INSURANCE SALES AND UNDERWRITING
6012FINANCIAL INSTITUTIONS - MERCHANDISE & SERVICES
6211SECURITY BROKERS/DEALERS
6051QUASI CASH
6540WALLET UPLOAD

Reward Rate:-

IDFC First Bank Normal Debit Card-
Online- 0.33%
Offline- 0.17%
10X category- 1.67%
Incremental spends above Rs. 50,000: Online- 1.67%; Offline- 1.67%

IDFC First Bank Select Debit Card-
Online- 0.50%
Offline- 0.33%
10X category- 2.5%
Incremental spends above Rs. 50,000: Online- 2.5%; Offline- 2.5%

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%

IDFC First Bank Private Debit Card-
Online- 1%
Offline- 0.67%
10X category- 2.5%
Incremental spends above Rs. 50,000: Online- 2.5%; Offline- 2.5%

Update on 14th July: IDFC First Bank relaunched its debit card reward system on 14th July, 2023.
We've made the necessary changes in the article.

Update on 22 Dec, 2023: IDFC First Bank updated its debit card reward system on 1st Dec, 2023.
We've made the necessary changes in the article.
 
Last edited by Piyush_Jaiswal:
How long does Unipay actually take to credit the amount into the account? I have done the transaction on 08.12.2024, got the points in rewards portal as well but the amount isnt updated in my cc.
 
I'm thinking of paying partly with Wealth debit card for purchasing new car.

I had paid booking amount with Axis Bank Ace CC and found that MCC is 5511. Considering dealer is levying 1.3% extra, I'm hoping IDFC First Bank Wealth debit card would give reward points against this MCC.

Any thoughts? Please reply ASAP as I'll be doing this tomorrow morning only.
 
I'm thinking of paying partly with Wealth debit card for purchasing new car.

I had paid booking amount with Axis Bank Ace CC and found that MCC is 5511. Considering dealer is levying 1.3% extra, I'm hoping IDFC First Bank Wealth debit card would give reward points against this MCC.

Any thoughts? Please reply ASAP as I'll be doing this tomorrow morning only.
There is monthly limit on reward points you can earn.
 
I'm thinking of paying partly with Wealth debit card for purchasing new car.

I had paid booking amount with Axis Bank Ace CC and found that MCC is 5511. Considering dealer is levying 1.3% extra, I'm hoping IDFC First Bank Wealth debit card would give reward points against this MCC.

Any thoughts? Please reply ASAP as I'll be doing this tomorrow morning only.
how mch is the amount? and which cards u have? wealth will give u max 12,500 benefit for the amount of 5.5L swipe. But dealer will anyways charge u 7150 as fee. so benefit left would be 6400.
 
I'm thinking of paying partly with Wealth debit card for purchasing new car.

I had paid booking amount with Axis Bank Ace CC and found that MCC is 5511. Considering dealer is levying 1.3% extra, I'm hoping IDFC First Bank Wealth debit card would give reward points against this MCC.

Any thoughts? Please reply ASAP as I'll be doing this tomorrow morning only.
Charges for very less for debit cards, hardly 0.5% usually charged by machine. Try to negotiate more
 
I'm thinking of paying partly with Wealth debit card for purchasing new car.

I had paid booking amount with Axis Bank Ace CC and found that MCC is 5511. Considering dealer is levying 1.3% extra, I'm hoping IDFC First Bank Wealth debit card would give reward points against this MCC.

Any thoughts? Please reply ASAP as I'll be doing this tomorrow morning only.
It is more beneficial to pay via any rewarding CC then pay CC bill with IDFC Debit card.
 
Charges for very less for debit cards, hardly 0.5% usually charged by machine. Try to negotiate more
I did, they didn't listen. My target was to get them down to 0.5% or 1% in the worst case scenario but they came down to 1.5% from 2.25% and I ultimately convinced them for 1.3%
 
I did, they didn't listen. My target was to get them down to 0.5% or 1% in the worst case scenario but they came down to 1.5% from 2.25% and I ultimately convinced them for 1.3%

Tell them you are going to other dealers for free card swipe. Don't just bluff, actually go there. And they are doing this illegal work anyways as RBI rules say mercahnt has to pay the MDR discount not the customer.
 
Tell them you are going to other dealers for free card swipe. Don't just bluff, actually go there. And they are doing this illegal work anyways as RBI rules say mercahnt has to pay the MDR discount not the customer.
Even irctc don't bear the mdr cost.They charge surcharge on cc to recover that fee.
 
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