SBI vs IDFC FIRST Credit Cards: Zero Forex and Zero Fees Against Sheer Range

IDFC FIRST charges a 0% forex markup across its lineup on our list, and most of its cards carry no annual fee at all. SBI Card mostly lists 3.5% forex and a fee on nearly every card. That contrast shapes the whole comparison, though SBI's wider range still wins several categories.

Fees you pay to hold the card

IDFC FIRST Select, Millennia, Classic, Wealth and WOW all list no annual fee. Select dines and travels at 4% and asks for a ₹1,00,000 monthly income; Wealth wants ₹3,00,000. SBI's entry cards cost ₹499 (SimplyCLICK, SimplySAVE, Unnati) or ₹999 (Cashback), usually waived at ₹1 lakh to ₹2 lakh of spend. A waiver is easy to hit for heavy spenders, but a fee-free card has no condition to track. For low spenders, IDFC FIRST is simply cheaper. Our IDFC FIRST Select review and Millennia review show the details.

Foreign spending

This is IDFC FIRST's clearest win. A 0% markup on every card, including the no-fee ones, means a card in your wallet is already a travel card. SBI's best forex rate is 1.99% on Elite, Miles ELITE and Aurum; the cashback and shopping cards sit at 3.5%. On ₹1 lakh of overseas spend that difference is real money. If you spend abroad even occasionally, IDFC FIRST leads.

Fuel and groceries

IDFC FIRST Power+ is a RuPay card at ₹499 (waived at ₹1.5 lakh) listing 6.5% on fuel and 5% on groceries and utilities, the last two capped at ₹2,000 a month. SBI's BPCL Octane costs ₹1,499 and lists 25% on fuel under a ₹625 monthly cap, plus 10% on dining and groceries under a ₹1,875 cap. The Octane has the higher headline numbers but needs more spend to pay back its fee. For a moderate fuel budget IDFC FIRST Power+ is simpler; for a large one, check the Octane's cap against your bills.

Online shopping and cashback

SBI Cashback Card pays 5% online up to ₹2,000 a month for ₹999, waived at ₹2 lakh. IDFC FIRST Hello Cashback is ₹1,000 with 5% online and 6% on travel, waived at ₹2 lakh. These two are close on paper. The IDFC card also carries zero forex. SBI has more co-brand options for particular platforms, such as Flipkart, Paytm and Aditya Birla. See our SBI Cashback review.

Premium cards and lounges

SBI Elite (₹4,999, waived at ₹10 lakh) lists 8 domestic and 6 international lounge visits at a 1.99% forex rate. IDFC FIRST Mayura costs ₹5,999 with 16 domestic and 16 international visits, a ₹2,08,333 income floor, and 0% forex. Diamond Reserve at ₹3,000 (waived at ₹6 lakh) is the cheaper super-premium option with 6.67% on travel. Gaj sits at ₹12,500. SBI's top end is Aurum at ₹9,999, with a ₹3,30,000 income floor.

At the premium end IDFC FIRST offers more lounge visits per rupee and no forex markup. SBI's edge is a wider choice of mid-premium co-brands. Read the Mayura review alongside the SBI Elite review.

Which should you pick

If you travel abroad or want a fee-free card, IDFC FIRST Select or Classic comes first. If you want a specific airline, retailer or fuel brand, SBI almost always has the co-brand. For online shopping, the SBI Cashback Card and IDFC FIRST Hello Cashback are a near tie, and the forex rate should settle it. For lounges, the Mayura beats Elite on visits but not on income accessibility.

Read more

The SBI credit cards guide and IDFC FIRST Bank credit cards guide cover each lineup in full. For another look at SBI against a private rival, try SBI vs ICICI credit cards.