IDFC First Private advantage

[NikhilG]

Even after maintaining 1cr, they cant give a cc free! What are they doing with that 2-5L they are earning on your corpus!
Axis Private is better than, they give their private cc for free.

I wonder which is the best private cc, but qn for a separate thread.

You want to start a separate thread?

 

[abhiaj_geek]

You want to start a separate thread?

No. I meant the question
“Best private cc”
probably deserves a separate thread

 

[NikhilG]

Bhai wealth credit card hi bachta hai 😅

Ashva, maurya?
Select se wealth to mera vaise hi upgrade kar denge. Sa mein 1cr mein kya fayda phir?

 

[abhiaj_geek]

Ashva, maurya?
Select se wealth to mera vaise hi upgrade kar denge. Sa mein 1cr mein kya fayda phir?

Axis me dalke Axis Private milega
Hdfc me dalke infinia milega
Icici me dalke epm milega

You see the point right? With 1cr, I think you can get any credit card you want.
It is freaking 1cr in SA. Bank is earning 50k pm from it just by keeping it in SA.

 

[NikhilG]

Axis me dalke Axis Private milega
Hdfc me dalke infinia milega
Icici me dalke epm milega

You see the point right? With 1cr, I think you can get any credit card you want.
It is freaking 1cr in SA. Bank is earning 50k pm from it just by keeping it in SA.

I got your point, but also consider roi of all these banks. I will also lose 3 lac per year by keeping them in axis, hdfc and icici.

 

[Anindya98]

Every branch is home branch... @Anindya98 is IT so !!

Technically, yes, there is no home branch concept.

 

[NikhilG]

Technically, yes, there is no home branch concept.

But it made me select home branch when I opened the account online. If I don't have any home branch then whom do I talk to for my idfc private status?
I opened a basic account online

 

[hender]

But it made me select home branch when I opened the account online. If I don't have any home branch then whom do I talk to for my idfc private status?
I opened a basic account online

That's your home branch as per your choice, but other branch will help you to do your day to day banking as your home branch. Hope now it's been clear to you.

 

[NikhilG]

That's your home branch as per your choice, but other branch will help you to do your day to day banking as your home branch. Hope now it's been clear to you.

But who will help me get the private banking status?

 

[hender]

But who will help me get the private banking status?

Whom you will give money 💰

 

[NikhilG]

Whom you will give money 💰

I opened idfc basic account online 10k vala couple of months back. Abhi recently deposited 50 lacs

 

[abhiaj_geek]

I got your point, but also consider roi of all these banks. I will also lose 3 lac per year by keeping them in axis, hdfc and icici.

idfc first gives fd rates on SA above some big amount?

 

[NikhilG]

idfc first gives fd rates on SA above some big amount?

Above 5 lacs it gives 7 percent

 

[abhiaj_geek]

Above 5 lacs it gives 7 percent

All the best. Let us know how is idfc first private cc experience asap 🙂)

 

[NikhilG]

All the best. Let us know how is idfc first private cc experience asap 🙂)

Lol, only if they issue me their private cc free of cost. I'm not taking it with it's membership fee

 

[abhiaj_geek]

Lol, only if they issue me their private cc free of cost. I'm not taking it with it's membership fee

Do you know if anyone has gotten it without fees?

 

[NikhilG]

Do you know if anyone has gotten it without fees?

Not sure, but I forced my bm but he seems incompetent. I don't think anyone has got it yet.

 

[Anindya98]

Idfc first private credit card is not free. It's 50k plus taxes
I forced the bm to give me free. Then only I will maintain 1cr but he denied.
I asked him what other paid credit cards can be given free. Let's see what does he have to say about it.
I already hold idfc select credit card. What other good idfc credit cards can be suggested which I can ask for free?

Your BM will likely respond the same way, that they cannot arrange any paid card on a LTF basis.
I completely understand the appeal of the metal debit card, but honestly, I don’t believe it's worth parking ₹1 Cr just for that. Here are some key points everyone should consider before making that decision:

Things to Evaluate:

1. Why do you need the upgrade in the first place?
2. What returns are you getting on the funds kept in a savings account?
3. Are the hassles and potential charges justified compared to the actual benefits?
4. In case of a future downgrade, how easy is it to regain Private status, and is IDFC even the right bank to hold such high Total Relationship Value (TRV)?

My Observations:

1. Private Upgrade Justification:
   Upgrading to Private only makes sense if your monthly spends exceed ₹ 5.36 L. Otherwise, Wealth is more than sufficient. The practical difference between Wealth and Private is quite minimal, considering the funds required and the operational hurdles. Private upgrades involve multiple follow-ups, delays, and red tape. On the other hand, Wealth upgrades are smoother and much faster.
2. Maintaining Wealth Status:
   Even maintaining ₹5L in a Savings Account is generally enough to avoid a downgrade. If you're looking for complete peace of mind, parking ₹10L virtually guarantees status retention and easier future upgrades.
3. Is Private Worth the Hassle?
   For most individuals—unless you’re an NRI, UHNI, or unconcerned about capital growth—Private is not worth the trouble. It’s better to invest surplus funds elsewhere instead of locking them in a low-yield SB account just for vanity benefits.
4. Is IDFC Ideal for High TRV?
   Frankly, IDFC lacks the product maturity of banks like ICICI or HDFC. While LTF might sound attractive, products like ICICI Emeralde Private Metal (EPM) or HDFC Infinia/DCB deliver higher value and return. Also, keep in mind that RMs and BMs don’t stay forever—today they promise everything for commission, but tomorrow you're left alone.
   I too considered going for Private with ₹50L in IF, but after careful evaluation, I settled for Wealth. As a middle-class customer, I realized I'd never be satisfied once accustomed to such a high-tier account, and I wouldn't be able to sustain the TRV. Instead, I redirected those funds into better investments. Wealth offers nearly everything one needs without unnecessary pressure.
5. Most Important Point: Upgrades and downgrade happens in the same order. For example, 25K to Wealth will return to 25K, 25K <-> S <->W

To Your Specific Query:​

You made a major mistake by opening the account online. Branch staff won't be interested in helping because they don’t earn commission from online accounts. As a result, they might pressure you to open a new account with IF just so they get credited.
0 Forex get the IDFC WOW LTF, your FD will earn 7.5-7.75%, or IDFC Mayura with charges, it will give you more value than Private DC.
Home Branch is needed for Cheque Book and Passbook collection for day-to-day needs. You can visit any branch, as said by @hender

Anyone has any experience using idfc first private metal debit card. Do they put any charges on international cash withdrawal?

They have highlighted a 0% Forex charge, so they will charge ATM cash withdrawal fees. Your only solution is to get the exclusive DC from Indusind and pair it with Pinnacle CC.

I agree with @abhiaj_geek with 1 Cr, also the card will be paid and not worth the fees.
@Finchamp! I have added some more points which will help you to make a decision.

 

[Anindya98]

idfc first gives fd rates on SA above some big amount?

May 2025 updated

 

[NikhilG]

I

Your BM will likely respond the same way, that they cannot arrange any paid card on a LTF basis.
I completely understand the appeal of the metal debit card, but honestly, I don’t believe it's worth parking ₹1 Cr just for that. Here are some key points everyone should consider before making that decision:

Things to Evaluate:

1. Why do you need the upgrade in the first place?
2. What returns are you getting on the funds kept in a savings account?
3. Are the hassles and potential charges justified compared to the actual benefits?
4. In case of a future downgrade, how easy is it to regain Private status, and is IDFC even the right bank to hold such high Total Relationship Value (TRV)?

My Observations:

1. Private Upgrade Justification:
   Upgrading to Private only makes sense if your monthly spends exceed ₹ 5.36 L. Otherwise, Wealth is more than sufficient. The practical difference between Wealth and Private is quite minimal, considering the funds required and the operational hurdles. Private upgrades involve multiple follow-ups, delays, and red tape. On the other hand, Wealth upgrades are smoother and much faster.
2. Maintaining Wealth Status:
   Even maintaining ₹5L in a Savings Account is generally enough to avoid a downgrade. If you're looking for complete peace of mind, parking ₹10L virtually guarantees status retention and easier future upgrades.
3. Is Private Worth the Hassle?
   For most individuals—unless you’re an NRI, UHNI, or unconcerned about capital growth—Private is not worth the trouble. It’s better to invest surplus funds elsewhere instead of locking them in a low-yield SB account just for vanity benefits.
4. Is IDFC Ideal for High TRV?
   Frankly, IDFC lacks the product maturity of banks like ICICI or HDFC. While LTF might sound attractive, products like ICICI Emeralde Private Metal (EPM) or HDFC Infinia/DCB deliver higher value and return. Also, keep in mind that RMs and BMs don’t stay forever—today they promise everything for commission, but tomorrow you're left alone.
   I too considered going for Private with ₹50L in IF, but after careful evaluation, I settled for Wealth. As a middle-class customer, I realized I'd never be satisfied once accustomed to such a high-tier account, and I wouldn't be able to sustain the TRV. Instead, I redirected those funds into better investments. Wealth offers nearly everything one needs without unnecessary pressure.

To Your Specific Query:​

You made a major mistake by opening the account online. Branch staff won't be interested in helping because they don’t earn commission from online accounts. As a result, they might pressure you to open a new account with IF just so they get credited.
0 Forex get the IDFC WOW LTF, your FD will earn 7.5-7.75%, or IDFC Mayura with charges, it will give you more value than Private DC.
Home Branch is needed for Cheque Book and Passbook collection for day-to-day needs. You can visit any branch, as said by @hender

They have highlighted a 0% Forex charge, so they will charge ATM cash withdrawal fees. Your only solution is to get the exclusive DC from Indusind and pair it with Pinnacle CC.

I agree with @abhiaj_geek with 1 Cr, also the card will be paid and not worth the fees.
@Finchamp! I have added some more points which will help you to make a decision.

I frankly agree with everything you said. I'm not moving funds just because of card. If that was the case, I would have moved my funds to hdfc and would have got infinia. I'm doing it for 7 percent interest on savings account. My previous bank account has messed up a lot on interest rates.
I will have to keep it in savings account till I find where to invest. Comparing to fd. Sa is more convenient. Yes I made a mistake by opening the account online but I did some research on technofino and I found that it's convenient to open online and update the status later. Thus also gave me a chance to try out their net banking ui and app as well.
Now that I have funds in my account which was earlier eligible for private, shouldn't I be given a private status?