IDFC First Bank First Wow Credit Card
MyRupaya Ratings
Product Details
Credit Card Name :
IDFC First Bank First Wow Credit Card
Bank Name :
IDFC First Bank
Type :
Rewards Credit Card
Interest Rate :
3.6% per month (52.86% per annum).
Eligibility :
Applicant must be aged 18 yrs. or above.
Indian Resident.
Minimum FD : Rs 2000 (existing account holder) & Rs 5000 (others).
Pros
Welcome Benefit: Users will get 5% cashback (up to ₹1000) on the first EMI done within 30 days of card generation.
Reward System: Users will get 4 reward points per Rs. 150 spent. The value of 1 reward point = Rs 0.25. Cashback rate: 0.66%.
Lifetime free card (No joining/annual fees).
Zero documentation & credit score check.
100% credit limit of your FD amount.
Zero Forex mark up fees.
Retail therapy all year long with 300+ merchant offers and 20% discount across 1,500+ restaurants.
100% cash withdrawal of FD amount.
Complimentary roadside assistance worth ₹139.
Fuel charges waiver of 1% at all the fuel stations across India, up to ₹200/month.
Personal accident cover of ₹2,00,000 and Lost card liability cover of ₹25,000.
Up to 20% discount at 1500+ restaurants | Up to 15% discount at 3000+ Health & Wellness outlets.
Cons
Low cashback rate.
Limited number of value add features.
Pros & Cons
Welcome Benefits
Users will get 5% cashback (up to ₹1000) on the first EMI done within 30 days of card generation.
Rewards System
Users will get 4 reward points per Rs. 150 spent. The value of 1 reward point = Rs 0.25. Cashback rate: 0.66%.
International Forex Markup
3.5%.
Welcome Benefits and Reward System
Special Features
Lifetime free card (No joining/annual fees).
Eligibility Criteria
Applicant must be aged 18 yrs. or above.
Indian Resident.
Minimum FD : Rs 2000 (existing account holder) & Rs 5000 (others).
Benefits
No annual fee or joining fee.
Low interest rates, starting at 7.25% p.a.
High credit limit, up to 100% of the fixed deposit amount.
Complimentary roadside assistance.
Fuel surcharge waiver of 1% at all fuel stations across India, up to ₹200/month.
Personal accident cover of ₹2,00,000.
Lost card liability cover of ₹25,000
Up to 20% discount at 1500+ restaurants
Lost card liability cover of ₹25,000.nts.llness outlets.
Airport lounge access.
Complimentary movie tickets.
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Here are the steps on how to apply for an IDFC FIRST WOW! Credit Card:
Go to the IDFC FIRST Bank website and click on the "Credit Cards" tab.
Click on the "WOW! Credit Card" link.
Click on the "Apply Now" button.
You will need to create an account or login to your existing account.
Enter your personal and contact details.
Select the type of fixed deposit you want to create.
Fund your fixed deposit.
Complete the KYC process.
Submit your application.
The IDFC FIRST WOW! Credit Card is a secured credit card, which means that it is backed by a fixed deposit.
Contact Details
Toll Free No: 1860 258 2000
Whatsapp banking (for registered Nos): Number to connect: 95555 55555
Email us at Banker@idfcfirstbank.com
Account Opening and Procedure
Recommended Credit Cards
Pros:-
Change the text to include your own content. Adjust the font, size or scale to customize the style.
Cons:-
Welcome Benefit: Users will get 5% cashback (up to ₹1000) on the first EMI done within 30 days of card generation.
Reward System: Users will get 4 reward points per Rs. 150 spent. The value of 1 reward point = Rs 0.25. Cashback rate: 0.66%.
Lifetime free card (No joining/annual fees).
Zero documentation & credit score check.
100% credit limit of your FD amount.
Zero Forex mark up fees.
Retail therapy all year long with 300+ merchant offers and 20% discount across 1,500+ restaurants.
100% cash withdrawal of FD amount.
Complimentary roadside assistance worth ₹139.
Fuel charges waiver of 1% at all the fuel stations across India, up to ₹200/month.
Personal accident cover of ₹2,00,000 and Lost card liability cover of ₹25,000.
Up to 20% discount at 1500+ restaurants | Up to 15% discount at 3000+ Health & Wellness outlets.
Low cashback rate.
Limited number of value add features.
IDFC First Wow Credit Card is a decent secured card. It has limited number of value add features however, most secured credit cards offer only a limited number of value add features. In its class, i.e., secured credit cards, it offers a decent number of benefits.
IDFC First Bank First Wow Credit Card
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
No Annual Fee (lifetime free credit card).
No Add-on Card Fee.
Interest free cash withdrawl for up to 48 day.
Cash advance transaction fees is Rs 199 (plus taxes)
OVL Charges: 2.5% of the over-limit amount subject to a minimum charge of Rs 500.
Late Payment Fee: 15% of Total Amount Due (minimum Rs 100 & max Rs 1250).
Forex Markup: 0% for all international transaction.
Reward Redemption Fee : Rs 99 (plus taxes).
EMI Fees: 1% of transaction value (minimum Rs99).
Fuel Surcharge
1%, however, the fuel surchage is wiaved upto INR 200 per month.
Billing Cycle
30 Days.