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IDFC FIRST WoW Credit Card VS Niyo Global Card by Equitas Bank

A detailed, side-by-side look at 2 leading credit cards. Analyze the features that matter most to you and make an informed choice.

These are the only two genuinely zero-forex-markup cards in this comparison set, and both are lifetime-free, but they serve different profiles. IDFC FIRST Wow! is a secured, FD-backed card with 0% forex markup and assured issuance without income proof - the better choice if you're building credit history or can't clear a regular unsecured card's income bar. Niyo Global, issued via Equitas Small Finance Bank, is built specifically around a digital account and card for international travelers and students, with Nil forex markup and no security deposit requirement. If you need to build credit from scratch, IDFC FIRST Wow!'s FD-backed structure is the more accessible route; if you already qualify for an unsecured card and just want a travel-focused digital-first account, Niyo Global is the more natural fit.

Features

IDFC FIRST WoW Credit Card
IDFC FIRST WoW Credit Card
Niyo Global Card by Equitas Bank
Niyo Global Card by Equitas Bank

Fees & Charges

Joining Fee
Nil
Nil
Renewal Fee
Nil
Nil
Spend Based Waiver
Not Applicable
Foreign Transaction Fees
0% on all international transactions.
Nil on international transactions.
Interest Rate (APR)
Ranges from 8.5% to 46.2% per annum (0.75% – 3.5% per month).
Nil on the card itself.

Rewards & Benefits

Welcome Bonus
100% UPI cashback up to ₹200 and lifestyle benefits worth over ₹5,000 on joining.
Earn 2,500 Niyo Coins (worth ₹250) for every successful referral.
Rewards Rate
4X points per ₹200 on online/offline spends; 1X on utilities, insurance, and railways.
Cashback in Global Coins on domestic spends & referrals; unlocked with international spends.
Reward Type
Reward Points
Cashback
Reward Redemption Fee
₹99 + GST per redemption transaction.

Travel & Lifestyle

Domestic Lounge Access
Not Applicable
Complimentary airport lounge access at international terminals in India.
International Lounge Access
Not Applicable
Travel Benefits
0% forex markup on international spends and 24/7 premium customer support via Visa Infinite.
Zero forex markup on 130+ currencies, complimentary domestic international lounge access, travel deals, ATM locator.
Movie Benefits
50% discount up to ₹300 on movie tickets via BookMyShow (Visa Infinite benefit).
Dining Benefits
Access to over 1500 curated deals and discounts across various dining and lifestyle categories.
Golf Benefits
Not Applicable
Fuel Surcharge Waiver
1% waiver on transactions between ₹200 and ₹5,000 (Max ₹200 per cycle).

Security & Other

Insurance Benefits
Personal Accident Cover (₹2L), Card Liability (₹25K), and Purchase Protection (₹25K).
DICGC insurance cover up to ₹5 Lakhs for funds in the Niyo Global savings account.
Cash Advance Charges
₹199 + GST per transaction with 0% interest for up to 45 days.
3 free domestic ATM withdrawals/month (then ₹21+taxes); ₹110+taxes for international.
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Best valueHigher costHighlights apply to Joining Fee and Renewal Fee only.

IDFC FIRST WoW Credit Card

Niyo Global Card by Equitas Bank

Who is it for?

The First Wow! Credit Card is a premium, FD-backed secured credit card by IDFC FIRST Bank. It is a lifetime-free card offering zero forex markup, interest-free ATM withdrawals for 45 days, and assured issuance without income proof, making it an ideal choice for building credit history while earning interest on savings.

Who is it for?

The Niyo Global Card, in partnership with Equitas Small Finance Bank, is a premier digital savings account and card tailored for frequent international travelers, students, and business professionals. It offers a significant advantage with zero forex markup on international transactions across 130+ currencies, ensuring substantial savings on global payments. Users also benefit from a high-interest digital savings account, earning up to 7% interest per annum, and complimentary lounge access at international terminals in India. This card is an ideal solution for efficient international finance management, combining travel perks with strong savings potential.

Pros

Key benefits and features.

The card is completely lifetime free with zero joining and annual maintenance fees for life.

Enjoy 0% forex markup on international transactions, making it perfect for global spending.

Earn attractive interest on your fixed deposit while using 100% of the value as a credit limit.

Get interest-free cash withdrawals from ATMs worldwide for a period of up to 45 days.

Pros

Key benefits and features.

Enjoy zero forex markup on international transactions, saving significantly on global spends.

Benefit from a high-interest digital savings account offering up to 7% interest p.a.

Access complimentary airport lounges at international terminals within India.

Manage your card easily with a feature-rich mobile app including ATM locator and currency converter.

No joining or annual fees make the Niyo Global Card a cost-effective choice for travelers.

Cons

Key drawbacks and limitations.

The card does not offer any complimentary domestic or international airport lounge access.

Requires a minimum fixed deposit of ₹20,000 which locks up your liquidity and savings.

Every reward redemption transaction attracts a fee of ₹99 plus GST, reducing overall value.

Cons

Key drawbacks and limitations.

The Niyo Global Card does not offer complimentary international lounge access abroad.

Cash advance charges apply for ATM withdrawals, both domestic (after 3 free) and international.

Specific reward earning rates for general spends are not clearly defined for Global Coins.

Tax Collected at Source (TCS) of 20% is applicable on international spends exceeding ₹7 Lakhs.

The virtual card variant is restricted to online domestic transactions only.

How We Compare These Cards

Every comparison on CardsForYou is built from the same verified data set we use across the site - joining and renewal fees, reward rates, forex markup, lounge access, and insurance benefits - sourced directly from each issuer and refreshed regularly. We highlight the lower-cost option on fees automatically, but "best" always depends on your own spending pattern: a card that wins on annual fee may lose on reward rate for a heavy spender, and vice versa. Use the table above alongside your own typical monthly spend to judge real value, not just the headline numbers.

Ready to Choose?

Based on your comparison, select the credit card that best matches your spending habits and financial goals.