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Let’s say Mr. Ravi, a prominent real estate owner in South India, frequently travels for business across major cities.
To enjoy comfort during travel, he uses the IDFC FIRST Bank Wealth Credit Card, which offers free domestic airport lounge access every quarter, perfectly aligning with his high-profile lifestyle and frequent flight needs.
Let’s see how many times he has been to these domestic airport lounge access:
Location of Airport Lounge Access | Month | Price | With IDFC First Bank Wealth Credit Card |
Chennai | January-March (1st Financial Quarter) | Usually, all these domestic airport lounges charge between ₹ 2,500 to ₹ 5,000, based on amenities and location. | Mr. Ravi gets completely free! |
Mumbai | January-March (1st Financial Quarter) | ||
Delhi | July-August (3rd Financial Quarter) | ||
Hyderabad | July-August (3rd Financial Quarter) | ||
Kochi | October-December (4th Financial Quarter) |
Let’s see how IDFC First Bank Wealth Credit Card benefits Mr. Ravi, through this blog, which expounds the benefits and features associated with it.
To become eligible for this luxurious credit card, Mr. Ravi adheres to the following eligibility criteria, framed by the IDFC First Bank:
Age | 21years | |
Occupation | Salaried | Self-Employed |
Income | Minimum of ₹ 36,00,000 per annum | |
Note: If the required CIBIL score is not available from the credit card applicants, the application may or may not get rejected. The bank has the right to decide regarding the sanction of this credit card.
Any one of the following documents from each category is required to process the credit card application of Mr. Ravi:
Read More – IDFC First Bank Select Credit Card
Identity Proof | Aadhaar Card, driving license, PAN card, Voter ID, or Passport. |
Residence Proof | Electricity Bill, Ration card, previous month’s bank statement, or telephone bill. |
Income Proof | Latest Payslip, Form 16, or Income Tax Return |
Disclaimer: There is a possibility that bank authorities can request the applicant to furnish the salary slips or bank statements as a mandatory document. Because the minimum source of income for the applicant is ₹ 36,00,000 per annum. Hence, they need to verify their source of income.
Mr. Ravi has two possibilities to apply for this credit card, which are:
Online | By applying through the bank’s official website for the credit card application. |
Offline | A customer service associate or relationship officer will guide Mr. Ravi through the application process. |
This is a high-profile credit card which consists of many reward points and benefits, to make purchases and spending more memorable to its cardholders.
Also Read - IDFC FIRST Zero Balance Account
Let’s see how this credit card helps Ramoji to avail the following benefits:
Features | Benefits |
Welcome Benefits | Eligible for a ₹ 500 gift voucher after spending ₹ 15,000 or more within 90 days of card activation. 5% cashback on EMI transactions up to ₹ 1,000 within the first 30 days |
CIBIL Score
More than 700 |
*T&C Apply
Example: If Ravi spends ₹ 15,000 or more within 30 days after the activation of the card, he is eligible to receive a ₹ 500 gift voucher.
|
|
Example: Mr. Ravi can visit a domestic airport lounge access in India for two times in any financial quarter. |
Reward Points | Eligible to receive 3x reward points up to ₹ 20,000 of purchases, on both online and offlinepurchases.
|
Example: Suppose if Mr. Ravi pays the utility bill for ₹ 1,200, then his reward points are 8.
1 reward point is for every ₹ 150. So the bill is ₹ 1,200 = 1200/150 = 8 So, a total of 8 reward points for ₹ 1,200. |
Low Forex Markup Fee | The cardholder gets 1.5% for foreign transactions. |
Example: Example: Let’s assume that 1 USD is ₹ 85.
$ 1,500*₹ 85 = ₹ 127,500.
1.5/1000*127,500 = 191.25
|
Lifestyle Benefits | Eligible for 300-plus offers from select merchants
|
Example: Mr. Ravi availed the 20% special discount at a restaurant for a food order of any price. |
Fuel Surcharge Waiver | 1% fuel surcharge for transactions between ₹ 200 to ₹ 5,000 |
Example: Mr. Ravi’s fuel surcharge can be waived if his transaction is between ₹ 200 to ₹ 5,000.
|
EMI Conversion | Eligible to convert transactions above ₹ 2,500 into EMIs. |
Example: If Mr. Ravi purchased a washing machine for ₹ 25,000 using this credit card, he can convert its repayment into EMIs. |
Fee Type | Charges |
Joining Fee | Free |
Annual Fee | Free |
Annual Percentage Rate | 42% |
Card Replacement Fee | ₹ 100 |
Cash Withdrawal Fee | ₹ 199 |
1. What is the required income criterion for the IDFC First Bank Wealth Credit Card?
The required annual income is a minimum of ₹ 36,00,000 per annum
2. Is there a joining fee for this credit card?
No, there is no joining fee.
3. What is the Forex Mark-up Fee?
It is 1.5% of the foreign transaction.
4. Can I apply for this credit card if my income is ₹ 1,20,000?
No, you cannot apply for this credit card.
5. Suppose I have a fixed deposit of ₹ 40,00,000. Am I still eligible to get this credit card?
The bank may or may not consider your fixed deposit of ₹ 40,00,000. All the decisions regarding the approval of this credit card are with the bank authorities.
