IDFC FIRST Bank has introduced a new credit card called FIRST WOW! Black.
It is an upgraded version of the earlier FIRST WOW! credit card and works against a fixed deposit (FD). This means you can get the card easily even if you are new to credit by creating an FD with the bank.
Fees
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charges a joining fee of ₹750 + GST and an annual fee
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From the second year, the fee becomes free if the credit card holder spend ₹1.5 lakh in a year.
Who can apply?
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Anyone 18 years or older can apply.
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It’s a credit card that can be get by opening a fixed deposit (FD) starting from ₹20,000.
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Entire application is digital, instant, and paperless.
Features of the Credit Card:
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No extra charges when you use this card abroad. — usually banks add a “forex markup” when you use your card abroad, but this card doesn’t. Huge saving for international travellers.
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Two networks in one card i.e a physical Mastercard and a virtual RuPay card that can be used on UPI. Both share the same credit limit and one bill.
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Cash withdrawals without interest until the due date (you only pay a flat ₹199 fee per withdrawal).
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Reward points on regular purchases and eligible UPI payments.
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Extra rewards for booking flights and hotels through the IDFC FIRST Bank app.
Travel and safety benefits:
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4 free domestic airport lounge visits per year
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Free roadside assistance once a year
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Insurance cover:
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Up to ₹2 lakh for personal accidents
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Up to ₹25,000 for lost-card fraud protection
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Trip cancellation cover up to ₹10,000 on selected bookings
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IDFC FIRST Bank has launched this improved FD-backed credit card with strong features. At the same time, its credit card business is getting bigger and is becoming much more efficient and profitable over time. This card is highly valuable even though it’s FD-backed and affordable. This card is designed for people who want premium features—like lounge access, zero forex charges, and good rewards—but prefer or need a secured credit card backed by an FD.