If you are looking for an honest IDFC First Millennia credit card review, you’re at the right place. In the blog, I’m going to do a detailed review of this latest credit card offering in 2021 by IDFC First bank.
I got the Millenia Credit Card recently from IDFC First Bank under its pre-approved card offer. IDFC First Bank has entered the Indian credit card industry in 2021 with a solid bang.
The bank has launched four new credit cards (Millenia, Classic, Select, and Wealth) with an eye-grabbing interest rate and lifetime free option. IDFC Millenia card is also a part of this new credit card lineup.
After its announcement in Jan 2021, this lifetime free credit card has created a lot of buzz among plastic card enthusiasts in India thanks to its mindboggling features. Excited to know what they are? I know you’re.
So let’s jump into the detailed review of this super exciting card:
Features & Benefits of IDFC First Bank Millenia Credit Card
Let’s first start with the benefits and features of this IDFC bank credit card:
- Rs. 500 Gift Voucher on spending 20K or above in first 90 days from the date of card issuance.
- 5% cashback on the first EMI transaction within 90 days from the card issuance date.
If you look at these benefits and compare them with this card’s category rivals like Amazon Pay ICICI Credit Card and Flipkart Axis Credit Card, then these rewards are pretty decent.
Reward Point Benefits
- 10X reward points on spending 20K or above (2.5% reward rate)
- 6X reward points on all online spends (1.5% reward rate)
- 3X reward points on all offline transactions (0.75% reward rate)
- 1 reward point = 0.25 paisa
- Every 100 Rs spend = 1 reward point
So, if you look at the overall reward rate, it falls in the (0.75 to 2.5%) range which is pretty good, considering this card is lifetime free.
Also, the reward points are never expiring and can be redeemed at any time for a statement credit or buying gift vouchers.
As far as my experience goes, I’ve recently earned some reward points on this card which you can see in the below screenshots. You can use IDFC First Bank Mobile App to manage your card and its reward points. The app shows multiple gift vouchers and offers that are available on your card (see images below):
Super Privileges Benefits
- 25% discount on movie tickets every month (max 100 Rs.)
- 20% discount at 1500+ IDFC Partner Restaurants across India
- 4 Complimentary Railway Lounge Access per year
- 2 Lakh Rupees Personal Accident Cover
- 1% Fuel Surcharge wavier up to 100 rupees every month (trans. b/w 400 to 4000 Rs.)
To be frank, these super privileges easily cover up for the poor joining benefits of this credit card.
How to Apply
As of writing this article, there is no option available for third-party bank customers to apply for this card. You can join this credit card waitlist by visiting this link here.
According to my conversation with the IDFC First Bank customer support team, they will start accepting applications for its newly launched four credit cards (including Millenia) after 15th March 2021.
Presently, the bank is offering four of its new credit cards only to their bank customers (people with FD, savings, and loan accounts) by analyzing their CIBIL score and bank records.
I also got this card as one of the pre-approved bank customers. If you’ve also got an email or text message from the bank that you’re eligible for this card, you can refer to the below video to know the online application procedure:
Super Trick: How to Become Eligible for Pre-Approved Offer of IDFC First Millenia Credit Card
If you’re an IDFC First bank customer and haven’t received the pre-approved offer for the IDFC First millennia credit card (or other three credit cards), then you can watch the below video to increase your approval chances for this card.
I have shared five super tricks in this video that will increase your chances of getting these four new credit cards from IDFC First Bank. Enjoy!
Fees & Charges
- Joining Fees: Nil
- Annual Fees: Nil
- Forex Mark Fees: 3.5%
- Cash Advanced Fees (Domestic & International): 250 Rs.
- Credit Card Interest Rate: 0.75% to 3% per month (up to 36% annually)
- Reward Points Redemption Fees: NIL
So, if you look at the card fees, you will realize that this interest-free ATM cash withdrawal facility card by IDFC First Bank is a complete delight for people who love to carry multiple plastic cards.
However, you need to pay forex markup charges, cash advanced fees (domestic and international), and outstanding balance charges while using this credit card similar to its rivals.
IDFC First Millenia Credit Card Eligibility
- Indian National Citizen
- Age: 21 to 60 years
- Income: 25K monthly income for salaried person
- Income Tax Return of 5 Lakh or above for business class individuals
PS: The above eligibility criteria are just tentative. The bank might consider various factors like spending habits, CIBIL score, loan accounts, and savings account balance before issuing its latest credit card to customers.
Credit Card Limit and Payment Options
Most people like to have a good credit card limit when applying for any credit card. However, in the case of IDFC First Millenia Credit Card, your credit limit will be decided on basis of your CIBIL score and income levels by the bank.
In my case, I have a CIBIL score of 760 and have never missed any of my bank loan EMIs & credit card outstanding payments in the past. I got a credit card limit of 81K (see screenshot below).
For making IDFC First Millennia credit card payments, you can use any of the below methods:
- IDFC First Bank Net Banking
- Bank Cheque
- Cash Payment at IDFC First bank selected branches
My Honest Opinion: Should Your Apply For It?
Considering the fact that IDFC First Millenia’s credit card is lifetime free and comes with interest-free ATM cash withdrawal, low annual interest, and decent reward rate options, you should definitely try to get your hands on this credit card.
Millennia credit card from IDFC bank is a solid offering against the likes of Amazon Pay ICICI, Axis Bank Ace, and Flipkart Axis Credit Cards. And, not to forget that this card looks super cool in your back pocket when compared with its rivals.
What do you feel about IDFC First millennia credit cards? Are you looking to apply for it? What features you like the most about this card?
Don’t forget to share your thoughts and opinions about this card in the comment section below.