IDFC Micro Enterprise Credit Card
- Joining fee
Nil
- Annual fee
₹1,000 + GST or 1% of the Credit Limit (Whichever is Lower)
- Best suited for
Business Expenses
- Reward type
Reward Points
Rewards
- Rewards rate
3 Reward Points for Every ₹200 Spent on Regular Business Spends; 3 Reward Points for Every ₹200 Spent on UPI Transactions Above ₹2,000; 1 Reward Point for Every ₹200 Spent on UPI Transactions Below ₹2,000, Insurance Payments, and Utility Bill Payments.
- Welcome benefits
2,000 Reward Points on First Successful Transaction of ₹500 or More Within 30 Days
- Reward redemption
1 Reward Point = ₹0.25
Fees & charges
- Rewards redemption fee
₹99 Per Redemption Transaction
- Foreign currency markup
2%
- Interest rates
1.5% per month
- Fuel surcharge waiver
Up to ₹200 Fuel Surcharge Waiver Per Month on Fuel Spends Above ₹20,000.
Product highlights
- No joining fee, making it affordable to get started.
- Annual fee of ₹1,000 + GST or 1% of the credit limit (whichever is lower).
- Earn up to 3 Reward Points for every ₹200 spent on eligible business and UPI transactions.
- Get 2,000 welcome Reward Points on your first successful transaction of ₹500 or more within 30 days of card setup.
- Convert purchases above ₹1,500 into easy EMIs for better financial flexibility.
- Enjoy a fuel surcharge waiver of up to ₹200 per month on fuel spends above ₹20,000.
- Benefit from a low 2% forex markup on international transactions.
- 1 Reward Point = ₹0.25, allowing you to redeem rewards against eligible purchases.
Pros & cons
Pros
- There is a low forex markup fee of 2%, which helps reduce the cost of purchases and payments made in foreign currencies.
Cons
- No travel or lifestyle benefits, such as airport lounge access, movie or dining offers, or golf privileges.
FAQs
Is there a joining fee for the Micro Enterprise Credit Card?
No, the Micro Enterprise Credit Card does not have any joining fee.
What is the annual fee for the Micro Enterprise Credit Card?
The annual fee is ₹1,000 + GST or 1% of your credit limit, whichever is lower.
What is the maximum credit limit available on the Micro Enterprise Credit Card?
The card offers a credit limit of up to ₹5 lakh.
How can users earn reward points with the Micro Enterprise Credit Card?
You earn 3 Reward Points for every ₹200 spent on regular business purchases and UPI transactions above ₹2,000. For UPI transactions up to ₹2,000, you earn 1 Reward Point for every ₹200 spent. Each Reward Point is worth ₹0.25.
Does the Micro Enterprise Credit Card offer a fuel surcharge waiver?
Yes, the card offers a fuel surcharge waiver of up to ₹200 per month on fuel spends exceeding ₹20,000 in a statement cycle.