Best Lifetime Free Credit Cards – Zero Annual Fee Cards in India
Lifetime free credit cards are cards that come with no annual or joining fee. They may be best suited for students, or young professionals, who want to avoid paying hefty credit fees and charges. In this blog, we will do a comprehensive analysis of the 8 best lifetime free credit cards in 2023 and give you detailed insights into each.
8 Best Lifetime Free Credit Cards in 2023 in India
| Lifetime Free Credit Card | Best Suited For |
| IDFC FIRST Select Credit Card | Rewards and shopping |
| Amazon Pay ICICI Bank Credit Card | Co-branded benefits |
| RBL Insignia Preferred Banking Credit Card | Premium privileges |
| HSBC Visa Platinum Credit Card | Rewards, cashback, and lounge access |
| Bank of Baroda Prime Credit Card | Cashback |
| ICICI Bank Platinum Chip Credit Card | Shopping |
| Dhanlaxmi Bank Platinum Credit Card | Special privileges and cashback |
| Axis Bank MY ZONE Credit Card | Online shopping, movies, and food delivery |
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Detailed Overview of Best Lifetime Free Credit Cards 2023
Here are the details of the lifetime free credit cards available in India:
1. IDFC FIRST Select Credit Card
With the IDFC FIRST Select Credit Card, you can enjoy travel perks, superior rewards and round-the-year offers. As a lifetime free credit card, you do not have to pay annual fees for owning IDFC FIRST Select Credit Card. It also offers interest-free ATM cash withdrawals from for up to 48 days.
| Pros | Cons |
| • 10X rewards on birthday • Up to 6X rewards on online purchases, subject to conditions • Low interest rate, starting at just 9% p.a. • Unlimited reward points that never expire | • Value of 1 Reward Point is just ₹0.25 • Reward points not available on insurance payments, fuel transactions, EMI payments, and cash withdrawals |
Key Benefits
- A ₹500 welcome voucher on spending ₹15,000 and above within 90 days of card generation
- 5% cashback with a maximum limit of ₹1,000 on the purchase value for the first EMI repayment done within 30 days of card generation
- ‘Buy one, Get one’ offer on movie tickets up to ₹250 booked via the Paytm app twice a month
- Discounts on airport and fast-track immigration service at over 450 destinations across the world
- 4 Domestic Airport Lounge visits each quarter
2. Amazon Pay ICICI Bank Credit Card
The Amazon Pay ICICI Credit Card brings to the table exclusive payback offers for cardholders. Moreover, there is no expiry date for the rewards you can earn with this card. There is also no joining or annual fee for the Amazon Pay ICICI Credit Card.
| Pros | Cons |
| • Unlimited rewards points that never expire • Up to 3% cashback on more than over 10 Crore products on Amazon India website and up to 2% cashback at over 100 Amazon Pay partner merchants • No-cost EMI of up to 3 and 6 months available on Amazon India website | • Value of 1 Reward Point is just ₹1 • Invite-only credit card • Maximum discount on shopping is available only to Amazon Prime members |
Key Benefits
- No end limit or expiry date for rewards that you earn using this card
- 5% cashback for shopping on the e-commerce website or the Amazon app for Amazon Prime users
- 1% cashback on all other payments
- No annual fee or joining fee
- You can use the rewards to make purchases across a selection of 10 crore products from Amazon.in website or app.
3. RBL Bank Insignia Preferred Banking Credit Card
The sleek and classy RBL Insignia Preferred Banking Credit Card offers various curated rewards and luxurious holidays. Cardholders can enjoy golfing retreats, curated shopping experiences, and other customised services.
| Pros | Cons |
| • 6 complimentary lounge visits in a calendar year with Priority Pass • 10 reward points on every ₹100 spent internationally • 1% fuel surcharge waiver on all transactions between ₹500 and ₹4,000 • Exclusive dining experience | • Fuel surcharge waiver capped at ₹250 per month • Golf concierge available free of cost only for owners of Insignia MasterCard • Milestone benefits available on in the anniversary month |
Key Benefits
- Enjoy 700+ airport complimentary lounge accesses in leading airports across India and abroad
- Curated rewards and benefits
- You can connect with their concierge via a single phone call to receive assistance with your bookings
- You can also enjoy golfing privileges with this credit card
- Get priority reservations in world-class restaurants and enjoy curated dining experiences
4. HSBC Visa Platinum Credit Card
This credit card offers exclusive rewards and privileges to card owners. New cardholders can also enjoy welcome privileges on a minimum transaction of ₹2,500 within 30 days of card issuance. They can also enjoy 10% cashback within the first 30 days on any transaction made with the credit card, capped at ₹2,000.
| Pros | Cons |
| • 3 complimentary airport lounge access or 3 AirDine meal vouchers • Savings of up to ₹3,000 on fuel surcharge • 5X rewards on purchases made after crossing the minimum spend threshold of ₹40,000 • Amazon and Swiggy vouchers worth ₹250 offered upon joining | • The 3 meal vouchers can only be used in airports in India • 5X accelerated rewards available only in the anniversary year and is capped at ₹15,000 • Processing of your card application may take up to 14 days. Also, it could take you up to 7 working days to receive the card after approval • Currency conversion charge and a transaction fee on ATM usage abroad will apply |
Key Benefits
- Insurance of up to ₹3 Lakh on card fraud or misuse
- 24×7 customer care access, cash advance, and other exclusive benefits
- Annual savings of up to ₹3,000 on fuel
- Conversion of Air Miles on Singapore Airlines, British Airways, and Intermiles
- Up to 10% cashback on joining, subject to conditions. Refer to the bank’s website to know more
5. Bank of Baroda Prime Credit Card
To get this card, you will not have to provide proof of income, provided you have a fixed depost of ₹15,000 or more. Also as a lifetime free credit card, you do not need to pay any annual fees. Therefore, you can keep this card for a longer period.
| Pros | Cons |
| • Cashback on all spends • No fuel surcharge • Multiple options for redemption of rewards • Zero liability on card loss or fraud • Up to 50 days of interest-free credit from the date of purchase | • Waiver on fuel surcharge capped at ₹250 per month • No reward points on fuel purchases • Only 1 reward point for transactions made with certain merchants |
Key Benefits
- No joining or annual charges
- Up to 2 reward points on spending ₹100 with most merchants
- Reward points can be converted to cashback or redeemed to avail of other exciting offers
- Option to convert purchases of more than ₹2,500 into small EMIs with tenures of 6 to 36 months
6. ICICI Bank Platinum Chip Credit Card
Believe it or not, you could get this card by sending just one SMS. Simply type “PLAT” and send it to 5676766. The bank will get in touch with you shortly to share more details about the card and to help you complete the application. It’s a lifetime free card – so no annual or joining fee. Plus, there is no fee on a supplementary card as well.
| Pros | Cons |
| • Built-in contactless technology that enhances your shopping experience • Reward points can be redeemed for a variety of gifts and vouchers • Easy online application | • Minimum age limit for applicant is 23 years • Overdue interest could be as high as 40.8% on an annualised basis |
Key Benefits
- Waiver on fuel surcharge
- Exciting offers and benefits at no cost
- Enjoy better security with the chip technology offered by the bank
7. Dhanlaxmi Bank Platinum Credit Card
This card offers you a “world of privileges”. You can pamper yourself with enhanced shopping benefits, a curated fine dining experience, or experiential travel. You will also have access to an online concierge facility.
| Pros | Cons |
| • Special benefits on categories, such as golfing, travel, shopping, and dining • 5% assured cashback on shopping from departmental stores | • Offered only to self-employed and salaried applicants with a gross annual income of at least ₹6 Lakh • Cash advance charges of ₹400 per transaction |
Key Benefits
- Free insurance cover with each card
- Customer assistance available globally
- Access to a budgeting tool called emPower
- Competitive interest charges on each transaction
8. Axis Bank MY ZONE Credit Card
With this card, you get instant access to amazing discounts on online shopping, food delivery and movies. It also offers increased protection due to its use of PIN and EMV chip technology. You will also get cashback and special perks on Mastercard merchant networks.
| Pros | Cons |
| • Up to 15% discount at partner restaurants • 1% fuel surcharge waiver • Complimentary airport lounge access • SonyLiv Premium annual subscription | • Fuel surcharge waiver applicable only on transactions in India • The bank could take up to 21 days to inform you about their final decision on your credit card application • Lifetime free offer only available on select channels • Swiggy discount available only on transactions of ₹200 and is capped at ₹120 • SonyLive subscription worth ₹999 offered only if you complete your first transaction within 30 days |
Key Benefits
- Option to convert purchases above ₹2,500 into easy monthly installments
- 40% discount on Swiggy orders
- 100% discount on booking a second movie ticket on Paytm Movies, subject to a maximum discount of ₹200 per calendar month
How to Choose the Best Lifetime Free Credit Card?
Choosing the best lifetime free credit card is not easy because it may involve some degree of subjectivity. The suitability of a card depends on the specific needs of the user. However, here are some pointers to help you narrow down your search:
- Consider the actual value you will be getting from a card, based on your pattern of use
- Make sure that the welcome gifts and offers are applicable to you at the time of joining
- Avoid cards with hidden charges and complicated terms and conditions
- Consider the charges on the add-on/supplementary card, if applicable
- Consider fees, such as maintenance fees, if any, foreign transaction charges, and most importantly the cashback or reward point limits on certain transactions
How to Apply for a Lifetime Free Credit Card?
Follow these steps to apply for a free credit card online:
- Step 1: Visit the official website of the financial institution/credit card company and navigate to the credit card application section.
- Step 2: Click on the list of credit cards offered and choose a ‘no-fee’ or ‘zero-fee’ credit card. Go through the eligibility criteria carefully before proceeding.
- Step 3: Click on the ‘Apply’ button to get the application form.
- Step 4: Fill up the application form with the requisite details.
- Step 5: Upload the required documents on the application portal.
- Step 6: Once you have accurately filled up the form and attached the necessary documents, click the ‘Submit’ button.
Features and Benefits of Lifetime Free Credit Cards
- No annual, joining, or renewal fees.
- Most lifetime free credit cards offer cashback and reward points on every transaction.
- The interest charges are generally low.
- You may earn reward points or receive cashback on dining, shopping, and online transactions
- Most such cards offer a fuel surcharge waiver, up to a certain limit.
- You may also get concierge service, curated dining and travel offers, free golfing lessons, and other exclusive privileges
Documents Required for Lifetime Free Credit Card
Here are the documents you will generally require:
- Proof of Income: Bank statements, ITR documents, salary slips, etc.
- Address Proof: Driving license, Aadhaar card, PAN card, electricity bill, etc.
- Identity Proof: Aadhaar card, PAN card, or other government-issued identity documents
- Passport size photographs
Eligibility Criteria for Lifetime Free Credit Card
Here are some common eligibility criteria that some of the best lifetime free credit cards in 2023 might require:
- The applicant’s age has to be between 18 and 60 years.
- He/she needs to be a salaried individual or self-employed.
- The minimum age of a supplementary cardholder is usually 18. However, for some cards, it could be lower.
Lifetime Free Credit Cards Without Income Proof
Obtaining a lifetime free credit card without a verifiable and sustainable source of income may be quite difficult. However, it may not be impossible. Some banks offer lifetime free credit cards even to those without an income. However, the only condition is that you may need to open a fixed deposit account with the bank in question, which will be used to secure your credit card.
Final Word
If you are searching for a credit card with no joining or annual fee, you can opt for a lifetime free credit card. These cards usually offer a wide range of benefits, cashback, rewards, and curated offers. This article has introduced you to 8 top lifetime free credit cards. Now, based on your needs, compare the various lifetime free credit cards in 2023, based on the joining offers, rewards, cashback, and other privileges.
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FAQs
Yes, a lifetime free credit card can be used in foreign countries. However, some banks/financial institutions levy additional charges for overseas banking/foreign transactions. It is advisable to know the foreign banking charges before applying for a zero annual fee card.
No, a lifetime free credit card doesn’t carry any hidden charges. The cardholder needs to pay for what he/she has spent. The card issuer waives off the associated charges of a lifetime free credit card.
Yes, lifetime free credit card holders can use the card to withdraw money from ATMs in India and abroad.
If the cardholder fails to pay the bill on time, the bank/financial institution will charge a late fee. Additionally, the bank may deactivate the card if the payment isn’t cleared. Please note that this may have a negative impact on the cardholder’s credit score.
The availability of lifetime free credit cards depends on credit lending companies, banks and NBFCs. Not all of them offer lifetime free credit cards. Also, you must fulfil their eligibility criteria to gain access to lifetime free credit cards.
Some of the best lifetime free credit cards in India in 2023 are:
• IDFC FIRST Select Credit Card
• IDFC FIRST Millenia Credit card
• RBL Bank Insignia Preferred Banking Credit Card
• ICICI Platinum Chip Credit Card
• Amazon Pay ICICI Credit Card
The IDFC First Bank credit card that is free for lifetime is the IDFC First Select Credit Card.
To check if your card is lifetime free, visit the fees and charges section of the card issuer’s website. If the joining and annual fees are nil, then your card is a lifetime free credit card.
There are quite a few banks that offer lifetime free credit cards. Some of them are Axis Bank, ICICI Bank, RBL Bank, Dhanlaxmi Bank, Bank of Baroda, and HSBC to name a few.
This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
