IDFC First Bank has been the latest entrant in upping the game for its credit card and debit card products, trying to match up or exceed the HDFC Bank SmartBuy product proposition, where you can earn and burn points, amongst other things, for travel bookings. ICICI Bank has iShop, which is recent as well, and Axis Bank has TravelEdge, which used to be a darling for people back in the day.

IDFC First Bank adds new bonus points to its entire credit and debit card range to promote travel bookings.

In 2024, IDFC First Bank launched its new travel booking product, which was either in Beta or IDFC First Bank did not really market it very well. Now, the Bank has decided to throw a lot of points on the product, which instantly makes it one of the better products to buy tickets in cash and redeem points.

Flights

Here are the bonus points when you use your IDFC First Bank products to book flights via the IDFC First Bank App (not the website):

• Lifetime free IDFC Bank First Credit Cards, such as FIRST Classic, FIRST Select, FIRST Millennia, FIRST Family, FIRST Wealth, will earn 3X-10X Base and 20X Bonus Rewards per INR 150 Spent.
• LIC Classic IDFC First Bank Credit Card will earn 3X Base and 20X Bonus Rewards per INR 125 Spent.
• LIC Select IDFC First Bank Credit Card will earn 5X Base and 20X Bonus Rewards per INR 125 Spent.
• IDFC First Bank Power Card will earn 2X Base and 30X Rewards per INR 150 spent.
• IDFC First Power Plus Card will earn 3X Base and 30X Bonus Rewards per INR 150 spent.
• IDFC First SWYP will earn a bonus of 15% rewards per INR 150 spent.
• IDFC First Ashva Card will earn 5X-10X Base and 30X Bonus Rewards per INR 150 spent.
• IDFC First Mayura Card will earn 5X-10X Base and 30X Bonus Rewards per INR 150 spent.
• IDFC FIRST Private Card will earn 10X Base and 20X Bonus Rewards per INR 150 spent.

Hotels

Here are the bonus points when you use your IDFC First Bank products to book hotels via the IDFC First Bank App (not the website):

• Lifetime free IDFC Bank First Credit Cards, such as FIRST Classic, FIRST Select, FIRST Millennia, FIRST Family, FIRST Wealth, will earn 3X-10X Base and 50X Bonus Rewards per INR 150 Spent.
• LIC Classic IDFC First Bank Credit Card will earn 3X Base and 45X Bonus Rewards per INR 125 Spent.
• LIC Select IDFC First Bank Credit Card will earn 5X Base and 45X Bonus Rewards per INR 125 Spent.
• IDFC First Bank Power Card will earn 2X Base and 50X Rewards per INR 150 spent.
• IDFC First Power Plus Card will earn 3X Base and 50X Bonus Rewards per INR 150 spent.
• IDFC First SWYP will earn a bonus of 35% rewards per INR 150 spent.
• IDFC First Ashva Card will earn 5X-10X Base and 50X Bonus Rewards per INR 150 spent.
• IDFC First Mayura Card will earn 5X-10X Base and 50X Bonus Rewards per INR 150 spent.
• IDFC FIRST Private Card will earn 10X Base and 50X Bonus Rewards per INR 150 spent.

As you can note, these multiples look huge, but don’t let that get in the way of the fact that the points are not INR 1 Value, but much less. Only three cards get an elevated valuation of their points, which are the Ashva, Mayura and the invite-only Private Card. Here is how much you can expect to earn with the points on Flight bookings when you use the points for travel bookings only. Goes all the way to 20%.

For hotel bookings, the number goes even higher (this is where the commissions are fat to pass them back to you as points). As high as 40%.

Remember, IDFC First Bank has copied HDFC Bank in the inception of limits, so you can only burn 70% value (including taxes) with points for redemption (using the same TripStacc portal housed inside the IDFC First Bank App). Also, if you are burning points for a transaction, you are not earning points for it, which is unlike the HDFC Bank model. Also, you get the bonus points credited in the month after you have completed the trip, not as soon as you book, which is also unlike the HDFC Bank model.

There are also limitations on how many points you can earn and burn in a calendar month on hotels and flights.

So on an overall basis, as you can note, there is a huge opportunity if you have or sign up for an IDFC First Bank Credit Card right now. Here is the fee structure:

• IDFC First Bank Lifetime Free Cards
• IDFC First Mayura for INR 5,999 + GST per annum (INR 4,000 cashback as a welcome benefit)
• IDFC First Ashva for INR 2,999 + GST per annum (INR 2,000 cashback as a welcome benefit)

And remember, if you have an existing IDFC First Bank Credit Card relationship, you get approved for the new card with a shared limit.

Bottomline

IDFC First Bank has recently launched its bonuses on booking travel via their app, and the bonuses on the mid to high end cards are pretty massive. The added differentiation for the Ashva/Mayura and Private cards is that the points are worth a lot more when buying travel, rather than just buying things with it. At the top end, you can get 20-40% returns on your money spent on travel with the IDFC First Bank suite of cards

What is your thought about the IDFC First Bank Credit Card addition of bonuses to their travel booking portal?

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