Lifetime Free Credit Card With No Annual Fee In India

25 October, 2024


Synopsis 

• A Lifetime Free Credit Card does not come with joining or annual fees. 
  
  

• However, other charges like late payment fees or cash advance fees may apply. 
  
  

• Credit Card issuers may offer Lifetime Free Cards for a limited period. 
  
  

You see an advertisement promoting a ‘Lifetime Free Credit Card’, and you wonder what the catch is. Are Credit Cards free? If they are, why do banks take the trouble of issuing them?

Usually, Credit Cards come with several fees and charges. These can include:

• Annual fees: Credit Card issuers levy this charge for maintaining your active Credit Card. 
  
  

• Finance charges: This is the interest the bank charges if you settle your outstanding Credit Card bills after the statement due date.  
  
  

• Cash advance fees: Card issuers charge this fee when you use your Credit Card to withdraw cash from ATM. 
  
  

Whether you pay anything for your Credit Cards or not depends on how you use the Credit Card? In fact, if you use it prudently and smartly, a Credit Card can help you reap many benefits such as rewards, cashback and discounts. Keep reading on to know more about Lifetime Free Credit Cards.

What are Lifetime Free Credit Cards?

Lifetime Free Credit Cards are Credit Cards where you don’t have to pay joining fees and annual fees. Credit Card issuers may offer certain Credit Cards as lifetime free during specific events. Although annual fees are waived, charges like late payment fee, cash advance fee, over-limit fee, etc., still apply.

Enjoy Zero Joining & Annual Fees on HDFC Bank Credit Cards

Grab a lifetime free HDFC Bank Credit Card and unlock rewards on everyday spends. Apply during the offer period to skip the annual fees.

 
Key Features and Benefits of Lifetime Free Credit Cards

Here’s an overview of the features:

• No Annual Fees: The most obvious benefit is the cost saving; no yearly charges to maintain your card. 

• Reward Points and Cashback: You can access reward programmes, cashback on select spends and discounts on dining, shopping, and travel. 

• EMI Conversion: Most lifetime free cards may allow big-ticket purchases to be converted into manageable EMIs. 

• Contactless Payments: Enjoy the ease and speed of tap-and-pay transactions for quick checkouts.
  
  

Difference Between Regular Credit Cards and Lifetime Free Credit Cards

The main difference between a regular Credit Card and Lifetime Free Credit Card is the absence of joining and annual fees. However, you may not be able to access certain features associated with the payment of joining fees.

Lifetime Free Credit Card Eligibility Criteria

Even though you’re not paying the joining fee, you must meet certain eligibility criteria to avail of the card:

• Age: Usually between 21 and 65 years 

• Income: Minimum monthly income can vary across cards 

• Employment: Salaried or self-employed individuals 

• Credit Score: A good credit score (700 or higher is generally preferred) 
  
  

Documents Required for Lifetime Free Credit Cards

You typically need the following documents when applying:

• Identity & Address Proof: Aadhaar card, PAN card or passport 

• Income Proof: Salary slips, bank statements or ITRs 
  
  

Credit Card issuing banks may offer instant lifetime free cards to pre-approved customers. Pre-approved applications typically require minimal documentation.

How to Apply for Lifetime Free Credit Cards?

You can follow these steps to apply for Lifetime Free Credit Cards with ease:

1. Visit the bank’s website or branch to see if you qualify for a Lifetime Free Credit Card. 

2. Select a card that matches your lifestyle (shopping, fuel, travel, etc.) 

3. You can apply online or offline. 

4. The bank will verify your details and process your application. 

5. If approved, your card is issued and delivered within 15 working days.
   
   

Keep an eye out for limited-period offers where banks waive the annual fee if you apply for the card during this period.

Tips to Maximise Benefits from Your Lifetime Free Credit Card

Here’s how you can make the most of your Lifetime Free Credit Card:

• Pay full dues on time to avoid interest charges and build a strong credit score. 

• Pay for groceries, fuel, bills, etc., to rack up rewards. 

• Redeem your points for vouchers, merchandise or cashback. 

• Use your card responsibly since late payment, cash advance and over-limit fees still apply. 
  
  

Common Myths About Lifetime Free Credit Cards

Some common myths associated with Lifetime Free Credit Cards are explained below:

• Myth 1: They come with fewer benefits
  
  Incorrect. Many lifetime free cards offer competitive rewards, EMIs and discounts.
  
  

• Myth 2: They are designed for low-income users
  
  Incorrect. Banks offer these cards to a wide range of customers. 
  
  

• Myth 3: Lifetime free means no charges at all
  
  While there's no annual fee, other charges like late payment, interest on outstanding and cash advance fees may still apply. 
  
  

• Myth 4: They come with low credit limits 
  
  This is not true as credit limits are solely based on the cardholder’s income and creditworthiness. 
  
  

Final Note 

A Lifetime Free Credit Card combines the convenience of a regular Credit Card with the added benefit of zero annual fees. It is important to note that Lifetime Free Credit Card offers may be available only for a limited time or for select customers. If you're planning to apply, keep an eye out for such promotional offers and read the fine print carefully.

So, yes, a Credit Card can be free if you use it smartly.

Apply for a Lifetime Free Credit Card now.

Apply for Credit Card and enjoy special privileges and cashback offers with HDFC Bank.
 
*Disclaimer: Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Credit Card approvals at the sole discretion of HDFC Bank Limited. Credit Card approvals is subject to documentation and verification as per Bank's requirement. Interest rates are subject to change. Please check with your RM or closest bank branch for current interest rates.