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IDFC First WOW Credit Card Review

IDFC First WOW is a standout premium secured credit card that’s great for anyone looking to build their credit score, enjoying decent rewards all the while. Apart from a minimum ₹5,000 Fixed Deposit with IDFC First Bank, the card issuance requires no income proof, credit score, or documentation, and is approved instantly.

No annual fee, 100% credit limit of the Fixed Deposit (FD) value, 7.5% p.a. interest on the FD, zero forex mark-up fee, 1% fuel surcharge waiver, and 4X rewards are some of the benefits and privileges that come with IDFC First bank WOW credit card.

For students, self-employed, travelers, homemakers, senior citizens, or NRIs, the card offers great flexibility in maximizing the benefits against a fixed deposit. Explore the benefits, fees and charges, privileges, and perks in this IDFC First WOW credit card review.

IDFC First WOW credit card

IDFC First WOW Credit Card Overview

Card TypePremium, Secured (Backed by FD)
Joining Fee₹0
Annual Fee₹0
Welcome Offer5% cashback (up to ₹1000) on the first EMI done within 30 days of card issuance
Best Features– Lifetime free with zero forex mark-up fee and 1% fuel surcharge waiver
– 100% credit limit of the FD amount value
– Lost card liability of cover up to Rs 25,000 and personal accident cover of up to Rs 2 lakh

Details From IDFC First Bank:

  • No documentation is required for sign-up. Get a credit limit of a minimum of 100% of your FD value.
  • Life-time free with premium benefits and rewards on VISA Infinite. Zero joining fee or annual fee.
  • Earn 7.5% interest p.a. on FD and 4X rewards on every spend.
  • Zero forex mark-up fees.
  • Year-round offers with 300+ merchants and 20% discount at 1500+ participating restaurants.
  • 100% cash withdrawal of your FD value while earning uninterrupted interest on the same.
  • Low interest rates starting at 9% p.a. on carry-over balances.
  • Terms and conditions apply.
  • Apply Now Online to grab the welcome offer.

Fees and Charges

Joining Fee


Annual Fee


Finance Charges

0.75% – 3.5% per month (9% – 42% p.a.)

Forex Mark-up Fees


Cash Withdrawal Charges

₹ 199 + applicable taxes per transaction.

Late Payment Fee

15% of the total outstanding amount (Minimum – ₹100; Maximum – ₹1,250).

Rewards Redemption Fee

₹99 per redemption transaction.

Pros and Cons

Lifetime free with Zero forex mark-up fee and fuel surcharge waiver. Low reward rate
Decent privileges with insurance cover, and roadside assistance.
Flexible usage terms

IDFC First WOW Card Benefits

For a secured credit card with no joining or renewal fees, the IDFC First Bank’s WOW offers benefits to rival many entry-level cards.

Lifetime Free

The card has no joining fee or annual fee.

Welcome Bonus

Considering it’s a lifetime free secured credit card, IDFC First Bank is offering a nice welcome bonus. You get 5% cashback (up to ₹1,000) on the first EMI done within 30 days of the card activation. The minimum transaction value for EMI conversion is ₹2,500.

100% Credit Limit

As far as the credit limit on secured credit cards goes, most issuers offer around 80-90% of the FD amount as credit limit. IDFC First WOW card offers a 100% FD-backed credit limit and more in some cases. The bank requires a minimum Fixed Deposit of ₹5,000 for the WOW card.

100% Cash Withdrawal Limit

The card offers a 100% cash withdrawal limit of the FD value without affecting the annual interest rate earned.

7.5% Interest on Fixed Deposit

You earn 7.5% interest per annum on the Fixed Deposit, uninterrupted by cash withdrawals from the card.

EMI & Balance Transfer Options

The cardholders can instantly convert transactions of above Rs 2,500 into EMIs. The bank also offers a balance transfer option on this card to pay off other credit card balances.

Travel & Lounge Access

The zero mark-up fee on forex transactions is a good upside for travelers. However, the card does not offer any lounge access benefits.

Movie & Dining

The card offers a discount of 20% across 1500+ restaurants. And since the IDFC First WOW credit card comes on the VISA Infinite network, you also qualify for a BookMyShow offer.

  • Movie & F&B discount: Get a 50% discount of up to Rs 300 on a minimum booking of 2 movie tickets and up to Rs 200 off on food combos.
  • Non-movie discount- Get 50% off up to Rs 500 on a minimum booking of 2 non-movie tickets.

IDFC First WOW Credit Card Rewards

  • The card offers 1 reward point per Rs 150 spent on Insurance and Utility payments, bringing about a 0.17% reward rate in these two categories.
  • As to retail spending, you get 4 reward points for every Rs 150 spent, a reward rate of 0.67%.
  • The value of 1 reward point is ₹0.25.
  • The reward program is not applicable on fuel purchases, EMI transactions, and cash withdrawals.

Reward Redemption

The reward points never expire and can be redeemed anytime, anywhere online or at stores. You can also redeem the reward points against offers at idfcfirstrewards.poshvine.com.

Perks & Privileges

Fuel Surcharge Waiver: You get a 1% fuel surcharge waiver at all fuel stations in India, up to ₹200 per month.

Roadside assistance: You get complimentary roadside assistance all across India, up to 4 times in a year worth ₹1399 through Global Assure.

Insurance coverage: The card offers card liability cover of up to Rs 25,000, and personal accident cover of up to Rs 2 lakh.

Discount of up to 15% at 3000+ health and wellness outlets.

Read about terms and conditions here on IDFC First WOW card privileges.

IDFC First WOW Eligibility Criteria

The applicant must have a Fixed Deposit(FD) account with the IDFC First Bank in their name to get the IDFC First WOW credit card and should be of age – 18-70 years old.

Should You Apply For IDFC First WOW Credit Card?

You should apply for the IDFC First WOW card if you:

  • are new to credit and want to build your credit score
  • have bad credit and want to improve their credit score
  • want to avoid the foreign transaction fee
  • want to get a fuel surcharge waiver


If you are looking to get an FD-backed card, then IDFC First WOW is undoubtedly one of the best secured credit cards in India right now offering unmatched flexibility and decent rewards to go with it.

More credit cards from IDFC Bank:

IDFC First Bank Power Credit Card

IDFC First Bank Power Plus Credit Card

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