Is the IDFC FIRST Diamond Reserve Credit Card Worth It?
Enter what you spend where this card pays more, and the benefits you would use. See what it is worth to you in rupees, after its fee.
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- FreeCost
- Rewards card
- ₹3,540 fee a year (with GST)
- Fee waived from ₹50,000 a month
- 0.5% on most spends
- 16 lounge visits a year
- Pays in reward points
- spending ₹50,000 or more a month: the ₹3,540 fee is waived
- flyers: 16 airport lounge visits a year
- spending abroad: 0% markup, most cards add 3.5%
- you spend less than ₹50,000 a month (₹6,00,000 a year, rent and wallet loads not counted): the ₹3,540 fee is then charged
- most of your spending is fuel or foreign spends: those earn nothing on this card
- you pay mostly by UPI: a Visa or Mastercard card cannot pay by UPI
- you spend a lot on government payments: the card's terms do not state a rate there, so we count nothing
Your spend a month, by kind
Terms on the normal rate: 3 RP per ₹150 up to ₹20,000/month (~0.5%), 10 RP per ₹150 on incremental above ₹20,000 and on birthdays (~1.67%); no reward points on international spends despite the 0% forex
Total on the card: ₹0 a month
Abroad and benefits
Every rate on this card, and what your spend earns
| Spend category | Rate | Monthly cap | Where it applies | Your spend earns |
|---|---|---|---|---|
| UPI payments (scan and pay) | Earns nothing | - | a Visa or Mastercard card cannot pay by UPI | - |
| Online shopping | 0.5% | No cap | The card's normal rate | - |
| Dining and food delivery | 0.5% | No cap | The card's normal rate | - |
| Groceries | 0.5% | No cap | The card's normal rate | - |
| Travel: flights, hotels, trains | 0.5% | No cap | The card's normal rate | - |
| Fuel | Earns nothing | - | earns nothing on this card | - |
| Bills and recharges | 0.5% | No cap | The card's normal rate | - |
| Rent | 0.5% | No cap | The card's normal rate | - |
| Insurance premiums | 0.5% | No cap | The card's normal rate | - |
| School and college fees | 0.5% | No cap | The card's normal rate | - |
| Wallet top-ups | 0.5% | No cap | The card's normal rate | - |
| Taxes and government payments | Not stated | - | the card's terms state no rate here; many cards pay nothing on these | - |
| Spend abroad or in a foreign currency | Earns nothing | - | earns nothing on this card | - |
| Everything else | 0.5% | No cap | The card's normal rate | - |
Card data sourced via CardAdvisor.in, India Credit Card Facts, CC BY 4.0, adapted by SkyloFin.
Common Questions
When is a credit card worth its annual fee?
When the rewards you actually earn in a year are more than the fee plus 18% GST, or when you spend enough for the bank to waive the fee. This calculator works out both from the card's own published terms.
Why is GST added to the fee?
Card fees carry 18% GST, so a ₹1,000 fee costs ₹1,180. Where the bank already quotes the fee with GST, it is not added twice.
What does 'capped' mean?
Many cards limit the reward you can earn in a month in a category. Spending above the cap earns nothing extra, so the calculator stops counting there.
Is a lifetime free card always better?
Not always. A paid card with higher rewards can leave you with more once you spend enough. The break-even line shows the monthly spend where that starts.
