anonymuos
TF Ace
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
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
