Synopsis: IDFC bank launched their first zero forex diamond reserve credit card on January 6th in Mumbai, with an aim of targeting an audience of frequent international travelers by offering them 0% on foreign exchange rates along with travel rewards and lifestyle benefits.
Since international travel and overseas spending’s have become common, the IDFC bank has introduced a new credit card that charges 0% on foreign exchange rates designed for global users that eliminates forex markup fee, one of the biggest hidden costs on international purchases.
IDFC Diamond Reserve Credit Card
About the card: The IDFC Diamond Reserve credit card is a premium travel credit card that is designed to blend accelerated rewards and travel benefits and the lifestyle perks that do not expire and can be redeemed flexibly while travelling and shopping.
The credit card stands out in the Indian credit card market by offering a zero-rate interest on forex markup on all international transactions. This means that cardholders can make international purchases without paying any hidden or extra foreign currency conversion fee.
Fees and charges
- Joining/annual fee: Rs 3,000 + GST
- Annual fee waiver: annual fee waived on spending Rs 6 lakhs in the previous year.
- Interest rate: 8.5% per annum.
- Forex Mark-up rate: 0%
Features and Benefits
- Welcome benefits
- Vouchers worth Rs 500 from merchant websites from Amazon, Lifestyle, Uber and BigBasket.
- 5% cashback, worth up to Rs 1,000 on first EMI transaction.
- Lounge benefit: two domestic and international airport lounge access per yearly quarter, subjective to a minimum expenditure of Rs 20,000 in the previous month.
- Golf benefit: two complimentary golf lessons per month.
- movie benefit: buy one get one free on movie tickets every month with a discount of Rs 250 on the second ticket.
- Hotel booking benefit: ITC hotel offers on booking for two nights and getting a complimentary stay for the third night.
- Travel insurance benefit: an insurance cover of flight cancellation up to Rs 25,000 for lost baggage and delayed flights, air accident insurance cover up to Rs 1 crore and personal accident cover up to Rs 10 lakhs.
Also Read: Is HDFC Regalia Gold Credit Card Still the Best Premium Card in 2026? A Detailed Overview
Reward program structure
- 60 reward points for every Rs 150 spent on hotel bookings.
- 30 reward points for every Rs 150 spent on flight bookings.
- 10 reward points for every Rs 150 spent on other expenses.
- 10 times reward points for monthly expenses exceeding Rs 20,000.
- Redeem reward points at a value of 1 RP = Rs. 0.25
Eligibility criteria
Cardholders must be minimum 18 years of age.
The cardholder must be an Indian citizen with a permanent residential address.
Who should consider this credit card?
You are looking for a credit card with a zero-forex mark-up rate on international spends.
FAQs
Step 1: Visit the official website of IDFC FIRST Bank and navigate to the card’s page.
Step 2: Click on “Apply Now” to register and verify your details.
Step 3: Fund your fixed deposit amount online (minimum Rs. 20,000).
Step 4: Complete your KYC by entering the required details.
The minimum amount required for the IDFC Diamond Reserve credit card is Rs 20,000.
100% of the Fixed Deposit amount.
Written by Atin Kevin
