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IDFC FIRST SWYP Credit Card

Product Details
Credit Card Name : 

IDFC FIRST SWYP Credit Card

Bank Name :

IDFC First Bank

Type :

Lifestyle Credit Card

Interest Rate : 

The IDFC FIRST SWYP Credit Card is unique in that it doesn't charge a traditional interest rate. Instead, it uses a flat fee system for converting purchases above ₹2,500 into EMIs (Equal Monthly Installments).

Eligibility :

Age: 18-70 years old
Citizenship: Indian resident
Employment: Salaried or self-employed
Credit Score: Minimum credit score varies depending on the variant of the card applied for. Typically, a score of 750 or above is preferred.
Income: Minimum income requirement varies depending on the variant of the card applied for. Generally, it starts from ₹25,000 per month.

IDFC FIRST SWYP Credit Card
Pros
  • Customers can Activate UPI on their FIRST SWYP credit card

  • Reward Points: Earn 2 Reward Points per ₹150 spent on retail transactions, with accelerated points on various brands and categories.

  • Welcome Bonus: Get 1,000 Reward Points on your first transaction within 30 days of card issuance.

  • Complimentary Airport Lounge Access: Enjoy 4 complimentary domestic airport lounge accesses per year with the higher variant of the card.

  • Easy EMI Conversion: Convert purchases into EMIs at attractive interest rates.

  • Partner Offers: Get discounts and benefits on dining, entertainment, travel, and more with partner brands.

  • Fuel Surcharge Waiver: Enjoy 1% fuel surcharge waiver on transactions at petrol pumps.

  • Milestone Benefits: Reach spending milestones to unlock additional reward points and benefits.

Cons
  • Lower Reward Rate: Compared to some premium cards, the base reward rate of 2 points per ₹150 is average.

  • Limited Lounge Access: The free lounge access is only available with the higher variant of the card.

  • Foreign Markup Fee: A 3.5% fee applies to international transactions.

  • Late Payment Charges: Late payment fees and interest charges can be high if not paid on time.

  • Credit Score Impact: Applying for and using the card can impact your credit score.

Pros & Cons
Welcome Benefits
  • Free Lenskart Gold Membership on payment of joining fees

  • Get 1,000 Reward Points on 1st successful EMI transaction within first 30 days from card issuance

  • Unlock a complimentary 1-year Times Prime Membership on net spends of ₹30,000 or more within the first 90 days of card issuance. 

Rewards System
  • Earn 1 Reward Point for every ₹1 spent on all transactions.

  • Earn 100 Reward Points on monthly UPI spends of ₹5,000 or more (excluding fuel and rent transactions).

  • 5% cashback (up to ₹1,000) on the transaction value of the first EMI done within 30 days of card generation.

  • Effective Cashback Rate: 2.5%

International Forex Markup

3.5%

Welcome Benefits and Reward System
Special Features

The IDFC FIRST SWYP Credit Card is unique in that it doesn't charge a traditional interest rate. 

Eligibility Criteria

Age: 18-70 years old
Citizenship: Indian resident
Employment: Salaried or self-employed
Credit Score: Minimum credit score varies depending on the variant of the card applied for. Typically, a score of 750 or above is preferred.
Income: Minimum income requirement varies depending on the variant of the card applied for. Generally, it starts from ₹25,000 per month.

Benefits
  • Customers can earn Reward Points for online as well as offline purchases and can redeem them for gift vouchers, flight and hotel bookings, and EMI Conversions.

  • Other Benefits provided, include- Airport Lounge Access, Referral Programs, and additional rewards on monthly spending of INR 5000, INR 10,000, and INR 15,000. 

Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
  • Visit the IDFC FIRST Bank website or app.

  • Choose "Apply for Credit Card" and select the FIRST SWYP variant.

  • Fill out the online application form with details like your name, contact information, income, and employment.

  • Upload scanned copies of the required documents (PAN card, address proof, income proof).

  • Apply and wait for processing.

Contact Details

1800 10 888

Account Opening and Procedure
IDFC First SWYP Credit Card

The IDFC FIRST SWYP Credit Card is a good choice for individuals who, Prefer avoiding interest charges and are comfortable with managing their spending responsibly.
Make large purchases occasionally and can benefit from flexible EMI options.
Value additional benefits like lounge access and discounts. However, if you Need revolving credit for unexpected expenses and prioritize diverse reward options, you should check other cards available in the market

Abhijeet Saxena

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

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Fees & Charges
  • Joining fee: ₹199 + GST

  • Annual fee (2nd year onwards): ₹199 + GST

  • Late payment fee: Up to ₹1000 + 2.5% of the outstanding amount, whichever is higher

  • Minimum payment fee: 5% of the outstanding amount or ₹100, whichever is higher

  • Cash advance fee: 2.5% of the amount withdrawn with a minimum of ₹250

  • Foreign currency markup fee: 3.5%

  • Over-limit fee: ₹200 + 2% of the over-limit amount

  • Balance transfer fee: 1% of the amount transferred, with a minimum of ₹250 and a maximum of ₹3,000

Fuel Surcharge

1% fuel surcharge waiver up to ₹200 p.m.

Billing Cycle

30 Days

Fees & Charges
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