Lifetime free credit card is for a select few: How to get one for yourself

Such cards do not charge annual or renewal fees for the entire duration of their validity

As a credit card user, you're likely familiar with annual and renewal fees. Typically, banks automatically add the credit card renewal fee to the previous month's billing cycle, making it a recurring expense. A more attractive option is obtaining a lifetime free credit card.

What are lifetime free credit cards?

Lifetime-free credit cards do not charge annual or renewal fees for the entire duration of their validity. It means that as long as a cardholder maintains her account in good standing, she can use the card without incurring any yearly charges. Traditional credit cards have annual fees ranging from a few hundred rupees to several thousand.

Are lifetime free credit cards really free?

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

Obtaining a lifetime free credit card

While lifetime free credit cards are increasingly common, they are not automatically available to everyone. Banks and financial institutions typically have certain eligibility criteria that applicants must meet. Here are some steps to increase your chances of obtaining a lifetime free credit card:  

Maintain a good credit score: A credit score of 750 or above is generally considered excellent and can improve your chances of approval.

Have a stable income: Most issuers require a minimum annual income, which varies depending on the card.

Research and compare offers: Different banks offer various lifetime free cards with distinct features. Compare options to find the best fit for your spending habits and lifestyle.

Look for promotional offers: Some banks offer lifetime free upgrades on existing cards or waive off fees for new applicants during special promotions.

Consider your relationship with the bank: Having an account or investment with a bank can sometimes make it easier to qualify for their credit card offerings.

Apply: Many banks offer a streamlined online application process, making it convenient to apply for a lifetime free credit card.
 

Several major banks and financial institutions offer lifetime free credit cards. Some popular options include:  

Amazon Pay ICICI credit card

IDFC FIRST Select credit card

HSBC Visa Platinum credit card

IDFC FIRST Millennia credit card

ICICI Platinum Chip credit card

AU LIT credit card

IndusInd Bank Platinum credit card