IDFC First Bank Credit Cards Devalued - All IDFC First Credit Cards Are Affected

[Dad0h0j0]

Again where in mitc ?

i think they hadn't updated their web page, it still showing previous rewards system.

 

[Dad0h0j0]

This doesn’t impact Government services right? 9311, 9399

yep it do, earlier it consider in 10x rewards, now it capped at 3x

 

[sousnake]

The only thing left about IDFC select is it looks good, that's it?

 

[techt]

yep it do, earlier it consider in 10x rewards, now it capped at 3x

So only USP of this card is Gold txns still fall into 10x ?

 

[kumarvishwas]

So BOGO gone on Magnus and now on Wealth(considering movie tickets are usually prices at more than 350 in metros)

And even lounge access as well

 

[nishank]

Are we at the end of era ?

 

[shenoyanil98]

Wealth credit card will give 0.5% till 20000 and 1.66% after 20000 plus wallet loading will not be considered for the 10x calculations.
Basically wealth card is useless after 1st of May

 

[Desu Sarath]

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

 

[Deepak_Shetty]

IDFC Wealth card also devaluated effectively from 1st May 2024.
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

Click here to view updated MITC
1. Reward Points
• Unlock 10X Reward Points faster in 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*

 

[Zacobite]

yep. golden age of cc are setting.

but 10x trigger has dropped to 20k..it was 30k earlier isn't it? is that a silver lining?

 

[Dad0h0j0]

So only USP of this card is Gold txns still fall into 10x ?

yes i think so. they didn't mention that in the communication

 

[sousnake]

Wealth credit card will give 0.5% till 20000 and 1.66% after 20000 plus wallet loading will not be considered for the 10x calculations.
Basically wealth card is useless after 1st of May

So no point in trying to upgrade to wealth now, since reward rate of select & wealth are same. I will not spend 20k for lounge access.
Only diff is movie benefit of 250 vs 125.

 

[Dad0h0j0]

but 10x trigger has dropped to 20k..it was 30k earlier isn't it? is that a silver lining?

but earlier you get point for 100 rs, now it changed to 150 per point. consider that also

 

[R!ppEr]

time to switch back to debit cards?

 

[techt]

Main change is here in terms of Rewards , earlier it was 100rs per 1 point, now it is 150.

No, this per 150 applies Only for Education, Wallet load and Government services.

 

[arjun]

one which I was looking forward to most BOGO paytm offer,

Now the wealth is not premium anymore let's be honest here

 

[kskds]

Another reason to not to carry the Wealth card in my wallet now! Was not using the Lounge Access,but was very much availing the Paytm B1G1 Movie offer.

 

[MangoRush]

One more card to throw in dustbin

 

[techt]

Are we at the end of era ?

 

[Deepak_Shetty]

one which I was looking forward to most BOGO paytm offer,

Now the wealth is not premium anymore let's be honest here

Still for non metro cities, 250 Rs capping is enough.