Fi-Federal Credit Card

Quick verdict: Discontinued. The Federal–Fi co-branded credit card programme — MagniFi, AmpliFi and SimpliFi — was wound down effective 20 March 2026: reward accruals stopped, and Fi and Federal Bank asked holders to clear dues and close their cards. The slick app integration was always the real draw and the economics always ordinary; in the end, the fintech-card volatility this review long flagged is exactly what shut it down. If you still hold one, move your spending to a stable issuer.

For a while, the Fi-Federal card was a tidy idea: take the polished Fi Money app — instant digital issuance, real-time controls, clean spend tracking — and bolt a credit card onto it. The economics were never the point; the experience was. As of 2026, the point is moot, because the card no longer exists as a going concern.

What happened

On 20 March 2026, Federal Bank and Fi (Epifi) discontinued the entire Federal–Fi co-branded credit card programme — every variant, including MagniFi, AmpliFi and SimpliFi. This wasn't a devaluation or a quiet trimming of partners; it was a full wind-down. Per Federal Bank's own communication:

• Reward accruals stopped with effect from 20 March 2026 — no new points or value-back after that date.
• Cardholders were asked to clear all outstanding dues, **move any standing instructions or recurring

payments to an alternate card, and initiate closure** of the card.

• No further transactions should be made on the card.

So whatever the Fi-Federal card was on paper — lifetime-free, app-native, a 5%-on-weekends MagniFi or a 3%-value-back AmpliFi — none of it is a live proposition anymore.

The product it was — and the lesson

Stripped of the discontinuation, the Fi-Federal card was a fintech-native product whose appeal was the Fi Money app, not the rewards: instant issuance, toggle-on/off controls, transparent tracking, and modest earn rates redeemed through a young programme. We always said the same thing about it — get it because you're a Fi user, not as a reason to become one, and treat the rewards as a minor bonus.

The deeper lesson is the one this review carried as a caveat from the start: fintech-bank card partnerships in India carry real structural risk. RBI scrutiny of co-branding arrangements, shifting commercial terms, and the dependence on a partner bank's appetite mean these programmes can be switched off with a few weeks' notice. The Fi-Federal wind-down is the textbook case — a perfectly pleasant product that vanished not because cardholders did anything wrong, but because the partnership behind it ended.

What to do if you held one

If you were a MagniFi, AmpliFi or SimpliFi holder, the housekeeping is simple but worth doing properly:

• Redeem or reconcile any remaining reward balance per Fi and Federal's closure instructions before the

card is shut.

• Re-point every standing instruction and auto-debit — utilities, subscriptions, EMIs — to a card that

isn't going away.

• Clear dues and formally close the account so it doesn't linger on your credit report as an open,

unused line.

The bottom line

The Fi-Federal credit card is no longer a card you can hold or apply for: the Federal–Fi co-branded programme (MagniFi, AmpliFi, SimpliFi) was discontinued effective 20 March 2026, with reward accruals stopped and cardholders asked to close their accounts. It was a slick app experience with ordinary economics, and it ended for the reason we always flagged — fintech-card partnerships are volatile. If you're shopping for an app-native card, look at Jupiter Edge or OneCard, or Scapia for travel — but weigh each on its own current terms, and remember that the same structural risk applies. For the Fi-Federal itself, there's nothing left to recommend; there's only the exit to manage.