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IDFC First Select credit card is an entry-level premium credit card with lifestyle and reward-centric features. It comes with privileges like accelerated rewards on birthdays and incremental spending above ₹ 20000. The card also has certain unique features like interest-free ATM cash withdrawal for upto 48 days.
It is a good card for those looking to earn high rewards and avail of various VISA Signature program benefits. Here is our review of the IDFC First Select credit card where we deep dive into the pros, cons, rewards, cashback, and more. We attempt to answer whether this is the card for you or not.
Fees and Charges
| Lable | Fees |
|---|---|
| Joining Fees | Zero |
| Annual Fees | NIL (Lifetime Free credit card) |
| Interest Rate | Varies from 0.75% to 2.99% per month based on customers (9% to 36% per annum) |
| Markup Fees | 1.99% applicable on all foreign transactions |
Pros and Cons
Rewards and Cashbacks
- 4 complimentary Railway lounge visits per quarter
- 10X reward points on spending over ₹ 20000 per month and on birthday purchases
- 6X reward points on online spending and 3X points
- 4 complimentary domestic airport lounge visits per quarter
- Complimentary air accident insurance
- 10 reward points on every ₹ 100 spent on this card
- Comprehensive Travel Insurance Cover
Who Should Get an IDFC First Select Credit Card?
IDFC First Select Credit card provides features like accelerated rewards when spending crosses the limit of ₹ 20000 in a month. It offers features like complimentary air accident insurance worth ₹ 1 Crore.
Are the majority of your spending on categories like shopping (online/offline), travel, wellness, fuel, and entertainment? It would be best to try your hands on this card as it has a high reward rate and offers cashback in these categories without any monthly upper limits.
Eligibility Criteria for IDFC First Select
A. Age
21 years to 60 years.
B. Occupation
- Self-employed Individuals
- Salaried individuals
C. Income
- More than ₹ 25,000 per month
D. ID Proof (any one of the following)
- PAN Card
- Aadhaar card
- Driver’s License
- Passport
- Voter’s ID
- Overseas Citizen of India Card
- Person of Indian Origin Card
- Job card issued by NREGA
- Letters issued by the UIDAI or any other government-approved photo ID proof
E. Address Proof (any one of the following)
- Aadhaar card
- Driver’s License
- Passport
- Utility Bill not more than three months old
- Ration Card
- Property Registration Document
- Person of Indian Origin Card
- Job card issued by NREGA
- Bank Account Statement or any other government-approved address proof
F. Income Proof (any one of the following)
- Latest one or two salary slips (not more than three months old)
- Latest Form 16
- Last three months’ bank statement
G. Income Proof: Internal Policy criteria are based on bureau history, any existing Bank relationship, customer demographics, and credit exposure.
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Conclusion
Loaded with many privileges, the IDFC First Select credit card has an impressive reward rate for all transactions across various categories. Overall, it is a good fit for customers looking for a decent reward rate and domestic travelers.
It lacks high-end features like dedicated concierge services, complimentary priority pass membership, and free rounds of Golf. If you are a frequent flyer and dream of a lavish lifestyle, this card may not be your first choice. However, with it being a lifetime free card, we aren’t really complaining. It can definitely be a good addition to your wallet.
