Synopsis: This article talks about the IDFC FIRST Hello Cashback Credit Card, which is FD-backed card explains the various features, cashback, benefits and rewards, while also mentioning that no income requirements to get the card.
The IDFC FIRST Hello Cashback Credit Card is a secured credit card provided by IDFC FIRST Bank, backed by collateral from a Fixed Deposit (FD). The minimum FD that can be used as collateral security is only ₹10,000. The credit limit available to the customer is equal to 100% of the FD, however, the fixed deposit continues to earn interest, which means the customer is getting double benefits from one investment, interest from the FD and cashback from spending. The customer can withdraw money up to 100% of their FD balance interest-free from ATMs for up to 45 days with a nominal fee of ₹199 + GST per transaction. To get a higher credit limit, customers can link their other fixed deposits directly to this card.
Cashback Structure
- 3% cashback on online spending of up to ₹10,000 per statement cycle
- 5% cashback on additional online spending of more than ₹10,000
- 1% cashback on non-online/offline spending
- 1% cashback on UPI spending via the IDFC FIRST Bank Mobile application
- 1% cashback on essentials including utilities, insurance, education, FASTag recharge, railway spends, wallet recharge, rent payment, jewelry purchase, and govt services
- Extra 1% cashback on booking flights/hotels via the IDFC FIRST Bank mobile application (maximum 6% for travel)
Cashback will be credited to the account of the cardholder the very next day following the Payment Due Date (PDD) if the Minimum Amount Due (MAD) is fully paid before PDD. The maximum cashback available on any particular statement cycle is ₹1,500 in all, with ₹1,000 on online spends only. Most importantly, the cashback does not expire.
Annual Fee Waiver and Milestone Benefits
- Spending above ₹2,00,000 per year during the card’s anniversary period entitles you to a complete annual fee waiver
- Spending between ₹1,00,000 – ₹1,99,999 per year during the card’s anniversary period entitles you to a waiver of 50% of annual fees
- This milestone structure rewards regular everyday use and makes the card effectively free for moderate-to-active spenders
Built-In Privileges and Safety Net
- Insurance Coverage Plans (provided by New India Assurance):
- Card Liability Insurance (theft, fraud, online fraud): ₹25,000
- Personal Accident Insurance: ₹2,00,000
- Credit Shield Insurance (in case of accidental death): ₹50,000
- Purchase Protection Insurance: ₹25,000 for up to 60 days from the purchase date
- Roadside Assistance Services: 4 free RSA services per year, valued at ₹1,399 each, including services like towing, tire changes, jump-start, fuel delivery, and more, provided throughout India through Global Assure.
- Fuel Surcharges: 1% fuel surcharge waived (up to ₹100 per billing cycle) on fuel transactions ranging from ₹200 to ₹5,000.
To apply for the card, please visit the Official Website
Summary Table
Conclusion
The IDFC FIRST Hello Cashback Credit Card is a FD-backed option that offers relatively better cashback than most secured cards, especially for beginners building credit. However, its capped and conditional rewards mean it works best for moderate spenders rather than those seeking maximum returns.
Written by Shrikara
