IDFC reward reduced to 1X for utility

[D7162]

Just received Email from IDFC

Rewards for MCC 4900 will be 1x only

Insurance MCC 5960 & 6300 will also earn 1x - applicable to all IDFC cards

Email Subject line - Important information regarding your IDFC FIRST Bank Credit Card

 

[ALOAK]

Me

Just received Email from IDFC

Rewards for MCC 4900 will be 1x only

Insurance MCC 5960 & 6300 will also earn 1x - applicable to all IDFC cards

Email Subject line - Important information regarding your IDFC FIRST Bank Credit Card yes just recived the same.

 

[ALOAK]

Me

Atleast idfc is giving 1x for insurance and utility big mnc banks do not give any points. Idfc gives 3x for rent payment . Wish other banks does the same. Points dont expire

 

[4uziaul]

Already shared here

Post in thread 'Ways to get IDFC First Wealth Credit Card' https://www.technofino.in/community...dfc-first-wealth-credit-card.8966/post-284277

 

[yashbhavnani]

Utility (MCC : 4900) has been excluded from 10x calculations and will earn at 1x from 21st August 2023.

 

[D7162]

Atleast idfc is giving 1x for insurance and utility big mnc banks do not give any points. Idfc gives 3x for rent payment . Wish other banks does the same. Points dont expire

Value matters - 1x means 0.25% thats too low

 

[D7162]

Already shared here

Post in thread 'Ways to get IDFC First Wealth Credit Card' https://www.technofino.in/community...dfc-first-wealth-credit-card.8966/post-284277

Why should one post Devaluation post in thread WAY TO GET WEALTH CARD ??

 

[4uziaul]

Why should one post Devaluation post in thread WAY TO GET WEALTH CARD ??

Probably because it doesn't deserve its own thread. 🤣

 

[sxchzy]

already posted in another thread

 

[gurubhai]

inhone bhi behti ganga me hath dho liye xD

 

[sxchzy]

yeh to

inhone bhi behti ganga me hath dho liye xD

kachra hi tha
aur ganda kardiya

 

[maheshspanicker]

That's the 3rd devaluation in less than a year from IDFC. Quite some rate. Those were impressive enough cards to start, LTF, 1.5 percent reward rate, lounge access. First the reward rates dropped, then they introduced spend based restrictions on lounge access, and then disincentivised spend by further devaluation!
BTW, wasn't insurance excluded from points earlier?

 

[Md Kaif]

JUST RECEIVED THIS MAIL FROM IDFC

This caught my eye
CMA Clause 27.18 ---
Eligibility of transactions for rewards are dependent on acquirers providing the correct online
flag/identifier and merchant category code to the Issuer, which is laid out as per the rules
defined by the network (VISA, MasterCard etc.). If the acquirer sends an incorrect identifier/flag
or merchant category code for transactions, then Issuer will not be held liable to give accelerated
Reward Points for such transactions on Credit Card.

 

[Wealth is my birth right!]

JUST RECEIVED THIS MAIL FROM IDFC

CMA Clause 27.18 ---
Eligibility of transactions for rewards are dependent on acquirers providing the correct online
flag/identifier and merchant category code to the Issuer, which is laid out as per the rules
defined by the network (VISA, MasterCard etc.). If the acquirer sends an incorrect identifier/flag
or merchant category code for transactions, then Issuer will not be held liable to give accelerated
Reward Points for such transactions on Credit Card.

These are the changes: