IDFC FIRST WOW! Credit Card

Overview

The IDFC FIRST WOW! Credit Card is a secured credit card backed by a fixed deposit with IDFC FIRST Bank. It carries absolutely no joining fee and no annual fee, making it lifetime free. The card runs on the Visa Infinite platform, giving it global acceptance at millions of merchants and ATMs. Its headline benefit is 0% forex markup on every international transaction, whether you are swiping at a store abroad or buying from an international website in India. Most Indian credit cards charge 3.5% on foreign currency transactions, so the WOW! card saves roughly ₹350 per ₹10,000 spent overseas.Reward points are earned at 4X on online, offline, and international spends, where 1X equals 1 reward point per ₹200 spent. Each reward point is worth ₹0.25, putting the effective return rate at 0.5% on regular spending. Insurance premiums, utility bills, FASTag recharges, and railway tickets earn at the lower 1X rate. Fuel transactions, EMI conversions, and cash withdrawals earn zero points. Points never expire as long as the card is active, and you can redeem them at point-of-sale terminals, online checkouts, or through the FIRSTREWARDS portal. A ₹99 plus GST fee applies per redemption transaction.The fixed deposit backing the card earns 6.3% p.a. interest, so your money continues to grow while serving as collateral. Your credit limit is set at minimum 100% of the FD value, and you can increase it anytime by linking additional FDs through the mobile app. ATM cash withdrawals are interest-free for up to 45 days at both domestic and international ATMs, with a flat ₹199 plus GST fee per withdrawal. The card also bundles ₹2 lakh personal accident insurance, ₹25,000 purchase protection, and ₹25,000 card liability cover.Eligibility is straightforward: Indian citizens aged 18 to 80 with a permanent address can apply by creating a minimum ₹20,000 FD. No income documentation and no existing credit score are needed, which makes it popular with students, homemakers, senior citizens, first-time workers, and NRIs. The entire application is digital with instant card issuance. For users who want more, IDFC FIRST also offers the WOW! Black upgrade at ₹750 plus GST, which adds domestic lounge access, higher reward rates, and travel cancellation cover. The standard WOW! card works best for anyone who prioritises zero forex and wants to build credit history without paying card fees.

Pros

↑0% forex markup saves roughly ₹350 per ₹10,000 spent abroad compared to the 3.5% charged by most Indian credit cards
↑Lifetime free with no joining fee and no annual fee, so you never pay anything just to hold the card
↑No income proof or credit history needed, making it accessible to students, homemakers, senior citizens, and first-time applicants
↑FD earns 6.3% p.a. interest while serving as collateral, so your money keeps growing even as you use the card
↑Interest-free ATM cash withdrawals for up to 45 days at domestic and international ATMs (₹199 + GST per transaction fee)

Cons

↓Reward rate of 0.5% (4 RP per ₹200 = ₹1) is below average, and the ₹99 + GST redemption fee per transaction eats into small reward balances
↓No airport lounge access on the standard WOW! card; you need to upgrade to WOW! Black (₹750 + GST) for domestic lounge visits
↓Credit limit is capped at your FD amount, so a higher spending limit requires locking up a larger deposit
↓No add-on card available since the card is FD-backed, and no fuel surcharge waiver or reward points on fuel transactions

Key Highlights

Welcome Offer
Zero forex markup on all international transactions
0% foreign currency markup on every international spend
Applies to both online and offline transactions
Works for purchases made from India on international websites
Saves roughly ₹350 per ₹10,000 vs the standard 3.5% markup
Valid on the Visa Infinite network worldwide

Reward Rate
4 reward points per ₹200 (₹0.25/point)
4X on online, offline, and international spends
1X on insurance premiums, utility bills, FASTag, railway
1X = 1 RP per ₹200 spent
1 RP = ₹0.25 (0.5% return at 4X)
No points on fuel, EMI, or cash withdrawals
Points never expire
₹99 + GST redemption fee per transaction

Minimum Salary
FD-backed, 18-80 years, no income proof
Indian citizen with permanent address in India
Age: 18 to 80 years
Minimum FD of ₹20,000 with IDFC FIRST Bank
No income proof or credit history required
NRIs eligible with NRE account and ₹25,000 FD
Fully digital application with instant issuance

Joining Fee
No joining fee
No joining fee, no membership fee
Card is free from day one
Lifetime free, not fee-waived

Annual Fee
No annual fee
No annual fee or renewal fee at any time
No minimum spend required to avoid charges
Lifetime free card with zero recurring costs

Why Choose?
Zero forex with FD-backed approval and interest-free ATM withdrawals
0% forex markup (vs 3.5% industry standard)
FD earns 6.3% p.a. while backing the card
Interest-free ATM cash withdrawals for 45 days
₹2L personal accident insurance
₹25K purchase protection
Build credit history with responsible usage
Visa Infinite network globally accepted

Key Benefits

Reward Points

★2.0

▼

4X reward points on online, offline, and international spends
1X on insurance premiums, utility bills, FASTag recharges, railway tickets
1X = 1 reward point per ₹200 spent
1 reward point = ₹0.25
Effective return: 0.5% on regular spends, 0.125% on utility categories
No points on fuel, EMI transactions, or cash withdrawals
Points never expire while card is active
₹99 + GST fee per redemption transaction
Redeem at POS, online checkout, or FIRSTREWARDS portal
Points forfeited for billing cycles where minimum payment is missed

Secured

★4.5

▼

FD-backed credit card, minimum ₹20,000 fixed deposit required
Credit limit is minimum 100% of FD value
FD earns 6.3% p.a. interest while serving as collateral
No income proof or credit history needed for approval
Increase limit instantly by linking additional FDs via mobile app
NRIs eligible with NRE account and minimum ₹25,000 FD
Only singly-held FDs qualify (no joint, HUF, minor, or tax saver FDs)
Build credit score through regular usage and timely payments
Fully digital application with instant card issuance

Student

★4.0

▼

No income proof required, ideal for students without earnings
No credit history needed, perfect for first-time credit card users
Minimum ₹20,000 FD is the only requirement
Age eligibility starts at 18 years
Zero forex markup helps students studying or travelling abroad
Build credit score early through responsible card usage
Lifetime free, so no card fees eating into a student budget
FD continues earning 6.3% p.a. interest

Travel

★4.0

▼

0% forex markup on all international transactions
Works for online and in-store purchases abroad
Also applies to international website purchases made from India
Visa Infinite network accepted at millions of merchants globally
Interest-free ATM cash withdrawals at international ATMs for up to 45 days
₹199 + GST fee per ATM withdrawal (domestic and international)
International helpline: +91 22 6248 5152

Insurance

▼

₹2,00,000 personal accident insurance
₹25,000 purchase protection
₹25,000 card liability cover
Coverage is complimentary with no additional fee

Detailed Information

Joining Fee	No joining fee
Annual Fee	No annual fee
Annual Fee Waiver	Not applicable (lifetime free card)
Monthly Percentage Rate	0.71% to 3.85%
Annual Percentage Rate	8.5% to 46.2%
Minimum Monthly Payment	As per statement (varies by outstanding balance)
Foreign Currency Markup	0%
Late Payment Charges	As per IDFC FIRST Bank schedule (refer MITC)
Overlimit Charges	As per IDFC FIRST Bank schedule (refer MITC)
Cash Advance Fee	₹199 + GST per transaction (interest-free for 45 days)
Balance Transfer Fee	As per prevailing offer terms
Fee For Supplementary Card	Not available (FD-backed card)
Card Replacement Fee	As per IDFC FIRST Bank schedule
Fee For Duplicate Statement	As per IDFC FIRST Bank schedule
Fee For Cheque Bounce	As per IDFC FIRST Bank schedule

Age Requirement Salaried	18-80 years
Age Requirement Self Employed	18-80 years
Minimum Annual Income Salaried	No income requirement (FD-backed, minimum ₹20,000 FD)
Minimum Annual Income Self Employed	No income requirement (FD-backed, minimum ₹20,000 FD)
Minimum Credit Score	No credit score required

Identity Proof	Aadhaar Card (for e-KYC) PAN Card
Address Proof	Aadhaar Card Address verified through e-KYC process
Income Proof Salaried	Not required (FD-backed card)
Income Proof Self Employed	Not required (FD-backed card)

Frequently Asked Questions

It is a secured credit card backed by a fixed deposit with IDFC FIRST Bank. You create an FD of at least ₹20,000, and the bank issues a Visa Infinite credit card with a limit equal to 100% of your deposit. The card is lifetime free, charges 0% forex markup on international transactions, and earns 4X reward points on regular spending. Your FD continues to earn 6.3% p.a. interest while backing the card.

No. There is no joining fee, no membership fee, and no annual fee. The card is lifetime free regardless of how much or how little you spend. The only requirement is maintaining the fixed deposit that backs the card.

The forex markup is 0%. You pay zero currency conversion charges on all international transactions, whether swiping at a store abroad or purchasing from an international website in India. Most Indian credit cards charge 3.5% on foreign currency spends, so this saves roughly ₹350 for every ₹10,000 of international spending.

You earn 4X reward points on online, offline, and international transactions. 1X equals 1 reward point per ₹200 spent, so 4X means 4 points per ₹200. Each point is worth ₹0.25, giving an effective return of 0.5% on regular spending. Insurance premiums, utility bills, FASTag recharges, and railway tickets earn at the lower 1X rate. Points never expire while the card is active. You can redeem them at merchant terminals, through online checkout, or on the FIRSTREWARDS portal. A fee of ₹99 plus GST applies per redemption transaction.

Fuel transactions, EMI conversions, and cash withdrawals earn zero reward points. Insurance premiums, utility bill payments, FASTag recharges, and railway spends earn at the reduced 1X rate instead of 4X. If you miss paying at least the minimum amount due by the payment date, reward points for that billing cycle will not be credited, and any already posted points for that cycle will be reversed.

Indian residents aged 18 to 80 years with a permanent address in India can apply. You need a minimum fixed deposit of ₹20,000 created during the application process. NRIs are also eligible with an NRE Savings Account and a minimum FD of ₹25,000 with IDFC FIRST Bank. The bank reserves the right to approve or decline applications based on its internal policies.

No. You do not need to submit any income proof or have an existing credit history. The fixed deposit serves as security, which is why the bank can approve applicants who would not qualify for regular credit cards. This makes the card accessible to students, homemakers, first-time workers, senior citizens, and self-employed individuals.

Your credit limit is set at minimum 100% of your fixed deposit amount. For example, a ₹50,000 FD gives you at least a ₹50,000 credit limit. You can increase the limit instantly by linking an existing FD or booking a new one through the IDFC FIRST Bank mobile app. The minimum FD is ₹20,000 for Indian residents and ₹25,000 for NRIs, with a maximum of ₹10,00,000 for NRI customers.

Yes. You can withdraw cash up to 100% of your FD value at both domestic and international ATMs. The withdrawal is interest-free for up to 45 days, which is unusual since most credit cards charge interest from the date of cash advance. A flat fee of ₹199 plus GST applies per transaction regardless of the amount withdrawn. International ATM operators may charge their own additional fees.

You can redeem points in three ways. Use them to pay for purchases at point-of-sale terminals or during online checkout directly. Alternatively, visit the FIRSTREWARDS portal at firstrewards.in to browse offers and redeem against products, vouchers, or experiences. A fee of ₹99 plus GST is charged per redemption transaction, so it makes sense to accumulate a meaningful balance before redeeming.

Yes. Open the IDFC FIRST Bank mobile app and link an existing FD or book a new one starting from ₹5,000. The additional FD amount will be added to your credit limit instantly. NRI customers are not eligible for credit limit increases. Only singly-held FDs qualify; joint accounts, HUF, minor, tax saver, and auto-sweep deposits cannot be used.

The card bundles three types of cover at no extra cost: ₹2 lakh personal accident insurance, ₹25,000 purchase protection for goods bought with the card, and ₹25,000 card liability cover for unauthorised transactions. These amounts are modest compared to premium cards, but adequate for a no-fee entry-level product.

No. Since the card is backed by a fixed deposit, the add-on card facility is not available. Each person who wants a WOW! card needs to create their own FD and apply separately. The application is fully digital with instant issuance, so getting a second card for a family member is straightforward.

The annual percentage rate ranges from 8.5% to 46.2% per annum, depending on your profile and repayment history. IDFC FIRST Bank positions this as among the lowest in the industry, with rates starting well below the 36% to 48% range seen on many competing cards. Interest applies when you do not pay the full statement balance by the due date. Cash withdrawals from ATMs are interest-free for up to 45 days, which is a unique feature.

The card runs on the Visa Infinite network, which is typically reserved for premium and super-premium cards. This gives you global acceptance at millions of merchants and ATMs, contactless tap-to-pay capability, and access to Visa Infinite privileges and offers. Despite being an entry-level secured card, the Visa Infinite branding provides wider international acceptance than many competing products in this segment.

Only singly-held fixed deposits with IDFC FIRST Bank qualify. FDs opened by HUFs, partnership firms, societies, trusts, or minors are not eligible. Joint FDs, tax saver FDs, and flexi-deposits (auto-sweep FDs) also cannot be used. The minimum FD amount is ₹20,000 for Indian residents and ₹25,000 for NRIs. A lien is marked on 100% of the FD value, linking it to your credit card limit.

The standard WOW! card is lifetime free, while the WOW! Black charges ₹750 plus GST as joining and annual fee (annual fee waived on ₹1.5 lakh yearly spend). WOW! Black adds domestic airport lounge access (1 per quarter on ₹20,000 monthly spend), bonus 50 reward points on hotel bookings, 30 bonus points on flights, trip cancellation cover up to ₹10,000, and movie discounts. Both cards share zero forex markup. Choose the standard WOW! if you want zero fees, or upgrade to WOW! Black if you value lounge access and travel perks.

The application is fully digital. Register and verify your details on the IDFC FIRST Bank website or mobile app. Create your fixed deposit with a minimum of ₹20,000. Complete your KYC process. Your credit card is issued instantly after approval. The entire process can be completed online without visiting a branch.

Yes. Your FD continues to earn 6.3% p.a. interest even while it serves as collateral for the credit card. You effectively get a credit card for free (no fees) while your deposit grows. The interest is credited as per IDFC FIRST Bank's standard FD terms. This dual benefit of earning FD interest and spending via credit card makes it a practical option for those who want to park money safely while building a credit history.

Call the international helpline at +91 22 6248 5152 for any credit card queries while abroad. This number is reachable 24/7. For domestic queries, use the standard customer care number or the IDFC FIRST Bank mobile app, which lets you block the card, view transactions, and manage settings from anywhere.

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Key Highlights

Key Benefits

Detailed Information

Frequently Asked Questions

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