The IDFC FIRST Select Credit Card is positioned as a lifetime free premium credit card designed for salaried and self-employed individuals earning ₹12 lakh or more annually. With reward points, domestic lounge access, low forex markup, insurance coverage, and movie benefits, the card appears attractive on paper.
But does it actually deliver strong value in real-world usage?
In this detailed IDFC FIRST Select Credit Card review, we break down the reward rate, travel perks, fees, eligibility criteria, and overall value so you can decide whether this card deserves a place in your wallet.
IDFC FIRST Select Credit Card – Quick Overview
| Feature | Details |
|---|---|
| Joining Fee | Nil |
| Annual Fee | Nil (Lifetime Free) |
| Best For | Travel & Shopping |
| Reward Rate | 3 RP/₹200 (up to ₹20K), 10 RP/₹200 (above ₹20K) |
| Reward Value | 1 RP = ₹0.25 |
| Forex Markup Fee | 1.99% |
| Airport Lounge Access | 1 per quarter (spend-based) |
| Railway Lounge Access | 4 per quarter |
| Income Eligibility | ₹12 lakh+ annually |
| Interest Rate | 0.75% – 3.5% per month |
Key Features & Highlights
The IDFC FIRST Select Credit Card offers a balanced mix of lifestyle and travel benefits:
- Lifetime free credit card (no joining or annual fee)
- Accelerated reward points on higher spending
- Domestic airport lounge access
- Railway lounge access (rare in this category)
- Low forex markup fee of 1.99%
- ₹1 Crore air accident insurance cover
- Buy 1 Get 1 movie offer twice a month
- Concierge services and travel discounts
The positioning is clear: premium feel without annual charges.
Welcome Benefits
New cardholders receive:
- ₹500 gift voucher on spending ₹5,000 within 30 days
- 5% cashback on EMI transactions (up to ₹1,000)
The welcome benefit can provide up to ₹1,500 in initial value. While attractive, this should not be the only reason to apply, as long-term value matters more.
Rewards Structure Explained (With Real Calculation)
Understanding the IDFC FIRST Select credit card reward rate is crucial before applying.
Base Rewards:
- 3 Reward Points per ₹200 spent (up to ₹20,000 monthly)
- 10 Reward Points per ₹200 spent (above ₹20,000 monthly)
Redemption Value:
1 Reward Point = ₹0.25
Effective Reward Rate Calculation
If Monthly Spend is Below ₹20,000
₹200 → 3 RP
3 × ₹0.25 = ₹0.75
Effective reward rate = 0.375%
This is quite low and may not be attractive for low spenders.
If Monthly Spend is Above ₹20,000
₹200 → 10 RP
10 × ₹0.25 = ₹2.5
Effective reward rate = 1.25%
This makes the card competitive among lifetime free options in India.
Additional Reward Conditions
- 10x reward points on birthday spending
- 1x reward on utility bills and insurance
- No rewards on fuel, EMI transactions, or cash advances
- Reward points do not expire
- ₹99 + GST redemption fee applicable
For users consistently spending ₹25,000–₹40,000 per month, the card delivers meaningful value.
Travel Benefits & Lounge Access
Travel perks are one of the most searched features of this card.
Domestic Airport Lounge Access
- 1 complimentary lounge visit per quarter
- Requires ₹20,000 monthly spending
- Total 4 visits per year
Note: No international lounge access included.
Railway Lounge Access
- 4 complimentary railway lounge visits per quarter
- Total 16 visits annually
Railway lounge access is uncommon in this segment and can be valuable for frequent train travelers.
Forex Markup Fee – Strong Advantage
The IDFC FIRST Select credit card forex markup fee is 1.99%.
Most Indian credit cards charge around 3.5%.
This makes the card suitable for international transactions and foreign online purchases.
If you spend ₹1,00,000 abroad:
- At 3.5% markup → ₹3,500 charge
- At 1.99% markup → ₹1,990 charge
Savings: ₹1,510
For international users, this is a meaningful cost advantage.
Insurance & Protection Benefits
The card includes comprehensive insurance coverage.
| Insurance Cover | Amount |
|---|---|
| Air Accident Cover | ₹1 Crore |
| Personal Accident Cover | ₹5 Lakh |
| Lost Card Liability | ₹50,000 |
| Flight Delay | USD 300 |
| Baggage Loss | USD 100 |
| Passport Loss | USD 67 |
For a lifetime free credit card, ₹1 Crore coverage is impressive.
Movie & Dining Benefits
Cardholders receive:
- Buy 1 Get 1 movie tickets (up to ₹125 per ticket)
- Valid twice per month via District app
- Up to 20% discount at partner restaurants
If fully utilized, annual movie savings can reach ₹2,000–₹3,000.
Fees & Charges
Transparency in charges is important before applying.
| Charge Type | Details |
|---|---|
| Joining Fee | Nil |
| Annual Fee | Nil |
| Interest Rate | 0.75% – 3.5% per month |
| Forex Markup | 1.99% |
| Cash Advance Fee | ₹199 per transaction |
| Reward Redemption Fee | ₹99 + GST |
Always clear outstanding dues fully to avoid high interest charges.
Eligibility Criteria
To apply for IDFC FIRST Select Credit Card:
- Minimum age: 21 years
- Annual income: ₹12 lakh or more
- Good credit score (750+ recommended)
- Salaried or self-employed individuals eligible
Real Annual Value Estimation
Assume monthly spend of ₹30,000:
Annual spend = ₹3,60,000
At 1.25% reward rate:
₹3,60,000 × 1.25% = ₹4,500
Add:
- Movie benefit: ₹2,000
- Lounge value: ₹3,000
- Welcome benefit: ₹500
Estimated annual value ≈ ₹10,000
For a lifetime free credit card, this is strong overall value.
| Pros | Cons |
| Lifetime free premium credit card | Low reward rate below ₹20K spending |
| Low forex markup fee | No international lounge access |
| Reward points never expire | Redemption fee applicable |
| Strong insurance coverage | Spend condition for airport lounge |
Who Should Apply?
This card is suitable for:
- Individuals earning ₹12 lakh+ annually
- Monthly spending above ₹20,000
- Domestic travelers
- Occasional international shoppers
- Users looking for lifetime free premium card
Final Verdict – Is IDFC FIRST Select Credit Card Worth It?
The IDFC FIRST Select Credit Card is a balanced lifetime free option that works best for mid-to-high spenders. While the base reward rate is low for smaller usage, the accelerated rewards beyond ₹20,000 monthly spending, low forex markup fee, and lounge access make it competitive in its segment.
It may not be the highest reward credit card in India, but it offers solid value without annual fee pressure.
Frequently Asked Questions
What is the reward rate of IDFC FIRST Select Credit Card?
The IDFC FIRST Select Credit Card offers 3 reward points per ₹200 spent up to ₹20,000 per month and 10 reward points per ₹200 spent above ₹20,000. Each reward point is worth ₹0.25, making the effective reward rate up to 1.25% on higher monthly spends.
Is IDFC FIRST Select Credit Card lifetime free?
Yes, the IDFC FIRST Select Credit Card is a lifetime free credit card. There are no joining or annual membership charges, making it suitable for long-term usage without renewal fee concerns.
What is the foreign currency markup fee on IDFC FIRST Select Credit Card?
The card charges a low forex markup fee of 1.99% on international transactions, which is lower than many standard credit cards in India that charge around 3.5%.
How many airport lounge accesses are available with IDFC FIRST Select Credit Card?
Cardholders get 1 complimentary domestic airport lounge access per quarter (4 per year), subject to spending ₹20,000 in the previous month. Additionally, 4 railway lounge visits per quarter are provided.
What is the eligibility criteria for IDFC FIRST Select Credit Card?
Applicants must be at least 21 years old and have a minimum annual income of ₹12 lakh. A good credit score is also required for approval.
What are the welcome benefits of IDFC FIRST Select Credit Card?
New cardholders receive a ₹500 gift voucher on spending ₹5,000 within 30 days of card issuance. Additionally, 5% cashback on EMI transactions (up to ₹1,000) is offered within the first 30 days.
Do reward points expire on IDFC FIRST Select Credit Card?
No, reward points earned on the IDFC FIRST Select Credit Card do not expire and can be carried forward, allowing flexible redemption over time.
Is there any reward redemption fee on IDFC FIRST Select Credit Card?
Yes, a reward redemption fee of ₹99 plus applicable GST is charged when redeeming reward points.
Is IDFC FIRST Select Credit Card good for international travel?
The card is suitable for international spending due to its low 1.99% forex markup fee. However, it does not offer complimentary international airport lounge access.
Sachin is a professional blogger who believes in “Human-First” content. He specializes in breaking down complicated tech and finance topics into simple, actionable steps. His goal is to empower users with the right knowledge to make smarter digital decisions.