IDFC First Power+ Credit Card
Product Details
Credit Card Name :
IDFC First Power+ Credit Card
Bank Name :
IDFC First Bank
Type :
Fuel Credit Card
Interest Rate :
0.75% to 3.5% per month (9% to 42% per annum)
Eligibility :
Nationality: You must be an Indian citizen.
Age: You must be at least 21 years old.
Income: Your annual income should be Rs. 3 lakh or more.
Pros
Welcome Benefit: Welcome benefits worth ₹1,650
Rewards: Up to 6.5% savings on your fuel expenses, 5% savings as Rewards on Grocery & Utility expenses, 5% savings as Rewards on IDFC FIRST FASTag recharge, and 3X Rewards on other retail transactions.
Other Benefits: Complimentary Domestic Airport Lounge access, once every quarter, on minimum monthly spends of ₹5,000, Complimentary Roadside Assistance worth ₹1,399, 25% off on movie tickets up to ₹100, once every month, and Personal Accident Cover of ₹2,00,000 and Lost Card Liability Cover of ₹25,000.
Cons
Limited reward categories: Most benefits are focused on fuel and specific spending categories. Rewards on other transactions are lower compared to some cards.
No international usage: This card is not accepted internationally, making it unsuitable for frequent travelers.
Pros & Cons
Welcome Benefits
Welcome Benefit: Welcome benefits worth ₹1,650
Rewards System
With the FIRST Power+ Credit Card, for every ₹150 spent, you earn 24X Reward Points on HPCL Fuel & LPG, 30X Reward Points on Grocery & Utility and IDFC FASTag recharge and 3X Reward Points on other retail transactions.
You also earn 6 Payback Reward Points for every ₹100 fueling through HP Pay App.
1 RP = 0.25 paisa
Effective Cashback Rate: 1.5% (Fuel)
Effective Cashback Rate for other spent: 0.75%
International Forex Markup
3.50%
Welcome Benefits and Reward System
Special Features
Get rewarded for every UPI transaction
Eligibility Criteria
Nationality: You must be an Indian citizen.
Age: You must be at least 21 years old.
Income: Your annual income should be Rs. 3 lakh or more.
Benefits
Cashback on Fuel purchase
Rewards on other spends like grocery shopping, and Utility expenses.
Complimentary lounge access
Movie ticket discounts
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Visit the IDFC FIRST Bank website: https://www.idfcfirstbank.com/credit-card
Click on "Credit Cards" and then "Apply Now."
Choose the "IDFC FIRST Power+" card and click "Apply Now."
Fill out the online application form with your personal details, income information, and employment details.
Upload the required documents (PAN card, ID proof, income proof) as instructed.
Submit the application and await a response from the bank.
Contact Details
1800 10 888
Account Opening and Procedure
IDFC First Power+ Credit Card
The IDFC FIRST Power+ Credit Card is a co-branded card offered in collaboration with HPCL, targeting frequent fuel spenders. If you're a frequent HPCL customer and spend a significant amount on fuel, the IDFC FIRST Power+ Credit Card can be a valuable tool to earn significant savings. However, if your spending habits are more diverse, or you require international acceptance or broader reward categories, exploring alternative cards might be more beneficial.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
Joining fee: ₹499
Annual fee: ₹499, waived off on crossing ₹150,000 spent in the previous anniversary year.
Interest Rate: 0.75% to 3.5% per month (9% to 42% per annum)
Late payment Charges: 15% of Total Amount Due as of the previous statement minus any payments received before the due date (subject to a minimum of ₹100 and a maximum of ₹1,300)
Cash advance transaction fee: ₹199
Foreign Exchange Mark-up Fee: 3.50%
Reward Redemption Fee: ₹99 per redemption transaction
Fuel Surcharge
Maximum amount of Fuel Surcharge waiver per statement cycle: INR 200
Billing Cycle
30 Days