higher charges for IDFC DC rewards redemption

[card_007]

IDFC First Rewards (for DC) is further devaluaed now. You cannot redeem more than 9866 points in one transaction which means you need to also pay Rs 34 for each 2.5K voucher in addition to Rs 117 fee + GST. Also, I was not allowed to do more than one redemption after the first one so I will keep on checking whether this is per day/week/month limit. However, IDFC is crazily devaluing everything ever since their stock took a beating after Q4 results. At this trajectory, they might make it even worse in coming weeks! So, rush and redeem now.

Even the preferred forex rate I got for Private relationship was withdrawn then! Good that I redeemed my 1 lac+ points a couple of weeks ago when the limit was 20k points per transaction and I could see the dark horizon ahead (also disclosed in IDFC thread)!

 

[Hell_Kitty]

IDFC First Rewards (for DC) is further devaluaed now. You cannot redeem more than 9866 points in one transaction which means you need to also pay Rs 34 for each 2.5K voucher in addition to Rs 117 fee + GST. Also, I was not allowed to do more than one redemption after the first one so I will keep on checking whether this is per day/week/month limit. However, IDFC is crazily devaluing everything ever since their stock took a beating after Q4 results. At this trajectory, they might make it even worse in coming weeks! So, rush and redeem now.

Even the preferred forex rate I got for Private relationship was withdrawn then! Good that I redeemed my 1 lac+ points a couple of weeks ago when the limit was 20k points per transaction and I could see the dark horizon ahead (also disclosed in IDFC thread)!

I am planning to park my funds for IDFC First Private mainly for CC and DC benefits. Will it be worth or should I consider other alternatives such as Indusind Pioneer, SC Priority Banking or Yes Bank Grandeur?

 

[HumorSimpson]

Thanks now, no DC or CC for tax payments

 

[Hell_Kitty]

Thanks now, no DC or CC for tax payments

Didn't get. What did you mean?

 

[Vasuki]

I am planning to park my funds for IDFC First Private mainly for CC and DC benefits. Will it be worth or should I consider other alternatives such as Indusind Pioneer, SC Priority Banking or Yes Bank Grandeur?

10-15 k toh direct fyda hai bro
Idfc private me

 

[HumorSimpson]

Didn't get. What did you mean?

IDFC cc and DC gave rewards for tax portals. cc already stopped it. Now with this DC too gone

 

[Hell_Kitty]

10-15 k toh direct fyda hai bro
Idfc private me

whi socha hai maine bhi. For now I have opened 25K AMB Savings account and using it for last 2-3 months. So far, the experience with Mobile and Net banking has been good. For Private status can the initial amount be negotiated with the bank? or it is gradual upgrade based on AM/Q/B

 

[Vasuki]

whi socha hai maine bhi. For now I have opened 25K AMB Savings account and using it for last 2-3 months. So far, the experience with Mobile and Net banking has been good. For Private status can the initial amount be negotiated with the bank? or it is gradual upgrade based on AM/Q/B

For private u need
To have idfc wealth then
Add funds to make it to private lvl mab
Which city u r from

 

[HumorSimpson]

@vaibhav111 can you check if it is devalued ?

 

[TheTrickySid]

@vaibhav111 can you check if it is devalued ?

Devalued in the sense that they have removed 1k denomination voucher
500 and 250 is the denomination available.

Hoping this is temporary.

 

[SureShot]

@vaibhav111 can you check if it is devalued ?

yes only 250 & 500 amazon gift vouchers available, let’s see whether it’s due to 1000 denomination stock unavailability, fingers crossed

 

[Hell_Kitty]

For private u need
To have idfc wealth then
Add funds to make it to private lvl mab
Which city u r from

I'm from Bengaluru

 

[vaibhav111vaibhav111 is verified member.]

@vaibhav111 can you check if it is devalued ?

I can redeemed 10k point cause cause singe trnx only 5 gv can be be brought so it the same as before. Untill 1k is available I can’t test for more than 10k redemption.

 

[vaibhav111vaibhav111 is verified member.]

IDFC First Rewards (for DC) is further devaluaed now. You cannot redeem more than 9866 points in one transaction which means you need to also pay Rs 34 for each 2.5K voucher in addition to Rs 117 fee + GST. Also, I was not allowed to do more than one redemption after the first one so I will keep on checking whether this is per day/week/month limit. However, IDFC is crazily devaluing everything ever since their stock took a beating after Q4 results. At this trajectory, they might make it even worse in coming weeks! So, rush and redeem now.

Even the preferred forex rate I got for Private relationship was withdrawn then! Good that I redeemed my 1 lac+ points a couple of weeks ago when the limit was 20k points per transaction and I could see the dark horizon ahead (also disclosed in IDFC thread)!

Pls share ss of the limitations!

 

[HumorSimpson]

I can redeemed 10k point cause cause singe trnx only 5 gv can be be brought so it the same as before. Untill 1k is available I can’t test for more than 10k redemption.View attachment 68940

Don't get it

 

[PKMKB]

I can redeemed 10k point cause cause singe trnx only 5 gv can be be brought so it the same as before. Untill 1k is available I can’t test for more than 10k redemption.View attachment 68940

This is what OP means by devaluation. They have removed ₹1000 denomination vouchers for Flipkart and Amazon Pay. I don't think they have run out of vouchers. They have purposefully removed them.

 

[vaibhav111vaibhav111 is verified member.]

This is what OP means by devaluation. They have removed ₹1000 denomination vouchers for Flipkart and Amazon Pay. I don't think they have run out of vouchers. They have purposefully removed them.

Nah it been not there for some months it comes n go. I personally redeemed for 500 x 4/5 cause 1k wasn't available.

 

[PKMKB]

Nah it been not there for some months it comes n go. I personally redeemed for 500 x 4/5 cause 1k wasn't available.

Cool. I hope they bring 1K back!! I've got 60K points to redeem

 

[card_007]

You need to start with what they say is minimum to start and then you can lower a little after conversion. But the way IDFC is behaving they might just purge all this!

whi socha hai maine bhi. For now I have opened 25K AMB Savings account and using it for last 2-3 months. So far, the experience with Mobile and Net banking has been good. For Private status can the initial amount be negotiated with the bank? or it is gradual upgrade based on AM/Q/B

Devaluation is what I mentioned, maximum points that can be redeemed is 9966 in one transaction, rest to be paid via IDFC CC or netbanking. It was not allowing me to redeem more points today, I need to check when it opens up the redemption again for me!!

Devalued in the sense that they have removed 1k denomination voucher
500 and 250 is the denomination available.

Hoping this is temporary.

It is not about denomination, it is applicable even for brands with higher denomination!

yes only 250 & 500 amazon gift vouchers available, let’s see whether it’s due to 1000 denomination stock unavailability, fingers crossed

No hope with IDFC!

Cool. I hope they bring 1K back!! I've got 60K points to redeem

 

[vaibhav111vaibhav111 is verified member.]

You need to start with what they say is minimum to start and then you can lower a little after conversion. But the way IDFC is behaving they might just purge all this!

Devaluation is what I mentioned, maximum points that can be redeemed is 9966 in one transaction, rest to be paid via IDFC CC or netbanking. It was not allowing me to redeem more points today, I need to check when it opens up the redemption again for me!!

It is not about denomination, it is applicable even for brands with higher denomination!

No hope with IDFC!

That isn't the case for me, have uploaded ss already, Baskin Robin 1k vouchers is there x 5. I could redeem too it just I have 14k point only so it needed cc details. No it could temporary restrictions or something.