IDFC FIRST Bank has launched an upgraded version of its “FIRST WOW! Credit Card”, which is backed by a fixed deposit (FD) of at least ₹20,000. The card is available to all applicants aged 18 and above. The upgraded card offers several benefits, including zero foreign exchange markup on international transactions, a dual card with Mastercard and RuPay UPI, and rewards on UPI spends. Additionally, cardholders will receive trip protection and other benefits.
One of the key features of the card is that it comes with a physical Mastercard and a UPI-enabled RuPay virtual credit card, both of which are linked to the same account with a unified credit limit and a single consolidated statement. This allows cardholders to use their card for both online and offline transactions, as well as for UPI payments.
As of September 2025, IDFC FIRST Bank had 40 lakh credit cards in force, with an outstanding book of ₹8,638 crore, which accounts for 3% of the bank’s loan book. The bank has seen significant improvement in its credit card business, with the cost-to-income ratio decreasing from 240% in FY22 to 96% in H1 FY26. The bank expects this ratio to further decrease to 75% by FY27 as the business scales up.
The launch of the upgraded “FIRST WOW! Credit Card” is part of IDFC FIRST Bank’s efforts to expand its credit card business and offer more benefits to its customers. With its zero foreign exchange markup and rewards on UPI spends, the card is likely to appeal to customers who frequently travel abroad or make online transactions. The bank’s focus on improving its credit card business is expected to contribute to its overall growth and profitability in the coming years. Overall, the upgraded “FIRST WOW! Credit Card” offers a range of benefits and features that make it an attractive option for customers looking for a convenient and rewarding credit card experience.