IDFC First Bank Launched its Debit Card Reward System

[prabanomics]

Platinum will get 13466

can you explain ?

 

[Andy1]

there is nothing mentioned about classic and platinum debit cards on website.

 

[Chaitanya-a]

View attachment 24178there is nothing mentioned about classic and platinum debit cards on website.

Regular card includes Classic, Platinum & Signature variants. So all these cards are eligible for Firstrewards program.
Only Rupay Firstap sticker isn't eligible.

 

[shenoyanil98]

I had a word with the rewards team they said within 7 working days and this doesn't include the transaction day

They are not true to their own words, today I called them to enquire why my wife has not got the points even after 7 working days and now they are saying there is some technical problems for the transactions done on the 18th. Can't trust them.

 

[mystic]

I think few policy makers from Axis have joined IDFC 🙂

If my understanding of the IDFC debit card reward system is correct , it is more rewarding to be a base member than privilege customer !

View attachment 24177

This calculation is not right in real world. This is where IDFC has played their word games.
10x RP is eligible only from incremental spends over 20k, meaning you get 10x points in spends which are after 20k.
So the above table is void. Also if your monthly spends is <20k you will never get 10x RP.

I confirmed this with 2 traces of CC payment. One with 10k and one with 21k. The 10k fetches 330pt and 21k fetches 280pt + 660pt (10x only on the spend after 20k total)

 

[prabanomics]

This calculation is not right in real world. This is where IDFC has played their word games.
10x RP is eligible only from incremental spends over 20k, meaning you get 10x points in spends which are after 20k.
So the above table is void. Also if your monthly spends is <20k you will never get 10x RP.

I confirmed this with 2 traces of CC payment. One with 10k and one with 21k. The 10k fetches 330pt and 21k fetches 280pt + 660pt (10x only on the spend after 20k total)

I had considered the 20k limit and other limits for each variant.. go through and let me know what is missing.. happy to be corrected 🙂
Any way the reward system is bad !

 

[codenerd]

I made a transaction of 1200 on RedBus app yesterday using Wealth Debit card. Will wait for points credit and will update the same on this group.

 

[cleverpappu]

can you explain ?

Actually idfc is crediting 2X till 20K and after that 2X + bonus (11X-2X=9X). This is for regular cards. I think their methodology is to give regular points till card variant threshold and after that 11X. Taking the example of wealth card they will give 4X till 1.5L and after that 4X + 7X bonus(11X-4X). Please make a table using this calculations and other members holding different variants of idfc debit cards please verify and comment how you are getting points for your transactions.

 

[Gohio]

Regular card includes Classic, Platinum & Signature variants. So all these cards are eligible for Firstrewards program.
Only Rupay Firstap sticker isn't eligible.

Are you sure classic card is getting the benefits?

 

[prabanomics]

Actually idfc is crediting 2X till 20K and after that 2X + bonus (11X-2X=9X). This is for regular cards. I think their methodology is to give regular points till card variant threshold and after that 11X. Taking the example of wealth card they will give 4X till 1.5L and after that 4X + 7X bonus(11X-4X). Please make a table using this calculations and other members holding different variants of idfc debit cards please verify and comment how you are getting points for your transactions.

11x is from your experience ? Not mentioned in website though.. if 11x.. find the table below

 

[Chaitanya-a]

These f**kers have introduced redemption fee of ₹99+GST now.

 

[funatlearn]

BTW friends, I am thinking of writing emails to the bank to reverse the current system. It seems the best card is the Platinum card and the worst card is Wealth/Private if we want to get the 10x reward points. IMO this is unfair.

Can folks here help drafting a good email and let's all send it?

In the same boat. Can email en mass

 

[Arun Pratheep]

Are you sure classic card is getting the benefits?

According to Nodal desk First rewards is applicable for all debit cards including classic debit card

 

[cleverpappu]

11x is from your experience ? Not mentioned in website though.. if 11x.. find the table below

View attachment 24197

Yes all my points got credited as per this 11x structure till now for regular card. Other members holding other variant please share your experience.

 

[cleverpappu]

These f**kers have introduced redemption fee of ₹99+GST now.

View attachment 24206

I have made 2-3 redemptions till now. No fee is charged till now. Maybe they charge later all at once.

 

[Chaitanya-a]

I have made 2-3 redemptions till now. No fee is charged till now. Maybe they charge later all at once.

They can't charge for past redemptions. This has been introduced just now. Not applicable as of now. Maybe in coming days.

 

[Chaitanya-a]

I was redeeming GV half via points and half via credit card. Points & money got cut but txn failed. Nothing is showing in redemption history for this txn. What to do in such case?

 

[cleverpappu]

I was redeeming GV half via points and half via credit card. Points & money got cut but txn failed. Nothing is showing in redemption history for this txn. What to do in such case?

Wait for refund

 

[gamersgzb]

These f**kers have introduced redemption fee of ₹99+GST now.

View attachment 24206

Just redeemed my welcome RPs right now and their was no redemption fees..

 

[Chaitanya-a]

Just redeemed my welcome RPs right now and their was no redemption fees..

Yeah currently this has not come into action. But since they've mentioned it now, this means they'll implement it soon.