IDFC First Bank continues to expand its credit card lineup, much like SBI Card, with regular launches catering to diverse customer segments. From premium cards such as Ashva and Mayura to co-branded options like the IndiGo Credit Card, and the recently upgraded fixed-deposit-backed IDFC WOW! Black Credit Card, the bank has built a well-rounded portfolio. Adding to this momentum, it has now rolled out the new Diamond Reserve Credit Card.
As the name suggests, the Diamond Reserve Credit Card is positioned in the premium category. It comes with a joining and annual fee of ₹3,000 plus GST, which is waived on annual spends of ₹6 lakh. On paying the joining fee, cardholders can earn a ₹500 gift voucher from brands such as Amazon, BigBasket, Uber, or Lifestyle after spending ₹5,000 within 30 days of card issuance.
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Reward Structure
- 10 Reward Points per ₹150 on incremental spends above ₹20,000 in a monthly billing cycle (reward rate: 1.66%).
- 3 Reward Points per ₹150 on spends up to ₹20,000 per month (reward rate: 0.5%).
- 3 Reward Points per ₹150 on rent, government payments, wallet loads, and education spends (reward rate: 0.5%).
- 1 Reward Point per ₹150 on insurance and utility payments (reward rate: 0.16%).
1 Reward Point = ₹0.25.
Key Benefits
- Movie Offer: Buy one ticket and get up to ₹250 off on the second ticket when booked via the District app by Zomato, valid for up to two free tickets per month.
- Airport Lounge Access: Up to 2 complimentary lounge visits per quarter at participating domestic and international lounges in India, plus 2 international lounge visits per quarter, shared between primary and add-on cardholders. This benefit requires a minimum monthly spend of ₹20,000.
- Railway Lounge Access: Up to 4 complimentary railway lounge visits per quarter at select lounges across India for both primary and add-on cardholders.
- Golf Privileges: Enjoy up to two complimentary golf rounds or lessons per month—one on spends of ₹20,000 and an additional one on spends of ₹40,000 or more in the same billing cycle.
- Affordable Add-On Cards: Add-on cards are available at just ₹499, making it easier to share benefits with family members.
Overall, the IDFC First Bank Diamond Reserve Credit Card delivers a balanced blend of travel and lifestyle perks, including movie offers, lounge access, golf benefits, and emergency assistance. While a more detailed review will follow, the card appears to be a promising option for frequent travellers and users seeking premium lifestyle benefits alongside everyday rewards.
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