IDFC FIRST WOW! Credit Card is a premium credit card issued against an IDFC fixed deposit with a minimum FD of Rs 20,000. This secured credit card comes with no annual, membership or joining fees. No income proof and credit history are required for availing this credit card.
This lifetime-free credit card features personal accident cover, lost liability cover, and roadside assistance. FIRST WOW! Credit Card also offer welcome benefits, attractive rewards, dining offers, and Visa Infinite Premium Platform benefits. The pledged IDFC FIRST Bank FD would continue to earn interest for cardholders.
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IDFC FIRST WOW! Credit Card Highlights |
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| Card Type | Secured Credit Card (Backed by FD) |
| Annual Fee | NIL |
| Rewards Point | Up to 4X rewards on both online & offline spends |
| No expiry date on reward points | |
| Welcome Benefit | 5% cashback of up to Rs 1,000 on the first EMI transaction |
| Minimum FD Amount | Rs 20,000 (Rs 25,000 for NRIs) |
| FD Interest Rate | 7.25% p.a. |
| Credit Limit | Minimum 100% of the FD |
| Cash Withdrawal Limit | 100% of the FD value |
| Interest-Free Period | Up to 48 days depending on the card transaction |
| Finance Charges | 9% – 43.8% p.a. |
| Late Payment Charges | 15% of the total outstanding amount (Minimum – Rs 100; Maximum – Rs 1,250) |
IDFC FIRST WOW! Credit Card Rewards
- Cardholders can get 1 reward point on every spend of Rs 150 and its multiples (1 Reward point = Rs 0.25). This reward program is not available on insurance, fuel, cash withdrawals and EMI transactions.
- No expiry date on reward points
- Cardholders can use their reward points while shopping online or in-store through the ‘pay with points’ option. Reward Points can also be redeemed against amazing offers at idfcfirstrewards.poshvine.com. The reward points can be redeemed anytime, anywhere, online.
IDFC FIRST WOW! Credit Card Offers
- Welcome Cashback on EMI: 5% cashback (of up to Rs 1,000) is offered on the transaction value of the first EMI purchase within 30 days of card generation.
- Dining Offer: Up to 20% discount across 1,500 restaurants
- Health & Wellness Offer: Up to 15% discount over 3,000 health and wellness outlets
- Fuel surcharge waiver: This waiver offer is applicable on the transaction value of Rs 200 to Rs 5,000. The bank offers a 1% fuel surcharge waiver of up to Rs 200 at all fuel stations.
- Other offers: Over unique 300 merchant offers and 50+ In-app online discount offers
Other Key Privileges of IDFC FIRST WOW! Credit Card
- No income proof and documentation is required for availing of a secured credit card
- No markup charges are levied on foreign currency transactions
- Visa Infinite premium platform benefits
- Personal Accident cover of up to Rs 2 lakhs
- Lost Card Liability cover of Rs 25,000
- The card also offers 4 complimentary Roadside Assistance (RSA) of worth Rs 1,399 in a year through Global Assure. Cardholders can call on Toll-Free number 18005723860 to avail this offer. The plan features include the following:
- Towing of Vehicle on breakdown or accident
- Alternate Battery or Jump Start
- Tyre Change
- Breakdown Support
- Taxi Benefit
- Arrangement of spare keys
- Arrangement of fuel
- Extraction or Removal of vehicle
- Message relay to relatives/colleagues/emergency numbers
- Ambulance Referral
- Penalty Clause, in case the service is not as per the agreement.
Features of IDFC FIRST WOW! Credit Card
- The credit limit is 100% of the fixed deposit amount
- The cash withdrawal limit is 100% of the FD value. For up to 48 days, no interest is charged on cash withdrawals from ATMs.
- Cardholders can increase their credit card limit by opening up to 2 additional Fixed Deposits
- EMI & Balance Transfer Options
- Transactions of above Rs 2,500 can be easily converted into EMIs, instantly
- The card also offers a Balance Transfer facility wherein outstanding credit card balances of other banks can be paid off through this secured credit card
Fees & Charges of IDFC FIRST WOW! Credit Card
| Fee/Charge | Amount |
| Joining Fee | NIL |
| Annual Fee | NIL |
| Add-on Card Fee | NIL |
| Finance Charges | Monthly Rate – 0.75% – 3.65% |
| Annual Rate – 9% – 43.8% p.a. | |
| Overdue Interest (Non-payment of Minimum Amount Due (MAD) by the payment due date) | 3.99% per month (47.88% p.a.) |
| Transaction fees on Cash Advances | Rs 199 |
| Late Payment Charges | 15% of the total outstanding amount (Minimum – Rs 100; Maximum – Rs 1,300) |
| Reward Redemption Fee | Rs 99 per redemption transaction |
| Card Replacement Fee | Rs 100 |
| Cheque/Cash processing fee | NIL |
| Overlimit Charges | NIL |
| Charge Slip Request | NIL |
| Markup Charges on foreign currency transactions | NIL |
| EMI processing fees | 1% of the transaction value (Minimum Rs 99) |
| Rent Pay Transactions fee | 1% of the transaction amount (subject to a minimum of Rs. 249 per transaction) |
Eligibility Criteria of IDFC FIRST WOW! Credit Card
The fixed deposits opened in the name of a single individual can apply for IDFC First WOW Credit Card. This credit card is ideal for those credit profiles like students, travelers, first-time employees, self-employed, homemakers and senior citizens who cannot avail regular or unsecured credit cards due to inadequate income, low or no credit score, etc.
Stated below are the eligibility criteria for availing this secured credit card:
- The applicant should be a minimum age of 18 years
- Applicant should be an Indian resident and have a current and permanent residential address within India
- The minimum deposit amount required to open FD is Rs 20,000
- Applicants must hold an FD account in cumulative, re-investment and auto-renew mode
However, fixed deposit accounts opened by HUFs, partnership firms, society, trust, minors or opened jointly by applicant/s are not eligible for FIRST WOW! Credit Card. Further, this lifetime free credit card is not issued against Tax Saver Fixed Deposits or Flexi-Deposits (Auto-sweep Fixed Deposits).