IDFC FIRST Bank launches entry-level credit card with zero forex markup and dual UPI-Mastercard access

Key facts

• IDFC FIRST Bank launched the FIRST WOW! Black credit card, the country's first entry-level card with zero forex markup on international spends.
• Customers receive two cards: a physical Mastercard and a virtual RuPay credit card for UPI use.
• The card is available to individuals aged 18 or above by opening a fixed deposit of at least ₹20,000 with the bank.
• Cash withdrawals from ATMs in India or abroad do not attract interest for up to 45 days, but incur a ₹199 withdrawal fee.
• Users earn 4 reward points per ₹150 on everyday spends and 3 reward points per ₹150 on UPI payments above ₹2,000.
• Travel bookings on the IDFC FIRST Bank app earn 50 bonus reward points per ₹150 on hotel bookings and 30 bonus reward points per ₹150 on flight bookings.
• Each reward point is worth ₹0.50 when redeemed for travel on the app.
• The card includes four domestic airport lounge visits a year and trip-cancellation cover of up to ₹10,000.
• Other benefits include 25% off on one movie ticket a month (up to ₹100), a 1% fuel surcharge waiver up to ₹200 a month, roadside assistance worth ₹1,399 once a year, ₹2 lakh personal accident insurance, and lost-card liability cover up to ₹25,000.
• The joining fee is ₹750 plus GST, with the same annual fee from the second year onward.
• The annual fee is waived if yearly spending reaches ₹1.5 lakh.
• Welcome benefits worth more than ₹5,000 include travel deals, dining and lifestyle offers, and 5% cashback up to ₹1,000 on the first EMI transaction within 30 days.