IDFC FIRST WOW! Credit Card Review: What Reddit Users Really Think

When I read about the IDFC FIRST WOW! Credit Card, I rolled my eyes. Another "revolutionary" credit card with flashy marketing promises.

But then I did what I always do before forming opinions, I went straight to Reddit to see what real users were saying. What I found was a mixed bag of experiences that tell a much more nuanced story than any bank brochure ever will.

So, here I am with another of my deep downs based on real world usage of this credit card.

The IDFC FIRST WOW! Card at a Glance

Here are the basics: The WOW! card comes in two variants : one lifetime free (Wow Credit Card) and another premium WOW! Black credit card with a Rs. 750 annual fee, requires a fixed deposit as security, and offers zero forex markup on international transactions. It's targeted at first-time credit card users, international spenders, and anyone looking to build their credit history.

What makes this interesting is that despite needing an FD, this isn't your typical "beginner" card. The zero forex markup feature alone puts it in a different league from most entry-level options.

The credit card community's first impression on this card? Mixed reactions that range from genuine enthusiasm about the forex benefits to outright frustration with customer service.

What Actual Credit Card Users Love About This Card?

Zero Forex Markup: The Star Feature

This is where the WOW! card truly shines. One user perfectly captured why this matters: I used this card in the past where i travelled to 4-5 countries in Europe. Never had a problem. I would say i got better exchange rates here. Than ixigo card on the same day at the same place and time. I was curious and made 1 euro transaction on both wow and ixigo card i got charged extra 10 paise on ixigo.

I talked to a friend who had this card and used it on an international trip, and the savings are real. While most cards charge 3.5% forex markup, the WOW! card charges nothing. So, on a $1,000 purchase, you're saving around Rs. 2,900. For someone who regularly shops from international websites or travels abroad, this single feature can justify the card's existence.

FD-Backed Credit Limit Magic

Here's another thing that caught my attention from discussions: IDFC is generous with credit limits. IDFC actually offers up to 100 of your FD amount as your credit limit.

So, if you deposit Rs. 50,000 as FD, you could get a credit limit of Rs. 50,000, which is not the case with other credit card issuers offering FD-backed credit cards.

For someone building credit history, this is significant because it allows for better credit utilization ratios without needing income proof or extensive documentation.

Decent Reward Structure

The card offers 1 reward point per Rs. 200 spent, with special rates for hotel, flights, and travel bookings. While Reddit users aren't exactly thrilled with this rate, some find value in the travel booking benefits, especially when combined with the zero forex markup.

Basically, the reward rate translates to roughly 1.33% return on travel bookings through their app, which isn't spectacular but becomes reasonable when you factor in the forex savings for international travel.

The Problems with IDFC First WOW! Credit Card

Customer Service Nightmare Stories

This is where things get ugly. The most consistent complaint across Reddit discussions is IDFC's customer service. One frustrated user shared: 

"IDFC doesn’t have any international number to call on every time I had to turn on my Indian number and call on Indian toll free number costing me 500 odd rupees as the agent made me wait every time just to come back and say it will work again tomo which it didn’t ."

I've had my own experience with IDFC's support, and I can confirm that the response times are definitely slow. Representatives often lack proper information, and escalation processes feel broken. For a secured card where customers have already deposited their money, this level of service is bad.

CIBIL Reporting Delays

Here's a critical issue for beginners who want to build credit using a card like this: "I am using it from 1.5 months my cibil enquiry says nothing secured or unsecured and still CIBIL score not generated."

Another user under the same thread pointed out that he has been using it for 2 months and 2 bills have been paid, but CIBIL reports show nothing.

However, this pattern is not unusual because it can take up to 6 months for accurate reporting of your credit history by an issuer like IDFC Bank.

But for someone getting their first credit card specifically to build credit history, waiting up to 6 months for CIBIL reporting can be frustrating.

Limited Rewards Compared to Competition

When compared to cards like OneCard or even ICICI Coral, the WOW! card's reward structure feels limited. One Reddit user expressed feeling "catfished" by the extra payment for enabling UPI and confusing rewards structure.

The reality is that if you're not benefiting from the zero forex markup, the card's value proposition becomes questionable. The reward rate alone isn't compelling enough to justify choosing this over alternatives.

Who Should (and Shouldn't) Get This Card?

Perfect Candidates

• International travelers: If you regularly make international purchases or travel abroad, the zero forex markup alone makes this card worthwhile. The savings compound quickly.
• Credit builders: First-time users or those rebuilding credit who have money to park in an FD will find this a viable option, despite the CIBIL reporting delays.
• FD holders: If you're already have an FD at IDFC Bank and want to use that money, this card makes sense.

Skip This Card As

• Reward maximizers: If you're chasing points and cashback, this card will disappoint you. The reward structure is mediocre at best.
• Customer service sensitive: If you need responsive, helpful customer support, IDFC's track record suggests you should look elsewhere.
• High spenders: For significant monthly expenses, there are better alternatives that offer superior rewards and benefits.

Application Process and Approval Reality

Based on Reddit experiences, the application process is relatively straightforward. You'll need to create an FD first, then apply for the card. Most users report approval within 7-10 days, though card delivery can take another week.

For FD amount strategy, depositing Rs. 50,000-75,000 seems to be the sweet spot for getting optimal credit limits. IDFC's official documentation suggests they evaluate each case individually, but Reddit users report fairly consistent credit limit ratios.

Document requirements are minimal since it's FD-backed. PAN, Aadhaar, and basic KYC documents are typically sufficient. From my experience with secured cards, having all documents ready digitally speeds up the process significantly.

Timeline expectations: 2-3 weeks from FD creation to card in hand is realistic. Don't expect the "instant issuance" marketing to mean same-day delivery.

Making the Most of Your WOW Card

If you do get this card, here's how successful Reddit users maximize its benefits: Focus spending on international transactions and travel bookings through their app. Keep domestic spending minimal unless you're working toward the Rs. 1.5 lakh annual spend target for fee waiver.

For CIBIL building, maintain 10-30% utilization and pay bills on time. Despite the initial reporting delay, consistent usage does reflect in credit scores eventually. Set up autopay to avoid any payment delays.

The annual fee waiver on the WOW Black varient requires Rs. 1.5 lakh annual spend, which translates to about Rs. 12,500 monthly. This is achievable if you're using the card for regular expenses, but don't force spending just to waive the fee. Else you can opt for the LTF version.

Frequently Asked Questions from Reddit

Q: How long does CIBIL reporting actually take?A: Based on user experiences, 2-6 months initially, then regular monthly reporting.

Q: Can I get the credit limit increased later?A: Yes, but it requires increasing your FD amount. The process is cumbersome according to Reddit users.

Q: Is the zero forex markup really zero?A: Yes, multiple users confirm no additional charges on international transactions.

Q: How difficult is it to close the card and get FD back?A: Several users report delays and complications. Plan for a 2-3 month process.

Q: Should I upgrade to WOW Black?A: Only if you spend significantly more and can justify the higher fees through increased benefits.

Get the IDFC FIRST WOW! card if you regularly make international transactions and need a secured card option. The zero forex markup feature is genuinely valuable and hard to find in this category.

Skip it if you're looking for great rewards on domestic spending or need reliable customer service. The Reddit consensus is clear, this card serves a specific niche well but falls short as an all-around credit card.