Do you want a no-frills, lifetime free credit card to build credit history without worrying about hidden costs? That’s where the IDFC FIRST WOW Credit Card steps in. Designed as a secured credit card against a fixed deposit (FD), it’s perfect for first-time users, students, homemakers, or anyone who struggles to get approval for a regular credit card. In this IDFC FIRST WOW credit card review, you will discover its benefits, charges, eligibility, pros and cons, and whether it’s the right pick for your wallet.
IDFC FIRST WOW Credit Card Review: Quick Overview
| Feature | Details |
|---|---|
| Card Issuer | IDFC FIRST Bank |
| Annual Fee | ₹0 (Lifetime Free) |
| Welcome Bonus | None |
| Best For | First-time cardholders, students, homemakers, people with no credit score |
| Type | Secured Credit Card (linked to FD) |
Key Benefits of IDFC FIRST WOW Credit Card
Cashback/Rewards
- Unlike most credit cards, the WOW card doesn’t offer cashback or reward points.
- The real “reward” here is building credit history safely. By using it for small expenses and paying on time, users can improve their CIBIL score.
Travel Benefits
- No complimentary lounge access or travel perks.
- However, it can be used globally wherever Mastercard is accepted.
Shopping/Partner Offers
- Since it’s powered by Mastercard, cardholders can enjoy periodic partner discounts on dining, shopping, and online platforms.
- These offers change frequently, so it’s best to check IDFC FIRST Bank’s offers page.
EMI/Big Spend Perks
- Users can convert high-value purchases into EMIs.
- Since it’s FD-backed, approval for EMIs is smoother compared to unsecured cards.
Fees & Charges
- Annual Fee: ₹0 (Lifetime Free, no hidden charges).
- Interest Rate (APR): 9%–42% per annum (depends on repayment behaviour).
- Late Payment Fee: From ₹100 to ₹1,300 depending on bill size.
- Foreign Currency Mark-up: 3.5% of the transaction amount.
- Cash Withdrawal Fee: Nil, but interest charges apply from day one.
Pros & Cons
Pros ✅
- No annual or joining fee.
- Approval guaranteed against FD.
- Perfect for people with no credit score.
- Helps build CIBIL score safely.
- Global acceptance.
- Online EMI conversion.
Cons ❌
- No reward points or cashback.
- No lounge or travel perks.
- Requires a minimum FD (₹5,000+).
- FD is locked till the card is active.
Who Should Apply for the IDFC FIRST WOW Credit Card?
- Best For:
- Students starting their credit journey.
- Homemakers who want financial independence.
- Salaried individuals with low or no CIBIL score.
- People who want a backup credit card without fees.
- Not Ideal For:
- Frequent travellers (no lounge/air miles).
- Heavy online shoppers (no cashback/rewards).
- Fuel spenders (no fuel surcharge waiver).
How to Apply for IDFC FIRST WOW Credit Card
Eligibility Criteria
- Must have an IDFC FIRST Bank account or open one.
- Must create a Fixed Deposit (FD) of at least ₹5,000.
- Minimum age: 18 years.
- Both salaried and self-employed individuals are eligible.
Documents Required
- PAN card.
- Aadhaar card (for KYC).
- Passport-size photo (if applying offline).
Application Process
- Open a Fixed Deposit with IDFC FIRST Bank.
- Visit the nearest branch or apply online.
- Card is issued against the FD within a few days.
FAQs about IDFC FIRST WOW Credit Card
1. Is the IDFC FIRST WOW Credit Card free?
Yes, it’s lifetime free. No annual or joining charges.
2. Do I need a CIBIL score to get this card?
No. Since it’s FD-backed, it’s issued even with no credit history.
3. Can homemakers or students get this card?
Yes, as long as they open an FD, they can apply.
4. What happens if I don’t pay my bill on time?
Late fees and high interest charges will apply, and your FD could be used to recover dues.
5. Can I close my FD anytime?
You’ll need to close the card first before breaking the FD.
IDFC FIRST WOW Credit Card Review: Conclusion
The IDFC FIRST WOW Credit Card isn’t built for cashback lovers or travellers. It’s built for beginners. It solves one big problem: getting a credit card without income proof or a CIBIL history. By keeping it free for life, IDFC FIRST Bank has made it a safe entry point into the world of credit cards.
If you want to start your credit journey, build a strong score, and avoid the headache of hidden fees, this card is a no-brainer. Use it smartly, pay on time, and it can open the door to premium cards in the future.
