IDFC First Bank Select Credit Card Review

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IDFC First Bank is one of the newest banks to enter the credit card space in India. Being a new bank that is eager to get new customers, it has reasonable sign-up offers for its savings account. But, so far IDFC First bank has not offered sign-up offers for its credit cards. In this post, we review the IDFC First Bank Select credit card. Let’s find out what it offers in rewards and benefits.

Fees and Charges

All IDFC First Bank credit cards are offered Lifetime Free (LTF) – no joining or annual fee.

Joining and Annual Fee NIL (LTF)
Welcome Benefit Welcome voucher worth Rs 500 on spending Rs 15,000 within 90 days of card generation

5% cashback up to Rs 1000 on the transaction value of the first EMI done within 90 days of card generation

Variant Visa Signature



  • Offline Spends: 3 RP/Rs 125 ~0.6% return
  • Rental and Property Spends: 3 RP/Rs 125~0.6% return
  • Online Spends: 6 RP/Rs 125 ~1.2% return

There is no max cap on earning reward points. One upside is wallet spends come under online spending. So we get 6X rewards on that.

The offline reward rate is low. So, it does not make any sense to use the IDFC First Bank Select credit card at offline stores. However, one alternative is to use it at offline stores after the 10X rewards kick in. The 10X rewards are covered below.

The below transactions will not get any rewards on the IDFC First Bank Select credit card:

×   Fuel Spends

×   Insurance Spends

×   EMI transactions

10X Rewards on Incremental Spends

IDFC First Bank Select credit card gets a 10X benefit on incremental spending above Rs 25000. While the 10X return is decent, we need to spend the threshold amount at lower reward rates to reach there. This decreases the overall reward rate.

Rs 25000 10 RP/Rs 125 ~2% return
IDFC First Bank Select Credit Card Review: 10X Rewards

Key Benefits

  • Foreign Currency Mark Up Charges: 1.99% plus GST ~2.35%
  • Buy One Get One offer up to Rs 250 twice per month on Paytm movies
  • Complimentary Roadside Assistance up to 4 times per year
  • 1% Fuel Surcharge Waiver up to Rs 300 per month

The complimentary RSA is one of the unique privileges for a card of this segment. It covers many of the RSA services that we get as a paid cover from the vehicle showroom.

Complimentary Lounge and Spa Access

  • Domestic Lounge Access at Airports: 4 complimentary visits/quarter to the eligible list of lounges. The access is via Visa or DreamFolks card.
  • International Lounge Access at Airports: Not Available
  • Spa Access at India Airports: Not Available
  • Railway Lounge Access: 4 complimentary visits/quarter to the executive lounge in Delhi, Jaipur, Ahmedabad, Kolkata, and Agra

Minimum Spends required for airport lounge and spa access

IDFC First Bank Select would now need spends of Rs 5000 in a calendar month for complimentary airport lounge access in the next calendar month. For example, if you need complimentary airport lounge access in December, then you should have spent more than Rs 5000 in November.

Rewards Redemption

The earned reward points do not expire on IDFC First credit cards. The reward points can be used to pay for purchases. Each RP is worth 25 paise. Reward points can also be redeemed for gift vouchers like Amazon, Flipkart, Myntra, and Big Basket. There is a reward redemption fee of Rs 99 plus GST ~Rs 117 for the IDFC First Bank Select credit card.

Final Thoughts

The IDFC First Select card offers very low rewards compared to the competition. Even entry-level cards offer better rewards often. But, some of the benefits like RSA and railway lounge access are good. These are good for an LTF card. You can also take advantage of IDFC First Bank-specific offers on e-commerce sites with this card.

I am passionate blogger and youtuber since 2018 and self study Programmer.

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