IDFC FIRST Millennia Credit Card | LTF Card | Details & Review

This article is a quadfurcation of the parent article IDFC Bank First Credit Cards Series. In this piece, we outlay the details pertaining to IDFC FIRST Millennia Card. For other variants:

• For FIRST Classic Card — Click here.
• For FIRST Select Card — Click here.
• For FIRST Wealth Card — Click here.

The entry-level card, FIRST Millennia, looks trendy for sure and targets digital-savvy cardholders who desire to earn rewards on every purchase, be it offline or online. The card comes with low interest rates, decent benefits, and charges zero joining/annual fee. Details below:

Welcome Benefits

• Gift Vouchers worth INR 500 on spending INR 15,000 within 90 days of card set-up.

• Get 5% cashback on the first EMI transaction performed within 90 days of card set-up.

Reward Points

• 10X Reward Points on all Spends above INR 20,000.

• 10X Rewards on all spends done on your Birthday.

• 6X Reward Points on Online Spends.

• 3X Reward Points on all Offline Spends.

• 1 RP = 0.25 INR.

• No RP is accrued for Fuel, EMI, Insurance transactions, and Cash Withdrawals.

• No expiry of RPs.

Interest-Free Cash Withdrawl

• Interest-free cash withdrawal from ATMs for up to 48 days.

• A cash withdrawal fee of INR 250 + Taxes is applicable.

Entertainment & Dining

• Get a 25% discount up to Rs 100 to purchase movie tickets on the Paytm Mobile App. The offer can be availed once a month.

• To avail of the discount, go through the regular ticketing flow and select IDFC FIRST Millennia Credit Card Offer or enter Promo code IDFCCCFM.

• Upto 20% discount on 1500+ restaurants across India & 15% discount on 3000+ Health & Wellness Outlets.

Railway Lounge Access

• Enjoy 4 complimentary Railway Lounge Access.

• Quadfurcated to 1 lounge visit per quarter.

• INR 2 will be charged from the cardholder’s account to validate the card for complimentary lounge access.

• As of today, Executive Railway Lounge at Delhi, Jaipur, Agra, Ahmedabad, Madhurai, and Kolkata are covered under this program.

Fuel Surcharge Waiver

• Get fuel surcharge waived at all fuel stations across the country.

• Fuel surcharge capped at INR 200 per month.

Protection Shield

• Personal Accident Cover worth INR 2 Lakh.

• Personal Accident Cover is applicable only if you carry out at least 1 transaction in the previous month.

• Complimentary lost card liability cover of INR 25,000.

Fee & Other Charges

• Joining & Annual fee: NIL.

• NIL Overlimit fees.

• NIL Addon charges.

• Credit Card Interest Rate – from 0.75% to 2.99% per month.

• NIL Reward redemption fees.

• FX Markup – 3.5%.

• Late Payment Fee – 15% of Total Amount Due (subject to Min Rs 100 and Max up to Rs 1,000).

CP's Take

IDFC FIRST Millennia Credit Card is a lifetime free card, and this compels a lot of card users (not all, mind you) to accommodate such cards in their wallets. The most customary criticism about credit card reward points is that they come with an expiration date. This card overcomes this disadvantage by crediting points that never expire. Even if you don’t redeem the points for a long time, you can get a tangible redemption benefit out of it. 

As far as the rewards are concerned, being a zero joining & annual fee credit card, the default rewards rate for online and offline transactions is 1.5% and 0.75%, respectively. If you make an incremental spend above INR 20,000, the reward rate goes up to 2.5%, which is quite satisfactory. 

It also houses 4 complimentary Railway Lounge Access, fuel surcharge waivers, and a discount on movie tickets, which we think is excellent.

Without a second thought, this card is definitely one of the best entry-level credit cards.

Thanks for reading!