Imagine getting rewarded every time you fill up your tank. In today's fast-paced world, saving money on everyday expenses is more important than ever. The IDFC First Power Plus RuPay Credit Card is a game-changer for drivers, offering significant fuel savings and a range of other benefits. In this post, we'll break down everything you need to know about this card and how it can help you get more bang for your buck at the pump.
Welcome Benefits
One of the most appealing aspects of the IDFC First Power Plus RuPay Credit Card is its generous welcome bonus. New cardholders will get Rs. 500 cashback on 1st fuel transaction of Rs. 500, a Rs. 1,000 discount on ZoomCar rentals, and discounts up to 50% on domestic and international rental cars with Eco Rent A Car and Europcar. Further, users will get 5% cashback up to ₹1000 on their first EMI transaction.
These bonuses not only create an immediate value but also encourage users to actively engage with their new card. By starting off strong, cardholders can more easily meet their savings goals.
Reward Benefits
The reward benefits of the IDFC First Power Plus RuPay Credit Card are particularly beneficial for those who frequently fuel up. Users earn an impressive 6.5% back on fuel purchases when they spend using this card. For someone spending ₹10,000 on fuel each month, that equates to ₹650 in rewards every month.
But that's not all: Users get 5% cashback on grocery and utility bill payments. Max grocery and utility bill payments are capped at INR 2,000 per month. 5% cashback on fast tag recharge through the IDFC app. Cashback on Fasttag is capped at INR 1,000 per month. 0.50% cashback on all other spends, no capping, payment can be made through UPI too for all other spends.
Other Benefits
The IDFC First Power Plus RuPay Credit Card includes several additional benefits that can enhance a user's financial strategy.
Instant Credit Facility
Once approved, users have access to an instant credit limit. This feature can help in times of unexpected expenses or emergencies, offering peace of mind for road trips or urgent needs.
UPI Payments
User can link their RuPay card to any UPI appby following these steps.
Log into the IDFC FIRST Mobile Banking App (Google Play | App Store)
Click on Scan QR
Add RuPay Credit Card and Pay easily with UPI on your credit card
Easy Redemption Process
Users can redeem their accumulated reward points easily. The straightforward redemption process allows them to maximize their benefits without any hassle or confusion.
Lounge Access
You get 1 complimentary domestic airport lounge access per quarter using your RuPay card. You can enjoy free Wi-Fi, refreshments, newspapers, and magazines at the lounges. Unfortunately, this card does not provide access to international airport lounges.
Movie Benefits
Cardholders can get a 25% discount up to `100 on the purchase of movie tickets on the Paytm Mobile App. This offer can be availed once a month.
Other Benefits
Cardholders will get other benefits such as complimentary roadside assistance, personal accident cover, and lost card liability cover.
Cons to Consider
While the card has several advantages, potential users should keep a few drawbacks in mind.
Limited Acceptance
The acceptance of RuPay is increasing but may still be limited in certain areas, particularly for international transactions. Users could face challenges when traveling abroad.
Interest Rates
If users carry a balance from month to month, they may encounter interest rates that could offset their benefits. Responsible management of the card is essential.
Low Cashback
Besides fuel purchases, the IDFC First Power Plus RuPay Credit Card is not ideal for shopping or other expenditures, as it offers significantly lower cashback on these transactions compared to other credit cards on the market.
Understanding Fees and Charges
To make the most informed decision, it's critical to understand the fees associated with the IDFC First Power Plus RuPay Credit Card:
Joining fee: INR 499.
Annual fee: INR 499. The renewal fee is waived upon spending INR. 1,50,000 within a year.
Foreign currency markup: 3.5%
Cash withdrawal fee: INR 199.
Late payment charges: Upto INR 1250.
Interest rate: 0.75-3.65% monthly, 9-43.8% annually.
Final Thoughts
"In short, this card offers significant financial flexibility, especially for frequent drivers. The generous rewards and low fees make it a strong contender. However, like any credit card, responsible use is key. If you're looking to maximize your fuel savings, the IDFC First Power Plus RuPay Credit Card is definitely worth considering."
If you want to read a more detailed review of this card and find out its AI-powered unbiased rating, click here.
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