IDFC First Classic Credit Card is a lifetime free credit card that best suits customers who are looking for zero annual fee credit cards, satisfactory rewards, and low-interest rates. It is also known as a reward credit card where the cardholder enjoys multiple benefits like reward points in categories like travel, groceries, entertainment, shopping, and many more.
Some of the top credit cards include the IDFC First Millennia Credit Card, IDFC First Select Credit Card, IDFC First Classic Credit Card, and IDFC First Wealth Credit Card. In this article, we will be introducing the IDFC First Classic Credit Card.
| Key Highlights of IDFC FIRST Classic Credit Card | |
| Annual / Joining Fee | Nil (Lifetime Free Credit Card) |
| Best Suited For | Rewards and Online Shopping |
| Key Feature | Up to 10X Reward Points that never expire |
| Reward Rate | Offline Purchases: 3% | Online Purchases: 6% |
| Welcome Benefits | Gift vouchers worth INR 500 and 5% cash back on the first EMI transaction |
Processing Fees & Charges
Below mentioned are the processing fees and charges to apply for an IDFC First Classic Credit Card:
| Particulars | Fee/Charges |
| Joining Fee | NIL |
| Annual Fee | NIL |
| Interest on Cash Advances | From 0.75% to 3.5% per month | 9% to 42% per year |
| Forex Markup | 3.5% |
| Late Payment Fee | Less than INR 100 = NIL
INR 500 = INR 100 INR 5,000 = INR 750 INR 8,000 = INR 1,200 INR 10,000 and more = INR 1,250 |
| Cash Advance Fee | INR 250 (International and Domestic) |
| Reward Redemption Fee | NIL |
| Over-limit Fee | 2.5% of the over-limit amount |
Eligibility Criteria
Below-mentioned are the eligibility criteria for applying for the IDFC First Classic Credit Card:
- The minimum age to apply for IDFC Classic Credit Card is 21 yeaINR
- The maximum age to apply for IDFC Classic Credit Card is 65 years in the case of self-employed.
- The maximum age to apply for an IDFC Classic Credit Card is 60 years old in the case of salaried employees.
- An applicant must be a citizen of India.
- An applicant must be having a good credit score of 750, or above.
- An applicant must have a stable job for 1 year.
Pros and Cons of having an IDFC First Classic Credit Card
Below-mentioned are the pros and cons of having an IDFC Bank Credit Card:
| Pros | Cons |
| Lifetime free | Welcome gift voucher provided on spending INR15,000 within 90 days of card set-up |
| Up to 2.5% return rate which is good for an entry-level card | Interest-free cash withdrawals are available for 48 days only |
| Interest-free cash withdrawal from ATMs | – |
| No reward redemption fee | – |
Documents Required
Below-mentioned is the list of documents required to apply for the IDFC First Classic Credit Card:
| Type of proof | List of accepted documents |
|---|---|
| Address proof |
|
| Income proof |
|
| Identity proof |
|
| Other mandatory documents |
|
How to Apply for IDFC First Classic Credit Card?
Below mentioned are the steps to apply for an IDFC First Classic Credit Card:
Step 1: Open the official website of IDFC Bank.
Step 2: Click on the tab “Credit Cards”.
Step 3: Now click on the option “Classic”.
Step 4: Click on “Apply Now”.
Step 5: Proceed further by filling in all the required details.
IDFC Classic Credit Card Payment
Below-mentioned are the different ways to make payment of an IDFC First Classic Credit Card:
- Via Internet Banking
- Via UPI Payments
- Via Net Banking of Another bank or Debit Cards
- Via IMPS and NEFT where IFSC Code is IDFB0010225.
Features of IDFC Classic Credit Card
Below-mentioned are the features of the IDFC First Classic Credit Card:
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Low Interest Rates:
The interest rates start as low as 9% on an annual basis.
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Interest-free cash withdrawal up to a specified period:
Get a cash withdrawal from the ATM whenever cash is required on an immediate basis. It is interest-free for up to 48 days.
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No Renewals required:
As it comes for a lifetime, there is no requirement to reapply or get the card reissued.
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Wide Range of Rewards:
Get a variety of rewards like joining rewards, fuel rewards, travel rewards, entertainment rewards, insurance rewards, etc.
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Minimal Fees & Charges:
It has the most reasonable fees and charges as per market standards.
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Simple to meet Eligibility:
It can be availed of with easy-to-meet criteria of optimum credit score along with the requisite employment status.
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Minimal Documentation:
To receive the card just provide identity, address, and income proof.
Rewards and Benefits:
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Welcome Benefits:
- Get a Welcome Gift Voucher of ₹500 on spending INR15000 within 90 days from the date of issuance of the card.
- Get 5% Cashback on the first EMI Transaction made within 90 days from the issuance of the card.
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Rewards:
- Get the Reward Points multiplied by 10 times on all the transactions made above INR 20000.
- Get 3 times Reward Points on all offline transactions.
- Earn 6X Reward Points on all the online spending.
- Enjoy 10X reward points on your birthday.
- There is no maximum limit on the reward points earned through the IDFC First Classic Credit Card.
- There is no expiry of the reward points and they can be redeemed anytime.
- Earn 1 reward point on the expenditure of INR 150 each.
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Other Privileges:
- Get a Discount of 25% on movie tickets every month having a maximum limit of INR 100.
- Get 4 Complimentary Railway Lounge Visits every quarter.
- Get a waiver on Fuel Surcharge of up to INR 200 every month at the refilling stations.
- Get a Personal Accident Cover of up to INR 2 lakhs.
- Get a Complimentary Lost Card Liability Cover of ₹25000.
- Up to more than 300 Merchant offers around the year.
- Get 20% off at more than 1500 restaurants.
- Get a discount of 15% in more than 3000 health and wellness outlets.
- Enjoy a Free Road Side Assistance of INR 1399.
- Enjoy interest-free cash withdrawals from ATMs for up to 48 days only
- There are no Add-on Charges
- Get an APR of 0.75% per month which makes 9% per annum on this IDFC First Classic Credit Card.
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EMI Conversion
- Convert transactions of INR 2,500 and above into EMIs with the help of the IDFC First Bank Mobile app.
- Also, an instant EMI conversion is available on the IDFC First Bank OTP page
- Transfer other credit card bills also so as to afford the payment at lower interest.
