IDFC First Classic Credit Card Review

The First Classic Credit Card, provided by IDFC Bank, is an excellent option for those who seek a super-rewarding credit card and many different discounts. 

To know more about it, keep reading!

What are the benefits?

The main benefits of this card are:

  • Unlimited Reward points that never expire,
  • No redemption fee,
  • No annual or over-limit fees,
  • 25% ( up to Rs. 100)  discount on movie tickets,
  • 4 complimentary railway lounge access per quarter,
  • 2 complimentary golf rounds per month,
  • 20% discount on 1500+ restaurants across India,
  • 15% discount on 3000+ Health & Wellness Outlets,
  • 1%  (up to Rs. 200) fuel surcharge waiver at all fuel stations across India,
  • Personal accident cover of Rs. 2,00,000,
  • Lost card liability cover of Rs. 25,000.

Unlimited Reward Points

The IDFC First Classic Credit Card provides reward points that never expire. This way, you won’t have to worry about losing your unused points.

By using this card, you can earn 10X reward points on purchases of more than Rs. 20,000 and on purchases made on your birthday. More than that, the IDFC First Classic Credit Card comes with  6X & 3X reward points on online and in-store purchases up to Rs 20,000,  respectively.  

The reward points collected can be redeemed whenever you wish! They can also be used further, to pay for your purchases.  

You must know that:

  • 1 reward point = Rs. 0.25,
  • 1X = 1 Reward point per Rs. 100 spent.

Railway Lounge Access

The IDFC First Classic Credit Card provides 4 complimentary railway lounge visits every quarter. However, it’s not the best option for those who wish to visit the airport lounges!

Discounts

The card offers a 25% discount on movie tickets that costs up to Rs. 100, monthly.  You can also dine at your favorite restaurants: there are more than 50 in-App discounts and up to 20% discounts on more than 1,500 restaurants.

What are the taxes and fees?

Before getting this card, you have to be aware of its main charges:

  • No annual fee. Lifetime Free Credit Card,
  • Low-Interest Rates (APR), from 0.75% to 3.5% per month (9% to 42% per annum),
  • Interest-free cash withdrawals on Domestic and International ATMs for up to 48 days (Cash Advance Fee of only ₹250 per transaction),
  • OVL Charges – 2.5% of the over-limit amount subject to a minimum charge of ₹500,
  • Late Payment Fee – 15% of Total Amount Due (subject to a minimum of ₹100 and a maximum of ₹1250),
  • Forex Markup at 3.5% for all international transactions.

How to apply for the IDFC First Bank Credit Card?

Before applying for this card, you have to know its eligibility criteria:

Age Policy:

you must be aged 21 years old or above.

Indian Resident & Sourcing Locations:

You must qualify as an Indian resident and have a current and permanent residential address within India.

Credit Bureau History

You are expected to have a good credit bureau score and no evidence/history of defaulting on loans or missing payments on loans or credit cards. The Credit Bureau Score is an indicator of how likely a customer is to repay outstanding bills on time.

Income Eligibility

Minimum Net Monthly Income = ₹25,000 (subject to change).