There are no annual or membership fees with a lifetime free credit card. Free credit cards are designed for people who are just starting their careers or have never had a credit card before.
Those who would prefer not to pay any card fees at any point in time also benefit from lifetime free credit cards. There are a few quality credit cards in this category, but the majority merely offer the bare minimum.
How to Get a Free Credit Card?
Knowing which credit card you need
When choosing a credit card, it’s important to consider how you want to use it. For frequent fliers, a “travel credit card” may be a good choice because it offers perks like lower hotel rates and access to airport lounges.
Credit cards can be broken down into categories based on their intended use. For example, an “entertainment” credit card might give discounts on movie tickets, while a “business” credit card might provide the option of advance credit to the cardholder’s business.
With no annual fees, a free credit card for life might be a great perk for individuals who keep their finances in order and carry a little debt.
There are a wide variety of shopping credit cards to pick from if you are interested in perks like cashback and rewards. Since there are many alternatives, the first order of business in applying for a free credit card is settling on the type of card you intend to use.
Make sure you qualify for a credit card before applying for one
Getting a free credit card today is simpler than ever, and most financial institutions have enticing promotions to draw in new cardholders. Before applying for a credit card, you should make sure you are of legal age and have sufficient income to cover the annual fee. People in India can get a credit card from most banks if they are between the ages of 21 and 65.
You need to be earning a regular wage to qualify for a free credit card, and the type of card you can get depends on your income bracket. You can get a credit card even if you don’t have a regular paycheck, and many financial institutions actively seek out self-employed people who can benefit from their services.
Several financial institutions will issue credit cards secured by your fixed deposit balances.
One can also get a supplementary credit card that can be linked to an existing credit card in the family. No minimum age requirement or proof of income is required for an additional cardholder. You only need to be 18 years old and an Indian citizen or a non-resident Indian (NRI).
Prepare the necessary paperwork
Before applying for a free credit card, you should first make sure you meet the criteria for receiving one.
Every credit card application will require these files.
- Tax filings
- Bank statements
Some more acceptable forms of identification are voter ID cards, driver’s licenses, and pension books.
A valid driver’s license, ration card, or passport is acceptable identification for proving residency. You may also require a passport photo and a photocopy of your PAN card.
Keep in mind that you might not always be asked to provide documents such as a PAN card, a copy of your passport, a passport photo, or proof of your current address. This varies across financial institutions and depends on whether or not the bank has received your Know Your Customer (KYC) paperwork in connection with your savings account.
Completing the application form
Selecting a bank is the next step after settling on a card type and gathering the necessary documentation. You can apply for a credit card at the majority of the major Indian banks even if you don’t have an account there.
A ‘credit cards’ section will be on the bank’s official website. By entering their existing customer ID and password into the site, clients can apply for a credit card online.
Most financial institutions need new customers to provide personal information after they visit the “credit cards” page. A bank representative will contact the consumer when they enter those details to submit KYC and obtain help with the credit card application procedure.
You can always stroll up to the nearest branch if you do not wish to apply for a credit card online. However, given that you live in a technological society, you can also conduct credit card bill payments online. Credit cards come in many varieties, from those designed specifically for travellers to those targeted towards students.
Pick a mode of payment
When applying for a free credit card, it’s important to consider how you’d like to pay your bills. Most financial institutions still permit consumers to physically visit a branch and pay with cash for credit card bills. A nominal service charge might be tacked on in such a scenario.
The ATMs typically have drop boxes where you can deposit a check along with your credit card information. A payment made by check will be cleared in three business days, so be sure to send your money at least that much time in advance.
You may usually pay most lenders with your credit card through the NEFT function of any bank.
When making an online NEFT payment, the payee account number is where you digitally enter your credit card information. Unlike other payment methods, which may take up to two business days to be paid, payments made through this method are credited the same business day they are received if they are made during regular business hours.
While applying for a free credit card, knowing exactly how you’ll pay your bills might save you time and hassle later on.
Benefits of a Free Credit Card
If you can spend with a tap of your card, there’s no reason to lug about a big wad of cash. Presenting plastic in the form of a credit card instead of fiddling with cash or checks is a huge time saver. If you have a digital wallet, you can attach your card to it and use it to make payments without ever taking it out of your wallet.
Interest fees are waived when using a credit card for the first few billing cycles after making a transaction (perhaps as long as 50 days). The term “buy now, pay later” could not be more appropriate.
To accumulate rewards, use your free credit card for all of your purchases. These points can be redeemed for intriguing merchandise, gift cards, and even free airline tickets.
Discounts and Cashbacks
Your fee credit card grants you access to a wide variety of cashback offers and reward points, particularly at a curated collection of offline and online retailers, including waiving fuel surcharge fees and exclusive online discounts.
Keep in mind that different credit cards from different banks provide different perks. The credit card comes with a selection of promotions from which you may pick to gain cashback or instant discounts. There is little time between completing the application and receiving your credit card in the mail.