IDFCFirst Wealth CC 9% club

[shsinha]

Received email from IDFCfirst bank regarding interest rate reduced from 16% currently (on my wealth cc) to 9%. They may be doing it selectively. However, this makes it very attractive. This 9% interest rate is better than personal loan if one needs. Even better than EMI as you loose rewards points when choosing emi option.

th

 

[Tosh]

Me here with 42% also

 

[the_dark_knight]

Panda wait for me, my idfc card isn't born yet, expected to beat u all.

 

[the_dark_knight]

Any idfc debit card which can provide more than 1% or high rewards on cc bill payment through any trick or something?

 

[aayusharyan]

Mine is 20 days old and it is 42% .. it seems the highest rate.. I beat you

What's the range of your CIBIL?

 

[SSV]

What's the range of your CIBIL?

797 to 804

 

[SpiesCan'tCatchMe]

Most of them have 42%
Even I have that

 

[aayusharyan]

797 to 804

Hmmmm, interesting. So, then why they decide the interest rate. 🤔
For reference - My CIBIL is around 780-790 and IDFC charges me at 36% pa.

 

[aayusharyan]

Maybe depends on age. MY credit profile was 2 years old when I applied IDFC CC.

 

[SSV]

Hmmmm, interesting. So, then why they decide the interest rate. 🤔
For reference - My CIBIL is around 780-790 and IDFC charges me at 36% pa.

Maybe depends on age. MY credit profile was 2 years old when I applied IDFC CC.

My Credit profile age is : 5+ years.

May be I am NTB to them, they will start from there and slowly reduce..
another factor may be: my base card Amex has only 2.31L CL.. may be because of this..
For wealth they gave me 5L CL based on Amex 2.31L...

 

[aayusharyan]

My Credit profile age is : 5+ years.

May be I am NTB to them, they will start from there and slowly reduce..
another factor may be: my base card Amex has only 2.31L CL.. may be because of this..
For wealth they gave me 5L CL based on Amex 2.31L...

Hmm, Based on C2C, the CL is given, not sure about ROI.
In my case, they matched the CC of my card that time, didn't exceed, maybe that's why,?more risk, more interest. 🤔
Also I was NTB as well, lol i still hold the CC only with them.

 

[helloworld]

Hmmmm, interesting. So, then why they decide the interest rate. 🤔
For reference - My CIBIL is around 780-790 and IDFC charges me at 36% pa.

when I applied select 2 years back, I got at 14% interest rate.. at that time all cards same reward rate, so I choose this card. Then they changed all cards.
last year when I closed select and applied wealth, I got at 42%.

Note: my CIBIL stuck at same score for the past 2 years, so no changes between these two cards.

Since, I don't want to carry-forward my balance, I never cared much about it. Hopefully never will.

But interesting thing is, I received multiple times 100% processing fee waiver for balance transfer at 1%.

 

[Kumar93196]

Have a look at this😏

 

[aayusharyan]

Have a look at this😏

Woah.. . Niceeeee

 

[sravanbrahma]

Received email from IDFCfirst bank regarding interest rate reduced from 16% currently (on my wealth cc) to 9%. They may be doing it selectively. However, this makes it very attractive. This 9% interest rate is better than personal loan if one needs. Even better than EMI as you loose rewards points when choosing emi option.

th

I just received it last week I never keep cc debt not much use to me though. But may be good in some emergencies.

 

[card-shard]

I just received it last week I never keep cc debt not much use to me though. But may be good in some emergencies.

how long you've been holding the card?
Current limit & last few months utilization?

 

[sravanbrahma]

how long you've been holding the card?
Current limit & last few months utilization?

holding it for 2 years. used very well for first one year. (10% each month)
650,000 limit.
last 1 year I hardly used it. Mostly used for paytm wallet loads.