Friends, I know that you know something about credit cards, but there are many things that you don’t know even when you are using credit cards, but you will get to know them and through this, your knowledge and usage will increase in a good way. If you are thinking for applying Credit Card from IDFC First bank or any other bank, then this topic is very important for you. I am going to tell you the secret about some such credit cards which you may not have seen. We are going to know about the IDFC credit card benefits, know about Credit Card Hidden Charges, and what are the disadvantages of it and If you’re looking for a complete review of credit cards and their benefits and charges, you’ve come to the right place. In this article, we’ll take a look at everything you need to know about credit cards, from how they work to the different types of cards available. We’ll also discuss the benefits and charges associated with credit cards, so you can make the best decision for your financial needs.
-What you will know in this article?
1. idfc credit card complete review
2. idfc credit card benefits
3. idfc credit card charges
4. idfc credit card: how it works
5. idfc credit card advantages
6. idfc credit card disadvantages
7. idfc credit card pros and cons
8. idfc credit card verdict
9. idfc credit card FAQs
First, let’s know about the benefits.
IDFC Credit Card Benefits.
1 – Lifetime Free Credit Card.
First let me tell you, as you know by the name, this is a lifetime free credit card which means you do not have to pay any joining fee here, you do not have to pay any annual maintenance charge, which means the card is absolutely free for you From when you join,as long as you keep using it for a lifetime, it will be absolutely free.
2 – Reward points will never expire. LIFETIME REWARD POINTS.
* 6x reward points on online spending.
10 times reward points on monthly spending above Rs 20000.
* 10x reward points on all birthday spend.
* Also you can shop using reward points.
Another bumper feature of this card is that the reward points you get here are never-ending. Other cards in this industry give you reward points in general, so the condition is that 1 month For 2 months or a maximum of 6 months, you can redeem those reward points on those cards and if you do not redeem those reward points within 6 months, if you do not use them then those reward points will expire, But here whatever reward points you will get under idfc first credit card. They will never expire lifetime, they will keep running and the special thing about the reward points is if you spend more than Rs 20,000 in a month using this card, then here you can get The reward points of 10 times i.e. 10X.and by usinWith those reward points, you can buy any item anytime.
3 – Interest on cash withdrawal from credit card
* Interest-free cash withdrawal Credit Card.
* There is No interest rate on cash withdrawals up to 48 days.
You must have seen that if you are using a credit card, and you withdraw cash from the ATM, you must have to pay interest from the first day of withdrawal, but here on this credit card, you do not have this. Here, even if you withdraw cash from ATM, you do not have to pay any money for 48 days, after 48 days you will have to pay interest and if you deposit that money before 48 days then you will not have any money.in this way, where you get a limit of 48 days, you do not have to pay any interest on cash withdrawal.
Friends, in other banks’ credit cards, the fee for cash withdrawal is 500 rupees, but here you have to pay only 250 rupees. You can also do cash withdrawals by paying fees of only Rs.250. also, this is a global card that you can use this card worldwide.
Now, what is EMI?
EMI means, monthly payment i.e paying the loan amount in monthly installments.
4 –Idfc Credit Card Emi Interest Rate
* EMI and interest rate from 9 to 15% only
The scene of interest rates starts from 9% and goes up to 42%, There is no other credit card anywhere like this. For other bank interest rates for a credit cardis starts from direct 36%, so here you have to pay can be only between 9% to 15%.in this way you get too low interest here.
5 – Refer and Earn from idfc first credit card.
You can also earn money by sharing this Card with your friends and family members. Suppose you have taken a card. and shared a referral link with your friends and family members, and if they successfully get a credit card from your link and they do the first transaction by using this card then you will get a referral amount of 500 rupees which is currently offered by idfc first bank and they also get 500 rupees.
6 – Your favorite photo can be printed on the card.
* By using this card, you can also get your own photo printed on this card, by paying one-time fees of just Rs 500 only.
7 – You can split your expenses above Rs 2500 in EMI. Convert expenses into EMIs, above just only Rs 2500 of transaction.
You can also split your expenses here, as there are other challenger cards in the market nowadays, like unique cards, slice cards, and other pay-later cards have also arrived, you get similar features here, that is if you make any expenditure above Rs 2500, then you can split it into EMI. In EMI you will get 3 months to 6,9,12 months up to 36 months tenure that is if you make any big expenditure, then you can pay it within just 3 years in monthly installments. If you are able to make the repayment in such a way you also get a very long tenure. Here, in a way, you are getting the features of all three credit cards, personal loans, and paylater cards inside this card. Now if you make the first EMI within 90 days, that is, if you make a major transaction within 90 days, increase by 2500 and make it in EMI, then you also get a cashback of 5% which is can be Maximum up to 1000 Rs.
Now we will know about charges of credit card.
hidden charges in credit card. (charges of idfc credit card.)
1 – What is Overlimit in credit card? Overlimit charge in idfc credit card.
* Minimum Rs. 500 To Maximum 2.5%.
What is Overlimit fee in credit card ?
This means, suppose you have got a limit of Rs 50,000, and you have spent Rs 55,000, then your over limit amount becomes Rs 5000.On that 5000 Rs, you will have to pay a 2.5% one-time charge, this charge will be a minimum of 500 Rs, and the maximum amount is up to 2.5% of your over-limit amount.
2 -EMI charges of idfc credit card.
* Minimum Rs. 100 To Maximum 1% .
What is EMI charges On Credit Card ? – Suppose you have spent 10000 Rs. and you convert it into EMI, then you will have to pay 100 rupees ie 1% amount, then your amount gets converted into EMI. It is not that all these charges are levied only on this card, those other credit cards also levy charges, the only difference is that who has more and whose has less.
3 -What is Overdue charges ? An overdue charge of idfc first bank credit card.
* Minimum Rs. 100 To Maximum Rs. 1250.
If you late your EMI or your due amount, which I will not recommend to you at all, please keep in mind that whatever amount you make, you should repay it before the due date because if you are not able to repay your loan amount before the due date, then in that case all the credit cards impose a lot of penalties on you and a lot of overdue interest. And now here again it comes with a discount i.e. here you have to pay Rs 100 to Rs. 1200 one time the late fee charge.
4 – What is Overdue interest rate ? An overdue interest rate of idfc first bank credit card.
* Low Overdue interest rate – 4%
Suppose, if you spend 10000 Rs and deposited 3000 Rs. earlier, now you are saving 7000 Rs. if you assume these 7000 Rs. were to be paid on X date but If you did not pay these 7000 Rs. on the date, then whenever you pay this amount from X to Y date, then interest is charged on these 7000 Rs. which is called overdue interest.
Now this overdue interest rate on IDFC FIRST BANK CREDIT CARD is 4%.While other cards charge 5%,7% from you. So in this way, the hidden charges that come under this credit card are also very less.
ELIGIBILITY CRITERIA FOR CREDIT CARD
IDFC Credit card eligibility.
Now let’s talk about eligibility for this and how can you get it easily.
1- If you are a salaried person, then the age should be between 21 to 60 years.
2 – If you are a Self Employed person then the age should be between 25 to 65 years.
3 – Credit score should be more than 710 with a clean past record.
4 – If your monthly salary is Rs 25000 or more i.e. you get a salary slip, if your salary is Rs 25000 or more then you can get this card very comfortably with two salary slips.
5- If you have your own business and you fill ITR above 5,00,000 RS, then you can still get this card.
6 – If you use any other bank’s credit card, then you can also get this card made by providing its statement.
7 – If you have a business, you have a shop and you fill the GST return, then you can get this card by providing GST returns.
even after applying the GST returns. apart from this, there are many other eligibility criteria so you have to give proof of income.
And by using them, you can get this card made very comfortably.
8 – Document Required For Credit Card – PanCard, Adhar Card & Income Proof.
If you are thinking of applying for this card, then you can request it blindly because there is no other credit card providing the same benefits and discounts.
Note – This article is posted on Nov 2022. if bank makes any changes in future then plz check out here to know more in details.
2 thoughts on “IDFC Credit Card.The Complete Review 2022.”
Im pretty pleased to discover this great site. I need to to thank you for ones time just for this wonderful read!! I definitely enjoyed every part of it and i also have you book-marked to see new things in your website.
thank you dear.