IDFC First WoW vs ICICI Bank Mine Credit Card

Young professionals and those who haven’t used a credit card before in their life can go for lifetime free or secured credit cards that don’t require a credit history or income proof. The IDFC First WoW is one such secured credit card. It is a lifetime free card without any joining or annual fee but you must make a minimum FD of at least Rs. 5000 with the bank to get this card. The reward rate on the card is decent and the points earned by you are valid for lifetime. Apart from this, there are several features and benefits offered by the card and the best thing is that it does not charge a forex markup fee.

When we talk about ICICI Bank, the bank offers the unique Mine credit card where the cardholder can choose a plan based on his credit needs and requirements. The Mine credit card offers three plans to customers. The Starter Plan is free of cost, the Pro Plan charges Rs. 49 per month, and the Premium Plan charges Rs. 149 per month. Every plan has different features and you can get access to a range of cashback, travel, and dining benefits with the card. The card is affordable, yet offers everything that a person can want from an entry-level credit card.

In this article, we will compare the features and benefits, fees and charges, and other information of the ICICI Bank Mine and the IDFC First WoW credit card. Read on to know which is the better option out of the two cards –

IDFC First WoW Credit Card

A lifetime free credit card, the IDFC First WoW does not charge any joining or annual fee from the cardholders. In order to get this card, you must make a minimum FD of Rs. 5000 with the bank. The card has a decent reward rate and the points earned by you never expire. You can redeem the points against a host of different options.

Other features include fuel surcharge waiver, complimentary roadside assistance, welcome benefits, dining, health and wellness benefits, and more. The best part is that the card does not charge any forex markup fee on international transactions. Here is a detailed look at the features and benefits of this card –

Welcome Benefits

Exclusive 5% cashback up to maximum Rs. 1000 on your 1^st EMI transaction with the card made within 90 days of card issuance.

Dining and Health Benefits

The card offers up to 20% off at over 1500 restaurants across the country. Apart from this, you also get a discount of 15% at over 3000 health and wellness outlets in India.

Reward Earning Rate

You get 4 reward points per Rs. 150 spent with the card and the reward points earned for your spends on the card do not expire.

Reward Redemption

The reward points earned by you can be redeemed against in-store or online purchases of your choice, but you have to pay a reward redemption fee of Rs. 99 plus taxes.

Complimentary Roadside Assistance

The card offers 4 complimentary roadside assistance per year, each worth Rs. 1399, in partner ship with Global Assure. You get services like Alternate Battery, Vehicle Towing, Taxi Benefit, Fuel Arrangement, Breakdown Support, etc.

Fuel Surcharge Waiver

1% fuel surcharge waiver at fuel stations across the country, with maximum benefit capped at Rs. 200 every month

Insurance Benefits

The First WoW credit card offers comprehensive insurance benefits to the cardholder –

• Personal accident cover – Rs. 2 Lakhs
• Card liability cover – Rs. 25,000
• Credit shield cover – Rs. 25,000
• Purchase protection cover – Rs. 25,000

Easy EMI

You can easily convert all spends of Rs. 2500 and above into simple and convenient EMIs.

Fees and Charges

• The card is lifetime free without any joining or annual charges
• The card charges an interest rate of 0.75% – 3.5% per month or 9% – 42% per annum.
• The cash advance fee on the card is Rs. 250 per withdrawal
• There is no forex markup fee on the card on international transactions

Apply Now

ICICI Bank Mine Credit Card

The ICICI Bank Mine credit card comes with three plans where the cardholder can choose any one based on his spending habits and credit needs. The three plans on the card are Starter, Pro, and Premium, each offering its own set of rewards and benefits. The cardholder gets access to exclusive travel, dining, and cashback benefits, along with discount offers. Even at a low fee, there are several exciting offerings on the Mine credit card, and you can save up to 5% on all spends made with it. The following are the key features and benefits that the ICICI Bank Mine credit card offers –

Starter Plan – Features and Benefits

There is no monthly membership fee for the Starter plan on the Mine credit card

• Get 1% cashback on retails spends made with the card, and the cashback is capped at Rs. 100 every month
• Exclusive discounts and offers on travel, fashion, food, groceries, etc.
• 1% fuel surcharge waiver at HPCL fuel outlets across the country

Pro Plan – Features and Benefits

• The Pro plan comes at a monthly membership fee of Rs. 99
• 1% regular cashback on your spends and 5% cashback on partner brands like Ola, PVR, Big Basket, Zomato, Gaana, Swiggy, etc. The cashback is capped at Rs. 200 per month
• Monthly membership fee waiver on spending Rs. 10,000 in the last month
• Exclusive discounts and offers on travel, fashion, food, groceries, etc.
• 1% fuel surcharge waiver at HPCL fuel outlets across the country
• 1 complimentary railway lounge access per month
• 7% discount on hotel bookings and 4% discount on flight bookings through Ibibo

Premium Plan – Features and Benefits

• The Premium Plan comes at a monthly fee of Rs. 149
• 1% cashback on all spends and up to 5% cashback on partner merchants, with the maximum limit of Rs. 750 per month
• Complimentary 2-month subscription to EazyDiner Prime
• Monthly membership fee waiver on spending Rs. 20,000 in the last month
• 1% fuel surcharge waiver at HPCL outlets across India
• Exclusive 5% discount on Tata Cliq on spending at least Rs. 1000 with the card. The maximum discount is capped at Rs. 300 per month
• Exclusive discounts and offers on travel, fashion, food, groceries, etc.
• 1 complimentary railway lounge and 1 domestic airport lounge access per month
• 7% discount on hotel bookings and 4% discount on flight bookings through Ibibo

Apply Now

IDFC First WoW vs. ICICI Bank Mine Credit Card – Quick Comparison

The following table features a quick comparison between the IDFC First WoW and the ICICI Bank Mine Credit Card.

Category	IDFC First WoW Credit Card	ICICI Bank Mine Credit Card
Joining/Annual Fees	Nil	Nil for Starter Plan Rs. 99 for Pro Plan Rs. 149 for Premium Plan
Welcome Benefits	5% cashback on first EMI transaction, up to maximum Rs. 1000	NA
Reward Earning	4 RPs per Rs. 150 spent with the card	1% cashback on normal and 5% cashback on partner brand spends
Reward Redemption	RPs can be redeemed in-store or online against various choices, where 1 RP = Rs. 0.25	1 Mine Cash = Rs. 0.5 on redeeming against the Rewards catalog 1 Mine Cash = Rs. 1 on redeeming against card statement balance
Movie and Dining Benefits	Up to 20% off at more than 1500 restaurants	Complimentary 2-month EazyDiner Prime subscription with Premium Plan
Travel Benefits	Complimentary roadside assistance	Complimentary domestic airport and railway lounge access 7% discount on hotel and 4% discount on flight bookings
Renewal Fee Waiver	NA	Pro Plan monthly fee can be waived off on spending Rs. 10,000 in the month Premium Plan monthly fee can be waived off on spending Rs. 20,000 in the month
Forex Markup Fee	Nil	3.5% of the transaction amount

Conclusion

If you are someone who is getting a credit card for the first time, or you do not have a credit history, then the IDFC First WoW secured credit card is a great option for you. It is a lifetime free card without any fees and you can get with a minimum FD of Rs. 5000 with the bank. The card is pakced with features and benefits across several categories along with a decent reward rate.

When we talk about the ICICI Bank Mine credit card, it is another nice choice as it allows the cardholders to choose their plan according to their needs. The Starter plan is free of cost but if you want more out of the card, you can opt for either the Pro or the Premium plan of the credit card. With the paid plans, you get additional cashback, lounge access, as well as offers on flight and hotel bookings.

When we compare these two cards, there is no clear cut better one, as both of them offer many things to the cardholders. The First WoW has a nice benefit that it does not charge a forex markup fee which makes it perfect for people who regularly make foreign currency spends. On the other hand, the ICICI Bank Mine card has different features on its different plans, and you can choose the one that suits you best.

Tell us in the comments section about which card you plan to get out of these two.