IDFC First Wow Credit Card: Features, Benefits and Charges

IDFC First Wow credit card is issued by IDFC Bank, Where you can access this credit card by having just a fixed deposit amount with IDFC Bank, and doesn’t require any income or salary proof. Along with that, it is a lifetime free card with no joining or annual fees involved.

With the First WOW Credit Card, users can enjoy various welcome benefits and additional perks. It cuts down the time and effort to wait for credit card approval for people who don’t have any salary proof or required credit score. Here we are going to share the review of the Credit card with its features and benefits.

Offers and Rewards

• It offers the welcome benefit of 5% cashback on your first EMI transaction that’s up to Rs 1,000
• Users get 4x reward points on every spend they make.
• 1% fuel surcharge waiver.
• Reward points don’t have any expiration date.
• Cardholders can use their reward points through the ‘pay with points’ option while shopping online or offline. 
• Provide up to 15% discount over 3,000 health and wellness outlets.
• At more than 1500+ restaurants across India, it provides dining offers of up to 20%.
• Moreover, it also provides cardholders with a complimentary Roadside Assistance program which can be availed 4 times a year. Cardholders can call the toll-free number available 24/7 for assistance which covers.
  • Tyre change
  • Battery Jumpstart
  • Fuel delivery
  • Locked or lost key assistance
  • Towing in case of accident or mechanical failure
  • Ambulance Referral
  • Assistance with lost keys

IDFC First Wow Credit Card Features and Benefits

Some key features and benefits of IDFC Bank are given below:

• To avail this card no sort of documentation is required as it works entirely on the fixed deposit amount with IDFC bank itself.
• The minimum amount of FD required is Rs.10,000 and the Cash withdrawal limit is similar to your FD.
• Cash withdrawal can be done with 100% of your FD value. Users can increase their credit card limit by opening up to  2 additional Fixed deposits.
• Comes with zero forex markup fees
• It’s a lifetime free credit card as no Joining, annual, or membership charges are involved.
• Interest amount of 7.25% on your Fixed Deposit.
• EMI & Balance transfer options in which transactions of 2,500 or above can be converted to EMIs instantly.

Eligibility Criteria to apply for IDFC First Wow Credit card

Let’s discuss who is eligible to apply for the IDFC First Wow Credit Card:

This Card is ideal for those who are self-employed, students, homemakers, and senior citizens as well who cannot go for standard credit card options requiring income information or Credit score, etc.

The following are the eligibility criteria to apply for the IDFC First Wow Credit Card:

• Candidate must be equivalent to 18 years or above.
• Applicants must possess an FD account in their name with IDFC First Bank.
• The amount required to open the FD must be at least Rs 10,000
• Candidate must be an Indian resident having a permanent and current resident address in India itself.

Documents required for IDFC First Wow Credit Card:

Before applying for the IDFC First Wow card you need to first keep these documents handy:

• Aadhar Card
• Voter ID card
• Permanent Account Number (PAN) Card
• Driving Licence

IDFC First Wow Credit Card Fee and Charges

Fees/Charge	Amount
Joining Fees	NIL
Annual Fees	NIL
Transaction fees on Cash Advances	Rs 199
Late Payment charges	15% of the total outstanding amount maximum up to 1,250
Card Replacement Fee	Rs 100
Finance Charges	Annual Rate - 9% - 42% P.A.
	Monthly Rate - 0.75% - 3.5%
Rewards Redemption Fee	Per redemption transaction Rs 99
Rent Pay Transactions Fee	1% of the transaction amount paid (minimum Rs. 249 per transaction)
Forex markup	3.5% of transaction amount
EMI processing fees	1% of the transaction value (Minimum Rs 99)

How to Apply for IDFC First Wow Credit Card

Steps to apply for the IDFC First Wow Credit card:

• Visit IDFC Bank's official website.
• Navigate to the ‘Credit Card’ option.
• It will take you to the page that helps you with different options for Cards with IDFC 
• Fill in your details Name, DOB, Mobile number and OTP sent to your mobile number.
• Click on Terms and Conditions and press agree to T&C.
• Choose the ‘First WOW Credit Card’ button and fill in the rest of the details lastly, click on “Submit”.

Conclusion: 

To sum up the article here are some of the features and benefits offered by IDFC First Wow Credit Card. However, there are plenty of options available online that counter the specific needs of cardholders. Check out the SBI Vistara Credit Card review where we have shared a detailed analysis of exclusive privileges to help make better decisions.

FAQ’s

1. Can we apply for an IDFC First Wow Credit Card through Joint FD?

No, Fixed Deposit accounts opened jointly by applicants, partnership firms, trusts, and minors are not eligible for FIRST WOW Credit Card.

2. What are the charges for Cash Withdrawal from IDFC First Wow Credit Card?

Charges of Rs 199 are applicable for each Cash withdrawal however if we compare if we compare it with other banks it is quite decent.

3. How to redeem Credit Card reward points?

Directly in Credit Card statement [Reward Redemption Fee = 99/-INR]

Or buy gift cards at https://idfcfirstrewards.poshvine.com/