IDFC First Bank Credit Card Against FD

Key Features of IDFC FD Credit Cards

The following are some key features of the IDFC FIRST FD backed credit card:

• Credit Limit: For both the FIRST WOW! Credit Card up to 100% of the fixed deposit amount.
• No Income Proof: No previous salary history, IT returns, credit score or salary slips are required.
• Earn Continuous Interest: Your money keeps earning high IDFC FD interest even while you use your funds when needed.
• Zero Forex Markup: Save big on international travel and global online shopping with zero foreign exchange fees on cards like FIRST WOW! and Quantum+ Credit Card.
• Build Your Credit Score: Improve your credit score easily by making your credit card payments on time.

Pros and Cons of IDFC FD Backed Credit Card

The table below highlights some key pros and cons of the IDFC FD backed credit card to help you make an informed decision:

Application Process for IDFC Credit Card Against FD

Applying for an IDFC FD credit card is simple and fully digital. The process varies slightly depending on the card variant:

FIRST WOW! Credit Card

• Open a Fixed Deposit: Start an FD of at least ₹20,000 with IDFC FIRST Bank.
• Apply Online: Visit the official IDFC FIRST Bank website or use the mobile banking app to apply for the card.
• Link FD to the Credit Card: During the application, choose to link your FD as collateral. No income or credit documents are required.
• Card Issuance: Upon successful verification, a physical credit card will be issued and delivered to your address.

FIRST EA₹N Credit Card (Virtual RuPay)

• Start a Fixed Deposit: Begin with a fixed deposit of ₹5,000 or more through the bank's website or app.
• Apply Digitally: Choose the EA₹N Virtual Credit Card option and complete the online application.
• Instant Card Activation: Once your FD is booked and linked, the virtual card is issued instantly for online and UPI transactions.

Closure Process of IDFC Credit Card Against FD

Closing your IDFC FD credit card is a straightforward process. Here's how it works:

• Clear Outstanding Dues: Ensure that all your credit card dues, including outstanding bills, EMIs, or charges, are fully paid. The bank will not process closure requests if any amount is pending.
• Raise Closure Request: You can request to close your credit card through various convenient methods, such as the IDFC FIRST Bank mobile app, the net banking portal, the customer care helpline, or the nearest IDFC FIRST Bank branch.
• FD Lien Removal: Once the FD-backed credit card is closed and all dues are cleared, the bank will remove the lien on your fixed deposit that was linked to the card.
• Access Your Fixed Deposit: After the lien is removed, your fixed deposit becomes fully accessible. You can choose to let the FD run to maturity or withdraw it as per your requirements.

Who Should Consider an IDFC Bank Credit Card Against FD?

The IDFC FD backed credit card is ideal for individuals at different stages of their financial journey. Here's who should consider applying:

• New Credit Starters: Ideal for students and beginners looking to build a CIBIL score from scratch with guaranteed approval.
• Applicants Without Income Proof: Perfect for homemakers, freelancers, and self-employed individuals with no salary slips or ITR.
• Credit Score Repairers: Best choice for individuals looking to fix or rebuild a low credit score after past defaults.
• Frequent International Travellers: Great for travellers looking to save on global shopping with zero forex markup features.