Want to apply for the IDFC First Millennia Lifetime Free Credit Card? You are in the perfect place. Go through the post to find out more about this free credit card, the rewards scheme, and how you can apply for the card today.
Well, after launching OneCard Metal Credit Card in partnership with FPL Technologies, IDFC First Bank has launched its first-ever credit card products. They have 4 cards in their bouquet currently, and all the cards are offered as Lifetime Free Credit Cards without any membership charges.
- IDFC First Millennia Credit Card. (this post)
- IDFC First Classic Credit Card.
- IDFC First Select Credit Card.
- IDFC First Wealth Credit Card.
- Side-by-Side Comparison: IDFC Millennia vs Classic vs Select vs Wealth Credit Card.
In other posts, I have discussed the IDFC Classic, Select, and Wealth Credit Cards. In today’s post, we are going to look at the IDFC First Millennia Credit Card. This is also a lifetime free credit card tied with the VISA Classic tier and is currently the most low-end card in the bunch.
Let’s find out the detailed reward scheme, charges, eligibility criteria, and how you can apply for the IDFC First Millennia Credit Card.
Before we begin, let me invite you to our Finance Discussion Community on Facebook: FinTalks. Here we share our experiences and discuss queries related to banking, debit cards, and credit cards, mutual funds, stock markets, and more. We started in September 2020, and at the time of writing this post in January 2021, we have over 4k members. A lot of offers and discounts related to credit cards are also discussed here. Click Here to Join FinTalks.
Ready to get started? Here’s an overview:
IDFC First Millennia Credit Card: Features & Rewards Explained
You will earn Reward Points by using your IDFC First Millennia Credit Card. Below is the Reward Points Structure:
- 1x Reward Point = 1 Reward Point per Rs100 spending.
- Value of 1 Reward Point = 25 paise; 4 Reward Points = Rs1.
- You can earn unlimited reward points depending on your transaction value. There is no monthly cap.
- Your reward points are valid for lifetime. They don’t expire.
- Reward Points are not applicable to Fuel Transactions, Cash withdrawals, EMI Transactions, and Insurance Transactions.
- The rewards can be redeemed as card credit. There is no reward redemption fee.
Here’s the rewards scheme:
- Earn 6x reward points (1.5%) on regular online transactions.
- Earn 3x reward points (0.75%) on all offline retail store spends.
- Earn 10x reward points (2.5%) on purchases above Rs20000.
- Earn 10x reward points (2.5%) on all spends on your birthday.
- Get Interest-Free ATM Withdrawal up to 48 days. [WE ARE YET TO VERIFY THIS CLAIM SINCE THEIR TERMS AND CONDITIONS MENTIONS Rs250 CASH ADVANCE CHARGES & 0.75-2.99% MONTHLY INTEREST RATES.]
- Get 25% off on movie tickets, up to Rs100, once per month.
- Free Railway Lounge Access: 4 visits per quarter.
- Get a fuel surcharge waiver of up to Rs200 per month.
- Up to 20% off on dining at 1500+ selected restaurants.
- Up to 15% off on 3000+ selected health & wellness outlets.
- Get a personal accident cover of 2 Lakh and a complimentary lost card liability cover of Rs25000. Your card needs to be active and has to have at least one transaction last month.
- Any other VISA Classic Benefits.
IDFC First Millennia Credit Card: Charges
- IDFC First Millennia Credit Card is a Lifetime Free Credit Card. There will be no annual membership fees associated with this card.
- In case you do not pay your credit card bill entirely, the interest rates will vary from 0.75% to 2.99% monthly (9%-35.88% Annually).
- The Forex Markup Fee is 3.5%.
- There is no reward redemption fee.
- There are no overlimit fees or add-on charges.
- Late payment fee: 15% of the due amount (nil for an amount below Rs100), minimum Rs100 – maximum Rs1000.
- Cash Advance Fee (International & Domestic): Rs250
- Most Important Terms and Conditions: Fine Print.
- Card Usage Guide: Click Here.
IDFC First Millennia Credit Card: Welcome Bonus
- Get Rs500 gift voucher for spending Rs15000 within 90 days.
- Get 5% cashback on your first EMI Transaction spend value within 90 days of receiving your card.
IDFC First Millennia Credit Card: Alternatives
Before I speak about alternatives, let me state the factors that I liked about this credit card.
- Interest-free cash withdrawals from ATMs. Not all credit cards have this feature.
- Railway Lounge Access (apart from Domestic Airport Lounge)
- Lifetime Free Card.
But in terms of rewards, I cannot say much because we are still in darkness about its rewards scheme. Let’s wait, and I will update you when we find out more about it. Meanwhile, I have a few alternative credit cards to suggest that are also Lifetime Free or converted to Lifetime Free with the available methods.
HDFC Millennia Credit Card
Flipkart Axis Bank Credit Card
Amazon Pay ICICI Credit Card
OneCard Metal Credit Card
IDFC First Millennia Credit Card: Eligibility Criteria
- The good news is, for the initial round, all the IDFC First Credit Cards are offered on a pre-approved basis, depending on your creditworthiness and relationship with the bank. You won’t be required to submit any documents.
- IDFC First Bank will assess your credit profile and offer you a card according to its own discretion.
- Since it is a preapproved card, your relationship with the bank matters a lot in deciding how fast you will get the invite and how much credit limit will be assigned to you. So, consider creating an IDFC First Bank Savings Account or a Niyo IDFC Account if you want to get more benefits. Again, you have a high tier IDFC First Bank Account; it will certainly escalate the process.
How to Apply for IDFC First Millennia Credit Card?
The IDFC First Millennia Credit Card is launching in February 2021. To apply for the IDFC First Millennia Credit Card, you need to join the online waitlist. Offline branch applications have not started yet. To apply, visit the pre-launch page below.Apply for IDFC First Millennia Credit Card
Once you visit this website, you can check the complete card details. Click on the ‘Notify Me on Launch’ button. On the next page, you need to enter your name, mobile no, email id, and pin code. It will verify your number with OTP. Finally, you will get a message that you have successfully joined the IDFC First Millennia Credit Card pre-launch waitlist.
That’s all about IDFC First Millennia Credit Card. This is an entry-level card and should be very easy to obtain. If you have a decent credit score without any recent missed/late payments, then you can easily get approval for this credit card.
If you are a high-spender and have a strong CIBIL score, you may apply for any of the other higher tier IDFC First Credit Cards that were launched together: IDFC Classic Credit Card | IDFC Select Credit Card | IDFC Wealth Credit Card | Side-By-Side Comparison.
Thank you for reading. Do let me know if you have any further queries. I will be happy to help. Do share this post with your friends who were looking for lifetime free credit cards. And Join FinTalks to keep up with the latest trends in financial matters.
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