IDFC FIRST Bank
IDFC FIRST Millennia
Cardmember
CARD COMPARE MEMBER
Official Bank References:
IDFC FIRST Millennia Credit Card Review
Ideal Category: Lifetime FreeJoining Fee
₹0 (Free)
Annual Fee
₹0 (Free)
Lounge access
Domestic / International
Forex Markup
3.50% of the transaction value.
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Card Overview & Suitability
Who should get this card
Consumers looking to optimize rewards in their specific category (cashback, shopping, or lifetime free) and who can meet annual waiver milestones.
Who should avoid this card
Spenders who carry high monthly balances or carry card debt (due to high interest rates).
Fees & Key Charges
Official fee schedule as detailed in the Most Important Terms and Conditions (MITC).
| Fee Parameter | Charge / Milestone | Description |
|---|---|---|
| Joining Fee | ₹0 (Free) | Charged on card issuance (often offset by welcome vouchers). |
| Annual Maintenance Fee | ₹0 (Free) | Billed annually starting from the second year onwards. |
| Annual Fee Waiver Limit | Lifetime Free credit card. No annual fee or spending condition. | Required spending target in the previous year to waive renewal costs. |
| Foreign Currency Markup | 3.50% of the transaction value. | Markup charged on cross-border payments or foreign site checkouts. |
| Finance / Interest Charges | Dynamic interest rate ranging from 9% to 42% per annum (0.75% to 3.5% per month) based on user credit history. | Annualized interest rate applied to outstanding balances and new transactions. |
Reward Rates & Accelerator Rules
Maximize points accumulation by routing spends to partner e-commerce platforms.
Base Rate
Base Reward Accrual
1.0% to 1.5% cash-back equivalent on general domestic retail spends.
Accelerator
Co-Branded / Accelerated Rate
5% cashback on select merchants or preferred e-commerce partners.
Redemption
Redemption System
Adjusted against monthly outstanding statement balance or redeemable as voucher values.
Exclusions
Excluded Categories
Wallet loading, rent payments, fuel surcharges, school fees, and government transactions do not accrue rewards.
Pros & Cons Breakdown
Unbiased analysis highlighting advantages and critical limitations.
Pros & Key Benefits
- Zero joining and annual fees for life.
- Reward points never expire and there is no cap on total points earned.
- Dynamic low interest rate model starting from just 9% per annum.
Cons & Drawbacks
- Complimentary lounge access is restricted and requires ₹20,000 spends in the previous month.
- Base offline reward rate is low (approx 0.5% return value).
- High reward rates (10X) only apply on spending amounts that cross ₹20,000 in a month.
Eligibility Requirements
Documents Required
Card-Specific FAQs
CardCompare India is not a bank or credit card issuer. The approval of credit card applications, credit limit assignments, interest rates, and fee waivers are decided solely by the respective bank based on CIBIL verification and internal criteria. All terms displayed here are sample data pending verified confirmation; please check the Respective Bank website for official terms before applying.