IDFC FIRST WoW Credit Card: Check Features, Benefit & Apply Online

The IDFC FIRST WoW Credit Card, launched in 2020 by IDFC FIRST Bank, is a premier secured credit card designed to offer a range of benefits while being backed by a Fixed Deposit. As a product of IDFC FIRST Bank’s commitment to providing exceptional value to its customers, this credit card stands out with its remarkable features, including zero joining and annual renewal fees. 

By requiring a minimum Fixed Deposit of just ₹10,000, the WoW Credit Card provides cardholders with a plethora of rewards and privileges, making it an attractive option for those seeking a cost-effective and high-reward credit card solution.

The IDFC FIRST WoW Credit Card offers 4 Reward Points per ₹150 spent, 0% foreign transaction fees, and benefits such as 50% off on BookMyShow movie tickets and a 1% fuel surcharge waiver. With no annual fees and rewarding features, it’s an excellent choice for those looking for high-value benefits from a secured credit card.

Feed and Charges

Fee Type	Amount
Joining Fee	₹0
Renewal Fee	₹0
Interest Rate on Purchases	0.75% per month (9% per annum)
Cash Advance Fee	₹199 per transaction
Cash Withdrawal Interest	0% (No interest charges)
Reward Redemption Fee	₹99 + taxes
Late Payment Fee	₹100 to ₹1,000 (based on outstanding amount)
Overlimit Fee	₹500

Reward and Benefits

Benefit	Details
4X Reward Points	Earn 4 Reward Points per ₹150 spent on eligible purchases.
Fuel Surcharge Waiver	1% waiver on fuel transactions, up to ₹200 per month.
Movie Discounts	50% off up to ₹300 on BookMyShow bookings.
Easy EMI Options	Convert purchases above ₹2,500 into EMIs.
Personal Accident Cover	₹2,00,000
Card Liability Cover	₹25,000
Purchase Protection	₹25,000
Roadside Assistance	4 complimentary services per year worth ₹1,399.
Domestic Lounge Access	Nil
International Lounge Access	Nil
Golf	Nil

Product Details

• Enjoy a lifetime-free credit card with no hidden costs.
• Requires a minimum fixed deposit of ₹10,000 with IDFC FIRST Bank.
• Earn 4 Reward Points per ₹150 spent on eligible transactions.
• Reward Points do not expire, allowing flexible redemption.
• Pay no extra charges on international transactions.
• 1% waiver on fuel transactions, up to ₹200 per month.
• Get 50% off up to ₹300 on movie tickets booked through BookMyShow.
• Includes personal accident cover of ₹2,00,000, card liability cover of ₹25,000, and purchase protection of ₹25,000.

IDFC FIRST WoW Credit Card Advantages and Disadvantages

Advantages:

1. No Joining or Renewal Fees: Enjoy a lifetime-free credit card with no hidden costs.
2. Zero Forex Markup Fee: Save on international transactions with no foreign transaction fees.
3. Generous Rewards Program: Earn 4 Reward Points per ₹150 spent, with points that never expire.
4. Fuel Surcharge Waiver: Get a 1% waiver on fuel transactions, up to ₹200 per month.
5. Movie Discounts: Avail 50% off up to ₹300 on movie tickets booked through BookMyShow.
6. Comprehensive Insurance Coverage: Includes personal accident cover, card liability cover, and purchase protection.
7. Easy EMI Options: Convert purchases above ₹2,500 into easy EMIs.

Disadvantages:

1. Requires Fixed Deposit: Needs a minimum fixed deposit of ₹10,000 with IDFC FIRST Bank.
2. No Welcome Benefits: Do not offer initial perks or bonuses upon card issuance.
3. No Lounge Access: This does not provide access to domestic or international airport lounges.
4. No Travel Benefits: Lacks travel-related perks like free flight tickets or hotel discounts.

IDFC FIRST WoW Credit Card: Features and Benefits

1. Zero Foreign Transaction Markup Fee
   • Enjoy zero Forex markup fee on international transactions. Save approximately 3.5% on every international purchase compared to standard credit cards.
2. Reward Points Program
   • Earn 4 Reward Points per ₹150 spent on eligible purchases.
   • For every ₹1,000 spent, you earn about 27 Reward Points. Reward Points are lifetime valid, offering flexible redemption.
3. Fuel Surcharge Waiver
   • Get a 1% fuel surcharge waiver on fuel transactions across India.
   • Save up to ₹200 per month on fuel transactions, translating to ₹2,400 annually.
4. Movie Discounts
   • Avail 50% off up to ₹300 on movie ticket bookings via BookMyShow.
   • Save up to ₹3,600 annually if you book movies every month.
5. Easy EMI Options
   • Convert transactions of ₹2,500 or more into easy EMIs.
   • EMI options can help manage large expenses without upfront payments, making high-value purchases more affordable.
6. Comprehensive Insurance Coverage
   • Includes Personal Accident Cover of ₹2,00,000, Card Liability Cover of ₹25,000, and Purchase Protection of ₹25,000. Provides extensive protection against accidents, fraud, and purchase damages.
7. Roadside Assistance
   • Enjoy 4 complimentary Roadside Assistance services worth ₹1,399 annually.
   • Includes services like towing, battery replacement, and tyre change. This benefit alone provides significant value during emergencies.
8. Low Interest Rate
   • The card has a low monthly interest rate of 0.75% (9% per annum).
   • Lower than the industry average, which often ranges between 2.5% to 3.5% per month.

IDFC FIRST WoW Credit Card Reward Offers

• Reward Points Accumulation
  • Earn Rate: Get 4 Reward Points for every ₹150 spent on eligible transactions.
  • Validity: Reward Points have lifetime validity, ensuring they never expire.
• 50% Off on Movie Tickets
  • Get 50% off up to ₹300 on movie ticket bookings through BookMyShow.
  • Save up to ₹3,600 annually if you book movies every month.
  • Discounts on food and beverages at BookMyShow (up to ₹200).
• Reward Points on Dining and Shopping
  • Earn 4 Reward Points per ₹150 spent at restaurants and retail stores.
  • Spend ₹5,000 on dining to earn 133 Reward Points.
• Reward Points for Cashback
  • Redeem Reward Points for cashback towards future purchases.
  • Convert 1,000 Reward Points to ₹250 cashback for your next purchase.

Reward Redemption Options

• Redemption Value: 1 Reward Point equals ₹0.25.
• Flexibility: Redeem points for a wide range of options including:
  • Online Shopping: Use points to directly pay for purchases online.
  • Gift Vouchers: Exchange points for vouchers from leading brands.
  • Travel Bookings: Offset travel expenses by redeeming points for flights and hotels.
  • Bill Payments: Apply points towards utility bill payments.

IDFC FIRST WoW Credit Card Fees and Charges

1. Interest Rate on Purchases
   • 0.75% per month (9% per annum). One of the lowest interest rates available for credit card purchases, helping to keep finance charges minimal.
2. Cash Advance Fee
   • ₹199 per transaction fee is applicable for cash withdrawals using the card. Note that there are no additional interest charges on cash advances.
3. Cash Advance Interest
   • No interest charges
4. Reward Redemption Fee
   • A nominal fee of ₹99 + taxes is applied for redeeming Reward Points for online or in-store purchases, gift vouchers, or bill payments.
5. Late Payment Fee
   • ₹100 for outstanding balances up to ₹500
   • ₹400 for outstanding balances between ₹501 and ₹1,000
   • ₹600 for outstanding balances between ₹1,001 and ₹10,000
   • ₹1,000 for outstanding balances over ₹10,000
6. Overlimit Fee
   • ₹500 charged if you exceed your credit limit. Ensuring you stay within your limit helps avoid this fee.
7. Foreign Transaction Fee
   • No additional charges for international transactions, making it a great option for overseas spending.
8. Duplicate Statement Fee
   • ₹100 per request. Charged for requesting a duplicate credit card statement.
9. Replacement Card Fee
   • ₹100 Fee applicable for issuing a replacement card due to loss or theft.
10. Balance Transfer Fee
    • 0% (Offer-based)

Insurance Benefits Available on the IDFC FIRST WoW Credit Card

The IDFC FIRST WoW Credit Card offers comprehensive insurance coverage that provides financial protection and peace of mind. Here’s a detailed look at the insurance benefits available with the card:

1. Personal Accident Insurance
   • Coverage Amount: ₹2,00,000
   • Provides coverage in case of accidental death or permanent disability resulting from an accident. This benefit ensures financial support for you and your family during unforeseen events.
2. Card Liability Insurance
   • Coverage Amount: ₹25,000
   • Protects you against unauthorised transactions made with your card in case of loss or theft. It covers fraudulent charges incurred after reporting the loss to the bank.
3. Credit Shield Insurance
   • Coverage Amount: ₹25,000
   • Offers protection against outstanding credit card balances in case of accidental death or permanent disability. This cover helps in settling your card dues during critical times.
4. Purchase Protection Insurance
   • Coverage Amount: ₹25,000
   • Covers the loss or damage of items purchased using the IDFC FIRST WoW Credit Card. It includes theft, fire, or accidental damage to eligible purchases.
5. Roadside Assistance Insurance
   • Coverage Amount: ₹1,399 annually
6. Provides access to 4 complimentary roadside assistance services, including:
   • Towing Services: Assistance with vehicle towing in case of breakdown.
   • Battery Replacement: Replacement of a dead battery.
   • Tyre Change: Help with changing a flat tyre.
   • Breakdown Support: General roadside support for vehicle issues.
   • Taxi Benefit: Arrangement of a taxi during roadside emergencies.
   • Fuel Assistance: Delivery of emergency fuel.

Why Choose the IDFC FIRST WoW Credit Card?

1. Access to Visa Infinite Benefits
   • As a Visa Infinite card, it offers additional Visa Infinite Privileges, including access to exclusive offers on travel, dining, and lifestyle experiences.
   • Visa Infinite members have access to over 100 exclusive offers worldwide.
2. No Limit on Earned Rewards Points
   • There’s no cap on how many Reward Points you can earn, allowing you to accumulate points without worrying about hitting a maximum limit.
   • 4 Reward Points per ₹150 spent with unlimited potential.
3. Built-In Fixed Deposit Benefits
   • The fixed deposit required for the card not only secures the credit card but also earns interest, which is a unique way to make your money work for you.
   • Fixed Deposit rates with IDFC FIRST Bank can be as high as 6.00% p.a. for a tenure of 1 year.
4. Complimentary Roadside Assistance
   • The card offers ₹1,399 worth of Roadside Assistance services, including emergency fuel delivery, tyre changes, and more.
   • Access 4 complimentary Roadside Assistance services per year.
5. EMI Option for Non-EMI Transactions
   • While many cards limit EMI options to specific categories, with the IDFC FIRST WoW Credit Card, you can convert any eligible transaction above ₹2,500 into EMI, offering flexible payment options.
   • Convert transactions over ₹2,500 into easy EMI plans.

IDFC FIRST WoW Credit Card: Terms and Conditions

• Reward Points for EMI Transactions: Reward Points are not awarded on EMI transactions or transactions made using the EMI facility.
• Fuel Surcharge Waiver Exclusions: Fuel surcharge waiver is not applicable on transactions made at fuel stations operated by public sector undertakings.
• Roadside Assistance Service Limitations: Complimentary Roadside Assistance services are subject to geographical limitations and service provider availability. Roadside Assistance may not be available in all locations or at all times, depending on the service provider’s reach.
• Fixed Deposit Term Requirements: The fixed deposit must be in auto-renewal mode and cannot be prematurely withdrawn without card cancellation.
• EMI Availability Exclusions: EMI options are not available for jewellery purchases or any transactions at certain merchant categories.
• Reward Points Validity Conditions: Points may be forfeited if the card account is closed or if there is a breach of the card’s terms and conditions.

Who Can Apply for the IDFC FIRST WoW Credit Card?

The IDFC FIRST WoW Credit Card is designed to cater to a specific demographic due to its unique requirements and benefits. Here’s a detailed overview of who can apply:

• Age Requirement
  • Minimum Age: Applicants must be at least 18 years old.
• Residency
  • Applicants must be Indian residents with a valid residential address in India.
• Fixed Deposit Requirement
  • A minimum fixed deposit of ₹10,000 with IDFC FIRST Bank is mandatory to secure the credit limit for the card.
• Credit Evaluation
  • IDFC FIRST Bank will conduct a credit evaluation to determine eligibility based on the applicant’s credit history and financial standing.

Documentation Needed for IDFC FIRST WoW Credit Card

Proof of Identity

• Aadhaar Card
• Passport
• Voter ID
• Driving License
• Requirement: Must be a government-issued photo ID.

Proof of Address

• Aadhaar Card (if the address is current)
• Utility Bill (Electricity, Water, Gas)
• Bank Statement (with the current address)
• Rental Agreement (with landlord’s signature)
• Passport (if the address is current)
• Requirement: There must be a recent document (within 3 months) showing your current residential address.

Proof of Income

• Salary Slip (latest 3 months’ payslips)
• Bank Statement (last 6 months’ bank statements showing salary credits)
• Income Tax Return (ITR) (for self-employed or freelancers)
• Form 16 (if applicable)
• Requirement: Must show proof of regular income to ensure you can meet credit card obligations.

Fixed Deposit Document

• Fixed Deposit Receipt (with IDFC FIRST Bank for at least ₹10,000)
• Fixed Deposit Account Statement

Application Process for IDFC FIRST WoW Credit Card

• Visit the IDFC FIRST Bank Website: Go to their credit card page.
• Click on “Apply Now”: Select the button for the IDFC FIRST WoW Credit Card.
• Fill Out the Form: Enter your personal and fixed deposit details.
• Submit Your Application: Review and submit your form online.
• Verification Process: Await approval and potential follow-up.
• Receive Your Card: Once approved, your card will be delivered to your address.

FAQs