IDFC Debit Card Rewards Point devalue

Yes.

• Joining Fee: 5000+GST = 5900/- (No Waiver Criteria)
• Welcome Benefit: 5000 worth GV
• Renewal Fee: 1500+GST = 1770/-
• Renewal Fee Waiver Criteria: Spend 3L+ in previous year

Return Ratio: If you max. out the spends, i.e. 1L per month X 12= 12L in a year, you receive:

1. 1000 GV per month X 12 = 12K points
2. 5000 GV per year X 1 = 5K points

Total= 17K on an effective joining fee of (5900-5000)= 900 INR. Renewal fee anyway will be Zero from next year upon spending 3L+ in previous year.

• Return Percentage for 1st year= (17K-900)/12L ~ 1.34%
• Return percentage next year onwards= 17K/12L ~ 1.41%

Best Value: If your spends aren’t that high, hitting 5L in a year is the sweet spot.

In 1st year You get 5K Monthly + 5K Annual benefit = (10K-900)/5L ~ 1.82%

And next year onwards you get (5K + 5K)/5L ~ 2%

If you spend more than 12L in a year, return value goes downwards. As you can see, this card holds good till annual spends of 12L max only (preferably 1L per month spend with minimum 10K in a month to earn cashbacks as GV)

GVs available: Wide range of GVs with multiple price points are available for redemption against both Welcome/ Monthly benefits. Notable ones are Amazon, Flipkart, Croma, Bigbasket etc.

If you want to know where you spend RBL Signature+ debit card -

Paytm app - direct use debit card for cc bill repayment or Paytm wallet load

mobikwik app - cc bill repayment

Bajaj app - cc bill repayment

Payzapp app - cc bill repayment

Cred app - cc bill repayment (pay more than Rs50,001+ or selected user 10,001+ and get debit card option)

Amazon full kyc wallet - load and spend anywhere via Amazon wallet UPI for bank transfer/cc bill repayment or merchant transaction via UPI.