5 Best Lifetime Free Credit Cards: Zero Annual Fee Cards To Save More On Spends
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27 June 2022Most credit card companies charge cardholders an annual fee to keep the card account open. The annual lump sum fee is charged to reduce the financial risk of the card issuer. However, a lifetime free credit card doesn’t require its users to pay any joining or annual fee. It is a suitable option for users who prefer long-term card usage and wish to improve their credit score.
This article gives a detailed overview of lifetime free credit cards, how to apply for it and the best lifetime free credit cards in India. Read on!
Table of contents
5 Best Lifetime Free Credit Cards in India in 2022
Here is a list of the 5 best lifetime free credit cards in India for the year 2022
| S No. | Lifetime Free Credit Card | Key Benefits | Best Suited For |
| 1. | IDFC First Select Credit Card | Reward points on online and offline stores as per applicable terms and conditionsUsers can avail points from incremental spending and for shopping on birthdays | Rewards and online shopping |
| 2. | Amazon Pay ICICI Credit Card | 5% cashback for shopping on Amazon for Prime membersCashback of 1% on all other expenses | Co-branded benefits |
| 3. | RBL Insignia Preferred Banking World Credit Card | Reward points on domestic and international transactions | Premium privileges |
| 4. | HSBC Visa Platinum Credit Card | Reward points for subsequent purchases made after spending a specified amount in a year | Movies and rewards |
| 5. | Bank of Baroda Prime Credit Card | 1% cashback for every Rs. 100 that one spends | Cashback |
*This table is only for educational purposes
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.
Also Read: Personal Loan And Credit Card: Differences And Factors To Consider
Features and Benefits of Lifetime Free Credit Cards
The features and benefits of a lifetime free credit card are enumerated below.
- Most lifetime free credit cards offer cashback and reward points on every transaction.
- Cardholders can avail of a high cash withdrawal limit without paying annual fees.
- Some zero annual fee credit cards also offer credit points on dining and travel.
- Free credit cards usually offer benefits such as a fuel surcharge waiver.
Documents Required and Eligibility Criteria for Lifetime Free Credit Card
Applicants are advised to get familiar with the list of documents required for a lifetime free credit card before applying. 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, government-issued identity documents
Here are the eligibility criteria that one must fulfil before applying for the best free credit card in India:
- The applicant’s age has to be between 21 and 60 years.
- He/she needs to be a salaried individual or self-employed.
Also Read: 7 Benefits Of Using A Credit Card: Pay And Get Rewarded!
Final Word
If you are searching for a credit card with no annual maintenance charges, you can opt for a lifetime free credit card. The range of cashback and reward benefits offered by zero annual fee credit cards make it a beneficial choice for card users. You can easily apply for free credit cards online and choose the best one for you after comparing the best lifetime free credit cards.
FAQs on Lifetime Free Credit Cards
Ans: 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.
Ans: 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.
Ans: Yes, lifetime free credit card holders can use the card to withdraw money from ATMs in India and abroad.
Ans: 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.
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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.
