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Using IDFC Wealth CC doesn’t makes sense now

cc_dc_explorer

cc_dc_explorer

TF Premier
I was upgraded to IDFC Wealth CC recently and was going through features and benefits. It hit me hard when I compiled it as it now appears after devaluation it doesn’t makes sense for us to use IDFC variants of Credit Cards including Wealth.

I majorly wanted this card for SPA access but it seems these all now requires a minimum spend of 20k/month to be eligible for next quarter use 🙁 . If we see it only has a reward rate of 0.5 Rupees per 100 spent on card NOW. It certainly doesn’t deserve for those who are maintaining high balance in Wealth Savings Account for this card. If you got LTF without IDFC wealth account then you can keep it. But still doing transactions on this card doesn’t make sense to me.

Guys let me know if there are good SPA access cards without fee or minimum fee.

I am listing updated benefits below.


BENEFITS
  • No Annual/Joining Fees
  • 2 Domestic Airport Lounge Access / Quarter ⇒ 8 visit (20k spends MONTHLY)
  • 2 International Airport Lounge Access / Quarter ⇒ 8 visit (20k spends MONTHLY)
  • 2 Spa / Quarter ⇒ 8 visits (20k spends MONTHLY)
  • 2 Golf rounds /month ⇒ 24 visits (20k spends MONTHLY)
  • 4 complimentary Railway lounge / Quarter ⇒ 16 visits
  • 3x rewards points till 20k
  • B1G1 Paytm movie offer upto 250

⇒ 1X = 1 Reward Point per ₹150 spent | 1 Reward point = ₹0.25
⇒ 3x = 3 RP/₹150 spent = .75 ₹
⇒ RP/100 ⇒ 0.5 ₹


After 20k
⇒ 10x = 10 RP/ 150 spent = 2.5 ₹
⇒ RP/100 ⇒ 1.6 ₹


Categories not included in the 10X Reward Points threshold: Rental & Property Management, Utility, Insurance, Government Services, Education and Wallet Load.
Reward Points program not applicable on fuel, EMI transactions, & cash withdrawals.
Reward redemption will attract a small convenience charge of ₹99 (+ applicable taxes) per redemption.
 
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er3shivam said:
I was upgraded to IDFC Wealth CC recently and was going through features and benefits. It hit me hard when I compiled it as it now appears after devaluation it doesn’t makes sense for us to use IDFC variants of Credit Cards including Wealth.

I majorly wanted this card for SPA access but it seems these all now requires a minimum spend of 20k/month to be eligible for next quarter use 🙁 . If we see it only has a reward rate of 0.5 Rupees per 100 spent on card NOW. It certainly doesn’t deserve for those who are maintaining high balance in Wealth Savings Account for this card. If you got LTF without IDFC wealth account then you can keep it. But still doing transactions on this card doesn’t make sense to me.

Guys let me know if there are good SPA access cards without fee or minimum fee.

I am listing updated benefits below.


BENEFITS
  • No Annual/Joining Fees
  • 2 Domestic Airport Lounge Access / Quarter ⇒ 8 visit (20k spends MONTHLY)
  • 2 International Airport Lounge Access / Quarter ⇒ 8 visit (20k spends MONTHLY)
  • 2 Spa / Quarter ⇒ 8 visits (20k spends MONTHLY)
  • 2 Golf rounds /month ⇒ 24 visits (20k spends MONTHLY)
  • 4 complimentary Railway lounge / Quarter ⇒ 16 visits
  • 3x rewards points till 20k
  • B1G1 Paytm movie offer upto 250

⇒ 1X = 1 Reward Point per ₹150 spent | 1 Reward point = ₹0.25
⇒ 3x = 3 RP/₹150 spent = .75 ₹
⇒ RP/100 ⇒ 0.5 ₹


After 20k
⇒ 10x = 10 RP/ 150 spent = 2.5 ₹
⇒ RP/100 ⇒ 1.6 ₹


Categories not included in the 10X Reward Points threshold: Rental & Property Management, Utility, Insurance, Government Services, Education and Wallet Load.
Reward Points program not applicable on fuel, EMI transactions, & cash withdrawals.
Reward redemption will attract a small convenience charge of ₹99 (+ applicable taxes) per redemption.
Click to expand...
check out this one

www.technofino.in

Devaluation - IDFC Wealth Devaluation

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...
www.technofino.in www.technofino.in
 
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er3shivam said:
I was upgraded to IDFC Wealth CC recently and was going through features and benefits. It hit me hard when I compiled it as it now appears after devaluation it doesn’t makes sense for us to use IDFC variants of Credit Cards including Wealth.

I majorly wanted this card for SPA access but it seems these all now requires a minimum spend of 20k/month to be eligible for next quarter use 🙁 . If we see it only has a reward rate of 0.5 Rupees per 100 spent on card NOW. It certainly doesn’t deserve for those who are maintaining high balance in Wealth Savings Account for this card. If you got LTF without IDFC wealth account then you can keep it. But still doing transactions on this card doesn’t make sense to me.

Guys let me know if there are good SPA access cards without fee or minimum fee.

I am listing updated benefits below.


BENEFITS
  • No Annual/Joining Fees
  • 2 Domestic Airport Lounge Access / Quarter ⇒ 8 visit (20k spends MONTHLY)
  • 2 International Airport Lounge Access / Quarter ⇒ 8 visit (20k spends MONTHLY)
  • 2 Spa / Quarter ⇒ 8 visits (20k spends MONTHLY)
  • 2 Golf rounds /month ⇒ 24 visits (20k spends MONTHLY)
  • 4 complimentary Railway lounge / Quarter ⇒ 16 visits
  • 3x rewards points till 20k
  • B1G1 Paytm movie offer upto 250

⇒ 1X = 1 Reward Point per ₹150 spent | 1 Reward point = ₹0.25
⇒ 3x = 3 RP/₹150 spent = .75 ₹
⇒ RP/100 ⇒ 0.5 ₹


After 20k
⇒ 10x = 10 RP/ 150 spent = 2.5 ₹
⇒ RP/100 ⇒ 1.6 ₹


Categories not included in the 10X Reward Points threshold: Rental & Property Management, Utility, Insurance, Government Services, Education and Wallet Load.
Reward Points program not applicable on fuel, EMI transactions, & cash withdrawals.
Reward redemption will attract a small convenience charge of ₹99 (+ applicable taxes) per redemption.
Click to expand...
Yes correct, IDFC wealth CC lost its shine.. not at all preferred for any spending for significant amounts
 
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er3shivam said:
I was upgraded to IDFC Wealth CC recently and was going through features and benefits. It hit me hard when I compiled it as it now appears after devaluation it doesn’t makes sense for us to use IDFC variants of Credit Cards including Wealth.

I majorly wanted this card for SPA access but it seems these all now requires a minimum spend of 20k/month to be eligible for next quarter use 🙁 . If we see it only has a reward rate of 0.5 Rupees per 100 spent on card NOW. It certainly doesn’t deserve for those who are maintaining high balance in Wealth Savings Account for this card. If you got LTF without IDFC wealth account then you can keep it. But still doing transactions on this card doesn’t make sense to me.

Guys let me know if there are good SPA access cards without fee or minimum fee.

I am listing updated benefits below.


BENEFITS
  • No Annual/Joining Fees
  • 2 Domestic Airport Lounge Access / Quarter ⇒ 8 visit (20k spends MONTHLY)
  • 2 International Airport Lounge Access / Quarter ⇒ 8 visit (20k spends MONTHLY)
  • 2 Spa / Quarter ⇒ 8 visits (20k spends MONTHLY)
  • 2 Golf rounds /month ⇒ 24 visits (20k spends MONTHLY)
  • 4 complimentary Railway lounge / Quarter ⇒ 16 visits
  • 3x rewards points till 20k
  • B1G1 Paytm movie offer upto 250

⇒ 1X = 1 Reward Point per ₹150 spent | 1 Reward point = ₹0.25
⇒ 3x = 3 RP/₹150 spent = .75 ₹
⇒ RP/100 ⇒ 0.5 ₹


After 20k
⇒ 10x = 10 RP/ 150 spent = 2.5 ₹
⇒ RP/100 ⇒ 1.6 ₹


Categories not included in the 10X Reward Points threshold: Rental & Property Management, Utility, Insurance, Government Services, Education and Wallet Load.
Reward Points program not applicable on fuel, EMI transactions, & cash withdrawals.
Reward redemption will attract a small convenience charge of ₹99 (+ applicable taxes) per redemption.
Click to expand...
Agree, thinking to close it myself. Pros: Its taking up a portion of my total credit limit and some space in excel/notes.
Cons: Does however have visa infinity and associated benefits (roadside assistance etc) and possibility of future offers from idfc.
 
Last edited:
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er3shivam said:
I was upgraded to IDFC Wealth CC recently and was going through features and benefits. It hit me hard when I compiled it as it now appears after devaluation it doesn’t makes sense for us to use IDFC variants of Credit Cards including Wealth.

I majorly wanted this card for SPA access but it seems these all now requires a minimum spend of 20k/month to be eligible for next quarter use 🙁 . If we see it only has a reward rate of 0.5 Rupees per 100 spent on card NOW. It certainly doesn’t deserve for those who are maintaining high balance in Wealth Savings Account for this card. If you got LTF without IDFC wealth account then you can keep it. But still doing transactions on this card doesn’t make sense to me.

Guys let me know if there are good SPA access cards without fee or minimum fee.

I am listing updated benefits below.


BENEFITS
  • No Annual/Joining Fees
  • 2 Domestic Airport Lounge Access / Quarter ⇒ 8 visit (20k spends MONTHLY)
  • 2 International Airport Lounge Access / Quarter ⇒ 8 visit (20k spends MONTHLY)
  • 2 Spa / Quarter ⇒ 8 visits (20k spends MONTHLY)
  • 2 Golf rounds /month ⇒ 24 visits (20k spends MONTHLY)
  • 4 complimentary Railway lounge / Quarter ⇒ 16 visits
  • 3x rewards points till 20k
  • B1G1 Paytm movie offer upto 250

⇒ 1X = 1 Reward Point per ₹150 spent | 1 Reward point = ₹0.25
⇒ 3x = 3 RP/₹150 spent = .75 ₹
⇒ RP/100 ⇒ 0.5 ₹


After 20k
⇒ 10x = 10 RP/ 150 spent = 2.5 ₹
⇒ RP/100 ⇒ 1.6 ₹


Categories not included in the 10X Reward Points threshold: Rental & Property Management, Utility, Insurance, Government Services, Education and Wallet Load.
Reward Points program not applicable on fuel, EMI transactions, & cash withdrawals.
Reward redemption will attract a small convenience charge of ₹99 (+ applicable taxes) per redemption.
Click to expand...
RP - 1 Reward Point per every ₹150 spent and not every ₹100 spent now from 1st May 2024
 
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er3shivam said:
I was upgraded to IDFC Wealth CC recently and was going through features and benefits. It hit me hard when I compiled it as it now appears after devaluation it doesn’t makes sense for us to use IDFC variants of Credit Cards including Wealth.

I majorly wanted this card for SPA access but it seems these all now requires a minimum spend of 20k/month to be eligible for next quarter use 🙁 . If we see it only has a reward rate of 0.5 Rupees per 100 spent on card NOW. It certainly doesn’t deserve for those who are maintaining high balance in Wealth Savings Account for this card. If you got LTF without IDFC wealth account then you can keep it. But still doing transactions on this card doesn’t make sense to me.

Guys let me know if there are good SPA access cards without fee or minimum fee.

I am listing updated benefits below.


BENEFITS
  • No Annual/Joining Fees
  • 2 Domestic Airport Lounge Access / Quarter ⇒ 8 visit (20k spends MONTHLY)
  • 2 International Airport Lounge Access / Quarter ⇒ 8 visit (20k spends MONTHLY)
  • 2 Spa / Quarter ⇒ 8 visits (20k spends MONTHLY)
  • 2 Golf rounds /month ⇒ 24 visits (20k spends MONTHLY)
  • 4 complimentary Railway lounge / Quarter ⇒ 16 visits
  • 3x rewards points till 20k
  • B1G1 Paytm movie offer upto 250

⇒ 1X = 1 Reward Point per ₹150 spent | 1 Reward point = ₹0.25
⇒ 3x = 3 RP/₹150 spent = .75 ₹
⇒ RP/100 ⇒ 0.5 ₹


After 20k
⇒ 10x = 10 RP/ 150 spent = 2.5 ₹
⇒ RP/100 ⇒ 1.6 ₹


Categories not included in the 10X Reward Points threshold: Rental & Property Management, Utility, Insurance, Government Services, Education and Wallet Load.
Reward Points program not applicable on fuel, EMI transactions, & cash withdrawals.
Reward redemption will attract a small convenience charge of ₹99 (+ applicable taxes) per redemption.
Click to expand...
Airport access facility is bogus with queue of 100 people waiting to get in.
 
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cardio_guy said:
If I close one, can I take another?
Click to expand...
No best not to close.. i closed my millenia cc back in 2020.. idfc didnt allow me to take wealth cc untill 3 months ago.. that too I had to mail for around 2 months for them to fix the problem.. best to ask customer care once before closing and ask cooling period or send mail to banker@idfc.com so that u have something in written.
 
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I still find value in this card , for example:

1. Visa infinite offer on BMS, 300 on movie and 200 on f&B. I have only once got the message that the quota is full.
2. Apart from my world safari, I use this for my forex spends @ 1.77% forex markup
3. I recently needed cash abroad, and since my international debit wasn't working , used this card to withdraw. Only paid 199+gst as the fee+ forex markup, no interest. This is super handy and very few cards offer 0 interest cash withdrawal.

I'm going to hold the card for these reasons. Spa and lounge is a bummer but I have other cards to cover for it
 
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the_collector said:
I still find value in this card , for example:

1. Visa infinite offer on BMS, 300 on movie and 200 on f&B. I have only once got the message that the quota is full.
2. Apart from my world safari, I use this for my forex spends @ 1.77% forex markup
3. I recently needed cash abroad, and since my international debit wasn't working , used this card to withdraw. Only paid 199+gst as the fee+ forex markup, no interest. This is super handy and very few cards offer 0 interest cash withdrawal.

I'm going to hold the card for these reasons. Spa and lounge is a bummer but I have other cards to cover for it
Click to expand...
And this is still a good card for gold purchase offline if you don't have infinia or dcb
 
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AlgoTrader said:
And this is still a good card for gold purchase offline if you don't have infinia or dcb
Click to expand...
What is the benefit on Gold purchase using IDFC First Wealth CC? (Is it online, or offline jewellers like Bhima or Kalyan?)

drsel said:
Ask customer care to upgrade it to the other
Click to expand...
They told one person can hold only one LTF card. We can get a second IDFC First card, but that will be paid card. (Need to pay the JF/AF).
Also it is not possible to convert or upgrade existing Wealth card to LIC Select.
There is no cooling off period to apply for the next card. But it has to go through approval after VKYC.
 
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