In the era of digitization, most of the individuals who are employed have credit card as this will end the hassle of carrying cash every time one has to visit a shop for purchasing. The feasibility of the credit card has made the so-called plastic money very popular amongst the young urban population in India.
Just by swiping the card, the holder of the card can purchase anything from groceries to furniture, pay utility bills, recharge mobile, withdraw money from ATMs, pay over the phone, carry out balance transfer activities, and the list goes on.
Almost all the credit cards will have the joining fee, a charge which has to be borne by the applicant and has to be paid during securing the card for the first time and thereafter has to pay an annual fee on the card on a yearly basis during its usage. But the issue of getting a notification to pay the annual fee every year will discourage the cardholders to go for the credit card. Hence some of the banks are providing credit cards which are life time free and the cardholder need not have to pay any of the annual fee charges for continuing with the said credit card.
Let's take a sneak peak into the 4 Best Lifetime Free Credit Cards which are exclusively available in India.
SBI Unnati Credit Card
The country's largest public-sector lender - State Bank of India (SBI), has rolled out the SBI Unnati Credit Card which is a Zero Fee Card which means, the applicant need not have to pay any joining fee and there are no annual fees for the first 4 years of its usage. This card is issued with a lien on the cardholders fixed deposit with the SBI to the tune of Rs 25,000 or more.
Features of SBI Unnati Credit Card
• The cardholder can earn 1 Reward Point for every Rs 100 spends.
• The accumulated credit card reward points can be used to redeem against a wide range of gifts from the reward catalogue.
• Earn Rs 500 as cashback within 15 days of achieving annual spends of Rs 50,000 or more as milestone rewards.
• The cardholder can get 1% fuel surcharge waiver for each of the transaction ranging between Rs 500 to Rs 3000 on the usage of the card at any of the fuel filling stations in India.
• The card can be used to make payments across any of the outlets in India which accept MasterCard and Visa.
• The card carries a special feature of contactless advantage and purchases can be made by simply waving the card at a secure reader to complete the transaction.
• You can pay all the utility bills be it electricity, mobile, telephone, water using the Easy Bill Pay facility which is available on the card.
ICICI Instant Platinum Credit Card
India's largest private sector lender - ICICI Bank has launched ICICI Instant Platinum Credit Card for its customers who have a valid fixed deposit with them.
This card which is an assured, free card, is issued against selected fixed deposits in ICICI Bank and it comes with a Zero Annual Fee. To secure this card, there is no need to submit any income documents.
Features of ICICI Instant Platinum Credit Card
•Earn 2 PAYBACK points on every Rs 100 spends made using the card and get 1 PAYBACK point on every Rs 100 spent on insurance and utility categories.
• The card has international validity and the user can get global emergency assistance and card replacement service is also available.
• The interest rate charged on this card is low and it stands at 2.49% per month. If the cardholder, makes a full payment against the outstanding amount, then no interest will be charged on the card. (Interest will be charged only if the cardholder opts to make a part payment or no payments are made on the card)
• Earn VISA offers on dining at restaurants, luxury hotels, spas, lifestyle stores and so on.
• Get exclusive dining offers through ICICI Bank Culinary Treats Programme and get the finest of the dining experiences at equally exciting savings.
Axis Bank Insta Easy Credit Card
The Axis Bank Insta Easy Credit Card comes with a unique feature and is a chip and pin enabled credit card which puts the banking experience of the cardholder at ease as the card is issued against one's Fixed Deposit with Axis Bank.
Features of Axis Bank Insta Easy Credit Card
• Earn 50 Day Free Credit on the card
• Withdraw cash up to 100% of the credit limit from the first day of card issue.
• Get a flexible credit limit of your choice of up to a maximum of 80% of the fixed deposits principal value.
• Get Axis Bank's Dining Delights offer of a minimum 15% off at selected partner restaurants in India.
• Easily convert your purchases to EMI if any purchase transaction is over and above Rs 2,500.
• The card comes with a special Platinum Chip which provides clear authentication of the credit payments along with easy fraud detection and the chip cannot be duplicated making it safer for the cardholder to conduct all the transactions securely.
Indian Oil Citibank Platinum Credit Card
This credit card which is offered by the Citibank comes up with an accelerated reward on fuel spends and is rolled out in collaboration with the Indian Oil Corporation (IOCL). It is a Zero Annual Credit Card and the cardholder need not have to pay any kind of annual fee throughout its usage.
Features of the Indian Oil Citibank Platinum Credit Card
• Earn Rs 250 worth of free fuel on first spending using the card.
• Get full waiver of 2.5% fuel surcharge at any of the Indian Oil outlets in India.
• Save more than 5% on fuel at the Indian Oil fuel filling stations in a year.
• Earn 4 Turbo Points for every spends of Rs 150 spent to fill the fuel.
• Get an instant loan on the credit card right at the go.
• Turn big purchases into small payments by converting them to EMI.
About the Author
Archana is a content writer at GoodReturns. She has been writing articles related to investment planning and personal finance for more than two years.