IDFC FIRST Classic Credit Card is best for beginners because of zero membership fee and great rewards.
From a welcome bonus to rewards points, this card is designed to offer convenience and affordability to its users.
My Personal Experience
Honestly speaking, I applied for the IDFC FIRST Classic credit card solely because it was a free credit card with no joining fee or annual fee, as a lifetime free card user. The welcome bonus of a gift voucher worth Rs. 500 on spending Rs. 15,000 or more within the first 90 days was also a decent offer.
However, after using this credit card for a few months, I found myself using it less frequently than my HDFC Millennia credit card.
While the reward points system is noteworthy, with 3 reward points for every offline spend of Rs. 150 and 6 reward points for every online spend of Rs. 150. The lack of international lounge access and golf benefits were major drawbacks for me.
Here’s an overview of the features and rewards of IDFC FIRST Classic credit card.
Product Details
- IDFC FIRST Classic credit card is a lifetime free credit card.
- You do not need to pay joining and renewal fees for this card.
- Earn 3 reward points on every Rs. 150 spent on offline purchases.
- 6 RP on every Rs. 150 you spend on online purchases.
- Get a welcome gift voucher worth Rs. 500 on spending Rs. 15,000 or more within the first 90 days.
- Earn 10 reward points on every Rs. 150 spend on purchases above Rs. 20,000.
- Additionally, 10 RP on every Rs. 150 spent on your birthday.
- Get personal accident cover worth Rs. 2 Lakhs in case of loss of death.
- You get insurance benefit under lost card liability cover worth Rs. 25,000.
Rewards & Benefits
Welcome Bonus
- You get a welcome gift voucher worth Rs. 500 on spending Rs. 15,000 or more within the first 90 days of card issuance.
- Also, you get 5% cashback on your first EMI transaction done inside 90 days of card issuance.
Movie & Dining Benefits
- Enjoy a 25% discount (up to Rs. 100) on movies once every month via Paytm app.
- Get up to a 20% discount on dining across over 1,500 restaurants.
Fuel Surcharge Waiver
- Get a 1% fuel surcharge waived off at all fuel stations in India.
- The maximum cap up to Rs. 200 per statement cycle.
Reward Points
- You will earn 3 reward points on every Rs. 150 spends on offline spend.
- You get 6 reward points on every online spend of Rs. 150.
- Earn 10 Reward Points for every Rs. 150 spent on purchases above Rs. 20,000.
- Avail 10 Reward Points for every Rs. 150 spent on your birthday.
- There is no expiry date of earned reward points of IDFC FIRST Classic credit card.
- You can not earn reward points for making fuel transactions, loan payments, EMI transactions, and cash withdrawals.
Reward Redemption Points
- Reward Value: 1 Reward Point = Rs. 0.25.
- Redeem your reward points instantly for online transactions & partner stores. Here, 1 Reward Point = Rs. 0.25.
Milestone Benefit
- Earn 10 Reward Points for every Rs. 150 spent on purchases above Rs. 20,000.
Lounge Access
- You can enjoy 16 complimentary domestic Railway lounge access with maximum 4 visits every quarter.
- With this credit card, you can’t get complimentary international lounge access.
- You also get complimentary roadside assistance worth Rs. 1399 four times a year.
Other Fees of IDFC FIRST Classic Credit Card
- Joining and Renewal Fees: IDFC FIRST Classic credit card is lifetime free credit card.
- Reward Redemption Fee: The IDFC FIRST Classic credit card charges a convenience fee of Rs. 99 plus taxes.
- Forex Markup Fees: 3.5% of the total transaction amount.
- Cash Advance Fee: Rs. 199 per transaction.
Pros & Cons of IDFC FIRST Classic Credit Card
Pros
- No joining fees or annual fees make this credit card affordable for everyone.
- A welcome bonus and discounts on movies and dining make it an attractive option for regular spenders.
- Reward points earned through online and offline spends can be easily redeemed for online transactions and partner stores.
- The 1% fuel surcharge waiver and complimentary railway lounge access make it a great choice for frequent travelers.
Cons
- The absence of international lounge access and golf benefits might be a deal-breaker for some users.
- The forex markup fees are relatively high than some other premium credit cards, which could be a concern for those who frequently travel abroad.
Conclusion
If you are looking for a lifetime free credit card, consider IDFC FIRST Classic credit card as the credit card comes with no joining fees or annual fees. The welcome bonus, reward points, and discounts on movies and dining make it a value proposition for regular spenders.
Best Alternate
Axis Bank Ace is a beginner-level credit card that provides 5% cashback on bill payments, DTH, and mobile recharges via Google Pay. Overall, you get 2% cashback return on all other spends.
For beginners, ICICI Amazon Pay credit card with zero membership fee offers a higher cashback return rate of 5% on Amazon spends.
You may also go with HDFC Millennia for a better cashback return. Millennia offers you 5% cash back on Amazon, Flipkart, Myntra, BookMyShow, Swiggy, Zomato, Sony LIV, and Uber.
IDFC FIRST Classic Credit Card: Frequently Asked Questions (FAQs)
#1. What is the joining fee for the IDFC FIRST Classic credit card?
The joining fee for the IDFC FIRST Classic credit card is Nil.
#2. Is there an annual fee for this credit card?
No, the IDFC FIRST Classic Credit Card offers lifetime free annual fees.
#3. What is the welcome bonus offered with this credit card?
You can get a welcome gift voucher worth Rs. 500 on spending Rs. 15,000 or more within the first 90 days.
#4. Can I earn reward points on both online and offline spends with this credit card?
Yes, you can earn 3 Reward Points on every offline spend of Rs. 150 and 6 Reward Points on every online spend of Rs. 150.
#5. How much is 1 Reward Point worth?
1 Reward Point is equal to Rs. 0.25.
#6. What is the best way to redeem Reward Points earned through this credit card?
You can instantly redeem your Reward Points for online transactions and partner stores. Here, 1 Reward Point is equal to Rs. 0.25.
#7. Does this credit card offer international lounge access?
No, international lounge access is not available with the IDFC FIRST Classic credit card.
#8. How many railway lounge accesses are offered with this credit card?
You can enjoy 4 complimentary railway lounge access every quarter with this credit card.
