Home / Business and Economy / IDFC Bank Slashes Credit Card Perks, Adds Fees
IDFC Bank Slashes Credit Card Perks, Adds Fees
24 Dec
Summary
- Reward rates and lounge access significantly reduced for premium cards.
- Lifetime-free cards now offer fewer reward points per rupee spent.
- New fees introduced for FASTag and railway bookings above certain limits.
IDFC First Bank is implementing a significant overhaul of its credit card benefits, affecting popular cards such as Ashva, Mayura, Select, and Wealth. Effective January 18, premium cardholders will see reduced reward points on international transactions, and a minimum spend of ₹20,000 in a billing cycle is required for maximum rewards. Reward points may not be credited if the minimum payment is delayed.
Lifetime-free cards like Classic, Select, and Wealth also face reward dilution, with customers now earning one point per ₹200 spent, a decrease from the previous one point per ₹150. While bonus points remain for spends over ₹20,000 monthly and on birthdays, overall reward earnings are diminished. Airport lounge access is also being trimmed, with Select and Wealth cardholders receiving fewer complimentary domestic and international lounge visits starting April 2026.
New policies introduce surcharges on FASTag recharges over ₹10,000 and railway bookings exceeding ₹25,000 per billing cycle. However, IDFC First Bank is enhancing rewards for travel bookings made through its mobile app, offering bonus points on hotel and flight reservations. These changes collectively alter the value proposition for many cardholders, particularly impacting those who frequently use their cards for international spending.
