FIRST WOW! Black Credit Card offers zero forex markup, lounge access & travel rewards – Should you apply?

Core Insights - IDFC FIRST Bank has launched the FIRST WOW! Black Credit Card, designed to enhance travel experiences with various benefits and features tailored for customers' travel preferences [1] Rewards Structure - The card offers a rewards structure where cardholders earn: - 4 reward points for every Rs. 150 spent online, offline, and internationally - 1 reward point for every Rs. 150 spent on utility bill payments and insurance premiums - 3 reward points for every Rs. 150 spent on UPI transactions above Rs. 2,000 - 1 reward point for every Rs. 150 spent on UPI transactions up to Rs. 2,000 [6] Benefits - Joining benefits include: - A voucher for Rs. 500 discount on the first flight booking through the IDFC FIRST Bank Mobile App with a minimum spend of Rs. 5,000 - Up to Rs. 1,600 instant discounts on flights, hotels, and bus bookings on MakeMyTrip - Complimentary 3-month EazyDiner Prime Membership worth Rs. 1,095 - A flat 10% instant discount on the Mokobara website - Complimentary one-year Lenskart Gold Max Membership worth Rs. 800 - 5% cashback up to Rs. 1,000 on the first EMI transaction [7] Insurance and Waivers - The card provides trip cancellation cover insurance for flight/hotel cancellations booked with the card, covering up to Rs. 10,000 [5] - A fuel surcharge waiver of 1% on transactions between Rs. 200 and Rs. 5,000, with a maximum waiver of Rs. 200 per statement cycle [8] Eligibility and Fees - Eligibility criteria include being an Indian resident aged between 18 to 80 years, with a fixed deposit of at least Rs. 20,000 required to apply [15] - The joining and annual renewal fee is Rs. 750 plus taxes, with joining benefits valued at Rs. 5,000 [16] Redemption of Reward Points - Cardholders can redeem reward points for travel bookings through the 'Travel & Shop' portal, with a redemption value of Rs. 0.50 per point [11] - The maximum redemption is capped at 1,00,000 points per calendar month and 2,00,000 points per calendar year [14] Target Audience - The FIRST WOW! Black Credit Card is suitable for individuals without a credit score, such as students, homemakers, and senior citizens, as it can be secured against a fixed deposit [18] - It also offers significant value for those with good credit scores and stable income, providing various travel-related benefits [19]