Our Money Guide

By: OurMoneyGuide || Last updated on: April 28, 2024

The IDFC First Millennia Credit Card is a lifetime free entry level card, and comes with a range of benefits and offers. A minimum income of ₹3 lakhs per year is required to get this card.

Lifetime-free credit cards are a popular choice among customers who want simplicity and do not want to do a detailed cost benefit analysis of their credit card.

Brief Summary

4.0 / 5

Our View

The IDFC First Millennia Credit Card is best for those who want a lifetime free card. Such cards are attractive for those who do not want to do a cost benefit analysis of various cards, and for those who do not want to keep a track of their annual card spends (since many cards offer annual fee waivers based on yearly card spends).

However, such cards usually come with a comparatively lower reward rate.

IDFC First Millennia Credit Card

on IDFC First Bank website

IDFC First Millennia Credit Card

Special Benefits

Lifetime free card

Other Benefits

Complimentary railway lounge access

Minimum Income

Not specified

Annual Fee

Zero

Annual Fee Offers

Welcome offer worth over ₹500

IDFC First Millennia Credit Card : Summary Table

Lifetime free card – zero annual feeNo annual fee on your card

Welcome Benefits:
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.
0.50% benefit on all card spends – till ₹20,000 monthly spend (3X)You earn 2 reward points worth 50 paise , on every ₹100 you spend on your card (since 1 reward point = ₹0.25 or 25 paise).

Note :
You earn no reward points on fuel, EMI transactions & cash withdrawals
– You earn 0.16% benefit on insurance spends & utility bill payments : You earn 0.66 points worth 16 paise , on every ₹100 you spend on insurance spends & utility bill payments.
0.16% benefit – on insurance spends and utility bill payments (X)You earn 0.66 reward points worth 16.6 paise , on every ₹100 you spend on your card in this category (since 1 reward point = ₹0.25 or 25 paise)
1.66% benefit on all card spends – only on spends above ₹20,000 monthly spend (10X)You earn 6.66 reward points worth ₹1.66 (one rupee sixty six paise) , on every ₹100 you spend in this category (since 1 reward point = ₹0.25 or 25 paise)

Note – rental & property management related spends, insurance spends, education spends, wallet loads, government spends, and utility bill payment spends will not be a part of 10X reward program and 10X threshold calculations.
1.66% benefit on ALL spends – on your birthday (10X)You earn 6.66 reward points worth ₹1.66 (One rupee sixty six paise) , on every ₹100 you spend on your card (since 1 reward point = ₹0.25 or 25 paise)
Complimentary railway lounge access – upto 4 times per quarterYou get 4 free railway lounge visits per quarter
Movie ticket discount– You get 25% discount (up to ₹100 discount), on movie tickets – on Paytm Mobile App. The minimum booking requirement is one movie ticket.
– This is valid once per month.
Fuel surcharge waiverYou 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 ₹20,000 per month (since the waiver amount is capped at ₹200 per monthly card statement cycle).
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, visit here.
Various insurance covers –
– Lost card liability cover of ₹25,000
– Personal accident cover of ₹2 lakhs
– You get a ₹25,000 insurance cover for lost card liability, counterfeit/skimming/phishing and online fraud protection – for transactions on your IDFC FIRST Bank Credit Card.
– You receive a ₹2,00,000 personal accident cover – in the unfortunate event of an accidental death or permanent disability due to a sudden, unforeseen and involuntary event.
Attractive program on cash advances
– No interest charges on cash withdrawals
– ATM cash withdrawal limit : 100% of fixed deposit value
– Zero interest charges on cash withdrawals, but a cash withdrawal fee of ₹199 is charged on each cash withdrawal
Minimum income requirementsMinimum income of ₹3 lakhs per year

Pros and Cons

Pros

  • The card is a good choice for those who value the simplicity of a lifetime free card
  • The card offers a range of benefits like complimentary roadside assistance, complimentary insurance covers, complimentary railway lounge access which is a unique benefit not available on most other cards

Cons

  • Low reward rate on card spends

Comparison With Other Credit Cards

Features
IDFC FIRST WOW! Credit Card
Our Rating
       
APPLY NOW
Reward Rates 0.66%

Other benefits Fuel surcharge waiver of 1%
Annual Fee Nil

Annual Fee Offers Nil
Minimum Income Not Specified

Full Review: A Detailed Review of the IDFC First Millennia Credit Card

IDFC First Millennia Credit Card

Features & Benefits of the IDFC First Millennia Credit Card

Lifetime free card

On monthly card spends upto ₹20,000 : 0.50% benefit on all card spends (3X)

You earn 3 reward points on every ₹150 you spend on your card, meaning 2 reward points (worth ₹0.50) on every ₹100 you spend – 0.50% benefit.

Note :
– You earn no reward points on fuel, EMI transactions & cash withdrawals.
– 0.16% benefit on insurance spends & utility bill payments : You earn 0.66 points worth 16 paise , on every ₹100 you spend in these categories. This benefit is valid on utility bill payments upto ₹20000 per month. 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 monthly card spends above ₹20,000 : 1.66% benefit on all card spends

You earn 10 reward points on every ₹150 you spend on your card, meaning 6.66 reward points (worth 1.66) on every ₹100 you spend – 1.66% benefit.

Note – rental & property management related spends, insurance spends, education spends, wallet loads, government spends, and utility bill payment spends will not be a part of 10X reward program and 10X threshold calculations.

Complimentary railway lounge access – 4 times per quarter

You get 4 complimentary visits per calendar quarter, to participating railway lounges in India.

Important points to note
Lounge facilities include 2 hours of stay, comfortable seating, buffet meal, tea/coffee, Wi-Fi, and newspapers/magazines.
Cardholders can bring one guest at no extra charge. Guests must present a valid train ticket and government issued ID. Guest access is subject to participating lounge’s terms and conditions.
Lounge access can be shared between primary and add-on cardholders

25% discount (upto ₹100) on movie tickets at Paytm

You get a 25% discount (upto maximum ₹100), on movie tickets on the Paytm mobile app. The minimum booking requirement is one movie ticket.

The offer is applicable once per calendar 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, visit here.

Fuel surcharge waiver, upto ₹200 per month

Complimentary insurance benefits – lost card liability cover || personal accident cover

Exclusive offers on IDFC First Credit Cards

IDFC First customer care 

IDFC First Millennia Credit Card Fees and Charges

Annual fee

Annual feeAnnual fee offers
1st year joining fee₹0Welcome 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.
Renewal fee from 2nd year onwards₹0Zero

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. Please see below table as an example –

Finance charges
0.75% – 3.50% per month (9% – 42% per annum), 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

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 Millenia Credit Card Fees & Charges

Eligibility Criteria

Minimum income requirementsMinimum income of ₹3 lakhs per year is required
Minimum age18 years
Occupation Salaried, self-employed
Credit scorePreferably above 750
Residential statusResident of India

Application Process & Tracking Your Application Status

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
For successful applicants, the process takes 15-20 minutes, as per the IDFC website.
Offline (face to face)  application processYou can visit any of the nearest branches of the bank and talk to an executive regarding the process.
Approval timeline and process– In most cases, the credit card decision would be communicated within 2-7 working days.
– In certain cases, it could take longer, especially if the bank wants more information and documents from you.
Click 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.

Conclusion

The IDFC First Millennia Credit Card is a good option for those specifically looking for a lifetime free credit card, and the simplicity that comes with it. The card offers a range of benefits as described above.

You may however want to take a look at credit cards which offer better rewards for most of your spending needs like shopping, travel, fuel, utility bill payments etc.

Apply Now

on IDFC First Bank website

Frequently Asked Questions

How can I redeem the reward points earned with the IDFC First Millennia Credit Card?

You can redeem your accumulated rewards easily by visiting IDFC First Bank’s rewards redemption portal or contacting customer service.

What should I do if I have a query or need assistance with my IDFC First Millennia Credit Card?

For any queries or assistance related to your IDFC First Millennia Credit Card, please contact the IDFC First Bank’s customer service helpline or visit their branch. They can assist you with your concerns or provide necessary information.

Is there a joining or annual fee associated with the IDFC First Millennia Credit Card?

No, there is no joining or annual fee for the IDFC First Millennia Credit Card, making it a cost-effective option for cardholders.

How can I avail the welcome gift voucher with the IDFC First Millennia Credit Card?

To receive the welcome gift voucher, you must spend ₹5,000 or more within 90 days of card setup. Once you meet this spending requirement, you will be eligible for the welcome gift voucher.