IDFC FIRST Bank recently relaunched - more precisely, revalued - its top-most flagship credit card: the IDFC FIRST Private Credit Card, effective from the 1st of this month. Let’s dive into its benefits.
Charges:-
Joining Fees: 50,000 + GST
Annual Fees: 50,000 + GST
Monthly Capping on Reward Points Redemption: 1,50,000
Annual Capping on Reward Points Redemption: 3,00,000
My Opinion:-
The IDFC FIRST Private Credit Card was a highly overpriced credit card. If you check my initial review, which I posted when this card was first launched, you'll see that I wrote a very negative review and honestly, I still think it deserves that criticism even today, if we ignore the newly introduced redemption options like travel bookings using reward points and the bonus points on hotel and flight bookings via the IDFC FIRST app.
Anyway, this card now offers a solid 6.66% reward rate on all eligible spends, including the utility category, which is really great.
The IDFC FIRST Private team has made significant changes to this product in the last 12 months. That said, I’m a little cautious, because they haven’t been consistent with the benefits. For example, this card initially offered the Taj Epicuremembership as a welcome benefit, which has now been replaced with ITC and Accor memberships. In my opinion, that’s a positive change, more beneficial overall. As long as they keep adding value, I’m all for it.
The card is now truly a super-premium credit card. But personally, I still prefer something like HDFC Infinia or Axis Magnus Burgundy / Axis Atlas, simply because the IDFC FIRST Private card doesn't have any airmiles transfer partners. Almost every major bank is entering the airmiles game these days, even some small finance banks have launched miles-based credit cards. I genuinely feel that IDFC FIRST Bank is lagging in this area. They really need to level up and introduce airmiles partners as soon as possible. That one move could completely shake up the Indian airmiles-based credit card market.
Overall, yes, this card comes with hefty fees, but it also offers some amazing benefits that can easily justify those fees. If you find the card’s features useful, especially if you frequently book revenue flights and hotels, and you’re not into the airmiles game, then go for it. But there’s just one thing I’m not so happy about, the 70% cap on reward point usage while redeeming for travel bookings. I feel that for a premium card like this, they should have either allowed 100% reward point redemption or at least offered bonus points on the remaining 30% payment that we make using the card. And the annual cap of 3,00,000 reward points on redemptions can also be a dealbreaker.
One more thing worth considering: the zero markup fees on foreign transactions, and on top of that, the potential to earn a 6.67% reward rate. That’s honestly amazing.
However, if you’re into the airmiles game, there are definitely better alternatives out there. Check out cards like HDFC Infinia, Axis Magnus Burgundy, Axis Burgundy Private, Axis Olympus, Axis Atlas, etc.
Charges:-
Joining Fees: 50,000 + GST
Annual Fees: 50,000 + GST
Welcome Benefits:
- Club ITC Culinaire Select Membership
- Accor Plus Explorer Membership
Airport Lounge Access Benefits:
- Domestic Lounge Access – Unlimited
- International Lounge Access – Unlimited, using Dreamfolks Card
- Domestic Spa Access at Airports – Unlimited, also via Dreamfolks Card
- Guest Access – 4 guest visits per year (India only)
Railway Lounge Access:
- Unlimited Railway Lounge Access across India
Golf Benefits:
- Unlimited Complimentary Golf Rounds
- Unlimited Golf Lessons
Movie Benefits:
- BookMyShow Offer – Get ₹750 off on movie tickets, non-movie events, and food combos, twice a month.
Zero Markup Fees:
- Enjoy 0% markup fees on all foreign currency transactions.
Interest-Free Cash Withdrawal:
- Enjoy interest-free cash withdrawals worldwide.
Trip Cancellation Benefits:
- Cover available to both primary and add-on cardholders, applicable on bookings made using the FIRST Private Credit Card.
- Up to ₹25,000 for flight bookings
- Up to ₹25,000 for hotel bookings
Reward System:
- 10 Reward Points per ₹150 spent (default rate)
- 3 Reward Points per ₹150 on rent payments and education-related expenses
- 1 Reward Point per ₹150 on insurance premium payments
- Hotel Booking – 50 Bonus Points for every Rs. 150 spent.
- Flight Booking – 20 Bonus Points for every Rs. 150 spent.
Monthly Bonus Points Cap: 25,000 Reward Points
No Reward Points on:
- Fuel
- Quasi-cash and government-related payments
- EMI transactions
- Cash withdrawals
Reward Redemption:
- Travel Bookings (Flights/Hotels) via Travel & Shop section –
1 Reward Point = ₹1
- Vouchers, Online Transactions, etc. –
1 Reward Point = ₹0.25
Effective Reward Rate:
For Travel Booking: (1 RP = ₹1)
- Base Reward (10X): 6.67%
- 3X Category: 2%
- 1X Category: 0.67%
- Hotel Booking (50X Bonus): 33.33% + base rate
- Flight Booking (20X Bonus): 13.33% + base rate
For Other Redemptions (1 RP = ₹0.25)
- Base Reward (10X): 1.67%
- 3X Category: 0.50%
- 1X Category: 0.17%
- Hotel Booking (50X Bonus): 8.33% + base rate
- Flight Booking (20X Bonus): 3.33% + base rate
Monthly Capping on Reward Points Redemption: 1,50,000
Annual Capping on Reward Points Redemption: 3,00,000
Spend-Based Milestone Benefit:
- Spend ₹15 Lakhs in 6 months (anniversary year-based) to receive:
- Taj Experiences Signature Dining Voucher
- Pre-plated thali or a 3-course set menu
- For 2 persons
- Redeemable at 60+ specialty restaurants across India
- Includes soft beverages as well
Karma Points:
- Earned on monthly spends above ₹30,000 (statement cycle basis)
- 1 Karma Point per ₹100 spent (on eligible spends above ₹30K)
- 1 Karma Point = ₹0.25
Donation System:
- When Karma Points reach 20,000 (worth ₹5,000), the full amount is donated to a chosen charity.
- If applicable, customers will receive a tax certificate for the donation.
Credit Limit:
- Minimum credit limit: ₹20 Lakhs
Eligibility:
- This is an invite-only credit card.
- Interested individuals can express interest on the IDFC FIRST Bank website.
My Opinion:-
The IDFC FIRST Private Credit Card was a highly overpriced credit card. If you check my initial review, which I posted when this card was first launched, you'll see that I wrote a very negative review and honestly, I still think it deserves that criticism even today, if we ignore the newly introduced redemption options like travel bookings using reward points and the bonus points on hotel and flight bookings via the IDFC FIRST app.
Anyway, this card now offers a solid 6.66% reward rate on all eligible spends, including the utility category, which is really great.
The IDFC FIRST Private team has made significant changes to this product in the last 12 months. That said, I’m a little cautious, because they haven’t been consistent with the benefits. For example, this card initially offered the Taj Epicuremembership as a welcome benefit, which has now been replaced with ITC and Accor memberships. In my opinion, that’s a positive change, more beneficial overall. As long as they keep adding value, I’m all for it.
The card is now truly a super-premium credit card. But personally, I still prefer something like HDFC Infinia or Axis Magnus Burgundy / Axis Atlas, simply because the IDFC FIRST Private card doesn't have any airmiles transfer partners. Almost every major bank is entering the airmiles game these days, even some small finance banks have launched miles-based credit cards. I genuinely feel that IDFC FIRST Bank is lagging in this area. They really need to level up and introduce airmiles partners as soon as possible. That one move could completely shake up the Indian airmiles-based credit card market.
Overall, yes, this card comes with hefty fees, but it also offers some amazing benefits that can easily justify those fees. If you find the card’s features useful, especially if you frequently book revenue flights and hotels, and you’re not into the airmiles game, then go for it. But there’s just one thing I’m not so happy about, the 70% cap on reward point usage while redeeming for travel bookings. I feel that for a premium card like this, they should have either allowed 100% reward point redemption or at least offered bonus points on the remaining 30% payment that we make using the card. And the annual cap of 3,00,000 reward points on redemptions can also be a dealbreaker.
One more thing worth considering: the zero markup fees on foreign transactions, and on top of that, the potential to earn a 6.67% reward rate. That’s honestly amazing.
However, if you’re into the airmiles game, there are definitely better alternatives out there. Check out cards like HDFC Infinia, Axis Magnus Burgundy, Axis Burgundy Private, Axis Olympus, Axis Atlas, etc.
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