IDFC First SELECT Credit Card Latest update

[MudraMantra]

So, here comes another update — the IDFC First SELECT Credit Card has seen changes in its benefits.

Honestly, it feels like every bank is in the mood to reduce credit card perks these days. What used to be attractive reward structures and lifestyle benefits are slowly being trimmed down, leaving many of us wondering if premium cards are still worth holding.

👉 What’s your take on this trend?

• Do you feel banks are cutting back too aggressively?
• Are you planning to downgrade, switch, or stick with your current cards despite the reduced benefits?
• Which cards do you think still offer real value in today’s environment?

Let’s hear your thoughts — it’ll help all of us decide how to navigate these changes.

 

[Aniket Sharma]

So, here comes another update — the IDFC First SELECT Credit Card has seen changes in its benefits.

Honestly, it feels like every bank is in the mood to reduce credit card perks these days. What used to be attractive reward structures and lifestyle benefits are slowly being trimmed down, leaving many of us wondering if premium cards are still worth holding.

👉 What’s your take on this trend?

• Do you feel banks are cutting back too aggressively?
• Are you planning to downgrade, switch, or stick with your current cards despite the reduced benefits?
• Which cards do you think still offer real value in today’s environment?

Let’s hear your thoughts — it’ll help all of us decide how to navigate these changes.

It's been a year, i closed this card and now after viewing this, happy for my decision that I took last year.

 

[hellowo₹ld]

for those who still using this card (even though its dead 3 years ago):

with new changes

below 20k spends = 0.375%
above 20k spends = 1.25%

apprx. 50k monthly spends = 0.9% (yes, its under 1%)

there are lot of exclusion categories for 10x rewards, so cumulative reward return even less.

33% bonus points = for 50k spends, 1.12% net

// TLDR; Apply either sbi cashback, phonepe select, hdfc millennia or swiggy etc. lot of better cards.

 

[NUKE]

I upgraded from Classic to Wealth, and so far, apart from the BOGO offer, this card has been of no use and is just sitting in my drawer. I only take it out for BOGO transactions; otherwise, the card is useless.

 

[Aniket Sharma]

I upgraded from Classic to Wealth, and so far, apart from the BOGO offer, this card has been of no use and is just sitting in my drawer. I only take it out for BOGO transactions; otherwise, the card is useless.

Wait for bogo end like icici

 

[NUKE]

Wait for bogo end like icici

True...they have already devalued it from ₹500 to ₹250 & in few months it will be completely gone as well

 

[smuff]

Same Devaluation applies to wealth cc as well. Domestic/international lounge/golf 1/qtr only aftr 20k monthly spend.
Surprisingly railway lounge access was not mentioned.

https://www.idfcfirst.bank.in/content/dam/idfcfirstbank/pdf/credit-card/Wealth-1-Credit-Card.pdf

 

[Aniket Sharma]

Same Devaluation applies to wealth cc as well. Domestic/international lounge/golf 1/qtr only aftr 20k monthly spend.
Surprisingly railway lounge access was not mentioned.

https://www.idfcfirst.bank.in/content/dam/idfcfirstbank/pdf/credit-card/Wealth-1-Credit-Card.pdf

Same rewards bro

 

[mj01]

Honestly, it feels like every bank is in the mood to reduce credit card perks these days. What used to be attractive reward structures and lifestyle benefits are slowly being trimmed down, leaving many of us wondering if premium cards are still worth holding.

I think it has more to do with LTF cards. Banks want you to pay for benefits. LTF cards are just lying in people's drawers for very specific use cases and don't serve any purpose for banks.

 

[hellowo₹ld]

Things that IDFC proud about and their actual meaning...

• 10X Reward Points on spends above ₹20,000 per month

its just 1%, currently market has 5% cards.

• Reward Points that never expire, unlike the industry practice of 1–3 years

but who spends for <1% to earn that many points. those few limited points meant to keep forever.

• Low Forex Markup of 1.5% (vs. typical 3–3.5% in the market)

still net reward negative and market has >0% return for forex spends.

• Trip Cancellation Cover up to ₹10,000

u need to book for low reward rate, compare that book using 5% cards and use that to purchase even more higher cover.

• Zero Interest on ATM Cash Withdrawals (only a withdrawal fee of ₹199 applicable)

its for every 10k and cumulatively 2.36% charges.

 

[HumorSimpson]

I upgraded from Classic to Wealth, and so far, apart from the BOGO offer, this card has been of no use and is just sitting in my drawer. I only take it out for BOGO transactions; otherwise, the card is useless.

Same here. The moment they mess with bogo, I will close my wealth cc even if it's Ltf.

 

[Lorddiesel]

True...they have already devalued it from ₹500 to ₹250 & in few months it will be completely gone as well

Indian Devaluation and F$$k Company.

 

[ranjanpr17]

Same Devaluation applies to wealth cc as well. Domestic/international lounge/golf 1/qtr only aftr 20k monthly spend.
Surprisingly railway lounge access was not mentioned.

https://www.idfcfirst.bank.in/content/dam/idfcfirstbank/pdf/credit-card/Wealth-1-Credit-Card.pdf

I think they removed railway lounges. I could not use it recently at Chennai using IDFC wealth cc. Not sure if spend criteria is for cc as well?

 

[✪ D&C Cards Connoisseur 💳]

I think they removed railway lounges. I could not use it recently at Chennai using IDFC wealth cc. Not sure if spend criteria is for cc as well?

Have you met the spend criteria for railway lounge access by spending 20k (same criteria for both Select & Wealth) and still couldn't access? This spend based devaluation was done long back.

 

[ranjanpr17]

Have you met the spend criteria for railway lounge access by spending 20k (same criteria for both Select & Wealth) and still couldn't access? This spend based devaluation was done long back.

View attachment 116481

I know this, however was able to use railway lounge without spends as recently as in Oct. Not anymore. Not worth the hassle to keep spending only for railways lounge worth 200 rs.

 

[✪ D&C Cards Connoisseur 💳]

I know this, however was able to use railway lounge without spends as recently as in Oct. Not anymore. Not worth the hassle to keep spending only for railways lounge worth 200 rs.

Hearing this first time that you were able to use some benefit after spend based criteria was implemented. You could have bought Dear lottery and win 1CR that time 😉 😉
Jokes apart, use other CC for rail lounge. ICICI Coral, Rubyx, MMT, AU Xcite/Vetta/Zenith/Ixigo, HDFC/RBL/SBI IRCTC, etc are to name a few.

 

[ranjanpr17]

Hearing this first time that you were able to use some benefit after spend based criteria was implemented. You could have bought Dear lottery and win 1CR that time 😉 😉
Jokes apart, use other CC for rail lounge. ICICI Coral, Rubyx, MMT, AU Xcite/Vetta/Zenith/Ixigo, HDFC/RBL/SBI IRCTC, etc are to name a few.

Yeah should have. Only realized after lounge guy politely declined the card.

Thanks for the card suggestions. AU cards have spend based criteria too for railway lounges?

 

[✪ D&C Cards Connoisseur 💳]

Yeah should have. Only realized after lounge guy politely declined the card.

Thanks for the card suggestions. AU cards have spend based criteria too for railway lounges?

No, all I mentioned doesn't have any spend based criteria. ICICI Rubyx, all mentioned AU / HDFC / RBL / SBI IRCTC Premier has 2 lounge access/quarter

 

[ranjanpr17]

No, all I mentioned doesn't have any spend based criteria. ICICI Rubyx, all mentioned AU, HDFC, RBL, SBI Premier has 2 lounge access/quarter

Thanks. Will give a try.