Women Credit Cards: Redefining the Credit Card experience for women

Financial freedom and independence are becoming more of a reality for women in modern-day India. For women, Credit Card usage, earning money and spending power are symbols of financial independence. However, financial independence should also be about being in charge of the financial decisions in life, and participation in financial planning.

In India, 98% of salaried and self-employed women participate in the financial decisions that define the long-term future of their family. 47% of them also make financial decisions independently. They have greater autonomy when it comes to investments, savings and debt management. However, selecting the ideal women's Credit Card is also important for their day-to-day finances.

A wide choice of Credit Cards

While Credit Cards are mostly gender-neutral products, it cannot be denied that some Credit Cards are better suited for women than others. Such cards are often referred to as women's Credit Cards. For instance, getting a credit card is easier for the working and the self-employed woman, but choices are limited for homemakers. A Credit card tailormade for the homemakers can be an example of a woman's Credit Card.

When it comes to Credit Cards for homemakers, the eligibility criteria must be designed to accommodate them. IDFC FIRST Bank offers a Credit Card with no income proof or credit history - the FIRST WOW! Credit Card. And when it comes to working or self-employed women, there are different Credit Card variants available with IDFC FIRST Bank too. Here is a look at some of the best Credit Cards in India, offered by IDFC FIRST Bank.

Why IDFC FIRST Bank Credit Cards?

IDFC FIRST Bank Credit Cards come with several stellar benefits. Features like lifetime reward point validity, complimentary roadside assistance, and zero joining and annual fees are offered across all variants. The Credit Cards also offer low-interest rates on outstanding balances, starting from 0.75% per month only.

Owning and using these women's Credit Cards offered by IDFC FIRST Bank is a fully digital experience. You can tap the card, swipe it, or scan and pay using your virtual Credit Card. You can also manage your women's Credit Card through your smartphone, be it by converting purchases to EMIs or blocking your card.

When it comes to selecting a women's Credit Card, IDFC FIRST Bank caters to the needs of different customers with a wide range of variants. Here are some of the reasons why you may consider choosing the different variants -

FIRST WOW! Credit Card
     

• For the assured approval and no income or credit history requirement
• Zero forex conversion fee
• Utilise your FD for the deposit-backed Credit Card
• Use for UPI transactions and earn 3X reward points

FIRST Millennia Credit Card/FIRST Classic Credit Card
 

• For the joining benefits of ₹500 and 5% cashback
• Interest-free cash withdrawals on domestic and international ATMs
• Convert transactions above ₹2,500 into easy EMIs
• UPI payment compatibility

FIRST Select Credit Card
 

• All year-long offers on top brands
• VISA and MasterCard travel benefits
• Enhanced accident and travel insurance coverage
• Premium lounge accesses and Cancel for Any Reason (CFAR) Insurance

FIRST Wealth Credit Card
 

• Accumulate Karma points over and above reward points to support a cause
• 10X reward points on monthly spends above ₹30,000
• Instant discount on movies, plays and events
• Zero forex markup fee

Women Credit Cards - Addressing the financial needs and preferences of women

Women's Credit Cards address the financial needs and preferences of women, from eligibility criteria to shopping offers.

• Eligibility

Women's credit cards come with different eligibility criteria to cater to women placed at different income levels. Women with no income can get an FD-backed credit card such as the FIRST WOW! Credit Card. Girls with entry-level jobs can go for credit cards with a lower income requirement. The FIRST Classic Credit Card has an annual income eligibility of only ₹3 lacs.

• Rewards

Women's credit cards must be high on reward points and offer convenient redeemability.IDFC FIRST Bank Credit Cards offer up to 10X reward points, which can be instantly used for online or in-store purchases.

• Shopping

Credit cards for women should let you accumulate reward points on one hand while offering jaw-dropping discounts on the other. IDFC FIRST Bank Credit Cards are truly women's credit cards from that perspective. With up to 25% discount on movie tickets, buy-on-get-one movie ticket offers, over 300 merchant offers available all year long, up to 20% discount on over 1500 restaurants and up to 15% discount at over 3000 health and wellness stores, shopping gets better than ever before.

Maximise your women's credit card advantage

Women's credit cards are an effective tool to get the most out of your financial transactions. You can leverage the women-oriented benefits of credit cards and make credit card use a rewarding experience.

• Start by choosing a women's credit card that has little or no cost of ownership. Ensure that the interest rates charged by the credit card are low as well
• Check if the credit card offers interest-free cash withdrawals
• If you are a frequent flyer, check if the forex markup is low or zero. Also, make sure that you get a premium flying experience with complimentary lounge access
• Choose a credit card with a credit limts you are comfortable with
• Use the credit card judiciously so that you don’t end up with late payments and defaults, resulting in late payment fees and interests

Credit cards that elevate your finance

Instead of picking a credit card with standard features, go for a women's credit card that has features designed to address women-specific expectations. IDFC FIRST Bank offers credit card variants that appeal to homemakers, college girls, working women, and self-employed female entrepreneurs. Check out the IDFC FIRST Bank Credit Cards, and take your pick!

Disclaimer

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.