Verified 2026 Bank MITC Rules & RBI ExclusionsUpdated: 2026-03-01
IDFC FIRST Select Credit Card vs HDFC Millennia Credit Card for ₹200,000 Monthly Spend
Comparing IDFC FIRST Select Credit Card vs HDFC Millennia Credit Card at ₹200,000/month. HDFC Millennia Credit Card wins, delivering ₹19,680 net annual value (0.82% ROI) vs ₹15,840 for IDFC FIRST Select Credit Card.
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₹2,00,000(₹24,00,000/yr)
₹10,000/mo₹1,00,000/mo₹2,50,000/mo
Winner at ₹2,00,000/mo+ ₹3,840/yr Higher Value
HDFC Millennia Credit Card
Delivers ₹19,680 net annual returns (0.82% ROI) vs ₹15,840 on IDFC FIRST Select Credit Card.
Card A
IDFC FIRST Select Credit Card
IDFC FIRST Bank
₹15,840Net Annual Benefit
Gross Rewards:₹15,840/yr
Effective Fee (incl. GST):Waived (₹0)
Net ROI on Spend:0.66%
Card B
HDFC Millennia Credit Card
HDFC Bank
₹19,680Net Annual Benefit
Gross Rewards:₹19,680/yr
Effective Fee (incl. GST):Waived (₹0)
Net ROI on Spend:0.82%
Fee Waiver Progress (1L target):100%
⚠️ Hits monthly cashback caps: -₹54,000/yr lost
2-Card Optimization HackMaximize Trapped / Capped Spend
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Routes excluded categories:Amazon, Flipkart & Myntra Shopping (Excess Spends)Swiggy, Zomato & Dining Out (Excess Spends)Blinkit, Zepto, Instamart & Supermarkets (Excess Spends)Flights, Hotels & IRCTC Trains (Excess Spends)
Detailed 12-Category Rupee Breakdown (@ ₹2,00,000/mo)
| Spend Category | Monthly Spend | IDFC FIRST Select Credit Card | HDFC Millennia Credit Card |
|---|---|---|---|
| Amazon, Flipkart & Myntra Shopping | ₹50,000/mo | ₹500 (1%) | ₹250 (Capped) |
| Scan & Pay Merchant UPI | ₹30,000/mo | ₹150 (0.5%) | ₹300 (1%) |
| Electricity, Water, Gas & Broadband Bills | ₹24,000/mo | ₹120 (0.5%) | ₹240 (1%) |
| Swiggy, Zomato & Dining Out | ₹24,000/mo | ₹240 (1%) | ₹300 (Capped) |
| Blinkit, Zepto, Instamart & Supermarkets | ₹20,000/mo | ₹100 (0.5%) | ₹250 (Capped) |
| Petrol & Diesel at Fuel Stations1% fuel surcharge waiver up to ₹300/month on transactions between ₹200 and ₹5,000 | ₹16,000/mo | 0% Excluded | 0% Excluded |
| Flights, Hotels & IRCTC Trains | ₹16,000/mo | ₹160 (1%) | ₹200 (Capped) |
| LIC, Health & Term Insurance Premiums | ₹10,000/mo | ₹50 (0.5%) | ₹100 (1%) |
| House Rent & School/College Fees1% fee + 18% GST applies to rent payments; zero reward points earned | ₹10,000/mo | 0% Excluded | 0% Excluded |
| International Travel & Forex Spends | ₹0/mo | ₹0 (1%) | ₹0 (1%) |
| Gold, Silver & Jewelry Purchases | ₹0/mo | ₹0 (0%) | ₹0 (0%) |
| Income Tax, GST & Challan Payments | ₹0/mo | ₹0 (0%) | ₹0 (0%) |
| Net Annual Benefit | ₹24,00,000/yr | +₹15,840 | +₹19,680 |
Frequently Asked Questions
Which card is better between IDFC FIRST Select Credit Card and HDFC Millennia Credit Card for ₹200,000/month?▼
At ₹200,000/month (₹2,400,000/year), HDFC Millennia Credit Card mathematically outperforms IDFC FIRST Select Credit Card by ₹3,840/year. HDFC Millennia Credit Card delivers ₹19,680 net annual benefit (0.82% effective yield), while IDFC FIRST Select Credit Card returns ₹15,840 (0.66% effective yield).
Will the annual fee be waived at ₹200,000 monthly spend?▼
On an annual spend of ₹2,400,000: IDFC FIRST Select Credit Card annual fee is waived (₹0). HDFC Millennia Credit Card annual fee is waived (₹0).
How do reward caps impact the earnings on both cards?▼
At this spend tier, IDFC FIRST Select Credit Card loses ₹0/year to monthly cashback caps, while HDFC Millennia Credit Card loses ₹54,000/year. IDFC FIRST Select Credit Card remains uncapped at this spend. Capped categories on HDFC Millennia Credit Card: Amazon, Flipkart & Myntra Shopping, Swiggy, Zomato & Dining Out, Blinkit, Zepto, Instamart & Supermarkets, Flights, Hotels & IRCTC Trains.
What is the breakeven monthly spend between IDFC FIRST Select Credit Card and HDFC Millennia Credit Card?▼
The calculated crossover breakeven spend is ₹5,000/month, where higher-fee benefits overtake the lower-fee option.