IDFC Bank Credit Cards are usually popular because their first cards were lifetime-free. However, many banks have been instituting new limitations on the product features, asking for minimum spending to activate them. One of the key features put under a paywall is the airport lounge access feature, which costs banks a significant amount of money. However, the other lounge access to railway lounges, a feature essentially unique to IDFC First Bank Credit Cards.
IDFC Bank institutes minimum spending for railway lounge access.
IRCTC Executive Lounge
With the IDFC First Bank Credit Cards (Mayura, Ashva, First Select, First Wealth, Millennia, Classic, SWYP), a limited number of complimentary trips to the Railway lounges are provided over the year. The following lounges are included.
According to a new announcement, IDFC First Bank will require a minimum spend of INR 20,000 in the previous calendar month to be eligible. The new statute will take effect in March 2025, and the notification will go live on February 20, 2025.
But that is not the only change that has been notified. There are other updates from IDFC First Bank on an extensive range of their credit cards:
- Standardisation of Statement and Payment Dates: The statement date for FIRST Millenia, FIRST Wealth and FIRST SWYP Credit Cards will be revised to the 20th of each month. The payment due date will be 15 days from the statement date.
- 1% Fee on Education Fee Payments via Third-Party Platforms: Much like the other card issuers, IDFC First Bank will now levy a 1% fee (minimum INR 249) for education fee payments made through third-party platforms such as CRED, PayTM, Cheq, MobiKwik, and others. This fee will not apply to payments made directly through the school or
college’s official website or at their POS (Point of Sale) machines. Reward points on these payments will be earned per the card variant’s reward structure. - Fuel Fee and Fuel Surcharge Waiver restructured: A 1% fee on total fuel spends will be applied if fuel spends exceed INR 30,000 in a statement cycle. For instance, total fuel spending of INR 10,000, or even INR 30,000 in a statement cycle, will not attract a fee. However, if the total fuel spend of INR 40,000 is made in a statement cycle, it will attract a fee of INR 400 (1% fee) + taxes. The fuel surcharge waiver will be capped at INR 300 per statement cycle for Ashva, Mayura, and FIRST Wealth Credit Cards.
- Add-On Card Fee: Being one of the first in the industry to do this, IDFC First Bank will start charging a joining and annual fee of INR 499 ++ for add-on cards applied after February 20, 2025. This fee is already being charged for the metal credit cards.
- Card Replacement Fee: A card replacement fee of INR 199 ++ will be charged for all cards with the Image Personalisation feature. The replacement fees remain unchanged for Metal Credit Cards (Ashva, Mayura, and FIRST Private Credit Cards) and Digital Credit Cards (FIRST Digital and FIRST EA₹N Credit Cards).
- Image Personalisation Fee: IDFC FIRST Bank allows its cardmembers to design their credit cards with a favourite photo or a picture from its ready-made gallery. For cards with the Image Personalisation feature created on or after February 20, 2025, a joining and annual fee of INR 499 ++ will apply.
Bottomline
IDFC First Credit Cards will update many of the fees on its free and paid credit cards, primarily to cover the costs of the add-on and replacement credit cards in its free credit card range. Railway Lounge access will now be linked only to active cards spending over INR 20,000 monthly. All the new updates will take effect on or after February 20, 2025.
What do you make of the new updates on IDFC First Bank Credit Cards?
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