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Do you use a food-ordering app or a ride-hailing service?
If you do, you must be familiar with their referral programs, where you can refer your friends or relatives to join the app to use their service and get rewarded in the process. Freebies, discount coupons, cashbacks - the benefits of referrals are many.
What if you can enjoy the same benefits with your credit card?
IDFC FIRST Bank has introduced a new Refer and Earn program that rewards you for referring your credit card to others. While you enjoy the benefits of referrals, the referee can also receive a credit card that meets their needs.
Let’s delve into the various aspects of the program and answer some of the queries that you might have.
The Refer and Earn program allows credit cardholders to refer eligible credit cards to their loved ones.
What are the benefits of the Refer and Earn program?
The Refer and Earn program for credit cards is beneficial for both the referrer and the referee. Here’s how -
Here are the benefits that you can get when you refer your credit card to others -
a. Attractive cashback
When you refer a credit card and the referee applies for it, you get 5% cashback, up to ₹1000, on your statement month’s transactions. This cashback is available in the first 30 days of issuance of the referee’s credit card.
If you refer the Ashva or Mayura Credit Cards, the maximum cashback limit increases to ₹2000.
b. Offering credit card benefits to loved ones
You can extend the benefits of a credit card to your loved ones, which can provide them with access to credit and ease financial transactions.
In addition to you, the referred individual can also enjoy various benefits under the bank's referral program. These benefits include the following -
a. Credit access
The referee can get a credit card and unlock the credit access available for their financial transactions. This increases their purchasing power and helps them manage their finances easily.
b. Joining benefits
When the referee applies for an IDFC FIRST Bank Credit Card and uses it, they can unlock attractive joining benefits like -
i. Gift vouchers worth ₹500 on spending ₹5000 or more within the first 30 days of card generation
ii. 5% cashback, up to ₹1000, on the transaction value of the first EMI conversion done within the first 30 days of card generation
c. Credit card benefits
Depending on the credit card selected, the referee can enjoy accelerated reward points, cashbacks, offers on movie ticket bookings, airport lounge access, fuel surcharge waiver, and more.
The credit card referral program is simple and easy. Here are the steps to refer someone to apply for a credit card -
You can unlock the benefits of the Refer and Earn program [3] [4] if you are an existing IDFC FIRST Bank customer. You must own the bank’s credit card or account to make a successful referral. Moreover, you can refer eligible credit cards to others. Eligible individuals who can be referred for the add-on credit card include your spouse, children, parents, siblings, and close friends.
For referees, activating the credit card is essential to enjoy the available welcome benefits.
Here are some tips that you can use to maximise the benefits available under the Refer and Earn program -
The Refer and Earn program from IDFC FIRST Bank is a win-win. It allows you access benefits that your primary credit card might not offer and gives referees a choice of credit cards to make the most of their lifestyle and spending habits, all with just a few taps and by sharing a link.
Understanding the nitty-gritty of the bank referral program can help you unlock its potential. Let your loved ones enjoy the benefits of IDFC FIRST Bank Credit Cards while you enjoy the added perks of referrals. Start referring today!
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.