IDFC FIRST Quantum+ Credit Card: FD-Backed Lifetime-Free Card Offering Up to 6.5% Interest, 2% Cashback & Zero Forex – Are You Eligible?

Getting a credit card can be difficult for individuals with limited credit history or without conventional income proof. The IDFC FIRST Quantum+ Credit Card offers an FD-backed route, requiring a minimum fixed deposit of ₹5,000. Along with a credit limit linked to the FD, the card provides cashback on eligible spends, UPI benefits and zero forex markup. 

IDFC FIRST Quantum+ Credit Card

• Joining Fee/Annual Fee: Nil
• Annual Fee Waiver: Not applicable as the card is lifetime free
• Credit Limit: 100% of the FD amount
• Card Type: FD-backed credit card
• Income Proof/Credit History: Not required

Eligibility 

• Age: 18–80 years
• Applicant must be a resident of India
• Valid Aadhaar and physical PAN required for Video KYC
• Minimum FD of ₹5,000 with IDFC FIRST Bank
• No income proof or existing credit history required

Cashback Benefits 

• Earn 1% cashback on eligible online spends up to ₹10,000 per statement cycle. 
• Earn 2% cashback on eligible online spends above ₹10,000 per statement cycle.
• Earn 1% cashback on eligible retail transactions.
• Earn 1% cashback on eligible UPI Scan & Pay transactions through the IDFC FIRST Bank app.
• Earn 0.5% cashback on select categories, as applicable. 
• Cashback is capped at ₹500 per statement cycle. 

Travel & Forex Benefits 

• Get zero forex markup on international transactions. 
• Earn an additional 1% Bonus cashback on eligible flight and hotel bookings made through the IDFC FIRST Bank app.
• The additional travel cashback is subject to the applicable terms and conditions. 

Also read: UNI GoldX Credit Card vs PNB Zaggle: DigiGold Rewards or 10 Complimentary Airport Lounge Visits – Which Card Should You Choose?

FD-Backed Credit Limit 

• The card requires a minimum fixed deposit of ₹5,000. The credit limit is set at 100% of the FD amount. 
• The linked FD can earn interest of up to 6.5% per annum, as applicable.

Other Benefits 

• Get personal accident insurance cover of up to ₹2 lakh.
• Get fraud protection of up to ₹25,000, subject to applicable conditions.
• Access funds without breaking your FD: Withdraw cash interest-free for up to 45 days at a fee of ₹199 + GST. 

Cashback Calculation on ₹75,000 FD

Note: This illustration assumes the entire ₹20,000 monthly spend is eligible online spending. The first ₹10,000 earns 1% cashback and the incremental ₹10,000 earns 2% cashback. The resulting ₹300 monthly cashback remains below the ₹500 statement-cycle cap. Actual cashback may vary based on eligible transactions, exclusions and applicable card terms and conditions. 

To apply for this card, visit the Official Website

Who Should Consider the IDFC FIRST Quantum+ Credit Card? 

The IDFC FIRST Quantum+ Credit Card could be suitable for users looking for an FD-backed credit card with no joining or annual fee. Its ₹5,000 minimum FD requirement, cashback structure, UPI benefit and zero forex markup make it relevant for users seeking a credit card without traditional income or credit-history requirements.