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IDFC FIRST Bank
Unlock credit with zero annual charges, 100% FD-backed limits, attractive interest rates, instant approval and cashback. Easy steps and no prior credit needed.
The IDFC FIRST WOW! Credit Card is particularly suited for those who want an easy entry into credit cards or who are rebuilding their credit profile. With this secured card, your spending limit is equal to your fixed deposit with the bank—starting from as little as ₹10,000. There’s no annual or joining fee, and you get an interest-free period of 45 days on cash withdrawals.
Interest rates are competitive, often lower due to the deposit-backed structure. You’re allowed to withdraw cash up to 100% of your credit limit and enjoy up to 4x reward points, 5% cash back on your first EMI, and a host of extra perks including lost card insurance and no foreign currency markup fees.
How to Apply: A Simple Process
- Register through the IDFC FIRST Bank app or website.
- Choose and fund a fixed deposit of at least ₹10,000.
- Complete the KYC process as required.
- Approval is near-instant—and your card arrives ready to use.
Notable Advantages
Applicants with no credit history or a low score can successfully get approved, as the security comes from your deposit. Plus, it reports to credit bureaus, so timely payments help rapidly build your credit score for future financial products.
With zero annual charges, a generous rewards system, and practical extras such as lost card liability insurance, this card is a strong starter or backup for anyone focused on both utility and cost saving.
Downsides to Consider
Since the credit limit is tied directly to your fixed deposit, you won’t have access to your deposit as long as the card is active. That limits liquidity.
Some other credit cards might offer a wider range of exclusive offers, airport lounges, or travel benefits, though at higher cost and stricter approval standards.
Final Verdict
If your main priorities are zero fees, credit building, and a straightforward application, the IDFC FIRST WOW! Credit Card stands out. The value is highest for those who want no rejections or hidden charges, and who can place a short-term deposit. While premium features are limited, the core proposition is strong: easy approval and building your credit profile affordably.
