Best Lifetime Free Credit Cards In India 2024

Forbes Advisor India analyzed 60 lifetime free cards available in the Indian market and accordingly we have come up with the above options. All the factors are specific to the free cards and should not be compared to paid cards as the grading is free card centric. Following are the factors taken into consideration while grading these cards.

1. We have picked these cards on the basis of the real time value of the benefits and not for the benefits which are there for the hack of it.

2. Cards should not have any hidden charges.

3. There should not be any difficult terms and conditions.

4. The cards should be simple to use and not complex as far as their rewards are concerned.

5. Number of add-on features available have also been considered.

No annual fee credit cards, also known as fee-free credit cards, offer a range of features and benefits without charging an annual membership fee. Here are some of the common features and benefits associated with these types of credit cards:

• No Annual Fee: As the name suggests, the primary benefit is that there’s no annual fee to maintain the card. This makes it a cost-effective choice for those who want to avoid paying yearly charges.
• Credit Building: Many no annual fee cards are designed for individuals who are new to credit or looking to rebuild their credit. They can be a helpful tool for building a positive credit history without incurring extra costs.
• Introductory 0% APR: Some no annual fee credit cards offer an introductory 0% APR (Annual Percentage Rate) on purchases or balance transfers for a specific period. This can be advantageous if you plan to make a big purchase or want to transfer existing credit card debt to save on interest.
• Rewards Programs: While no annual fee cards may not offer as generous rewards as premium cards, they often come with cashback, points, or miles rewards. These can be redeemed for various benefits, such as statement credits, travel, gift cards, or merchandise.
• No Foreign Transaction Fees: Several no annual fee cards don’t charge extra fees for foreign transactions. This can be valuable if you travel internationally or make online purchases in foreign currencies.
• Security Features: Credit cards, whether with or without an annual fee, typically come with security features like fraud protection, zero liability for unauthorized transactions, and purchase protection. These features safeguard your finances and purchases.
• Digital Tools: Many no annual fee cards offer online account management tools, mobile apps, and notifications that help you keep track of your spending and manage your account easily.
• Auto Rental Insurance: Some no annual fee cards provide coverage for collision damage when you rent a car, saving you money on additional rental insurance.
• Extended Warranty: These cards may offer extended warranty protection, which adds extra coverage to eligible manufacturer’s warranties on qualifying purchases.
• Free Credit Score: Certain no annual fee cards provide free access to your credit score, allowing you to monitor your credit health and make informed financial decisions.
• Flexible Redemption Options: Rewards earned on no annual fee cards often come with flexible redemption options, giving you the freedom to choose how you’d like to use your rewards.
• Cashback and Discounts: You may receive cashback rewards or discounts on specific categories, such as dining, gas, groceries, or online shopping, depending on the card’s features.
• No Penalty APR: These cards may not impose a penalty APR if you make a late payment, which means your interest rate won’t increase due to a late payment.

To apply for a lifetime free credit card, you will typically need to provide the following documents:

Identity Proof: A government-issued photo identity document, such as your Aadhar card, passport, voter ID, or driver’s license.

Address Proof: A document that verifies your residential address. This can be a utility bill (electricity, water, gas), a recent bank statement, rent agreement, or your Aadhar card (if it contains your current address). Ensure that the address on your credit card application matches the one on your address proof.

Income Proof: Lenders need to assess your ability to repay credit card bills, so you may be required to provide income proof. This can include salary slips, income tax returns, bank statements, or a salary certificate from your employer. The specific income requirements may vary by the issuing bank.

PAN Card: Your Permanent Account Number (PAN) card is essential for taxation purposes and is typically required when applying for a credit card.

Passport Size Photographs: Recent passport-size photographs. The number of photographs required can vary, so it’s advisable to check with the specific credit card issuer.

Additional Documents: Depending on the credit card issuer’s requirements and the specific credit card you’re applying for, additional documents may be requested. For instance, if you are self-employed, you may need to provide business-related documents.

To apply for a no annual fee credit card online, follow these steps:

• Eligibility: Review the eligibility criteria for the credit card you want to apply for. Eligibility requirements typically include minimum age, income, and credit score.
• Check Credit Score: Obtain a copy of your credit report and check your credit score. Credit card issuers often have minimum credit score requirements for card approval. Ensure your credit score meets the criteria.
• Choose a Credit Card: Visit the official website of the bank or credit card issuer that offers the no annual fee credit card you’re interested in. Select the specific card you wish to apply for.
• Online Application: Fill out the online credit card application form. You’ll need to provide personal information, contact details, employment details, and financial information. Be sure to double-check the accuracy of the information provided.
• Documents: Upload the required documents, which typically include identity proof, address proof, income proof, PAN card, and passport-size photographs. The specific document requirements may vary by issuer.
• Review Terms and Conditions: Carefully review the terms and conditions of the credit card, including the interest rate, credit limit, reward programs, and any applicable fees other than the annual fee.
• Accept Terms and Submit: After reviewing the terms and ensuring all details are correct, accept the terms and conditions and submit the application.
• Approval: The credit card issuer will review your application. This process may take a few days to a few weeks. You may receive an email or SMS notification about your application status.
• Provide Additional Information: Sometimes, the bank may require additional information or clarification. Be prompt in providing any requested documents or details.
• Card Delivery: If your application is approved, the credit card will be processed, and you will receive it by mail at your registered address.
• Activation: Once you receive the credit card, activate it as per the instructions provided by the issuer. Activation is typically done through a phone call or online.

While Lifetime Free credit cards typically don’t have annual fees, it’s essential to be aware of potential hidden charges and fees associated with credit card usage. These can include:

• Interest Charges: If you carry a balance on your credit card by not paying the full outstanding amount by the due date, you’ll be charged interest. The interest rate varies among credit cards and can be substantial if not managed properly.
• Late Payment Fees: Failing to pay at least the minimum amount due by the due date can result in late payment fees. These fees can add up quickly and negatively affect your credit score.
• Overlimit Fees: If you exceed your credit limit, some credit cards may charge an overlimit fee.
• Cash Advance Fees: If you use your credit card to withdraw cash from ATMs, you may incur cash advance fees and higher interest rates than regular purchases.
• Foreign Transaction Fees: If you use your credit card for transactions in foreign currencies or outside your home country, you may be subject to foreign transaction fees, which are a percentage of the transaction amount.
• Duplicate Statement Fees: Requesting additional or duplicate statements might result in fees.
• Card Replacement Fees: If your credit card is lost or stolen and you need a replacement, some banks charge a fee for this service.
• Balance Transfer Fees: If you transfer a balance from another credit card to your Lifetime Free credit card, there may be a balance transfer fee.
• GST (Goods and Services Tax): GST will apply to certain fees and charges associated with credit cards.

Lifetime free credit cards in India offer the convenience of credit without annual fees. They are an excellent choice for individuals who want to access the benefits of credit cards without incurring additional charges, making them a cost-effective financial tool for various everyday needs. However, it’s essential to review the terms and conditions of each specific card to understand any potential fees or charges that may apply for certain transactions or actions. Overall, these cards provide a valuable option for those seeking financial flexibility and convenience.

One can apply for a no-annual-fee credit card by visiting the website of the credit card company or a partner company.

If the applicant is not very tech savvy then he can visit any branch of the bank offering the desired card.

You can also call the toll free numbers for booking a call with the agent taking care of credit cards.