If you're new to using credit cards or simply want to avoid paying any fees, a lifetime free credit card with no joining or annual fee is a great option. These cards are perfect for beginners who are just starting their professional journey or have never used credit before. They're also ideal for anyone who prefers not to pay any fees for their card. While most of these cards offer basic benefits and have low rewards rates, there are a few that provide good value.
Here are the best credit cards with zero annual fees.
1. Kotak 811 #DreamDifferent Credit Card
The Kotak 811 #dreamDifferent Credit Card is a unique secured credit card backed by a fixed deposit. Along with offering security, it provides various benefits such as fuel surcharge waiver and railway surcharge waiver. Additionally, cardholders can enjoy exclusive offers upon achieving spending milestones. By spending Rs 75,000 or more, users can unlock the milestone program, which offers bonus rewards in the form of either cashback or PVR tickets.
Key Highlights
- Receive a 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 3,000 at all petrol pumps, with a maximum waiver of Rs. 3,500 per year.
- Get a 1.8% railway surcharge waiver up to Rs. 500 when booking on the IRCTC website and 2.5% when booking at railway counters.
- Earn 2 reward points for every Rs. 100 spent online.
- Earn 1 reward point for every Rs. 100 spent on other transactions.
2. ICICI Platinum Chip Credit Card
The ICICI Platinum Chip Credit Card is perfect for beginners who are looking for a basic credit card to start building their credit score. It's a lifetime free card with no annual fees, making it ideal for those who want simplicity. This card offers basic features and is well-suited for individuals who are new to using credit cards.
Key Highlights
- Enjoy up to 15% off on dining at 2,500 partner restaurants.
- Earn 1 reward point for every Rs. 100 spent on utilities and insurance.
- Earn 2 reward points for every Rs. 100 spent across all other categories except fuel.
- Redeem rewards against vouchers or products from the ICICI Rewards Catalogue.
- Receive a 1% fuel surcharge waiver at HPCL pumps for transactions up to Rs. 4,000.
3. Amazon Pay ICICI Bank Credit Card
The Amazon Pay ICICI Credit Card is a best choice for a lifetime free credit card with co-branded cashback benefits, especially in India. It offers great value, particularly for Amazon Prime users, who enjoy the highest cashback rates. The cashback is credited as Amazon Pay Balance, which can be used for further purchases on the platform.
Key Highlights
- Prime customers enjoy 5% cashback on Amazon spends, while non-Prime customers receive 3% cashback.
- Users receive 2% cashback on purchases from 100+ Amazon Pay partner merchants.
- For all other spends, there's a 1% cashback.
- The card provides a 15% discount and special offers at select partner restaurants in India.
- Additionally, it offers a 1% fuel surcharge waiver at all petrol pumps across India.
4. IDFC First Millennia Credit Card
The IDFC FIRST Millennia Credit Card is an excellent choice for individuals who spend frequently. Offered by IDFC First Bank, this lifetime free credit card provides 6-times more rewards specifically for online shopping, up to a predefined monthly milestone. Notably, the earned reward points do not expire, allowing users to accumulate rewards over time and redeem them for valuable benefits.
Key Highlights
- Earn 3X rewards on offline spends, up to Rs. 20,000 per month.
- Earn 6X rewards on online spends, up to Rs. 20,000 per month.
- Enjoy a 25% discount on movie tickets booked via the Paytm mobile app, up to Rs. 100.
- Receive a Rs. 500 welcome benefit by spending Rs. 50,000 within 90 days of card activation.
- After reaching the Rs. 20,000 spending milestone, enjoy 10-times more rewards across all categories.
- Get 5% cashback on the transaction value of EMIs created within 90 days, with a maximum cashback of Rs. 1,000.
5. HSBC Visa Platinum Credit Card
The best lifetime free credit card for movies and cashback is for individuals looking shopping and travel benefits without any annual fees. This card offers cashback and movie vouchers upon reaching specific spending milestones. Additionally, reward earnings increase significantly after reaching the Rs. 4 lakh spending milestone.
Key Highlights
- Benefit from a buy 1 get 1 free offer with BookMyShow for tickets booked on Saturdays.
- Enjoy Amazon Vouchers worth Rs. 500 and Swiggy Vouchers worth Rs. 250 as an introductory offer.
- Reach a total spending of Rs. 4 lakh in a year to unlock 5X rewards on all subsequent purchases.
- Receive 3 complimentary airport lounge accesses at domestic and international lounges or 3 AirDine vouchers as a welcome benefit.
- Get 10% cashback, up to Rs. 2,000, when you make at least 5 eligible transactions totaling Rs. 10,000 or more within the first 90 days of card activation.
6. IDFC First Select Credit Card
The IDFC First Select Credit Card is an excellent choice for individuals looking travel and lifestyle benefits without any annual fees. This card offers a high rewards rate and operates on an incremental spend reward points model. As you spend more, you earn more rewards, with the earning rate increasing once you reach specific spending milestones.
Key Highlights
- Enjoy a low foreign exchange mark-up fee of 1.99%.
- Earn 10X reward points on incremental purchases exceeding Rs. 25,000 per billing cycle.
- Earn 6X reward points on all online purchases, up to Rs. 25,000 per month.
- Receive 3X reward points on all offline purchases, up to Rs. 25,000 per month.
- Enjoy 5% cashback on your first EMI transaction made within 90 days of card setup.
- Get gift vouchers worth Rs. 500 upon spending Rs. 15,000 within 90 days of card setup.
- Access complimentary domestic airport lounges (4 per quarter) and railway lounges (4 per quarter).
- Benefit from a buy 1 get 1 offer on booking movie tickets via the Paytm mobile app, up to Rs. 250 per ticket (twice per month).
How to Apply for a No Annual Fee Credit Cards Online?
Steps to apply through Mybankingtips website:
Step 1: Visit MybankingTips SBI Credit Card Section.
Step 2: Select Your Ideal Credit Card.
Step 3: Click on the ‘ Apply Now’ tab.
Step 4: Fill in the required details to find out if you are eligible to apply for the card.
Step 5: Once you have entered all the necessary information, click on ‘Submit’.
Step 6: After you have successfully provided all the required information, you will receive a message with your application ID.
FAQs
Q. Are lifetime free credit card really free?
A. A lifetime free credit card doesn't have any joining or annual fee for its entire duration. However, charges such as late payment fees, cash advance fees, and interest will be applicable based on your usage of the card.
Q. Which banks offer lifetime free credit cards?
A. Popular card issuers in India like ICICI Bank, IDFC FIRST Bank, HSBC Bank, among others, commonly provide lifetime free credit cards. Additionally, some other issuers may periodically introduce no annual fee credit card offers. To obtain one of these cards, it's advisable to monitor the issuer's website for updated details.
Q. What is the best credit cards in India with zero annual fee that offer lounge access?
A. The HSBC Visa Platinum Credit Card and IDFC FIRST Select Credit Card are examples of lifetime free credit cards with lounge access. With these cards, you can enjoy benefits like 3 complimentary airport lounge visits at both domestic and international lounges. Additionally, the IDFC FIRST Select Credit Card offers 4 complimentary domestic airport lounge visits per quarter. Moreover, the IDFC Millennia Credit Card provides access to railway lounges for 4 visits per quarter.
Q. I was told that my card is free but why is the annual fee charged now?
A. When you're offered a free credit card, it's crucial to understand which fees are waived. In this case, while the joining fee might be waived, there could be annual or renewal charges starting from the second year. Some cards also have conditions where if you use specific facilities within a certain period, like the first 90 days, the card remains free for a lifetime. Always make sure to carefully read the terms and conditions to confirm that there are no charges associated with the card.
Q. What happens if I don’t pay the bill on my no annual fee credit card?
A. If you miss paying your credit card bill by the due date, you'll face late payment charges and finance charges (interest). The interest rate differs depending on the card you have. Additionally, if you have an outstanding balance on your credit card account, the interest-free period is canceled. This means that all new transactions will accrue finance charges from the first day.