IDFC FIRST Bank: Quarterly Income and Business Overview
Section 3: Since Launch in January 2021, the Bank has issued 1.5 Lac Credit Cards till March
31, 2021
INDUSTRY
Multiple Fees (Annual/ Over
Limit)
Charges for spending over limit
IDFC FIRST Bank Credit
Cards customer friendly
initiatives
Lifetime Free
(No Annual Fees ever)
A Credit Card, like no other
Customer friendly card launched by the Bank, keeping in line with the ethos of
No Charges for spends upto
10%*
FIRST
always customer first.
Platinum
FIRST
Millennia
VISA
FIRST
Millennia
VISA
Platinum
Static and high interest rates
(36% to 48% APR)
(since last 30 years)
Often Complicated Reward
Points with T&Cs and Rewards
expiry date
Interest on ATM cash
withdrawal from Day 1
Entire outstanding deemed as
revolver & charged interest
Dynamic Interest Rate
(9% to 36% APR) $
Simple scheme, upto 10X
reward points. No expiry.
Easy online redemption
Interest-Free Cash
Withdrawal (up to next
billing cycle or 48 days,
whichever is earlier)
Classic
FIRST
Wealth
FIRST
Select
IDFC FIRST
IDFC FIRST
ล
VISA
Signature
IDFC FIRST Bank Family
Super Saver Interest
Lifetime free
Credit Card
10X
Super Rewarding
Program
Rate (% APR Starting
from 9%)
冠
Interest Free Cash
Withdrawal
(up to next billing
cycle or 48 days,
whichever is earlier)
*Spending over limit is usually inadvertent by customers. Hence as a customer friendly measure, the Bank will intimate the customers if their spends are going above limit to avoid any
charges incurred by them. $Customer rates depending on algorithm, factoring in credentials, relationship with the bank and many other parameters
Section 3: Product Offering
22
IDFC FIRST
BankView entire presentation