IDFC FIRST WOW! Credit Card Review

Welcome to our comprehensive review of the IDFC FIRST WoW Credit Card, an exceptional secured credit card offered by IDFC Bank. This card is packed with a plethora of features and benefits that make it stand out from the crowd. One of the most appealing aspects of this card is that it comes with ZERO joining fees and renewal fees, making it a completely lifetime free card. Additionally, unlike other IDFC FIRST Credit cards, the WoW Card also eliminates foreign markup fees, ensuring that you won’t incur any charges or fees on international transactions.

The rewards program of the IDFC FIRST WoW Credit Card is equally impressive. Cardholders earn 4 reward points on every other spend, and what sets this card apart is that these reward points have no expiry date, offering you the freedom to accumulate and redeem them at your convenience. Whether you wish to redeem them for vouchers, deals, or other exciting options, the possibilities are endless.

The benefits of this card extend beyond rewards. As a cardholder, you’ll receive a 5% cashback as a welcome benefit, and the card also grants a 1% fuel surcharge waiver. In terms of insurance coverage, the IDFC FIRST WoW Credit Card provides personal accident and card liability coverage of up to Rs. 2 lakh, ensuring peace of mind. Moreover, you’ll enjoy the added advantage of complimentary roadside assistance worth Rs. 1,399, available four times a year.

For those who appreciate fine dining experiences and prioritize their well-being, this card offers fantastic dining benefits and discounts at over 3,000 health and wellness outlets. Additionally, the IDFC FIRST WoW Credit Card provides convenient EMI options for transactions above Rs. 2,500, making it easier than ever to manage your finances.

In this article, we delve into a detailed review of the IDFC FIRST WoW Credit Card, exploring its various features, benefits, and how it compares to other credit cards in the market. So, let’s embark on this insightful journey and discover why the IDFC FIRST WoW Credit Card truly lives up to its name.

IDFC FIRST WoW Credit Card Features and Benefits

Discover the exceptional features and benefits offered by the IDFC FIRST WoW Credit Card, designed to enhance your financial experience and provide you with unparalleled advantages. Explore the following key features that set this card apart:

• Welcome Benefit: Enjoy a generous 5% cashback, up to Rs. 1,000, on your first EMI transaction within 90 days of card activation. This cashback applies to direct EMI purchases or transactions converted to EMI, giving you a rewarding start with your new card.
• Dining & Health Benefits: Indulge in delightful culinary experiences with up to a 20% discount at over 1,500 partner restaurants. Simply confirm the IDFC FIRST Bank Card dining discount offer with the restaurant and make the payment using your IDFC FIRST WoW Credit Card to avail this exclusive benefit. Additionally, prioritize your well-being with up to a 15% discount at over 3,000 Health & Wellness outlets.
• Fuel Surcharge Waiver: Say goodbye to fuel surcharges when you refuel your vehicle. The IDFC FIRST WoW Credit Card provides a convenient 1% fuel surcharge waiver at all fuel stations across India. Maximize your savings with a monthly benefit of up to Rs. 200 through this feature.
• Zero Forex Markup Fee: Experience hassle-free international transactions with the IDFC FIRST WoW Credit Card, as it eliminates foreign markup fees entirely. Enjoy the advantage of zero charges or fees on your international purchases, unlike other secured credit cards that typically impose a 3.5% foreign markup fee.
• Insurance Benefits: Gain peace of mind with comprehensive insurance coverage. The IDFC FIRST WoW Credit Card offers a range of insurance benefits, including a Personal Accident cover of Rs. 2,00,000, Card Liability cover of Rs. 25,000, Credit Shield cover of Rs. 25,000, and Purchase Protection of Rs. 25,000. Refer to the IDFC FIRST website for more details on these insurance benefits, and ensure to review the associated terms and conditions.
• Roadside Assistance: Enjoy the convenience and support of 4 complimentary Roadside Assistance services worth Rs. 1,399 across India, provided by Global Assure. This includes a range of assistance such as vehicle towing, alternate battery arrangement, tyre change, breakdown support, taxi benefit, fuel arrangement, and more. Familiarize yourself with the general instructions and conditions for Roadside Assistance, as well as the specific requirements for each feature, available on the bank’s website.
• Easy EMI Options: Experience financial flexibility by instantly converting your transactions above Rs. 2,500 into convenient EMI plans. Whether you make online transactions on the bank’s OTP page or through the IDFC FIRST Mobile Banking App, all eligible transactions can be easily converted to EMIs. Please note that EMI options are not available for jewelry purchases.

IDFC FIRST WoW Credit Card Rewards

Unleash the power of rewards with the IDFC FIRST WoW Credit Card, offering an impressive 4X (4RP) Reward Points on every transaction you make with the card. Discover a world of possibilities with the following details about the rewards program:

• Reward Points: Earn 4X Reward Points on every spend made using the IDFC FIRST WoW Credit Card. Whether you’re shopping, dining, or indulging in other transactions, you’ll accumulate reward points at an accelerated rate, enhancing your overall rewards earning potential.
• Lifetime Validity: The Reward Points you earn with the IDFC FIRST WoW Credit Card hold lifetime validity. This means that your points won’t expire, allowing you to accumulate them over time and redeem them at your convenience.
• Reward Redemption: Utilize your accumulated Reward Points to instantly pay for both online and in-store purchases, making your shopping experiences even more rewarding. Additionally, you have the option to redeem your points for gift vouchers of your choice, providing you with flexibility and a variety of redemption options.
• Reward Conversion: The conversion rate for Reward Points is 1X, which means you earn 1 Reward Point for every Rs. 100 spent on the card. Each Reward Point is valued at Rs. 0.25, offering you tangible value for your spending.
• Reward Redemption Fee: To redeem your Reward Points, a nominal reward redemption fee of Rs. 99 plus applicable taxes applies. This fee allows you to access the benefits of redeeming your points for instant purchases or gift vouchers, further enhancing the value you derive from your rewards.

IDFC FIRST WoW Credit Card Fees & Charges

Experience the advantage of affordable and transparent fees and charges with the IDFC FIRST WoW Credit Card. Here are the details of the fees associated with this card:

• Annual Fee: Enjoy the benefits of a lifetime free card, as IDFC Bank does not impose any Joining or Renewal Fees for the IDFC FIRST WoW Credit Card. This feature ensures that you can maximize the advantages of this card without incurring any additional costs.
• Interest Rate: The IDFC FIRST WoW Credit Card offers a competitive interest rate ranging from 0.75% to 3.5% per month (9% to 42% per annum) on the outstanding amount due on the card. These charges are significantly lower compared to other secured credit cards, providing you with the opportunity to manage your finances more efficiently and minimize interest expenses.
• Cash Advance Fee: For cash withdrawals made using the IDFC FIRST WoW Credit Card at ATMs, a nominal cash advance fee of Rs. 250 is applicable. This fee applies only to cash withdrawals and ensures that you have access to cash when needed, while maintaining the overall affordability of the card.
• Forex Mark-up Fee: Embrace hassle-free international transactions with the IDFC FIRST WoW Credit Card, as it eliminates the Forex Mark-up Fee entirely. This means that you won’t encounter any additional charges or fees on your international purchases, further enhancing the cost-effectiveness and convenience of this card.

IDFC FIRST WoW Credit Card Eligibility Criteria

To be eligible for the IDFC FIRST WoW Credit Card, applicants must meet specific criteria outlined by the bank. The following requirements need to be fulfilled to apply for this credit card:

• Age: Applicants must be 18 years of age or above to be eligible for the IDFC FIRST WoW Credit Card. This ensures that individuals who possess the necessary legal capacity can apply and benefit from the features and advantages offered by the card.
• Residency: The applicant must be a resident of India, with a permanent residential address located within the country. IDFC FIRST Bank maintains a list of cities that are eligible for sourcing. It is essential to fulfill this residency requirement to proceed with the application process.
• Fixed Deposit: As part of the eligibility criteria, the applicant must have a fixed deposit in their name with IDFC FIRST Bank. The fixed deposit amount should be a minimum of Rs. 5,000. This requirement ensures a secure financial backing for the credit card and establishes a strong foundation for the applicant’s creditworthiness.
• Fixed Deposit Type: The fixed deposit held by the applicant should be in the cumulative/re-invest and auto-renewed mode. This ensures that the fixed deposit remains active and continues to serve as collateral for the IDFC FIRST WoW Credit Card.

How to Apply for the IDFC FIRST WoW Credit Card?

Obtaining the IDFC FIRST WoW Credit Card is a straightforward process that can be initiated online through the official website of the bank. Follow these steps to apply for the credit card seamlessly:

• Visit the Official Website: Start by accessing the IDFC FIRST Bank’s official website using a web browser of your choice.
  Navigate to the Credit Card Section: Locate the Credit Card section on the website’s homepage or navigation menu. This section will provide you with information and details about the various credit card options available.
• Select the IDFC FIRST WoW Credit Card: Within the Credit Card section, identify the IDFC FIRST WoW Credit Card among the offerings listed. Click on the specific card to access its dedicated page.
• Express Interest: On the IDFC FIRST WoW Credit Card page, look for the ‘Express Interest’ button. Clicking on this button will direct you to a form where you can enter your relevant details.
• Provide Your Information: Fill out the required fields in the form with accurate and up-to-date information. Ensure that you provide your personal details, contact information, employment details, and any additional information as requested.
• Submit Your Application: Once you have entered all the necessary details, review the form to verify the accuracy of the information provided. After confirming the details, submit your application by clicking the appropriate button.
• Await Application Processing: After submitting your application, the bank will process your request and evaluate your eligibility for the IDFC FIRST WoW Credit Card. You may be contacted for further information or documentation if required.

By following these steps, you can easily apply for the IDFC FIRST WoW Credit Card from the comfort of your own home. Access the bank’s website, locate the specific card, express your interest, provide the necessary information, and await the processing of your application. Begin your journey to enjoy the numerous features and benefits offered by the IDFC FIRST WoW Credit Card.

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FAQs

Are there any charges for international transactions with the IDFC FIRST WoW Credit Card?

No, there is no foreign transaction markup fee for international transactions made with the IDFC FIRST WoW Credit Card. You can enjoy fee-free international purchases.

Are the reward points earned through the IDFC FIRST WoW Credit Card subject to expiration?

No, the reward points obtained with the IDFC FIRST WoW Credit Card do not have an expiration date. They can be accumulated indefinitely and redeemed at your convenience.

What are the insurance covers provided with the IDFC FIRST WoW Credit Card?

The IDFC FIRST WoW Credit Card offers insurance covers including Personal Accident cover of up to Rs. 2 lakh, Card Liability cover of Rs. 25,000, Credit Shield cover of Rs. 25,000, and Purchase Protection cover of Rs. 25,000.

Can I convert my purchases into easy EMIs with the IDFC FIRST WoW Credit Card?

Yes, you can convert transactions above Rs. 2,500 into easy EMIs with the IDFC FIRST WoW Credit Card. This convenient EMI option is available through the bank’s OTP page for online transactions and the IDFC FIRST Mobile Banking App.

Conclusion

The IDFC FIRST WoW Credit Card proves to be a standout option in the realm of secured credit cards. With its host of features and benefits, this card offers a truly rewarding experience for cardholders. The absence of joining and renewal fees, zero foreign transaction markup, and low-interest rates make it a cost-effective choice.

The ability to earn and redeem reward points, coupled with welcome benefits, fuel surcharge waivers, and dining discounts, further enhance the value proposition of this card.

Additionally, the inclusion of insurance covers and roadside assistance adds an extra layer of security and convenience. If you are in search of a secured card that combines these benefits with a fee-free structure, the IDFC FIRST WoW Credit Card stands out as an excellent choice. It empowers individuals to manage their finances effectively while enjoying a wide range of perks and privileges.

Author: Vedanti KiranVedanti is a female finance writer, currently pursuing her studies at Hansraj College. She has a passion for writing and travelling, and her articles on the stock market, finance, investment, and cryptocurrency are well-researched and informative. With her unique perspective on the world of finance, Vedanti is a go-to source for those seeking insights into the world of finance.