Annual fees are charges that you pay your credit card issuer just for the privilege of using their credit card. These fees can be worth paying if you receive substantially higher rewards than those offered on a zero annual fee credit card. But paying annual fees might not make sense if you are a moderate user of credit cards who doesn’t spend or travel enough to take the advantage of those additional rewards and perks. In such cases, cards without annual fees offer a lot more value and help you save on additional cost of maintaining your card.
Here are 5 recommended zero annual fee credit cards that offer more savings:
- Landmark Rewards Platinum Credit Card
Annual savings (on Rs.2 lacs annual spend): Rs.7434
- Avail up to 9x reward points on Landmark-affiliated stores such as Max, Lifestyle and Home Centre.
- Enjoy 2x reward points on all other categories.
- InstaBuys option will help you pay in easy instalments for your big-ticket purchases.
- Get 5% cashback at SPAR stores.
- Additional 5% cashback on Lifestyle and Home centre outlets during sale previews.
- Enjoy complimentary lounge access at selected domestic airports.
- ICICI Visa Platinum Chip Credit Card
Annual savings (on Rs.2 lacs annual spend): Rs.7116
- 2.5% surcharge waiver on fuel transactions at all HPCL petrol pumps
- Avail 2 PAYBACK points on every Rs.100 spent for retail purchases
- PAYBACK points can be redeemed anytime by calling on 24 hour customer care
- Get minimum 15% off on dining through the Culinary Treats Program
- Get complimentary access to select airport lounges in India.
Annual savings (on Rs.2 lacs annual spend): Rs.5,160
- Earn 4 turbo points (4X rewards) on every Rs.150 spent on all Indian oil petrol pumps
- Earn 2 turbo points on every Rs.150 spent on groceries and at supermarkets
- Earn 1 turbo point on every Rs.150 spent on dining, shopping and more
- Save 5% on your Indian Oil fuel bills – 2.5% Fuel Waiver + 4x turbo points rewards
- Save on shopping done from Citibank partner merchants across India.
Annual savings (on Rs.2 lacs annual spend): Rs.5596
- 2 Reward Point on every Rs.100 spent
- You can get set customised purchase limits on your card
- Avail zero fraud liability cover if your card is lost or stolen
- Earn 4,000 bonus reward points on swiping your card within 60 days of card issuance
- Get double reward points on all your weekend expenditures
Annual savings (on Rs.2 lacs annual spend): Rs.5052
- Earn 5x reward points at fine dining outlets, leading hotels and restaurants
- Earn 5x reward points on fuel spends in India
- Earn 1 reward point on every Rs.150 spent on all other categories
- Avail premium lifestyle benefits from Standard Chartered partner merchants
- Receive periodic offers and vouchers on holiday packages, movie tickets and more
Considering the range of benefits you can avail for free as mentioned above, maybe one of the above credit cards would be a better fit for your wallet. These no-annual-fee credit cards would definitely be more suitable than a card which offers rewards across expenditure categories that do not suit your spending habits.
Table: Comparison of key features of top 5 no-annual-fee credit cards for 2017*
|Credit Cards||Annual fee||Annual Savings|
(For spends of Rs. 2 lakhs)
|Landmark Rewards Platinum Credit Card||Nil|
|Get discount vouchers worth Rs.2700|
|ICICI Visa Platinum Chip Credit Card||Annual fee of Rs.99 is reversed if annual spend is Rs.50,000 or above|
|IndianOil Citi Platinum Credit Card||Rs.1000 annual fee is reversed if the annual spend is Rs.30,000 or more.|
|Activation bonus as per applicable offer|
|RBL Delight Platinum Credit Card||Zero annual fee for selected customers|
|Swipe your card within 60 days of card issuance and receive 4000 reward points|
|Standard Chartered Platinum Rewards credit card||NIL|
*The facts and figures mentioned above are indicative and subject to change.