The IDFC First Millennia Credit Card is a feature-rich credit card that caters to the needs of young professionals and individuals who are starting their financial journey. With its attractive rewards program, competitive interest rates, and a host of benefits, this credit card has gained popularity among users. Let’s explore some of the key features and benefits of the IDFC First Millennia Credit Card:
1. Welcome Benefits: As a new cardholder, you can enjoy exciting welcome benefits such as reward points or cashback on your initial spends, making it a rewarding start to your credit card experience.
2. Reward Points: The IDFC First Millennia Credit Card offers a rewarding rewards program, where you can earn reward points on every eligible transaction. These reward points can be redeemed for a wide range of options, including vouchers, merchandise, and more.
3. Milestone Benefits: The credit card provides additional benefits as you achieve specific spending milestones. These benefits may include bonus reward points, cashback, or other exclusive offers, enhancing the overall value of your card.
4. Fuel Surcharge Waiver: With the IDFC First Millennia Credit Card, you can enjoy a waiver of fuel surcharge at participating fuel stations, helping you save on your fuel expenses.
5. Contactless Payments: The card comes with contactless payment technology, allowing you to make quick and secure transactions by simply tapping your card at contactless-enabled payment terminals.
6. EMI Conversion: If you have large purchases, you can convert them into easy monthly installments using the EMI conversion feature offered by the card. This helps you manage your expenses more effectively and enjoy the convenience of affordable repayments.
7. Easy Bill Payments: The IDFC First Millennia Credit Card provides a seamless bill payment experience, allowing you to pay your utility bills, mobile bills, and other payments conveniently through the card’s platform.
8. Online and Mobile Banking: The card is supported by a robust online and mobile banking platform, giving you easy access to manage your card account, track your transactions, view statements, and make payments anytime, anywhere.
Benefits and Privilege
Here are the key features and benefits of the IDFC First Millennia Credit Card:
– Welcome Voucher: Get a welcome voucher worth ₹500 when you spend ₹15,000 or more within 90 days of card generation.
– Cashback on First EMI: Enjoy 5% cashback (up to ₹1000) on the transaction value of your first EMI within 30 days of card generation.
– Railway Lounge Access: Receive 4 complimentary railway lounge visits per quarter.
– Roadside Assistance: Avail complimentary roadside assistance worth ₹1,399.
– Fuel Surcharge Waiver: Enjoy a fuel surcharge waiver of 1% at all fuel stations across India, up to ₹200 per month. (*Applicable on transaction values between ₹200 & ₹5000)
– Merchant Offers: Access 300+ merchant offers throughout the year, including up to 20% discount at 1500+ restaurants and up to 15% discount at 3000+ health & wellness outlets.
– Insurance Coverage: Benefit from a personal accident cover of ₹2,00,000* and a lost card liability cover of ₹25,000.
– EMI Conversion: Convert transactions* above ₹2,500 into easy and convenient EMIs using the mobile app.
– Instant EMI Conversion: Enjoy instant EMI conversion for online transactions* above ₹2,500 on the bank’s OTP page.
– Balance Transfer: Easily transfer balances from your other bank credit cards with the balance transfer privilege*.
Please note that certain terms and conditions may apply to these features and benefits. It is advisable to visit the official IDFC First Bank website or contact their customer service for more detailed information and eligibility criteria.
Fees and Charges
The IDFC First Millennia Credit Card offers the following favorable charges and benefits:
– No Annual Fee: This credit card comes with no annual fee, making it a lifetime free credit card.
– Low Interest Rates: Benefit from low interest rates ranging from 0.75% to 3.5% per month (9% to 42% per annum) on outstanding balances.
– Interest-Free Cash Withdrawals: Enjoy interest-free cash withdrawals on domestic and international ATMs for up to 48 days. A minimal Cash Advance Fee of only ₹199 per transaction is applicable.
– Over-Limit Charges: For any over-limit amount, an OVL charge of 2.5% is levied, subject to a minimum charge of ₹500.
– Late Payment Fee: In case of late payment, a fee of 15% of the Total Amount Due is applicable, with a minimum of ₹100 and a maximum of ₹1250.
– Forex Markup: For international transactions, a forex markup fee of 3.5% is applicable.
These charges and benefits contribute to the affordability and value of the IDFC First Millennia Credit Card. It is advisable to review the terms and conditions provided by IDFC First Bank for a comprehensive understanding of the fees and charges associated with the credit card.
Reward Program
The IDFC First Millennia Credit Card offers a rewarding program with the following features:
– 10X Reward Points: Earn 10X Reward Points on incremental spends above ₹20,000 per month and on spends made on your birthday.
– 6X & 3X Reward Points: For online and offline purchases, earn 6X and 3X Reward Points respectively for spends up to ₹20,000 per month.
– Unlimited Reward Points: The earned Reward Points have no expiration date, providing you with the flexibility to accumulate and redeem them at your convenience.
– Instant Redemption: Utilize your Reward Points to make instant payments for online or in-store purchases.
– Reward Points Conversion: Every 1 Reward Point is equivalent to ₹0.25, and you earn 1 Reward Point for every ₹150 spent.
– Exclusions from Reward Program: Fuel, insurance, EMI transactions, and cash withdrawals are not eligible for the Reward Points program.
– Rental and Property Management Transactions: While these transactions are not part of the 10X reward program and threshold calculations, they still earn 3X reward points.
– Convenience Fee for Reward Points Redemption: Starting from 1st October 2022, a convenience fee of ₹99 (plus applicable taxes) will be charged for redeeming Reward Points.
These features make the IDFC First Millennia Credit Card a rewarding option for your everyday spending, with various opportunities to earn and redeem Reward Points. Please refer to the terms and conditions provided by IDFC First Bank for complete details on the reward program and any associated fees.
Frequently Asked Questions (FAQs) about the IDFC First Millennia Credit Card:
1. Is there an annual fee for the IDFC First Millennia Credit Card?
No, the IDFC First Millennia Credit Card is a lifetime free credit card, which means there is no annual fee associated with it.
2. How can I redeem the Reward Points earned with the card?
You can use the Reward Points to make instant payments for online or in-store purchases.
3. Are there any exclusions from the Reward Points program?
Yes, the Reward Points program does not apply to fuel purchases, insurance payments, EMI transactions, and cash withdrawals.
4. Do the Reward Points expire?
No, the Reward Points earned with the IDFC First Millennia Credit Card do not have an expiration date, giving you the flexibility to accumulate and redeem them as per your preference.
5. What is the conversion rate for Reward Points?
Every 1 Reward Point is equal to ₹0.25. You earn 1 Reward Point for every ₹150 spent.
Conclusion:
The IDFC First Millennia Credit Card is a beneficial choice for individuals looking for a credit card that offers rewards and benefits. With features like 10X Reward Points, unlimited Reward Points, and the ability to redeem them instantly, this card provides value for your everyday spending. The card also offers low charges, including no annual fee and competitive interest rates. However, it is important to review the terms and conditions provided by IDFC First Bank to fully understand the features, eligibility criteria, and any applicable fees associated with the card.
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