Credit cards are definitely a savior when used the right way.
They enable you to buy things and pay for them later, earn cash back and rewards, and at times even help you get loans when you have a strong credit limit.
There is a lot that a credit card has to offer, and with several banks coming up with different tiers of credit cards, it becomes all the more exciting to own at least one of them (or even multiple, really).
It also becomes tough sometimes, to choose from so many incredible credit cards existing in the market that offer several benefits. One of our favorite credit cards among those is the IDFC first Millennia credit card.
As the name suggests and relates with ‘millennials’, this card seems like the perfect fit for the current generation. In our review, we will tell you everything about it and why you should apply to get one!
IDFC First Millennia Credit Card Benefits
- The credit card is a lifetime free credit card
- It offers interest-free ATM cash withdrawals for up to 48 days
- Provides you rewards and offers specially on your birthday
- Gives you 10 times of the usual rewards on the incremental monthly expenses crossing Rs. 20,000
- It comes with a super saver interest rate that ranges from 0.75% to 2.99& per month
- Offers lifestyle benefits that include discounts on dining, shipping, movies, gold, and more
- Has several in-app discounts across several industries like wellness and retail
- The reward points you earn through spending do not come with any expiry date
- Does not involve any joining or membership fee
- Provides you with 6 times and 3 times the reward points on all online and in store spends that accumulate to Rs. 20,000 and more per month
- Does not involve any fee for redeeming the reward point
- Does not charge any fee for an over-limit transaction
- The minimum late payment fee is only Rs. 100, while the maximum accounts for Rs. 1,000 or 15% of the total due amount, whichever of the two is lower
- Has a forex markup at 3.5 percent for all the international transactions (terms and conditions apply)
IDFC First Millennia Credit Card Features
Joining Benefits
The credit card comes with several joining benefits including a welcome voucher that is worth Rs 500. You can spend it within 90 days of the card issuance on any spending of Rs 15,000 or more.
The credit card also offers a flat 5 percent cashback on all the transactions for your first ever EMI transaction that you do within 90 days of the card issuance.
Privileges
As a joining benefit, the IDFC first Millennia credit card offers flat 25 percent discount on movie tickets, the maximum discount that can be availed being of Rs 100, valid once every month.
It also provides 4 complimentary railway lounge visits every quarter and complimentary roadside assistance which is worth Rs 1,399.
Not only that, if you opt for this credit card, it will offer you with a fuel surcharge waiver of 1 percent at all the fuel stations in India, the maximum limit of which is up to Rs 200 per month.
Another incredible feature under this section is the credit card offering over 50 in=app discount offers and a maximum of 20 percent discount at over 1,500 restaurant chains across the country.
It also covers your personal accidents with an insurance of Rs 2,00,000 (terms, and conditions apply) along with a liability cover in case of a lost card of Rs 25,000.
Convenience
We love the IDFC first Millennia credit card due to its super easy and seamless functioning. It enables you to convert all your transactions beyond Rs 3,000 into convenient EMIs with one click on the mobile app.
Not just that, it also provides you with an instant EMI conversion for all the transactions online above Rs 3,000 with an OTP on the bank’s page. Balance transfers are also easy and quick with IDFC’s Millennia credit card as it provides balance transfer privilege as one of its top features.
IDFC First Millennia Credit Card Eligibility
- The applicant must be at least 18 years of age and at max 60 years of age
- The annual salary of the applicant more than 12 lakhs per annum
- Source of income must be regular, salaried, or self-employed
- Should hold a decent credit score of 700 and above
- Applicant must be an Indian resident with a current and permanent residential address in India
- The applicant must have a good credit history/bureau score without any evidence of any default in loans or missing payments with respect to credit cards and loans
- The applicant must have a serviceable address in the IDFC Bank serviceable area
How to apply for the IDFC First Millennia Credit Card?
You can apply for the Millennia card in two ways –
1. Offline:
This is the traditional method used to apply for credit cards where you send out an office application to the particular branch accepting credit card applications. You can apply through a card-on-card application or ask your branch or branch manager for a recommendation.
2. Online:
Most people prefer applying for a credit card online now a days since they are quicker and simpler. You can show interest in the card online on the official website of IDFC bank and wait for a representative to call.
The representative check if you are eligible for the card before calling you.
Documents needed:
Proof of Address
- Ration card
- Aadhaar card
- Voter ID
- Passport
Any one of the four mentioned address proofs above.
Identity Proof
- Aadhaar card
- Passport
- Driving license
Any one of the three mentioned identity proofs above.
Income Proof
- IT returns
- Form 16
- Salary slips
Any one of the three mentioned income proofs above.
IDFC Millennia Credit Card is a suitable pick IF:
- You do not have heavy or major expenses dependent on your card
- You are a regular online shopper
- When do not wish to pay any joining or annual fee on your credit card
- If you are a beginner in the credit card game with a medium spending capacity
- You wish to enjoy the simple rewards and redemption process
- You prefer rewards over cashbacks, because this card has tons of them
- Your preference to book moves online is on a regular basis
- You are not interested to look for a category specific discount
Limits and Payments
As much as an individual would love to have a high credit limit on their credit card, it widely depends on your Cibil score and income.
Similarly, the credit limit on your Millennia Credit Card will wholly depend on your income and is not a specific amount. It also will depend on the last repayment history of all your debts, and if they were on time or not.
If you have a good Cibil score with a stable (and high) income, then you are eligible for a high credit score on the IDFC Millennia Credit Card.
As for the payments, there are several options open for you to pay your credit. You can pay through cash or cheque as the traditional way demands, but there are also a few online methods of payments that have emerged which are simple, quick and easy to make immediate credit payments –
- UPI payments
- IDFC first bank internet banking
- IMPS and NEFT where you can use your bank’s IFSC code
- Net banking of any other bank
- Payments through other debit card
Bottom line
The IDFC Millennia Credit Card is definitely the right pick for you if you want to be showered with several rewards and offers that come along with this credit card. Since it does not involve any annal or joining fee, there is nothing that you have to spend in order to get the card.
All you need is a stable income to start with and a good credit score, and you can get your hands on this incredible card within days!