The IDFC FIRST WOW Credit Card solves a common problem: how do you get a credit card when you have no credit history or income proof? The answer is a fixed deposit. Open an FD of ₹20,000 or more and you get an assured, lifetime free credit card with a limit equal to your FD, while the deposit keeps earning interest. It also charges zero forex markup.
How the FD-backed card works
| Minimum FD | ₹20,000 |
|---|---|
| Credit limit | 100% of the FD amount |
| FD interest | Up to 7.25%, paid for the full tenure |
| Income proof or salary slips | Not required |
| Credit history | Not required (new to credit allowed) |
Good to know: the FD is security for the card. If you do not pay your card bill, the bank can recover dues from the deposit, so treat it like any other credit card and pay on time.
Because the limit equals your deposit, you can choose how much credit you want. A ₹20,000 FD gives a ₹20,000 limit; a bigger FD gives a bigger limit. Many people start small and add to the deposit later, once they are comfortable managing a card.
How the rewards work
| Where you spend | Earn rate | Value (1 point = ₹0.25) |
|---|---|---|
| Eligible online, offline and international spends | 4 Reward Points per ₹200 | About 0.5% |
| Insurance, utility bills, IDFC FASTag, railway | 1 Reward Point per ₹200 | About 0.125% |
| Fuel, EMI transactions, cash withdrawals | No points | – |
You also get 10% bonus points on hotel bookings and 5% bonus points on flight bookings made through the FIRST Rewards Gallery in the IDFC FIRST app. Points are valid for 24 months, and each redemption costs ₹99 + GST.
Building your credit score
The real value of WOW is not the points but the credit history it creates. Use it for a few regular bills, keep your usage well below the limit, and pay the full amount every month. Within a year or so you should have a credit score that qualifies you for unsecured cards with better rewards.
Fees and charges
| Joining fee | Free |
|---|---|
| Annual fee | Free, for life |
| Forex markup | 0% |
| Reward redemption fee | ₹99 + GST per redemption |
Eligibility
| Security | Fixed deposit of ₹20,000 or more with IDFC FIRST Bank |
|---|---|
| Income proof | Not required |
| Credit history | Not required; new to credit allowed |
How to apply
- Tap Apply on IDFC FIRST Bank site on this page to open the official credit card application.
- Enter your details in one session, using the mobile number linked to your Aadhaar for OTP checks.
- Book your fixed deposit of ₹20,000 or more as part of the application.
- Complete video KYC when prompted, ideally from your current address.
- Once the card is issued, set it up in the IDFC FIRST app and make your first transaction to unlock the welcome benefits.
Who should get it, and who shouldn’t
Get it if you are a student, homemaker, freelancer or anyone new to credit who wants a first card, or if you want a free card with no forex markup for travel.
Skip it if you already qualify for a regular credit card and want strong rewards. At around 0.5%, WOW is a credit-building tool, not a rewards card. Also skip it if you cannot spare ₹20,000 to lock away in a deposit for a while.
