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Are you someone who loves to frequently travel, dine out, and earn reward points through credit card usage? If so, the IDFC First Select Credit Card is just what you need! This credit card is not only lifetime-free, but it also offers access to 4 railway lounges every quarter. With its reward rate ranging from 0.6% to 2%, the card is ideal for those who desire to accumulate reward points while enjoying the benefits of railway lounges. Want to know more? Keep reading to see if this credit card is ideal for you. Read on to know more. 👇
Features & Benefits
Fees & Charges
| Fees/Charges | Amount | Description |
|---|---|---|
| Joining Fee | ₹1,499 | Lorem ipsuim |
| Renewal Fee | ₹1,499 (Reversed on annual spends of Rs. 2 lakh) | Lorem ipsuim |
| Finance Charges | For Statement Balance Up to Rs. 500: Nil Rs. 500 Rs. 1,000: Rs. 400 Rs. 1,001 Rs. 10,000: Rs. 750 Rs. 10,001 Rs. 25,000: Rs. 950 Rs. 25,001 Rs. 50,000: Rs. 1,100 Rs. 50,001 and above: Rs. 1,300 |
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All About the Card
Overview
The IDFC FIRST Select Credit Card is a great choice for people who want a credit card that doesn’t charge an annual fee and offers a mix of rewards and benefits. It has many good features, such as free lifetime status, competitive rewards for online spending, and access to airport lounges for travelers. However, if you mostly make purchases offline or want rewards on fuel and EMI transactions, this card may not be the best option for you.
In the end, whether this card is right for you depends on your spending habits and how often you travel. If it aligns with your needs, the IDFC FIRST Select Credit Card can be a valuable and cost-effective solution. But if you want higher rewards on different spending categories, you may want to consider other credit cards such as the SBI SimplyClick Credit Card or the HDFC Bank Diners Club Rewards Credit Card.
Highlights
| Key Highlights | Description |
|---|---|
| Best Suited for | Fuel Purchases |
| Annual fee | ₹1,499 (Reversed on annual spends of Rs. 2 lakh) |
| Additional Benefits | Welcome Bonus Up to Rs. 500: Nil 6,000 bonus reward points worth Rs. 1,500 on the payment of joining fee Best Feature 7.25% value back on your fuel expenses 25X reward points = 6.25% reward points + 1% fuel surcharge waiver on every transaction up to Rs. 4,000 Maximum 2,500 reward points can be accumulated per billing cycle Maximum surcharge waiver of Rs. 100 in a statement cycle, which is equivalent to an annual savings of Rs. 1,200 1 reward point = Re. 0.25 |
Benefits
With this card, you can save on multiple categories, including groceries, lifestyle, entertainment and more. However, the maximum benefits are offered only on fuel transactions. Below mentioned are some of the major BPCL SBI Card Octane benefits:
7.25% Value-back on Fuel Purchases
- 25X reward points = 6.25% reward points + 1% fuel surcharge waiver on every transaction up to Rs. 4,000
- Maximum 2,500 reward points can be accumulated per billing cycle
- Maximum surcharge waiver of Rs. 100 in a statement cycle, which is equivalent to an annual savings of Rs. 1,200
- 1 reward point = Re. 0.25
Up to 25X Reward Points
You can earn reward points on your transactions as per the below details:
- 25 reward points on every Rs. 100 spent at BPCL fuel, lubricants & Bharat Gas website and application
- 10 reward points on every Rs. 100 spent at groceries, departmental stores, movie tickets and dining
- 1 reward point for every Rs. 100 spent on non-fuel retail purchases, excluding mobile wallet upload & non-BPCL fuel spends
- 4 reward points = Re. 1 | 1 reward point = Re. 0.25
Welcome Benefits worth Rs. 1,500
6,000 bonus reward points worth Rs. 1,500 on the payment of joining fee. These reward points are credited within 30 days of the payment of joining fee. The reward points can be redeemed instantly against fuel purchases at BPCL.
Other Benefits
Apart from the above-mentioned benefits, you can also avail the below BPCL SBI Card Octane benefits:
- Milestone Benefit: E-gift voucher worth Rs. 2,000 from Aditya Birla Fashion/ Yatra/ Hush Puppies/ Bata on annual spends of Rs. 3 lakh.
- Renewal Fee Reversal: Annual fee reversal on spending Rs. 2 lakh in a year.
- Complimentary Lounge Access: 4 complimentary visits per calendar year to domestic VISA lounges in India (Maximum 1 visit allowed per quarter).
- Fraud Liability: Complimentary fraud liability cover of Rs. 1 lakh.
- EMI Conversion: Purchases worth Rs. 2,500 or more can be converted into easy EMIs via the Flexipay option.
Reward Points
IDFC FIRST Select Credit Card offers decent rewards on purchases. Also, the reward points come with no expiry date and relatively easy redemption options. Users will get the following:
- 10X Reward Points on incremental purchases greater than ₹25,000 per billing cycle
- 10X Reward Points on Birthday
- 6X Reward Points on all online purchases
- 3X Reward Points on all offline purchases
Reward Points earning and a 10X threshold are not applicable for Fuel, EMI, Insurance transactions, and Cash Withdrawals.
How to Apply?
If the user is an offline person, just head over to the nearest IDFC FIRST Bank branch with the required documents, and fill out a physical application form.
For those who prefer the convenience of online applications, simply follow these simple steps:
Step 1: Visit spsp.in and navigate to the ‘All Credit Card’ section.
Step 2: Select the IDFC FIRST Select Credit Card from the available options and click on ‘Apply Now’.
Step 3: Fill out the online application form with personal and financial details.
Step 4: Upload the required documents, such as identity proof and income proof.
Step 5: Submit the application and wait for the bank’s decision.
It’s always a good idea to carefully review the terms and conditions of the credit card before applying and to consult with a financial advisor or the bank in case of any questions or concerns.
Eligibility Criteria
Applicants must be at least 18 years of age and have a steady source of income to be eligible for a credit card.
Documents Required
- Proof of identity: 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.
- Proof of Address: Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 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.
- Proof of Income: Latest one or two salary slips (not more than 3 months old), latest Form 16, and the last 3 months’ bank statement.
Who Should get this Card?
Whether or not you should get an IDFC First Select credit card depends on your individual needs and spending habits. The card provides commendable rewards on all transactions, particularly for those who spend ₹25,000 or more. If the user is a decent spender who can charge most of their expenses to a credit card, they can effectively maximize the card benefits. Despite the low reward rate of ₹0.25 per point, the card’s unlimited reward points without any cap or expiry limit make reward point utilization hassle-free.
Notably, the card offers a low forex markup; however, it lacks any other international travel benefits, leaving the premium travel benefits bar unmatched. Here are some specific examples of people who might benefit from the IDFC FIRST Select Credit Card:
- Business travellers who frequently fly domestically
- Families who travel frequently and want to enjoy airport and railway lounge access
- People who eat out and go to the movies often
- People who are not looking for all-round benefits
- People who are looking for a credit card with no annual fees or joining fees
