Home About Contact

IDFC Diwali Offer (2022): Get Points & Cashback on Credit / Debit Card spends

By /

Like the majority of other banks, IDFC First Bank is offering a solid selection of credit and debit card offers for this holiday season. Here’s a brief examination of the same:

Targeted Offer :

  • Offer: Spend Rs.XX on IDFC Credit Card and get vouchers/points worth Rs.YY
  • Offer Type: Spend linked, targeted offer.
  • Offer Period: 5th Oct, 2022 (after enrolling) to 31st Oct, 2022
  • Excluded Spends: Insurance, rent, fuel, wallet load
  • Fulfilment: before 30th Dec 2022
  • You need to enrol, as per the email you’ve received.

I got the “Spend 10K INR and get 500 INR cashback” deal, which is probably why I haven’t used my IDFC Wealth Credit Card much lately.

Some people have received offers for 5K points, however it’s unclear which variety of these offers is the highest.

If you do the maths, aside from the usual perks, you generally get a good return on your investment.

Top Spender Offer :

  • Offer: Be a top spender on IDFC Credit Cards and avail various gadgets, from iPhone 14 Pro to Apple Watch and more.
  • Offer Type: It says targeted offer but ideally most have received one.
  • Offer Period: 5th Oct, 2022 to 31st Oct, 2022 (daily/hourly winner dates are different though)
  • Spend restriction: Only personal spends are taken into account.
  • Excluded Spends: Insurance, rent, fuel, wallet load
  • Fulfilment: before 30th Dec 2022
  • You need to enrol, as per the email you’ve received.

The top spender offers are individually conducted for the appropriate credit card types, which is an interesting feature. So it might be much simpler to win if you have entry-level cards.

Furthermore, it appears they could just as well award the prizes as incentives or Cashback, at their discretion.

That’s advantageous in a manner because IDFC awards are already equivalent to cash. In a perfect world, the bank would benefit by offering rewards, so let’s assume that’s what they’re doing.

Debit Card Offer :

  • Offer: 1% Cashback on all spends (Online, POS & contactless)
  • Offer Period: 10th Oct, 2022 to 10th Nov, 2022
  • Max Cap: 2500 INR (2.5L Spend)
  • Excluded Spends: Wallet loads
  • Fulfilment: within 48 hrs of txn

The IDFC Debit card offer is brief and straightforward, albeit it has been somewhat shaved down from previous examples. Nevertheless, 1% is still a respectable rate for a debit card.

Conclusion :

Although I don’t like top spender offers, I’d like to test this one out if you could because of the way it’s designed.

Other than that, the targeted credit card offer is a respectable one. However, I wish IDFC would start to provide more secure, premium offers like those from Amex or Axis in the future.

Leaving that aside, it’s good to see the debit card offers are still appearing.

Just in case, if you don’t already have an IDFC credit card, think about getting an IDFC Select or IDFC Wealth credit card.

Leave a Reply

Your email address will not be published.