Reward rate of IDFC FIRST CCs

[anonymuos]

So today I sat down and calculated IDFC FIRST credit cards reward rate (RR) on ONLINE spends: (Millennia/Classic/Select/Wealth):

Like their debit card rewards program introduced much later, the reward structure on CCs also is such that the more you spend, the reward rate increases

Millennia/Classic: 6X RPs on online up to ₹20K, 10X but only above ₹20K, 1RP per ₹150 spent
Select: 6X RPs on online up to ₹25K, 10X but only above ₹25K, 1RP per ₹125 spent
Wealth: 6X RPs on online up to ₹30K, 10X but only above ₹30K, 1RP per ₹100 spent

1 reward point = ₹0.25

So:
Millennia/Classic: On spending ₹20K, you get 800 points (6X). Between ₹20K to ₹25K, you get 200 points (1000 total up to ₹25K), Reward Rate is 1% upto ₹20K
Select: On spending ₹25K, you get 1200 points (6X). Reward rate is 1.2% up to ₹25K
Wealth: On spending ₹30K, you get 1800 points (6X). Reward rate is 1.5% up to ₹30K

10X Reward Points example 1 for a big amount e.g. suppose you buy a ₹80000 laptop:
‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾
On Classic: you will get 4000 points above ₹20K + 800 points = 4800 points = ₹1200 (total 1.5% RR) if spending ₹80,000
On Select: you will get 4400 points above ₹25K + 1200 points = 5600 points = ₹1400 (1.75% RR) if spending ₹80,000
On Wealth: you will get 5000 points above ₹30K + 1800 points = 6800 points = ₹1700 (2.1% RR) if spending ₹80,000


10X Reward Points example 2 for a big amount e.g. some international air tickets for 2, including return (if spending ₹168,700, just for example):
‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾
On Classic: you will get 9913 points above ₹20K + 800 points = 10713 points = ₹2678 (total 1.58% RR) if spending ₹168,700
On Select: you will get 11496 points above ₹25K + 1200 points = 12696 points = ₹3174 (1.88% RR Correction: 2% RR) if spending ₹168,700
On Wealth: you will get 13870 points above ₹30K + 1800 points = 15670 points = ₹3917.5 (2.32% RR) if spending ₹168,700

And of course there's ₹99+GST=₹118 reward redemption fee every time you redeem the points

 

[niks]

With this reward structure and because of other cards with better rewards, I have been least motivated to spend even Rs. 5000 each month on my IDFC First Wealth card to activate the Lounge access for next month 😒

 

[KLB@96]

Hey, I just made 30244 rupees for flight ticket on gotogate site using wealth card. this trx eligible for RP right ?

update : received RP for the above trx.

 

[anonymuos]

Do IDFC CCs still give RPs on loading wallet e.g. PayZapp? Also the ₹500 welcome voucher is given on loading 15K to wallet?

 

[shutapdiya]

Do IDFC CCs still give RPs on loading wallet e.g. PayZapp? Also the ₹500 welcome voucher is given on loading 15K to wallet?

Yes it does

 

[22sumit]

I paid my 1.25L cc bill via snapay using IDFC Select CC but got only approx 1k points

 

[KLB@96]

I paid my 1.25L cc bill via snapay using IDFC Select CC but got only approx 1k points

what paid CC bill using IDFC CC ?

 

[22sumit]

what paid CC bill using IDFC CC ?

Obviously txn charges were there ~1.25 % but the IDFC 10x RPs would hv balanced that.

 

[Tocoliso]

How to fix this using cc??

 

[anony]

what paid CC bill using IDFC CC ?

How did you pay CC bills using CC in Snapay?

 

[Abhi2004]

I paid my 1.25L cc bill via snapay using IDFC Select CC but got only approx 1k points

Snapay transaction comes under utility mcc . So it wouldn’t fetch rp after recent devaluation in IDFC cards

 

[rahulg]

What would be the best way to redeem IDFC CC reward points. Redeem while making a transaction or buying a gift voucher? Please suggest a way in which i do not have to incur any charges on redemption.

 

[varun__goel_]

What would be the best way to redeem IDFC CC reward points. Redeem as cash in statement or take a gift voucher?

Whatever you like, reward rate will remain the same.

 

[rahulg]

Whatever you like, reward rate will remain the same.

any redemption charges? I have IDFC Milennia

 

[varun__goel_]

any redemption charges? I have IDFC Milennia

99 + gst

 

[rahulg]

99 + gst

is there any way in which this fee can be avoided? In SBI even though they mention a redemption fee while purchasing gift voucher there is nothing charged!

 

[varun__goel_]

is there any way in which this fee can be avoided? In SBI even though they mention a redemption fee while purchasing gift voucher there is nothing charged!

No idea brother. Haven't redeemed till date. The points are just getting stacked up.

 

[CardGame]

is there any way in which this fee can be avoided? In SBI even though they mention a redemption fee while purchasing gift voucher there is nothing charged!

No way unless you stop redeeming every now and then and accumulate a lot and redeem in one go every 1 or 2 years.

 

[lightwaves]

So today I sat down and calculated IDFC FIRST credit cards reward rate (RR) on ONLINE spends: (Millennia/Classic/Select/Wealth):

Like their debit card rewards program introduced much later, the reward structure on CCs also is such that the more you spend, the reward rate increases

Millennia/Classic: 6X RPs on online up to ₹20K, 10X but only above ₹20K, 1RP per ₹150 spent
Select: 6X RPs on online up to ₹25K, 10X but only above ₹25K, 1RP per ₹125 spent
Wealth: 6X RPs on online up to ₹30K, 10X but only above ₹30K, 1RP per ₹100 spent

1 reward point = ₹0.25

So:
Millennia/Classic: On spending ₹20K, you get 800 points (6X). Between ₹20K to ₹25K, you get 200 points (1000 total up to ₹25K), Reward Rate is 1% upto ₹20K
Select: On spending ₹25K, you get 1200 points (6X). Reward rate is 1.2% up to ₹25K
Wealth: On spending ₹30K, you get 1800 points (6X). Reward rate is 1.5% up to ₹30K

10X Reward Points example 1 for a big amount e.g. suppose you buy a ₹80000 laptop:
‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾
On Classic: you will get 4000 points above ₹20K + 800 points = 4800 points = ₹1200 (total 1.5% RR) if spending ₹80,000
On Select: you will get 4400 points above ₹25K + 1200 points = 5600 points = ₹1400 (1.75% RR) if spending ₹80,000
On Wealth: you will get 5000 points above ₹30K + 1800 points = 6800 points = ₹1700 (2.1% RR) if spending ₹80,000


10X Reward Points example 2 for a big amount e.g. some international air tickets for 2, including return (if spending ₹168,700, just for example):
‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾
On Classic: you will get 9913 points above ₹20K + 800 points = 10713 points = ₹2678 (total 1.58% RR) if spending ₹168,700
On Select: you will get 11496 points above ₹25K + 1200 points = 12696 points = ₹3174 (1.88% RR) if spending ₹168,700
On Wealth: you will get 13870 points above ₹30K + 1800 points = 15670 points = ₹3917.5 (2.32% RR) if spending ₹168,700

And of course there's ₹99+GST=₹118 reward redemption fee every time you redeem the points

Is 10x reward rate applicable for NPS contributions also? Lets say, If I make a 50k NPS contribution using Wealth CC, ideally I should get 1800 + 2000 = 3800 RPs right? And, by when do the RPs get credited? TIA.

 

[HumorSimpson]

Is 10x reward rate applicable for NPS contributions also? Lets say, If I make a 50k NPS contribution using Wealth CC, ideally I should get 1800 + 2000 = 3800 RPs right? And, by when do the RPs get credited? TIA.

Yes. As of now IDFC Wealth CC considers govt txns as online txns.