IDFC FIRST Bank Eliminates Forex Markup Across Entire Portfolio; Rewards Cessation Effective 26 Oct 2026
IDFC FIRST Bank Eliminates Forex Markup Across Entire Portfolio; Rewards Cessation Effective 26 Oct 2026
0% Currency Conversion On International Spends
CardIntel Verified Intelligence • Direct Issuer Circular Analysis
Executive Overview
IDFC FIRST Bank has officially confirmed 0% foreign currency markup across its entire retail credit card suite (FIRST Wealth, FIRST Select, FIRST Millennia, FIRST Classic, WOW, SWYP, Ashva, and Mayura). Simultaneously, the bank's official schedule stipulates that effective 26 October 2026, international transactions will cease earning FIRST Reward Points.
New Product Specifications & Benefits Matrix
| Specification | Standard Proposition | Introductory / Launch Perk | Audited Threshold |
|---|---|---|---|
| Annual / Joining Fee | Tiered by card variant | Welcome vouchers offsetting joining fee | Waivable on spend |
| Reward Rate | Up to 3%–5% accelerated yield | Bonus introductory points on first spend | Standard MCCs |
| Network Rails | RuPay / Visa / Mastercard | Contactless + UPI QR compatibility | Domestic & Global |
Key Promotional Highlights & Slabs
Open for retail applications
Accelerated introductory perks
Portfolio & Value Impact
Positions IDFC FIRST as India's premier zero-forex banking suite alongside Scapia and RBL World Safari. However, international reward earning ceases on 26 Oct 2026.
Recommended Cardholder Strategy
Cardholders can utilize IDFC cards for international POS and overseas online transactions with 0% currency surcharge. Plan overseas spend prior to 26 October 2026 to maximize reward accumulation.
How to Avail / Execute This Update
- 1Check legal eligibility criteria (minimum income, CIBIL score >750, age 21–65).
- 2Apply through the bank official portal or mobile application using digital Video KYC.
- 3Activate the physical/virtual card within 30 days of issuance by setting PIN.
- 4Complete the first eligible transaction within 30 days to claim introductory welcome benefits.
Important Terms & Conditions
- •Subject to bank internal underwriting guidelines and credit verification.
- •Welcome vouchers delivered within 60 days of paying the primary joining fee.
- •Terms subject to change per official schedule of charges.
Applicable & Affected Credit Cards
View All Cards →Primary Official Reference: Official IDFC FIRST Bank Notice & MITC Schedule. All market intelligence and tariff dispatches published on CardIntel are cross-referenced directly against official bank filings, schedules of charges, and regulatory circulars.
Articles on CardIntel are permanently preserved without automated deletion after 1 year to maintain an authoritative, chronological archive of credit card policies in India.
View all credit cards, debit cards, official tariff schedules, and customer care escalation protocols for IDFC FIRST Bank.
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Evaluate Alternative Credit Cards Side-by-Side
Compare affected cards with India's leading alternative reward programs to calculate net annual value, forex markups, and lounge access thresholds based on your personal monthly spend.