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Besides the credit card interest rate, credit card aspirants must also check a card’s annual fees. Lifetime-free credit cards constitute a new, popular category that does not charge any annual fee. Read further to know about all the exciting lifetime free credit cards you could opt for in India today.
Introduction to lifetime free credit cards
Banks or financial institutions that issue lifetime free credit cards do not charge any annual fees from the cardholder for using the credit card. The bank determines the annual fee, and is a function of the rewards, cashback offers, and the credit limit offered by the bank. With standard credit cards, the credit card holder is supposed to bear these charges in return for making credit card payments.
But with IDFC FIRST Bank’s FIRST Classic Credit Card cardholders can enjoy numerous benefits free of cost. The benefits include four complimentary railway lounge visits per quarter, complimentary roadside assistance worth ₹ 1399, and a fuel surcharge waiver of 1% at all fuel stations across India up to ₹ 200 per month. IDFC FIRST Bank also offers attractive cashback on lifetime free credit cards. There are more to the list of lifetime free credit cards. Read on to know more.
The best lifetime free credit cards in 2023
Only some lifetime free credit cards are worth it. Here is a list of four credit cards with no annual fee that is effective for every credit cardholder:
1. IDFC FIRST Bank Select and Classic Credit Cards
Our first recommendation would be IDFC FIRST Bank’s “Select” and “Classic” credit cards. Here are the features:
- 10X reward points on incremental spends above ₹ 20000 (₹ 25,000 for Select) per month and on spends done on your birthday.
- 6X and 3X reward points on online and offline purchases for spends up to ₹ 20,000 per month (₹25,000 for Select)
- Cashback offers such as “Buy one, get one” offer on movie tickets
- Complimentary rail lounge and domestic airport lounge visits per quarter
- Fuel surcharge waiver of 1% at all fuel stations across India
- Personal accident cover of ₹ 2,00,000 (₹ 5,00,000 for Select) and Lost Liability Cover of ₹ 25,000 (₹ 50,000 for Select)
2. Amazon Pay ICICI credit card
Here are a few top features of the Amazon Pay ICICI credit card:
- 5% cashback on Amazon Pay for Amazon Prime customers
- 2% cashback on 100+ Amazon partner merchants
- 15% discount and offers on select partner restaurants in India
- 3% cashback for Non-Prime customers
3. ICICI Platinum Chip credit card
The ICICI Platinum Chip credit card offers the following benefits:
- One reward point per ₹ 100 spent on utilities and insurance
- Two reward points per ₹ 100 spent across all other categories except fuel
- 1% fuel surcharge waiver at HPCL pumps for transactions across ₹ 4000
- Up to 15% off on dining at 2500 partner restaurants across India
4. Dhanlaxmi Bank Platinum credit card
Dhanlaxmi Bank’s Platinum credit card offers the following benefits:
- 5% cashback on supermarket and departmental store purchases
- Complimentary insurance cover
- Purchase protection covers up to ₹ 1,00,000
- Global customer assistance is available
Every credit card offers unique benefits and fits the needs of certain types of borrowers. Therefore, evaluating your needs and gauging your spending habits before getting a credit card is essential.