Want to apply for the IDFC First Select Lifetime Free Credit Card? You are at the right place. Keep reading the post to find out the complete details, rewards scheme, and how you can apply for this free credit card today.
After offering OneCard Metal Credit Card in partnership with FPL Technologies, IDFC First Bank has come up with their own credit cards. They have launched 4 credit cards in the initial phase:
- IDFC First Millennia Credit Card.
- IDFC First Classic Credit Card.
- IDFC First Select Credit Card. (this post)
- IDFC First Wealth Credit Card.
- Side-by-Side Comparison: IDFC Millennia vs Classic vs Select vs Wealth Credit Card.
In our other posts, I have covered the complete details regarding the IDFC First Millennia, Classic, and Wealth Credit Card. Today, we will look at the IDFC First Select Credit Card and discuss its features, charges, eligibility criteria, and how you can apply for this card. At the same time, I will be naming some other alternative credit cards that you may apply for.
The IDFC First Select Credit Card is a Lifetime Free Credit Card that is tied up with the VISA Signature variant. So, you will be enjoying the VISA Signature benefits as well. This is the second-best card after the IDFC Wealth Credit Card, and it targets overall high monthly spenders.
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.
Here’s an overview:
IDFC First Select Credit Card: Features & Rewards Explained
IDFC First Select Credit Card will earn you reward points the more you use it. Below is the fine print:
- 1x Reward point translates to 1 Reward Point per Rs100.
- 1 Reward Point is actually 25 paise; 4 Reward Points = Rs1.
- There are no limits on how many reward points you can earn per month.
- The reward points never expire and have lifetime validity.
- If you are doing cash withdrawals, Insurance transactions, EMI transactions, or Fuel transactions, you won’t earn any reward points.
- You can redeem the reward points as a credit for the card. You won’t be charged any reward redemption fees.
Below are the details of the rewards:
- Get 6x reward points (1.5%) on online transactions.
- Get 3x reward points (0.75%) on offline retail spends.
- Get 10x reward points (2.5%) on spends above 20000.
- Get 10x reward points (2.5%) on your birthday spends.
- Earn two Buy 1 Get 1 movie tickets worth Rs250 each, per month.
- 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 4 times Domestic Airport and Railway Lounge Access per quarter. This means 16 times per year.
- Get a monthly waiver on a fuel surcharge of up to Rs300.
- 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 5 Lakh and a complimentary lost card liability cover of Rs50000. Your card needs to be active and has to have at least one transaction last month.
- Get Travel Insurance cover of Rs22500. (Loss of checked-in baggage Rs7500, Loss of Passport or any other documents Rs5000, Delay of checked-in baggage & Delay in Flight Rs5000.
- Get Roadside Assistance worth Rs1399.
- Any other VISA Signature Benefits.
IDFC First Select Credit Card: Charges
- IDFC First Select 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 1.99%.
- 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 Select 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 Select Credit Card: Alternatives
Before I speak about alternatives, let me state the factors that I liked about this credit card.
- Buy 1 Get 1 Movie Tickets offer every month.
- 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.
Amazon Pay ICICI Credit Card:
HDFC Millennia Credit Card:
OneCard Metal Credit Card:
IDFC First Select Credit Card: Eligibility Criteria
- All the IDFC First Credit Cards are offered as pre-approved cards for the initial rounds depending on your CIBIL Score. No documents will be collected from you.
- IDFC First Bank will be assessing your creditworthiness and offer you the best credit card.
- If you have a savings account with IDFC First Bank or a Niyo IDFC Account, you will have a better chance at getting the card faster, with a higher credit limit. So, you may consider opening an IDFC First Bank Account if you don’t have one yet.
How to Apply for IDFC First Select Credit Card?
The IDFC First Select Credit Card is launching in February 2021. To apply for the IDFC First Select 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 Select Credit Card
Once you visit this website, you can check all details. Click on the ‘Notify Me on Launch’ button. It will ask for your Name, Mobile No, Email, and Pincode. After you submit them, it will verify your number with an OTP. Finally, you will get a message that you have successfully enrolled in the IDFC First Select Credit Card pre-launch waitlist.
That’s all about IDFC First Select Credit Card. Well, don’t be disappointed if you are not approved yet. It is gradually being rolled out and will be reaching your area in due course. By the way, you should also check out the other cards that were launched together: IDFC Millennia Credit Card | IDFC Classic Credit Card | IDFC Wealth Credit Card | Side-By-Side Comparison.
Thanks for reading. If you have further queries, do comment below. I will be happy to help. Do share this post with your friends who are in search of a Lifetime Free Credit Card. Maybe ask them to open a bank account with IDFC Bank.
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