IDFC FIRST WoW Credit Card – Benefits, Fees & Eligibility

First Wow! Credit Card

The First Wow! Credit Card is a premium, FD-backed secured credit card offered by IDFC FIRST Bank. It is specifically designed as a lifetime-free card that requires no credit history or income proof, making it an ideal choice for students, first jobbers, homemakers, and self-employed individuals. Key highlights of the card include zero forex markup fees, interest-free ATM cash withdrawals for up to 45 days, and the unique ability to earn attractive interest on the underlying fixed deposit while using it to secure a credit limit.

Welcome Benefits

• UPI Cashback Offer: A limited-period offer providing 100% cashback up to ₹200 (distributed as ₹50 each on the first 4 UPI transactions) for the UPI-enabled digital card.
• Lifestyle Benefits: Access to welcome benefits worth over ₹5,000 when considering the premium privileges associated with the card platform.

Fees

• Joining Fee: ₹0 (Lifetime Free).
• Annual Fee: ₹0.
• Forex Markup Fee: 0% on all international transactions.
• Cash Withdrawal Interest: 0% interest on domestic and international ATM withdrawals for up to 45 days.
• Cash Withdrawal Fee: ₹199 + GST per transaction (applicable per withdrawal).
• Interest Rates (APR): Ranges from 8.5% to 46.2% per annum (0.75% - 3.5% per month).
• Rewards Redemption Fee: ₹99 + GST per redemption transaction.
• Fuel Surcharge: 1% waiver on transactions between ₹200 and ₹5,000 (Maximum waiver of ₹200 per statement cycle).
• UPI Digital Card Fee: For the optional linked digital card, a joining fee of ₹199 + GST and an annual fee of ₹199 + GST (from the second year onwards) applies.

Rewards

Reward Points Rate

• Standard Spends: 4X Reward Points on every ₹200 spent on online, offline, and international transactions.
• Special Categories: 1X Reward Point per ₹200 spent on Insurance premium payments, Utility bill payments, FASTag recharges, and Railway spends.
• UPI Spends: Up to 3X Reward Points on all UPI transactions performed via the linked digital card.
• Reward Value: 1 Reward Point = ₹0.25.
• Exclusions: No reward points are earned on Fuel, EMI transactions, and Cash withdrawals.

Movies and Dining

• BookMyShow Discount: 50% discount up to ₹300 on movie ticket bookings (Visa Infinite platform benefit).
• Food and Beverages: Discounts of up to ₹200 on food and beverages at cinema terminals.
• Non-Movie Bookings: 50% discount up to ₹500 on non-movie ticket bookings via BookMyShow.
• Merchant Deals: Access to over 1500 curated deals and discounts across various lifestyle categories.

Insurance Benefits

• Personal Accident Cover: Sum insured of ₹2,00,000.
• Card Liability Cover: Sum insured of ₹25,000.
• Purchase Protection: Sum insured of ₹25,000.

Lifestyle and Travel

• Roadside Assistance: 4 complimentary Roadside Assistance services per year worth ₹1,399. Services include vehicle towing, battery jumpstart, tyre change, breakdown support, taxi benefit, and fuel arrangement.
• Global Acceptance: Seamless acceptance and 24/7 premium customer support via the Visa Infinite network.

Rewards Redemption Guide

• Redemption Value: 1 Reward Point is valued at ₹0.25.
• No Expiry: Reward points are evergreen and do not expire, allowing cardholders to accumulate them indefinitely.
• Usage: Points can be redeemed instantly to pay for online purchases or for in-store shopping.
• Vouchers: Points can be redeemed for various gift vouchers and attractive offers through the dedicated rewards portal.
• Process Fee: Each reward redemption transaction attracts a fee of ₹99 plus applicable taxes.
• Crediting: Reward points are credited upon statement generation. Points are not applicable for a billing cycle if the Minimum Amount Due is not paid by the due date.

Card Eligibility Criteria

Eligibility Rules

• Age Limit: 18 to 80 years.
• Nationality: Indian citizen with a permanent residential address in India.
• Fixed Deposit Requirement:
  • Indian Residents: Minimum Fixed Deposit (FD) of ₹20,000.
  • NRIs: Minimum Fixed Deposit (FD) of ₹25,000.
  • FD Type: Only singly held fixed deposits are eligible. HUF, Partnership firms, trust-owned, minor-owned, joint, Tax Saver, or Auto-sweep (Flexi) deposits are not eligible.
  • FD Mode: Must be in cumulative/re-invest and auto-renewed mode.
• NRI Specifics: Individual NRI customers must have an NRE Savings Account with the bank.
• Credit/Income History: No credit history or income proof is required for application.

Documents Required

• No income proof or extensive financial documentation is required as the card is secured against a fixed deposit.
• Mandatory completion of the KYC (Know Your Customer) process.

Card Review

• Who should apply: This card is perfect for students, first-time job seekers, homemakers, and freelancers who may lack income proof but want to build a credit score. It is also an exceptional choice for international travelers due to the zero forex markup.
• Pros:
  • Completely lifetime free with zero joining or annual fees.
  • Zero Forex markup fees, which is typically a feature of high-end premium cards.
  • Earn 6.3% p.a. interest on the Fixed Deposit while using the credit limit.
  • Interest-free cash withdrawals at ATMs worldwide for up to 45 days.
  • 100% credit limit against the FD value.
  • Reward points never expire.
• Cons:
  • Lacks complimentary domestic or international airport lounge access.
  • Requires a minimum block of ₹20,000 in a fixed deposit, which locks up liquidity.
• Value: The First Wow! Credit Card provides immense value by combining the security of an investment (FD) with high-end features like zero forex and interest-free cash withdrawals, all while maintaining a lifetime-free status.

Important Product Details

• Positive Highlights:
  • Lifetime free status (₹0 Joining and Annual fees).
  • 0% Foreign transaction markup fee.
  • 0% interest on ATM withdrawals for 45 days.
  • Assured issuance without income proof or credit history.
  • Reward points have no expiry.
  • Includes complimentary Roadside Assistance and significant insurance covers.
  • Instant digital card issuance upon completion of the FD and KYC.
• Negative Highlights:
  • No airport lounge access benefits.
  • Reward redemption fee of ₹99 + GST per transaction.
  • Rewards are not earned on fuel, EMI, or cash withdrawal transactions.

Other Details

• Credit Limit: Minimum 100% of the FD value. Customers can instantly increase their limit by linking existing FDs or booking new FDs via the mobile app (starting from ₹5,000).
• NRI Max Limit: For NRI customers, the maximum credit limit is capped at ₹10,00,000.
• UPI Integration: The card can be linked to popular UPI apps (PhonePe, Paytm, GPay, BHIM) via a digital-only card variant.
• Easy EMI: Transactions above ₹2,500 can be converted into EMI plans through the mobile app or OTP page (excluding jewelry purchases).
• International Support: Dedicated international helpline for cardholders traveling abroad: +91 22 6248 5152.
• NRI Bill Payment: NRI cardholders are required to pay bills via auto-pay from their NRE account.
• PIN Generation: PIN can be set or reset via Net Banking, the Mobile Banking App, or by calling Customer Care.
• Application Process: Involves registering details, funding a fixed deposit (min ₹20,000), and completing KYC.