Credit cards and their steadily rising prevalence should not come as a surprise to anyone. With their principal function of allowing deferred payment, credit cards have amassed immense popularity, and this trend is only going uphill from here.
However, the benefit of purchasing goods and availing of services on credit is not the sole reason for its augmented demand. There are numerous advantages that can compel any individual to say, “ I want to apply for a credit card.”
Some of such perks include discounts, cash backs, redeemable reward points, complimentary lounge access, etc. All these advantages are too captivating to be missed.
While on a hunt for the most suitable credit cards, several factors need to be acknowledged. There is a necessity to brood over the likely benefits of owning a particular credit card, the diverse charges, etc., and then choose one that ticks all the boxes.
There are credit cards specifically designed to enrich the online shopping experience, fuel credit cards that grant a waiver on fuel surcharges, and premium credit cards furnishing luxurious rewards but possessing an exorbitant annual or renewal or maintenance fee.
A free credit does not charge any joining or renewal fee. Once you get hold of the card, it stays with you for a lifetime at zero cost. Continue settling the credit card bill before the due date and get free from the worry of paying any extra penny.
Unless the bank deactivates the credit card on account of shambolic payment history, it will be owned by the cardholder for free, for the entire lifespan. If you desire to own a credit card without paying off some periodic charges, free credit cards are your best bet.
Let us look at some of the best life free credit cards issued by different banks and other financial institutions.
- Bajaj Finserv RBL Bank SuperCard: Another excellent choice is the Bajaj Finserv RBL Bank SuperCard. Some of its variants, such as the Platinum Choice First Year Free SuperCard and Platinum Plus First Year Free SuperCard have no joining fees incorporated. From the second year, the maintenance fee for these two cards amounts to about 499 INR and 999 INR excluding GST respectively. The fee is nominal, especially considering the numerous perks gained from the SuperCard, such as fuel surcharge waivers, free movie tickets, and welcome bonus to name a few.
- HSBC Visa Platinum Credit Card: The HSBC Visa Platinum Credit Card is a free credit card that caters to the needs of different categories of people. For the ones paying regular visits to restaurants in metropolitan cities, this credit card furnishes a 15% discount on dining bills. One can save up to 3000 INR on account of waivers on fuel surcharges.
- The card extends double the reward points on every 150 INR spent through it. Discounts on purchasing apparel, accessories, gadgets, etc. are also made available to the customers. To top everything off, introductory perks encompass 3 complimentary lounge access at either domestic or international lounges.
- Axis Insta Easy Credit Card: Though there’s no joining or renewal fee, the Axis Insta Easy Credit Card is of the secured type. This implies that cardholders need to deposit some amount as security. This collateral can range from anywhere between 20,000 INR and 25 lakh INR. The perks associated with this variant from Axis Bank are compelling enough to attract anyone, particularly those without a credit history. 1% waiver on fuel tax, 15% concession on dining at partner restaurants, etc. are some of its merits. Moreover, there’s no ceiling on the cash limit. One can withdraw cash up to 100% of the credit card limit.
- Kotak Fortune Gold Credit Card: One of the best accessible free credit cards, the Kotak Fortune Gold Credit Card can prove to be an excellent bet. There’s a high 50% ceiling on cash withdrawal of the available credit limit. Taxes on fuel and railway ticket purchases are also waived significantly. There’s also a provision of insurance worth 50,000 INR if there’s any case of misplacing or losing the credit card.
- ICICI Amazon Pay Credit Card: This free credit card is the stuff of dreams for all the shopaholics, and particularly Amazon’s loyal customers. Earn 3% cashback on shopping at the e-commerce giant, Amazon; and this provision of cashback increases by 2% if the buyer is an Amazon Prime member. While not shopping at Amazon, one can receive 1% cashback on other expenditures like dining bills, insurance payments, etc.
There are other free credit cards, and some of these have terms and conditions attached. For instance, the yearly fee of 1000 INR is waived off on the Citibank Rewards Domestic Credit Card if the card owner spends a minimum of Rs. 30,000 a year using a credit card. Similar is the case with IndianOil Citibank Platinum Credit Card.