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*

 

[Hemang]

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

bhai for offline jewellery purchase, how to go about buying vouchers ?

 

[ujjwal2024]

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.

What exactly is non spend benefits.?

 

[HumorSimpson]

For Jewellery Purchase -

1. HDFC Tata infinity - 1.5%

Is this working still ?

 

[Zacobite]

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

u will need to spend before.. yes u will be chgd normal spa rate at entry.. they wont let u in 🙂

 

[Zacobite]

bhai for offline jewellery purchase, how to go about buying vouchers ?

what cards u have? i used amex to buy reliance jewels vouchers few months ago.. if u have infinia / yes marquee u can buy on amazin also.. tanishq is available at places, kalyan is also there

 

[drsel]

u will need to spend before.. yes u will be chgd normal spa rate at entry.. they wont let u in 🙂

No I think they will charge you afterwards in the next statement.
This happened to me with ICICI

 

[Zacobite]

No I think they will charge you afterwards in the next statement.
This happened to me with ICICI

they scan code at spa that is generated via qr.. i have used it

 

[Hemang]

what cards u have?

Yhi hai bhai.
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 -

 

[drsel]

they scan code at spa that is generated via qr.. i have used it

In the case of ICICI, the spa ladies told my family it was free and later on I got billed 1440 after one month.

 

[Zacobite]

Yhi hai bhai.
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 -

amz will gve 5% right? buy vouchers there with 2 % discount

 

[Hemang]

amz will gve 5% right? buy vouchers there with 2 % discount

Bhai majorly I wanted to explore all the options of buying jewellery in offline mode and by offline I meant normal jewellery shops and not branded ones.

 

[Zacobite]

o

Bhai majorly I wanted to explore all the options of buying jewellery in offline mode and by offline I meant normal jewellery shops and not branded ones.

ok. good luck

 

[drsel]

amz will gve 5% right? buy vouchers there with 2 % discount

Kalyan jewellers and other branded jewellery shops will have very high making charges, much more than the 7% benefit you receive.
And I don't think the gift voucher is valid for buying gold coins with no making charges.

 

[Zacobite]

Kalyan jewellers and other branded jewellery shops will have very high making charges, much more than the 7% benefit you receive.
And I don't think the gift voucher is valid for buying gold coins with no making charges.

yes.. he was asking about jewelry not coins.. they will be expensive for sure as brands

 

[BVCBVC is verified member.]

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

On successful spends you’ll get a mail like this. If you haven’t spend you will get mail like this.



Coming to your question if you try to access there might be two options

1. They might deny entry
2. Or Charged entry.

 

[SonyTom]

Even after devaluation, this wealth CC seems to be a good option for offline spends in the range of 1 lakh.

As per previous posts in this thread, Reward rate for spends of 1 lakh is 1.43%.
This is for both offline and online (except rent, education, government spends and wallet loading)

 

[drsel]

View attachment 64809

On successful spends you’ll get a mail like this. If you haven’t spend you will get mail like this.

View attachment 64810

Coming to your question if you try to access there might be two options

1. They might deny entry
2. Or Charged entry.

I just called customer care and as a wealth customer I got connected instantly without going through IVR
he confirmed that Rs 20000 is allowed for every category including wallet load, gold and jewellery, rent, insurance, utilities, fuel, Government, education

 

[Hemang]

Even after devaluation, this wealth CC seems to be a good option for offline spends in the range of 1 lakh.

As per previous posts in this thread, Reward rate for spends of 1 lakh is 1.43%.
This is for both offline and online (except rent, education, government spends and wallet loading)

Kyu bhai 1 lac se upar spends karne pe offline mode pe, then also we get 1.6% around return na ?

 

[lightwaves]

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

Its the other way round. If you spend 20K this month, you can use these benefits for next month. Otherwise you need to pay and use.

 

[lightwaves]

Its the other way round. If you spend 20K this month, you can use these benefits for next month. Otherwise you need to pay and use.

You'll see something like this, if you haven't spent 20K in the previous month.



If you meet the spend criteria, you'll see something like this