IDFC FIRST Bank has launched ‘Zero-Forex Diamond Reserve Credit Card’, a premium travel and lifestyle offering primarily for affluent global travellers with accelerated travel rewards and lifestyle benefits.
The card comes with 0% forex markup and does not charge interest on ‘ATM Cash Withdrawal’ globally till the payment due date. But the bank will charge ₹199 per cash withdrawal. Priced at ₹3000 + GST, the ‘Diamond Reserve Credit Card’ comes with a fee waiver if the annual spend is more than ₹6 lakh.
Features, benefits and rewards of the card
- 0% forex markup on all international spends.
- Earn up to ‘60 Reward Points’ for every ₹150 spent on hotel bookings via the app. With each ‘Reward Point’ valued at ₹0.25, that’s ₹15 back on every ₹150 spent—an effective 10% value back on hotel stays.
- Earn up to 40 ‘Reward Points’ for every ₹150 spent on flight bookings via the app. That’s ₹10 back on every ₹150 spent—an effective 6.6% value back on flight bookings.
- Earn up to 10 ‘Reward Points’ for every ₹150 spent on monthly spends. With each ‘Reward Point’ valued at ₹0.25, that’s ₹2.5 back on every ₹150 spent—an effective 1.66% value back.
- Two domestic lounge visits and two international lounge visits per quarter.
- Up to two complimentary golf rounds or lessons per month.
- One ‘Complimentary Meet and Greet’ airport service on annual spends of $1000.
- Buy-One-Get-One movie ticket every month.
- ITC Hotels: Book two nights and get the third night free.
- Free trip cancellation cover of ₹25000
- Insurance cover for lost baggage, delayed flights, air accident cover of ₹1 crore, and personal accident cover of ₹10 lakh
“Diamond Reserve is an ideal choice for customers with significant international travel exposure, who want a premium card that works seamlessly both overseas and in India,” said Shirish Bhandari, Head – Credit Cards, FASTag and Loyalty, IDFC FIRST Bank.
Other unique features
- Interest rates start at 8.5% per annum.
- 0% interest on ATM Cash withdrawal globally till the payment due date. Fee of ₹199 per withdrawal.
- No expiry of reward points- Lifetime validity.
- Freedom to redeem ‘Reward Points’ across any e-commerce platform or online purchase.
- Unlimited earnings—no caps or limits on reward point accrual.
- Up to 10X rewards points on ‘Credit Card’ spends above ₹20000 per billing cycle
- Fuel surcharge waiver at select fuel stations
Allirajan M is a journalist with over two decades of experience. He has worked with several leading media organisations in the country and has been writing on mutual funds for nearly 16 years.
