Federal Bank Wave Credit Card
Rewards & Benefits
Welcome Benefits
None
Milestone Benefits
Milestone Benefit: If the user spends Rs 50,000 in a quarter, then he will receive 1000 bonus reward points.
Cashback Rate
For every Rs. 200 you spend, you will earn 1 reward point. 1 RP = 0.25 Paisa. Effective cashback rate: 0.125%.
You can also get 10% cashback on your first five UPI transactions with this card.
Movie Benefits
Dining Benefits
Other Benefits
Lounge Access
Fees & Charges
Joining Fee
0
Annual Fee
0
Cash Advance Fee
Interest rate
41.88% (3.49% per month)
Late Payment Fee
Late Payment Charges: INR 100 to INR 1000.
Foreign Currency Transactions Fee
Foreign Currency Mark-up Fees: 3.5%
Other Fees
Lifetime free credit card. | Cash Advance Charges: NIL. | Reward Redemption Fees: Rs. 99/- per redemption request.
Cons
No airport lounge access or travel benefits.
Limited acceptance.
Very low reward rates.
Reward System: For every Rs. 200 you spend, you will earn 1 reward point. 1 RP = 0.25 Paisa. Effective cashback rate: 0.125%. You can also get 10% cashback on your first five UPI transactions with this card.
Milestone Benefit: If the user spends Rs.50,000 in a quarter, then he will receive 1000 bonus reward points.
Rewards & Benifits
Welcome Benefits
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Rewards System
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International Forex Markup
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Welcome Benefits and Reward System
Special Features
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Eligibility Criteria
Age: You must be at least 18 years old to apply.
Citizenship: You should be a resident Indian citizen.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Login to the FedMobile app.
Tap Click on Wave Credit Card banner.
Accept T&C & verify with MPIN.
Your Wave Credit Card is ready to use.
Contact Details
1800-420-1199
Account Opening and Procedure
Recommended Credit Cards
Pros:-
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Cons:-
Reward System: For every Rs. 200 you spend, you will earn 1 reward point. 1 RP = 0.25 Paisa. Effective cashback rate: 0.125%. You can also get 10% cashback on your first five UPI transactions with this card.
Milestone Benefit: If the user spends Rs.50,000 in a quarter, then he will receive 1000 bonus reward points.
No airport lounge access or travel benefits.
Limited acceptance.
Very low reward rates.
The Federal Bank Wave Credit Card is a decent option for those looking for a free, no-frills credit card for domestic transactions with a focus on utility bill payments through UPI. However, if you travel internationally frequently, require a wider range of reward redemption options, consider other cards.
The Federal Bank Wave Credit Card is a decent option for those looking for a free, no-frills credit card for domestic transactions with a focus on utility bill payments through UPI. However, if you travel internationally frequently, require a wider range of reward redemption options, consider other cards.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Fees & Charges
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Fuel Surcharge
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Billing Cycle
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