After the detailed review on IDFC First credit cards; I got a few queries on how to apply for the card and any tricks to get the approval.
Since for me the IDFC First credit card was sort of pre-approved, I dont know of any tricks to get the approval quickly. However, I came along this YouTube video from Fintech Vishal that talks about a few tricks to get the approval. He lists 5 tricks to get the approval at the earliest. Embedding the video here for your convenience.
Rehashing my view on IDFC First credit cards:
Since the cards are LTF, have decent reward rate and good benefits one should take it. However, only take if you are getting IDFC Select or IDFC Wealth credit card. Do not take any other variant. I personally feel, only the Select and Wealth variants are compelling enough.
As noted earlier, the default reward rate is decent at 0.75%-1.5%, however, one may find it difficult to regularly touch 20K monthly spends on this card. Thus, the reward rate is not the primary proposition of these credit cards. It’s the other features, i.e. free movie tickets and lounge access, and interest-free cash withdrawal option.
Free movie tickets feature alone can be worth anywhere between 3000 and 12000 per annum depending on the usage pattern. By having this card, one need not keep any other card for movie benefits (for e.g. Paytm credit card).
Further, 4 lounge access per quarter is good enough for an average traveller. Lounge list (link) is pretty good. Thus, this card can work as a backup card for lounge access for your travel companion.
Lastly, I liked the interest free cash withdrawal feature too. Though the cash limit is low (~10% of the total credit limit), it can be something to fall back on in case of emergency.
Do let me know if any of these tricks worked for you.
In the interest of full disclosure, Credit Cardz may earn a referral bonus for anyone that’s approved through some of the links in this post. However, opinions and views expressed here are of the author's alone and not those of the bank, credit card issuer, or anyone else and have not been reviewed, approved or otherwise endorsed by any of these entities.