IDFC FIRST Bank
WOW!
The IDFC FIRST WOW! Credit Card is an entry-level, FD-backed secured credit card designed primarily for individuals who are new to credit or seeking to rebuild their credit profile. Backed by a minimum fixed deposit of Rs.
Direct link to the issuer's website. Terms apply — verify current offer with the bank.
Data last updated 6 June 2026.
At a Glance
Annual Fee
Nil
Joining Fee
Nil
Fee Waiver
N/A
Lounge Access
See details
Forex Markup
0%
Effective Yield
0.5%
Our Take
CreditGully Rating
Based on CreditGully editors' analysis. Not influenced by card issuers.
The IDFC FIRST WOW! Credit Card is an entry-level, FD-backed secured credit card designed primarily for individuals who are new to credit or seeking to rebuild their credit profile. Backed by a minimum fixed deposit of Rs. 20,000, this card is lifetime free, carrying zero joining and annual fees. It provides a structured way to build credit history while earning interest on the underlying fixed deposit at a rate of 6.3% per annum.
Despite being an entry-level card, it offers competitive rewards and travel-centric features. Cardholders earn 4X reward points on online, offline, and international purchases, alongside a highly sought-after 0% foreign exchange markup fee on overseas transactions. Additionally, it provides 1X reward points on utility bill payments, insurance premium payments, FASTag recharges, and railway bookings, which are categories often excluded by other card programs.
This card is best suited for first-time credit card users, people with low credit scores, and budget-conscious international travelers. However, because it lacks premium lifestyle and travel benefits like complimentary airport lounge access and has a lower reward redemption value, it is not ideal for high-spenders looking for luxury perks.
What We Like
We highly appreciate that this card offers a zero foreign exchange markup fee, making international transactions exceptionally affordable for an entry-level card. We also like that it is completely lifetime free with zero annual and joining fees, while still offering 4X reward points on standard spends and enabling credit building through an FD.
Pros
- ✓Completely zero foreign exchange markup fee for international transactions
- ✓Earn 4X reward points on online, offline, and international card purchases
- ✓Absolutely lifetime free card with no annual or joining fees
- ✓Access to exclusive discounts and deals across more than 1,500 retail and dining partners
Cons
- ✗Low reward redemption value where 1 Reward Point is worth only Rs. 0.25
- ✗Does not offer travel-related benefits such as complimentary domestic or international airport lounge access
Get This Card If
- ✓You are looking for a lifetime free credit card with zero joining and annual fees
- ✓You are new to credit, or you prefer an FD-backed credit card
- ✓You shop frequently and are looking for a card that offer reward points on online, offline, and international spends
- ✓You often travel overseas and are seeking a zero-forex markup credit card for your international spends
Earning & Redemption
How You Earn
| Category | Reward rate | Yield % | Cap |
|---|---|---|---|
| Online, Offline & International | 4 Reward Points (RP) per ₹200 | 0.50% | No Upper Cap |
| Utility, Insurance, Railway & FASTag | 1 RP per ₹200 | 0.125% | No Upper Cap |
| Excluded Categories | No Points Earned | 0.0% | — |
Milestone Rewards
| Spend | Benefit | Value | Summary |
|---|---|---|---|
| ₹0 Lakh | Welcome Cashback | 5% Cashback (Up to ₹1,000) | On first EMI transaction within 30 days of card activation. |
Redemption Value
| Channel | Value per point | Verdict |
|---|---|---|
| Pay with Points (Merchant Checkout) | ₹0.25 per point4:1 Ratio | Best Value (No redemption fee at select online merchants) |
| Gift Vouchers / Travel | ₹0.25 per point4:1 Ratio | Convenient (Standard ₹99 + GST redemption fee applies) |
What You Need to Know
2026 Reward Base Shift
Effective Jan 18, 2026, points are awarded per ₹200 spent (previously ₹150).
Impact: Significant devaluation for small transactions; a ₹199 spend now earns 0 points.
No Lounge Access
The standard WOW! card does not offer domestic or international lounge access.
Impact: Requires an upgrade to 'WOW! Black' (which requires a ₹20k monthly spend trigger).
FASTag & Railway Surcharges
1% fee applies on FASTag >₹10k/cycle and Railway spends >₹25k/cycle.
Impact: High usage for travel/logistics will incur costs despite the small reward earn.
FD Liquidity Restriction
The credit limit is 100% of your FD. If you close the FD, the card is cancelled.
Impact: Your funds are locked; however, you continue to earn ~6-7% interest on that FD.
Essential Fine Print
Reward Exclusions
Excluded from Rewards: Fuel, Insurance, EMI transactions, and Cash withdrawals do not earn reward points.
Welcome Offer
5% cashback
Get 5% Cashback up to 1,000 on the transaction value of first EMI done within 30 days of card generation
Additional Features
Zero Forex Markup
Enjoy 0% markup on international transactions in foreign currency.
Interest-Free ATM Cash Withdrawal
Interest-free cash withdrawals for up to 48 days. A flat cash advance fee of ₹199 + GST applies per transaction.
FD Interest
Earn interest on your Fixed Deposit while utilizing the credit limit of up to 100% of the FD value.
No Reward Expiry
Reward points earned never expire and can be used for online/in-store shopping.
UPI-on-RuPay integration
A ₹199 + GST joining/annual fee specifically for the digital RuPay/UPI add-on feature.
Fees & Charges
| Fee Type | Amount / Details |
|---|---|
| Joining Fee | Nil |
| Annual / Renewal Fee | Nil |
| Fee Waiver Threshold | N/A |
| Forex Markup | 0% |
| Reward Redemption Fee | ₹99 per redemption |
| Fuel Surcharge Waiver | 1% surcharge |
Eligibility Criteria
Fixed Deposit Based
Requires a Fixed Deposit with IDFC FIRST Bank (Minimum ₹20,000 with IDFC First Bank)
Age
Applicant must be 18 years to 80 years.
Other
Be an Indian citizen with a permanent address in India
Ready to apply for WOW!?
Annual fee: Nil
Frequently Asked Questions
Annual fee
Nil
0.5% yield