Devaluation IDFC Wealth Devaluation

[Shash]

Kindly note, some of the features and terms of your FIRST Wealth Credit Card will undergo changes with effect from 1st May 2024: Important update regarding your lifetime free FIRST Wealth Credit Card A lifetime free Credit Card loaded with benefits! Grab offers and discounts on your favourite brands every day of the week! EMIfy transactions and balances at low interest rates Enjoy Reward Points that are as good as cash, redeemable anywhere online Easily repay other bank’s outstanding dues and convert them to EMIs Always You First, IDFC FIRST Bank 1800 10 888 Click here to view updated MITC 1. Reward Points • Unlock 10X Reward Points fasterin a statement cycle on both online & offline spends above Rs. 20,000 • Reward points on online spends up to Rs. 20,000 in a statement cycle will be revised to 3X • Reward points on Education, Wallet load and Government services^ transactions will be revised to 3X. These transactions will no longer be part of 10X threshold calculation • 3X = 3 Reward Points per Rs. 150 spent 2. Buy one Get one movie offer • Will be revised up to Rs. 250 off twice per month 3. Complimentary visits to Airport Spas and Lounge • Total number of visits will continue to be 4 per quarter • Domestic airport lounges & spas visits will be capped to 2 per quarter • International airport lounges visits will be capped to 2 per quarter • Spend minimum Rs. 20,000 in a calendar month to activate lounge & spa benefits for next calendar month 4. Rent and Property Management Fee^ • 1% of transaction value will remain the same • It will be subject to a minimum of Rs. 249 per transaction 5. Fair usage on Utility Spends^ • 1X Reward Points on Utility spends will remain the same • 1% of transaction value will be levied as Utility fee on commercial usage • Commercial usage is defined as aggregate Utility spends > Rs.20,000 in a billing cycle o Illustration 1: Utility spends of Rs. 10,000 in a statement cycle will not attract a fee as it is below the threshold o Illustration 2: Utility spends of Rs. 30,000 in a statement cycle will attract a fee of Rs. 300 (1% fee) + taxes*

 

[lightwaves]

Thanks a lot mere bhai


Thanks a lot brother

Bohot bohot thank u.

Use it only if you have high spends, otherwise this card is useless.

 

[Hemang]

Use it only if you have high spends, otherwise this card is useless.

Matlab jab bhi offline spends karna ho 20k se jyada to ye card hume use karna chahiye. More beneficial than tata hdfc infinity cc. (1.5%).

 

[Hemang]

Matlab jab bhi offline spends karna ho 20k se jyada to ye card hume use karna chahiye. More beneficial than tata hdfc infinity cc. (1.5%).

For Jewellery Purchase -

1. HDFC Tata infinity - 1.5%
2. Amazon ICICI - 1%
3. Don't Use Any Axis Card - These transactions are excluded
4. AU Zenith - 1%
5. HDFC Millenia - 1% (Upto 1000 on spends of Rs 1,00,000.
6. IDFC Wealth - 1.66% after 20k spends in a month (10x Category)

 

[lightwaves]

Matlab jab bhi offline spends karna ho 20k se jyada to ye card hume use karna chahiye. More beneficial than tata hdfc infinity cc. (1.5%).

Yes. Its same for both online and offline spends.

 

[Hemang]

Yes. Its same for both online and offline spends.

Ha but we have other cards which gives us more than 1.66% on online spends bhai.
Vese to infinia bhi offline spends pe 3.66% deta hai but vo hai ni abhi mere pas to did not quote that.

 

[lightwaves]

Ha but we have other cards which gives us more than 1.66% on online spends bhai.
Vese to infinia bhi offline spends pe 3.66% deta hai but vo hai ni abhi mere pas to did not quote that.

I meant the reward rate is same for both online and offline seminar. If you have other cards, you can by all means avoid this card.

 

[drsel]

Remember that IDFC wealth redefined 1x as per 150 unlike 100 in the past.
For the first 20K you will get 3x be it online or offline , so effective CB in % = 100*3*0.25/150 = 0.5%
Later on its 10x and effective CB in % = 100*10*0.25/150 = 1.6%

Spend 20000, get 100 or 0.50%
Spend 50000, get 600 or 1.20%
Spend 1 lac, get 1433 or 1.43%
Spend 2 lacs, get 3100 or 1.55%
Spend 5 lacs, get 8100 or 1.62%

With such low returns you should not use it to get points. Use it for non spend benefits.

 

[Hemang]

Spend 20000, get 100 or 0.50%
Spend 50000, get 600 or 1.20%
Spend 1 lac, get 1433 or 1.43%
Spend 2 lacs, get 3100 or 1.55%
Spend 5 lacs, get 8100 or 1.62%

With such low returns you should not use it to get points. Use it for non spend benefits.

If we spend 21000, then only above 1000 over 20,000 is counted as 10x category and rest 20,000 is counted in which category?

 

[HumorSimpson]

Spend 20000, get 100 or 0.50%
Spend 50000, get 600 or 1.20%
Spend 1 lac, get 1433 or 1.43%
Spend 2 lacs, get 3100 or 1.55%
Spend 5 lacs, get 8100 or 1.62%

With such low returns you should not use it to get points. Use it for non spend benefits.

Yes I am aware. Currently this is the only non-prem card rewarding Jewellery.

 

[HumorSimpson]

If we spend 21000, then only above 1000 over 20,000 is counted as 10x category and rest 20,000 is counted in which category?

Below 20K -> 3x irrespective of online or offline.
Above 20K -> 10x irrespective of online or offline.

 

[Hemang]

Below 20K -> 3x irrespective of online or offline.
Above 20K -> 10x irrespective of online or offline.

Bhai above 20k to thik hai, but amount above 20k only would be counted as 10x or the whole amount of transaction.
For ex if I do 35k transaction, then 20k + 15k both would give 10x returns or only 15k which is above 20k will give 10x returns bhai ?

 

[HumorSimpson]

only 15k which is above 20k will give 10x returns bhai

This is correct.

 

[drsel]

Bhai above 20k to thik hai, but amount above 20k only would be counted as 10x or the whole amount of transaction.
For ex if I do 35k transaction, then 20k + 15k both would give 10x returns or only 15k which is above 20k will give 10x returns bhai ?

You will get 100 for 1st 20000 and 250 for the balance 15000. Total 350 for 35000 which is only 1% return.
Only 15k which is above 20k will give 10x returns

Spend 20000, get 100 or 0.50%
Spend 50000, get 600 or 1.20%
Spend 1 lac, get 1433 or 1.43%
Spend 2 lacs, get 3100 or 1.55%
Spend 5 lacs, get 8100 or 1.62%

 

[PRADYJAIN]

I HAVE SPENT 155000 ON MAKE MY TRIP WHAT WILL BE THE REWARD POINTS I WILL GET ON IT

 

[drsel]

Kindly note, some of the features and terms of your FIRST Wealth Credit Card will undergo changes with effect from 1st May 2024: Important update regarding your lifetime free FIRST Wealth Credit Card A lifetime free Credit Card loaded with benefits! Grab offers and discounts on your favourite brands every day of the week! EMIfy transactions and balances at low interest rates Enjoy Reward Points that are as good as cash, redeemable anywhere online Easily repay other bank’s outstanding dues and convert them to EMIs Always You First, IDFC FIRST Bank 1800 10 888 Click here to view updated MITC 1. Reward Points • Unlock 10X Reward Points fasterin a statement cycle on both online & offline spends above Rs. 20,000 • Reward points on online spends up to Rs. 20,000 in a statement cycle will be revised to 3X • Reward points on Education, Wallet load and Government services^ transactions will be revised to 3X. These transactions will no longer be part of 10X threshold calculation • 3X = 3 Reward Points per Rs. 150 spent 2. Buy one Get one movie offer • Will be revised up to Rs. 250 off twice per month 3. Complimentary visits to Airport Spas and Lounge • Total number of visits will continue to be 4 per quarter • Domestic airport lounges & spas visits will be capped to 2 per quarter • International airport lounges visits will be capped to 2 per quarter • Spend minimum Rs. 20,000 in a calendar month to activate lounge & spa benefits for next calendar month 4. Rent and Property Management Fee^ • 1% of transaction value will remain the same • It will be subject to a minimum of Rs. 249 per transaction 5. Fair usage on Utility Spends^ • 1X Reward Points on Utility spends will remain the same • 1% of transaction value will be levied as Utility fee on commercial usage • Commercial usage is defined as aggregate Utility spends > Rs.20,000 in a billing cycle o Illustration 1: Utility spends of Rs. 10,000 in a statement cycle will not attract a fee as it is below the threshold o Illustration 2: Utility spends of Rs. 30,000 in a statement cycle will attract a fee of Rs. 300 (1% fee) + taxes*

Is the 20000 spend requirement for two domestic Spa or lounge access valid for any and every MCC code?

 

[HumorSimpson]

I HAVE SPENT 155000 ON MAKE MY TRIP WHAT WILL BE THE REWARD POINTS I WILL GET ON IT

For the first 20k it's 3x and 10x later on. Approximately 1.6% in terms of cash.

 

[BVCBVC is verified member.]

Is the 20000 spend requirement for two domestic Spa or lounge access valid for any and every MCC code?

There is no exclusions I guess. I have not got any exclusion list. Only cash withdrawal is not considered I guess.

 

[Zacobite]

For Jewellery Purchase -

1. HDFC Tata infinity - 1.5%
2. Amazon ICICI - 1%
3. Don't Use Any Axis Card - These transactions are excluded
4. AU Zenith - 1%
5. HDFC Millenia - 1%
6. IDFC Wealth - 1.66% after 20k spends in a month (10x Category)

buy vouchers and use.. amex / smartbuy others.. discount + points

 

[drsel]

There is no exclusions I guess. I have not got any exclusion list. Only cash withdrawal is not considered I guess.

What if you use the domestic lounge or spa and forget to spend 20000.
will there be a charge?

 

[drsel]

I HAVE SPENT 155000 ON MAKE MY TRIP WHAT WILL BE THE REWARD POINTS I WILL GET ON IT

You will get points worth rupees 2350, @ 1.5161%