Lifetime FREE Credit Card with 10X rewards
Most Searched
Top Products
Popular Searches
Bank Accounts
Populer FAQs
Signature is important and it is required to avail various products and services. To upload your signature
1. Go to More
2. Select Customer Service Dashboard
3. Select ‘Savings/Current Accounts’
4. Select ‘Upload Signature’ to upload your signature.
That's easy! Follow these steps to track your service requests:
1. From the home page of the app, tap on "Customer Service" section
2. Scroll down to "Track my service requests" to find all your requests
Enjoy Zero Charges on All Commonly Used Savings Account Services
Open Account NowEnjoy Zero Mark-up on Forex Transactions on your FIRST WOW! Credit Card
Apply NowCredit Card
Summary: Want your first credit card? This guide explains everything you need to know, including eligibility, the benefits of the FIRST WOW! Credit Card, and how to use it responsibly to build a stellar credit score. Start your financial journey today!
Congratulations Ananya! She, a recent graduate, just landed her first job. Excited about her newfound independence, she’s eager to manage her finances effectively. And while debit cards offer a convenient way to access funds, she wants to get her first credit card.
Should she get a credit card?
Credit cards are a great tool for managing finances, but they need to be used wisely, especially for someone new to the concept of credit. Read on to know how Ananya, or anyone else in her shoes, can get their first credit card and use it responsibly.
Why credit cards?
A credit card allows you to make purchases without having the funds immediately available in your bank account, offering more flexibility than a debit card. Here’s why you should consider getting your first credit card –
Let’s say you need a new phone, but don’t have the cash upfront. With a credit card (unlike debit cards, where money is directly withdrawn from your account), you can
This gives you time to save up the money to pay it off in full without any extra charges.
Credit cards come with incentives like reward points, cashback, and offers. You can earn these on everyday purchases, like groceries or petrol, add them up, and redeem them against purchases or vouchers.
Need a new washing machine? With the EMI facility on your card, you can split the cost into smaller monthly payments (instalments) that fit your budget.
Carrying a credit card is safer and easier than carrying a lot of cash. Plus, you get a detailed record of your spending each month, which can help you track your budget.
Your CIBIL score is a three-digit number reflecting your creditworthiness. Using your credit card responsibly and paying your bills on time helps build a good credit history. This can be important when applying for loans in the future, like a car loan or a home loan.
However, if, like Ananya, you are just starting out your journey, you may not have a credit score yet. It becomes a hurdle for obtaining your first credit card. In such cases, secured credit cards come to your rescue and help you build your credit history. They require collateral, often in the form of a Fixed Deposit (FD).
The FIRST WOW! Credit Card is a secured credit card issued by IDFC FIRST Bank. Unlike regular credit cards, it doesn’t require a credit score or income proof for approval. Instead, you need to invest in an FD and get up to 100% of your FD amount as your card’s credit limit.
The application process for getting your first credit card is a breeze. Just follow these steps –
Soon you will have your FIRST WOW! Credit Card, one of the best credit cards in India, is at your fingertips.
To be eligible for the FIRST WOW! Credit Card, you will need to meet the following criteria –
While you don’t need income proof and credit history for this card, the bank may perform some internal checks to determine your eligibility for your first credit card.
The FIRST WOW! Credit Card is a great option as your first credit card because it offers several benefits, including –
Here’s why –
These features on your first credit card make it easy to start building your credit history without any extra costs.
You get –
Since it is a secured card, the FIRST WOW! Credit Card charges lower interest rates. It saves money on interest charges if you carry a balance on your card.
You can convert transactions above ₹2,500 into convenient EMIs. You will also get 5% cashback on purchases, up to ₹1,000 on your first EMI transaction. This is a great way to save money on your first purchase using EMI on credit card facility.
You can leverage these credit card benefits to build your credit score, earn rewards, and enjoy exclusive discounts while making purchases.
While a credit card is a powerful tool, if not handled carefully, it can lead to a debt trap. Here’s how to use it wisely and avoid common pitfalls –
Before you swipe your card, take a deep breath and ask yourself, “Is this a need or a want?” If it’s a want, consider saving up for it instead of swiping your card.
This is the golden rule. Treat your credit card like a debit card, only buying what you can afford to repay each month. While paying the minimum is better than nothing, it keeps you in debt for longer. Aim to pay your entire balance each month, which will prevent interest charges from snowballing quickly.
Download your bank’s app or set up alerts to monitor your spending. This helps you stay on budget and avoid overspending.
Your credit limit is the most the bank will lend you. It's tempting to spend it all, but resist! Experts suggest keeping your balance below 30% of your limit. This keeps your credit score healthy (important for future loans!).
Here’s how to build and maintain a positive credit history with your first credit card –
This comprehensive guide will help Ananya, and anyone else looking for their first credit card, understand the process. With financial discipline and the knowledge, you’ve gained here, you can manage your card responsibility. The FIRST WOW! Credit Card, with its focus on responsible credit building, is a great option as a credit card for salaried individual who just started earning. Apply now to kick
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates.