By: OurMoneyGuide || Last updated on: June 5, 2024 

The IDFC First Wealth Credit Card is a premium card from IDFC First, with a minimum income requirement of ₹36 lakhs per year.. Unlike most premium cards in the industry, this card is offered lifetime free.

It comes with a range of benefits, but the reward rates given on card spending are comparatively low.

Pros & Cons of IDFC First Wealth Credit Card

Pros

  • Premium card offering, but with no annual fee (lifetime free card)
  • Range of benefits like complimentary airport & railway lounge access, free golf rounds, movie benefits, roadside assistance, complimentary insurance covers.

Cons

  • Reward rates on card spending are comparatively low.

Features & Benefits of the IDFC First Wealth Credit Card

Lifetime free card

There is no annual fee on the card. You also get welcome offers-
– You get a welcome voucher worth ₹500, on spending ₹5,000 or more within 90 days of card generation.
– You enjoy 5% cashback (up to maximum ₹1000), on the transaction value of your first EMI – completed within 30 days of card generation.

Rewards program

Spend categoryReward
Insurance spends & utility bill payments0.16% reward (X reward)
- You earn 1 reward point worth ₹0.25 on every ₹100 spent in these categories (meaning 0.66 points worth 16 paise on every ₹100 spent) - 0.16% reward

If utility bill payments are over ₹20000 per month, it is designated as commercial usage and a charge of 1% of transaction value will be levied as a utility fee on commercial usage.

On all card spends upto ₹20,000 per month

0.50% reward (3X reward)
- You earn 3 reward points worth ₹0.75 on every ₹150 you spend on your card (meaning 2 reward points worth ₹0.50 on every ₹100 spent) – 0.50% reward

On all card spends above ₹20,000 per month & on your birthday1.66% reward (10X reward)
- You earn 10 reward points worth ₹2.50 on every ₹150 you spend on your card (meaning 6.66 reward points worth ₹1.66 on every ₹100 spent) – 1.66% reward
Exceptions & restrictions Please note exceptions and restrictions on the below 3 categories of card spends-
- Fuel spends, EMI transactions & cash withdrawals : These spends are not part of the rewards program. You do not earn reward points on these card spends. 
- Insurance spends & utility bill payments (X) : You earn X rewards (meaning 0.16% reward) on these card spends. These spends are not eligible for 10X rewards threshold calculation.
- Rental & property management related spends, education spends, wallet loads and government spends (3X) : You earn 3X rewards (meaning 0.50% reward) on these card spends.These spends are not eligible for 10X rewards threshold calculation. 


1 reward point = ₹0.25 or 25 paise, and can redeemed on IDFC First Bank’s Rewards Platform, for a range of exciting offers, including merchandise, gift vouchers, travel bookings, and more. You can access the IDFC First Bank Rewards platform through the IDFC PoshVine Reward Portal, mobile app or Internet banking. 

Reward points are valid forever. Each reward redemption transaction incurs a ₹99 convenience charge 

Complimentary domestic airport lounge & spa access (2 per quarter) || Complimentary international airport lounge access (2 per quarter)

You need to spend ₹20,000 on your card in the previous month, to avail this offer.

For list of domestic airport lounges, please click here → eligible lounges. To check number of available visits, please click here.

Complimentary railway lounge access – 4 times per quarter

You get 16 free railway lounge visits per year, maximum 4 visits per quarter. 

Lower fee of 1.50% on international credit card transactions

You are charged a lower fee (forex mark up) of 1.50% on foreign card transactions. Most cards in the industry, except a few charge 3.50%.

Complimentary golf benefits – upto 2 golf rounds per month (1 free round for every ₹20,000 card spend)

You need to spend a minimum of ₹20,000 on your card in the previous month, to avail this offer.
– On a minimum spend of ₹20,000 on your card in the previous month, you get 1 free golf round in the following month
– On a minimum spend of ₹40,000 on your card in the previous month, you get 2 free golf rounds in the following month

Movie benefits – BOGO (‘Buy one, get one’) offer at Paytm Movies, upto ₹500 per month

You get ‘Buy one, get one’ offer on movie tickets (up to ₹250 off on the 2nd ticket) – on Paytm mobile app.

This is valid 2 times per month.

Emergency complimentary roadside assistance (RSA) package worth ₹1399

You get 24X7 assistance for flat tires & tire change, battery jump-start or alternate battery, fuel delivery, lost key replacement, minor repairs, vehicle towing (if required) – provided through Global Assure.

You can avail this benefit up to 4 times a year. To know more details, please click here.

Fuel surcharge waiver, upto ₹400 per month

You get a 1% fuel surcharge waiver at all fuel stations across India, only on fuel transactions between ₹200 & ₹5000. And only on fuel purchases upto ₹40,000 per month (since the waiver amount is capped at ₹400 per monthly card statement cycle).

Variety of complimentary insurance covers

✓ You get complimentary cancellation for any reason (CFAR) insurance, for hotel and flight booking cancellations – for 2 claims up to ₹10000.

✓ You get a ₹50,000 insurance cover for lost card liability. This protects counterfeit/ skimming/ phishing and online fraud protection, in case of any fraudulent transactions on your credit card.

✓ You receive a ₹10 lakhs personal accident cover – in the unfortunate event of an accidental death or permanent disability due to a sudden, unforeseen and involuntary event.

✓ You get a complimentary air accident cover of ₹1 crore.

✓ You get a complimentary travel insurance cover of USD 1200 (loss of checked-in baggage – USD 500; delay of checked-in baggage – USD 100; loss of passport and other documents – USD 300; delay in flight – USD 300)

Exclusive offers on IDFC First Credit Cards

IDFC First offers exclusive deals on shopping, travel, dining, health & wellness, entertainment and more.

Please click here to see the latest offers – IDFC First Deals & Offers.

IDFC First customer care

You get 24X7 assistance, please click here to see all available options.

IDFC First Wealth Credit Card Fees and Charges

Annual fee

Annual fee
Annual fee offers
1st year joining feeLifetime freeWelcome offers worth over ₹1000
– You get a welcome voucher worth ₹500, on spending ₹5000 or more within 30 days of card generation.
– You enjoy 5% cashback (up to maximum ₹1000), on the transaction value of your first EMI, completed within 30 days of card generation.
Renewal fee from 2nd year onwardsLifetime free

Late payment fee

Late payment fee is charged if you do not pay even the minimum amount due on your card bill, before the bill due date. You will be charged 15% of the total amount due , with a minimum charge of ₹100 and a maximum charge of ₹1300.

Finance charges

0.75% – 3.65% per month (9% – 43.8% per annum) on outstanding balances, depending on the profile of the cardholder.

Zero interest charges on cash withdrawals 

(but a cash withdrawal fee of ₹199 is charged on each cash withdrawal)

Rent and property management fee 

1% of transaction value, subject to a minimum of ₹249 per transaction. 

Important note

– GST/ other applicable taxes as per current laws, will be applicable on all fees and charges
– To view all/updated fees & charges on this card, please click here – IDFC First Credit Card Fees & Charges

Eligibility Criteria

Minimum income requirements₹36 lakhs per year
Minimum age18 years
Occupation Salaried, self-employed
Credit scorePreferably above 750

Application Process

Step-by-step guide

Online application process
The easiest way is to click here – APPLY NOW , you shall be taken to the card application page on the IDFC First Bank website. You can also visit official website of the bank and fill out the application form.

Steps –
– Fill out the online application form with basic personal details
– Fill out additional details along with basic documents details
– Verification and opening of card
Offline (face to face)  application processYou can visit any of the nearest branches of the bank and talk to an executive regarding the process.
Tracking your application statusClick here to track the status of your IDFC Credit Card application.

Necessary documents and verification

Required documents
– PAN card
– Copy of Aadhaar card (with first 8 digits masked) or any valid government address proof
– Income documents : salary slip, income tax return etc.

In addition to these, you may be asked to provide additional documents on a case to case basis.