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 in order to keep your credit card active year-over-year, you need not to pay any extra charges.
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’.
Below listed are some of the best free credit card options you can choose from:
Card Name |
Joining & Annual Fee |
Best Suited For |
Benefits Covered |
Nil for Burgundy programme clients |
Shopping and lifestyle benefits and airport lounge access |
|
|
Nil |
Online shopping cashback on Amazon and partner store discounts |
|
|
No joining fee, no annual fee for 1st four years |
Fuel surcharge waiver and rewards |
|
|
Nil |
Movie tickets and insurance cover |
|
|
Nil for Burgundy programme clients |
Higher withdrawal limits and longer credit period |
|
|
Nil |
Shopping using EMI and dining benefits |
|
|
Nil |
Higher reward points and benefits for eating out or food delivery |
|
|
Nil |
High cash withdrawals, longer credit cycle, and reward on milestone spending |
|
|
Nil |
Personal accident cover, attractive lifestyle benefits |
|
|
Nil |
Shopping |
|
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.
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.
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.
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, usually of 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.
A number of leading banks in the country offer lifetime free credit cards. Some of these popular banks are SBI, ICICI Bank, HDFC Bank, Axis Bank, IndusInd Bank, Kotak Bank, YES Bank, etc.
Some of the best travel rewards credit cards with no annual fees include:
The best no-fee cash back rewards’ credit card list includes:
Yes. A lifetime-free credit card offers a number of travel benefits and can be used overseas. For instance, the HSBC Visa Platinum credit card offers air miles conversion on InterMiles, British Airways, and Singapore Airlines. However, there might be some overseas banking charges involved in the case of foreign transactions as per the respective banks’ policies.
The card issuer is usually very clear about the terms and conditions associated with the credit card, including the charges. A free credit card, typically, does not entail any other hidden charges. However, it is always recommended to read the terms clearly to avoid any unpleasant surprises later on.