• 0% Foreign Transaction Fee.
• Global Acceptance.
• No Credit History Required.

And much more🤩

IDFC First Wow Credit Card helps you save on every international adventure.✈

Discover how this card keeps your wallet happy and your adventures on track.⤵ • Recently, Govt. announced that credit cards will attract 20% TCS on all foreign transactions above ₹7 lakhs in a year.🤯

» IDFC First WOW Credit Card shields you from paying additional charges and lets you travel hassle-free.😍

How?🤔

IDFC First has over 1.5 Million credit card users, and their Select Card is one of the best lifetime-free credit card.🤩

Here's why it stands out and why you should consider getting one ⤵ 1) Rewards

The IDFC First Select Card offers Reward points that never expire.🤩

• 10X Reward Points on spends above ₹25,000 per month
• 10X points on spends done on your birthday
• 6X points on online purchases
• 3X points on offline purchases
• 1 Reward point = ₹0.25

Market share of MasterCard in India💳

2016 29%
2017 33%
2018 34%
2019 31%
2020 36%
2021 30%

Visa & Mastercard own 90% of India's credit card market.🤯

Have you ever wondered how they make money?

Here's a thread that'll explain it🧵 First things First!

• What does Visa and Mastercard mean?

⏩Visa and Mastercard operate global payment networks that connect financial institutions and merchants worldwide.

⏩Both companies provide payment products and services to help people make transactions with ease.

Credit Cards added by #AxisBank💳

Oct'22 2,61,367
Nov'22 2,07,825
Dec'22 1,49,006
Jan'23 1,42,238
Feb'23 2,00,545
Mar'23 23,41,372

11x growth of Axis Bank Credit Cards after the Citi Deal.🚀

Here are top 5 AxisBank cards that you should get now👇 1. Axis Bank Ace Credit Card

• Joining Fee: ₹499
• Annual Fee: ₹499

• Best For: Cashback💸

What you'll love⤵

• 5% Cashback on Bill Payments.
• 4% on Swiggy, Zomato & Ola.
• 2% on all other spends.
• No Upper Limit on Cashback.

Did you Know?

• Launched in 2018, Amazon Pay ICICI Credit card has more than 3 M users.💳
• It holds 30% of ICICI's entire credit card portfolio🤯

With its innovative features and benefits, it is making a big impact.

Let's dive deeper into what makes the card so popular 👇 1. Its Lifetime Free 🤩

• This implies that the card attracts no annual charges and is an easy-to-use basic card for people who would like to shop from Amazon.

Did you Know?

• Flipkart Axis Bank credit card has more than 3.5 M users.💳
• It holds 38% of Axis Bank's entire credit card business.🤯

A super credit card with many advantages.

Here's a detailed breakdown of its features ⤵ 1. Sign-up benefits

• Flipkart voucher worth ₹500 on the first transaction with credit card.
• 15% cashback up to ₹500 on first transaction on Myntra using Flipkart Axis Bank credit card.
• 50% instant discount up to ₹100 on 1st Swiggy order. Use code - AXISFKNEW

In India, only 4 out of 100 people have credit cards.🤯

In other countries, this number is high📊

🇺🇸 USA 340
🇧🇷 Brazil 132
🇬🇧 UK 92
🇨🇳 China 55
🇮🇳 India 4

Here are 5 reasons why credit card penetration remains low ⤵ 1. Lack of awareness

Many people do not know the benefits of credit cards.

→ Cashback rewards
→ Discounts
→ Protection against fraudulent transactions
→ Rewards points

Banks need to invest in educating the public.

Number of Credit Card Complaints over the years💳

FY15 7472
FY16 8740
FY17 8297
FY18 12647
FY19 13274
FY20 28713
FY21 40721
FY22 32162

Have you ever logged a complaint for your card? 🤔

Let's decode 5 common types of complaints registered ⤵ 1) Charges without prior notice.

Root Cause: Lack of awareness among customers regarding the general terms and conditions of usage of credit cards such as:

• Minimum amount due
• Due date
• Billing cycle
• Total outstanding balance
• Impact on CIBIL score

UPI vs Credit Cards ⚔️

Feb 2017 -
• UPI - 1,900 Cr
• Credit Cards - 28,740 Cr

Feb 2023 -
• UPI - 12.3 Lakh Cr
• Credit Card - 11.9 Lakh Cr

The two payment technologies are duelling for the same space

Here's why credit cards are growing ⤵️ 1/5
It's largely due to reward points 🏆

In recent years, banks and credit card companies have been offering more and more lucrative reward programs to attract customers to use their cards 🤩

According to a survey - 57% of all Indians (around 80.7 crores) have less than ₹5,000 in their savings account or emergency fund 🤯

This is an alarming statistic that highlights the lack of a savings culture in India ⚠️ 2/
One of the reasons for this could be the widespread adoption of digital payments in the country 📲 💳

While digital payments have made transactions easier and more convenient, they have also made it easier for people to spend money without realizing it 💸

Total Cards in India 💳

•Debit Cards 95.0 Cr
•Credit Cards 8.3 Cr

Their Transactions Value 🪙

•Credit Cards 118 Cr
•Debit Cards 49 Cr

(As of Feb 2023)

Let's separate the hype from the facts.

The 7 key differences you need to know ⤵ 1) Paying now vs paying later.

Debit cards: Your purchases are automatically deducted from your checking account. You’re limited by how much you have in there.

Credit cards: Money is borrowed from a bank or financial institution, which must be paid back later.