IDFC Bank is headquartered in Mumbai and is one of the most famous credit card issuers in India. IDFC has 600 branches in India out of which 592 branches are spread across the country. Also, it has low-interest charges plus interest-free cash withdrawals, accident cover, discounts on movie tickets, unlimited reward points, fuel surcharge waivers, etc. Some of the IDFC Bank Credit Cards include the IDFC Wealth Credit Card, IDFC First Select Credit Card, IDFC First Classic Credit Card, IDFC First Millennia Credit Card, and many more.
Top 5 Reasons to Opt for an IDFC Credit Card
Mentioned below are the top 5 reasons to opt for IDFC Credit Card:
- Assurance:
No documentation, no credit score, or no income proof is required.
- Zero Forex Markup Fees:
As the forex conversion is free, foreign spending gets free with this card.
- Interest Earnings:
Earn up to 7.50% against a Fixed Deposit issued of up to 7.50% p.a.
- Reward Points:
Earn 4X reward points on every transaction which do not expire.
- Lifetime Free Credit Card:
There are no joining fees, membership fees, or annual fees in the case of the IDFC Wow Credit Card.
Features of IDFC Credit Card
Mentioned below are the features of the IDFC Credit Card:
- No joining fee i.e. one can get free lifetime access to the card
- Get the best interest rates
- Earn cashback and rewards as high as 10X on every transaction
- Pay zero interest on cash withdrawals from any ATM around the world
- Convert your payments into easy EMIs any time
- Travel in style with access to domestic and international airport lounges
- Shop till you drop and enjoy a low forex mark-up on international purchases
- Enjoy instant discounts on movies, gadgets, travel, groceries and much more
How to Apply for an IDFC Credit Card?
Before hitting on the IDFC Credit Card Apply button, one should know the steps of the same which are as mentioned below:
- Via Online Mode:
Step 1: Open the official website of IDFC Bank.
Step 2: Under “Credit Cards”, click on “Apply Now”.
Step 3: An OTP will be received on the registered mobile number for verification purposes.
Step 4: Fill Out the details in the digital form.
Step 5: Click on “Proceed” to complete the online application by giving consent to it.
Step 6: The credit card will be delivered in 4-5 days and the virtual card can be used instantly on the mobile app.
Step 7: Also, if an applicant already has an offer, then he/ she can apply for the same by logging into the mobile banking app.
Note: In the case of Wow Credit Card, firstly open a Fixed Deposit.
- Via Offline Mode:
Step 1: Visit the nearest branch of IDFC Bank.
Step 2: Request the bank representative to provide the application form.
Step 3: Fill out the form carefully.
Step 4: Attach the documents along with the form and submit the form to the bank.
Step 5: The bank will then verify the documents and will call in case further documents are needed.
Step 6: A credit card will be issued after approval.
Who can apply for an IDFC Credit Card?
Mentioned below are eligible to apply for an IDFC Credit Card:
- The minimum age of an applicant must be 21 years old.
- The minimum age of the applicant in the case of a Wow card must be 18 years.
- An applicant must be an Indian citizen.
- An applicant must have a good credit score.
- The credit usage ratio must be within an acceptable level.
- An applicant must have an annual income of:
- ₹3 lakhs or more for FIRST Classic & FIRST Millennia
- ₹12 lakhs or more for FIRST Select
- ₹36 lakhs or more for FIRST Wealth
Documents Required
Mentioned below is the list of documents required to apply for IDFC Credit Card:
- Proof of Address:Copy of telephone bill, Aadhaar card, electricity bill, rental agreement, passport, or ration card
- Proof of Identity:Voter card, Passport, Aadhaar card, Driving License, PAN card
- Income Documents:For self-employed applicants, the bank requires the balance sheet or audit statement, the financial statement of the business, and the latest Income tax return copy. For salaried applicants, the bank needs to verify the latest salary slip, salary certificate, and letter of employment.
Key Benefits of IDFC Credit Card –
IDFC credit card has a wide range of benefits, some of which are mentioned below:
- Welcome Benefit –If the cardholder spends INR 15000 in the span of the first 90 days of card issuance, then he will receive a welcome gift.
- Insurance Benefit –With an IDFC card, the cardholder will get the benefit of INR 50000 for the lost card and INR 1, 00,000 for personal accident cover.
- Interestless cash withdrawal –Any cash withdrawal from an ATM will be interest-free for the first 48 days of card issuance. This benefit applies to all credit cards offered by IDFC Bank.
- Cash Back Benefit –Cardholders will be entitled to 5% cash back on EMI made using an IDFC credit card.
- Vehicle Benefit –Free roadside assistance cover of INR 1399 will be given to IDFC credit card holders.
- Low-Interest Rates –IDFC credit card has comparatively low interest rates as compared to other banks
Rewards that can be Earned
Mentioned below are the rewards that could be earned if an IDFC Credit card is applied for:
- Get the Reward Points multiplied by 10 times on all the transactions made above INR 20000.
- Get 3 times Reward Points on all offline transactions.
- Earn 6X Reward Points on all online spending.
- Enjoy 10X reward points on your birthday.
- There is no maximum limit on the reward points earned through the IDFC First Classic Credit Card.
- There is no expiry of the reward points and they can be redeemed anytime.
- Earn 1 reward point on the expenditure of INR 150 each.
IDFC Classic Credit Card Payment
Mentioned below are the different ways to make payment for an IDFC First Classic Credit Card:
- Via Internet Banking
- Via UPI Payments
- Via Net Banking of Another bank or Debit Cards
- Via IMPS and NEFT where IFSC Code is IDFB0010225.