Lifetime Free Credit Card

Some of the Top Credit Cards in India with No Annual Fee

Credit cards with no annual fees, also known as “lifetime free credit cards”, offer the unique benefit of zero joining fee and zero annual fee on your card. This essentially means that you don’t have to pay any extra charges in order to keep your credit card active year-over-year. 

Since you won’t have to pay any fee, lifetime free credit cards are the perfect option for first-time card users. Although the rewards offered by such cards may not be as comprehensive as high-end credit cards, they’re still very comprehensive and offer great value to users. 

Depending on the kind of free credit card that you opt for, the features, benefits and rewards on offer may vary. Cash back cards, rewards cards, lifestyle cards, fuel cards, travel cards and shopping cards are a few of the more popular categories of lifetime free credit cards that are available in India. 

Here’s a list of some of the best credit cards in India that come with no annual fee:

 

Top 10 Lifetime Free Credit Cards in India, 2023 

Below listed are some of the best free credit card options you can choose from:

 

Disclaimer: Bajaj Markets does not offer lifetime-free credit cards. Readers are advised to visit the respective bank websites for lifetime-free credit card applications.

Features and Benefits of Lifetime-Free Credit Cards 

• No Annual Fee: Naturally, one of the foremost benefits of a lifetime-free credit card is that you do not need to pay any annual fee for using it.

• Quick Approval: The income requirements of most free credit cards are usually low, and other eligibility requirements are relatively straightforward. This is why you can expect a quick approval of your application and issuance of the card.

• Rewards and Cashback: Almost all the best free credit cards offer rewards and cashback on spending in different categories and as per different spending ranges. These rewards can be redeemed to shop for products or converted into cash, depending on the terms of your chosen card. 

• Lifestyle Benefits: Many credit cards with no annual fee offer other benefits as well, such as airport lounge access, discount on dining or food delivery, online shopping, free movie tickets etc. It is advisable to compare these benefits to get the card that best suits your lifestyle.

• Fuel Surcharge Waiver: It is common for free credit cards to offer a fuel surcharge waiver of usually up to 1%. With continuously rising fuel prices, this can result in a big saving overall.

• Welcome Offers: Due to the presence of several free credit cards, the deal can be sweetened by the inclusion of welcome offers such as shopping vouchers, bonus reward points, complimentary OTT subscription etc. Don’t miss to look out for such offers while choosing a card for yourself.

Eligibility Criteria & Documentation of a Lifetime Free Credit Card

The eligibility criteria to apply for any credit card with no annual fees differs from one bank to another. However, there are certain basic eligibility criteria that must be adhered to. These include:

• Age: You must be in the age group of 21-60 years.

• Employment: You must either be salaried or self-employed.

Note: In most cases, you would be asked to show income proof such as salary slips, bank statements, and/or income tax returns. However, these eligibility criteria may change based on individual bank’s policies.

1. Documentation for Lifetime Free Credit Card

If the eligibility criteria are fulfilled, the following credit card documents can be submitted to initiate the application process.

• Identity Proof: Aadhaar card, PAN card, government-issued identity card, etc.

• Address Proof: Passport, driving Licence, Aadhaar card, PAN card, electricity bill, etc.

• Income Proof: Recent salary slips, ITR documents, bank statements, etc.

Lifetime Free Credit Cards Without Income Proof 

Almost all banks ask you for a proof of income when you apply for a credit card. Even with lifetime free credit cards, it is imperative to have proof of income. This will help the bank to know whether or not you have sufficient resources to pay your credit card bills.

However, in case you don’t have verifiable proof of income, you may find it difficult to obtain a credit card. For this purpose, several banks have come out with lifetime free credit cards that are issued without proof of income. These credit cards are secured against a fixed deposit. You can simply open a fixed deposit with the concerned bank and apply for a credit card against it.

How to Apply for a Lifetime Free Credit Card

In order to apply for a credit card with no annual fee, you can visit the respective bank and fill out an application form or apply online through the bank’s official website.

Here are the steps for no annual fee credit card application: 

• Step 1: You can browse through the credit card section and choose a ‘no fee credit card’ from the bank’s lifetime-free credit card list as per his/her requirement.

• Step 2: Make sure to check the eligibility criteria listed by the respective bank for an annual fee-free credit card application.

• Step 3: If you meet the eligibility criteria, you can click on the ‘Apply’ button.

• Step 4: You must provide details such as name, age, income proof, etc.

• Step 5: Next, you need to submit the requisite documents, including income proof (salary slips, Form 16, etc).

• Step 6: Once all the details are entered, click ‘Submit’.

Is a Credit Card with No Annual Fee Truly Free?

Credit cards that do not charge an annual fee are free in the sense that they do not attract any membership charges. This means that you are not required to pay only the annual membership fees. However, you will still be required to pay interest, forex markup fees and withdrawal charges, among other operational charges sought for a credit card.