How To Get Credit Cards With No Annual Fee In India?

Credit cards are convenient tools to overcome a temporary financial crunch. Make convenient online payments or swipe the card when receiving a delivery. Cardholders have quick access to instant money and the option to repay it in easy EMIs. Interest is charged only if the EMI gets delayed. 

While searching for the best credit card in India, every individual prefers a lifetime free credit card that does not impose the usual annual fee. There is no burden of the fixed annual fee with these cards. However, the bank may charge a small amount of money for its services. 

How to get credit cards with no annual fee in India

Credit cards are to be used smartly to reap many benefits. What type of charges an individual needs to pay for a credit card depends on its use. 

If an individual uses a credit card only for online and offline credit purchases and settles the bills before the due date, the credit card is free. 

There are various common charges applied to a credit card. The annual fee is one of them.

  • Though most credit cards involve the annual charge, it can be waived off if you use it to achieve minimum spending with regular credit card transactions. 
  • Banks may offer a lifetime free credit card to their creditworthy customers, which means no joining or annual fees. 
  • Many banks do not charge an annual fee or joining fee at all on their low-fee cards. You can apply for these specialised cards that do not charge an annual fee.

You can go with a feasible option in your case. Banks may levy some conditions and can charge on credit cards for add-on facility, a hard copy of a statement, a draft/ fund transfer/ATM cash withdrawal/auto-debit, or a cash advance. Technically, there will be no annual fee.

While looking for credit cards with no annual fee, you should analyse different cards to get the best offers.

Credit card features to get best lifetime free credit card

  • Waiving off Various Charge 

There are many other charges levied on credit cards. Look for a card issuer that has waived off fees against charge slip requests, machine surcharge at ATMs, balance enquiry charges at other Bank ATMs, outstation cheque processing fee, duplicate statement requests, web pay service, and fee fuel surcharge. 

  • Quicker Balance Transfer

It will be best if you can easily transfer the balance of one credit card to that of another with just a single call. Customers opt for Credit Card Balance Transfer when they have to pay higher interest for the outstanding on one credit card. The cardholder may need to pay a minimal processing fee for the same.

  • Shield against Fraud/Theft

Reputed banks can offer a cover of up to Rs.50,000 against any fraudulent activity against your stolen credit card. The cardholder needs to immediately call the customer care centre and get the card deactivated to prevent fraud payments and register a claim with the insurance company.

  • Low-interest Rate on the Outstanding Balance 

Interest on the outstanding balance can be as low as 3.5% per month with the best credit cards in India. 

  • Great Discount and Offers 

Best credit cards can offer a multitude of offers and rewards. On meeting milestones, credit cardholders can get additional incentives, like free PVR tickets and additional benefits like waivers on railway booking transactions. They can also redeem a few benefits in the form of cashbacks.

  • The facility of Foreign Currency Markup at a Low Cost

If an account holder spends in a foreign currency, it brings a foreign currency markup fee. It is as low as 3.5%, with the best credit cards available at no annual cost.

Credit Card Eligibility Criteria

The eligibility criteria for a credit card vary for different options. General eligibility criteria are as follows:

  • Should be a resident of India.
  • His/her age should be between 21 and 65 years. 
  • As a standard income requirement, an individual’s minimum income should be Rs. 3 Lakhs per annum.

How to Apply for the Best Free Credit Card

The best way to apply for a credit card is online by following these easy steps:

  1. Explore the official website of the bank. Go to the credit card section>credit card products>select a free credit card option.
  2. Click on the ‘Apply Now’ option to access the credit card application. 
  3. Fill in all the relevant details and submit.
  4. If an individual meets the eligibility criteria of a bank for the credit card facility, it will be approved quickly. Make sure you check your eligibility before starting the application process.

The Bottom Line 

Thus, a credit card offering numerous benefits is certainly a must-have in your wallet, and you can get it without paying a joining fee or an annual fee. Keep in mind the above-mentioned credit card features to have the best credit card without an annual fee.