Lifetime Free Credit Cards: No Fees, Endless Rewards

While the features and benefits of lifetime free credit cards vary basis the card variant, here are some of the common benefits that you can avail from such cards:

No Joining/Annual Fee

Since lifetime free credit cards come with no joining or annual fees, they are a cost-effective option for individuals who want the convenience of credit without the additional financial burden.

Credit Building

Lifetime free credit cards are a great tool for building your credit score. By using the card responsibly, paying bills on time, and keeping credit utilization low, you can gradually improve your credit score. This can make it easier for you to qualify for regular or premium credit cards in the future.

Relaxed Eligibility Criteria

Since most lifetime free credit cards are entry-level cards, they might come with easier eligibility terms.
These cards are usually targeted towards first-time credit card users or salaried professionals with moderate incomes. This makes it easier to qualify for the card without stringent income or credit score requirements.

Rewards or Cashback Benefits

Despite being free, lifetime free credit cards offer rewards or cashback on transactions, such as purchases on groceries, dining, or fuel.
You can accumulate reward points or earn cashback, which can later be redeemed for discounts, vouchers, or statement credits. This adds extra value to your everyday spending.

Lifetime free credit cards come with relaxed eligibility criteria. The eligibility criteria vary from issuer to issuer, but some common points on which eligibility is decided are as follows:

• Minimum age requirement: 18 years
• Employment: Self-employed or Salaried
• Residence: Indian Resident or Non-Indian Resident
• Credit Score: As decided by the issuer

While lifetime free credit cards have relaxed eligibility criteria, you must check the conditions or eligibility criteria required by the respective card issuer before opting for a card.

Individuals planning to start their credit journey and looking for a card with basic benefits can apply for lifetime free credit cards by contacting the respective card issuer. The eligibility criteria for lifetime free cards usually include a reliable source of income, age, type of employment, and credit score. However, it may vary from issuer to issuer.

You can check the eligibility criteria on the official website or by contacting the customer care of the respective issuer and applying for the card accordingly. Also, you might need to submit relevant proofs along with the credit card application.

You can also check lifetime-free credit card offers from Paisabzaar.

Click here to explore pre-qualified offers and choose a card that fits your needs!

Q. What are the best credit cards in India with zero annual fee that offer lounge access?

A. HSBC Visa Platinum Credit Card and IDFC FIRST Select Credit Card are some lifetime free credit cards with lounge access, that offer 3 complimentary airport lounge access at domestic & international lounges and 4 complimentary domestic airport lounge visits per quarter, respectively. IDFC Millennia Credit Card also offer access to railway lounges for 4 visits per quarter.

Q. Which banks offer lifetime free credit cards?

A. Popular card issuers in India, such as ICICI Bank, IDFC FIRST Bank, HSBC Bank, etc., offer lifetime free credit cards.
Some other issuers may also run no annual fee credit card offers from time to time. You must track the issuers’s website for updated details to get one such card.

Q. Can I use a lifetime free credit card overseas?

A. Yes, most lifetime free credit cards come with international acceptance and can be used overseas. However, a foreign exchange markup fee of up to 3.5% may be charged on purchases made in foreign currency, depending on the card variant.

Q. Are lifetime free credit card really free?

A. A life time free credit card does not charge any joining or annual fee ever. However, charges like late payment fee, cash advance fee, interest, etc., will be applicable depending on how you use the card.

Q. I was told that my card is free but why is the annual fee charged now?

A. It is important to get clarity on which charges are free. In this case, it seems the issuer has waived off the joining fee but second year onwards, annual/renewal charges will be applicable.
Some cards also have the condition that if you use certain facility within a specified period, say the first 90 days, to make the card lifetime free. When you get a free credit card offer, read the terms and conditions in detail to ensure that the card carries no charges whatsoever.

Q. What are the terms and conditions applicable to a lifetime free credit card?

A. Lifetime free credit cards function in the same way as a regular credit card. The only difference is in the annual fee.
While lifetime free credit cards do not charge an annual fee, the terms and conditions related to charges, payments, due dates, etc. will be the same as a regular credit card.

Q. What happens if I don’t pay the bill on my no annual fee credit card?

A. When you don’t pay the bill by the due date, you will have to incur late payment charges as well as finance charges (interest). The rate varies from card to card.
Also, when you have an unpaid balance in your credit card account, the interest-free period also stands cancelled which means all new transactions will also attract finance charges from the first day.

Q. Why should I get a credit card with an annual fee when no annual fee credit cards are available?

A. Lifetime free credit cards mostly come with basic features and a low rewards rate. On the other hand, there are cards that charge annual fee but focus on one or more categories and have a better reward/cashback structure.
It is important to weigh the annual fee with the overall value of the benefits offered to see whether the fee is justified. If the value of benefits surpasses the annual fee by a wide margin, it is worth applying for.

Q. Are there any hidden charges or fees associated with a lifetime-free credit card?

A. Lifetime-free credit cards do not charge a joining fee or annual fee. However, other charges, such as late payment fees and finance charges, will apply.
When getting a lifetime-free credit card, consumers must confirm with the bank if this benefit comes with any additional terms and conditions, such as meeting a spend threshold.

Q. Can I upgrade or downgrade my existing credit card to a lifetime-free credit card?

A. If you have a credit card that charges a high annual fee and you are not able to make the most of its benefits to compensate for the fee, it would be better to upgrade/downgrade to a lifetime fee variant.
You can explore the available options and speak with a customer support representative to initiate the process. However, approval or rejection will be at the issuer’s sole discretion.

Q. Is there any lifetime free credit card for online shopping?

A. For those who seek benefits on online shopping with a lifetime free credit card, Amazon Pay ICICI Credit Card is a great option. The card gives 5% cashback on Amazon spending for Prime members and 3% cashback for consumers who do not have a Prime Membership.
On all other spends, the card gives 1% cashback. With substantial savings on Amazon and decent value-back across other spends, it is a must-have for online shoppers.

Suggested Read: Best Credit Cards for Online Shopping in 2024

Q. Is it okay to have multiple lifetime free credit cards?

A. Yes, you can have multiple credit cards, as long as you use your credit limit judiciously and make all your bill payments on time.
Since lifetime free credit cards do not charge any joining or annual fee, the credit limit on these cards will benefit your credit score.

Q.What are some lifetime free credit cards in India with airport lounge access?

A. While most lifetime free credit cards are entry-level cards with basic benefits, some cards may offer a limited number of free airport lounge visits.
For example, IDFC FIRST Select Credit Card and IDFC FIRST Wealth Credit Card both offer 2 complimentary domestic lounge visits per quarter and the latter also offers 2 international lounge visits per quarter.
Federal Bank Scapia Credit Card also offers unlimited domestic lounge visits. Consumers should note that the free visits may be subject to certain terms and conditions such as meeting spend milestones.

Q. Which is the best lifetime free credit card for salaried persons in India?

A. All lifetime free credit cards are offered to salaried individuals. The best card for you would be the one that matches your spending behavior and offers the best value on your preferred spends.
For example, if you travel often, Federal Bank Scapia Credit Card could be a good fit for you whereas for online shoppers, Amazon Pay ICICI would be a better lifetime free credit card.

Q. What is the difference in terms of features between a paid and a lifetime free credit card?

A. Most lifetime credit cards come with basic benefits like a low reward rate and limited benefits on other categories like dining, travel, etc.
While this may benefit consumers who do not spend a big amount through their credit card, people who seek more targeted benefits could get better value with a card that charges an annual fee but offers good value in their preferred category.
For instance, if you seek substantial benefits on travel, you can consider getting a card that is co-branded with an airline or travel portal, as you would be able to maximize the benefits by putting regular travel spends on the card.
It is advisable to select a card based on its features and benefits and not only on the basis of annual fee.
On most paid cards, the value that you can derive by maximizing the benefits generally surpasses the annual fee charged.