5 Best Lifetime Free Credit Cards To Look Forward To In 2023

Dec 24, 2022 / Reading Time: Approx. 10 mins

Listen to 5 Best Lifetime Free Credit Cards To Look Forward To In 2023

00:00 00:00

Credit cards are a blessing for financial emergencies and big-ticket purchases if used smartly. It is a pre-eminent financial tool that opens a short-term line of credit and increases the purchasing power of the cardholder. You can pay for anything with your credit card as they are a solution provider.

With the alluring benefits available on credit cards, getting the first credit card is a huge milestone for many youngsters who tempt to get their first credit card as soon as they start working. Using a credit card for the first time can be intimidating due to the several technicalities that come right from searching for a suitable card.

Therefore, if you are looking for your first-ever credit card, it makes sense to get a basic credit card that is usually free of any joining and annual fees. This article will provide you with all the information that you need to know about the 5 best lifetime free credit cards to look forward to in 2023.

What is a lifetime free credit card?

As the name suggests, a lifetime free credit card is a completely free credit card that does not require you to pay any joining and/or annual fee for the maintenance of your card.

Almost all the leading banks and credit card companies provide at least one lifetime free credit card to attract the young workforce who are in the initial stage of their economic life cycle.

While most lifetime free credit cards offered by banks are basic cards, many banks offer their high-end cards without any annual fees to existing and new customers if they meet certain criteria, such as opening a specific type of bank account, high balance in the savings account, certain amount of investments made in the bank, etc.

However, in this article, we are going to see the 5 best lifetime free credit cards to look forward to in 2023 that are absolutely free for all customers without any hidden conditions.

1. Amazon Pay ICICI Bank Credit Card:

If you prefer shopping online through Amazon, Amazon Pay ICICI Bank Credit Card is the best option for you. It is possibly the best lifetime free co-branded credit card available in India. The card provides considerable cashback on every transaction done on Amazon through this credit card.

Here are the key features of the Amazon Pay ICICI Bank Credit Card:

  • No joining or annual maintenance charges

  • 5% cashback on Amazon spends to Prime members

  • 3% cashback on Amazon spends to non-prime customers

  • 2% cashback on 100+ Amazon Pay partner merchants

  • 2% cashback on bill payments, recharges, and adding money to an Amazon Pay account

  • 1% cashback on all other spends (except fuel and gold)

If you are an Amazon Prime member and prefer shopping online through Amazon to any other online platform, an Amazon Pay ICICI Credit Card is the best option for you. Besides, it offers 1% cashback on all other transactions, which not many lifetime free co-branded credit cards offer. So, even if you prefer offline shopping you can consider getting it.

If you are more of a Flipkart and Myntra buyer, a Flipkart Axis Bank Credit Card could be more beneficial to you. Apart from 5% cash back on Flipkart and Myntra spends, it also offers 4% cash back on ClearTrip, Swiggy, CureFit, PVR, Uber, and Tata Play.

Furthermore, on all other spends you get 1.5% cash back. However, take note that, unlike Amazon ICICI Bank Credit Card, it is not a lifetime free credit card. The Flipkart Axis Bank Credit Card comes with a joining fee of Rs 500 and from the next year onwards you will be charged an annual fee of Rs 500, which will be waived off on annual spends of Rs 2 lakhs.

5 Best Lifetime Free Credit Cards To Look Forward To In 2023
Image source: www.freepik.com
 

Join Now: PersonalFN is now on Telegram. Join FREE Today to get 'Daily Wealth Letter' and Exclusive Updates on Mutual Funds

 

2. HSBC Visa Platinum Credit Card:

The HSBC Visa Platinum Credit Card offers you unsurpassed offers and rewards, with instant recognition and exclusive privileges.

Here are the key features of the HSBC Visa Platinum Credit Card:

  • No joining or annual maintenance charges

  • Introductory benefits up to Rs 6,350 with 3 complimentary airport lounge access at domestic & international lounges or 3 AirDine (meal) vouchers

  • Air miles conversion on InterMiles, British Airways and Singapore Airlines

  • 5X rewards on subsequent purchases made after crossing the spend amount of Rs 4 lakhs with a max 15,000 accelerated reward points in an anniversary year

  • Up to Rs 3,000 annual savings on fuel surcharge

  • Amazon voucher of Rs 500 and Swiggy voucher of Rs 250 on a minimum spend of Rs 2,500 within 30 days of card issuance (introductory offer valid till 31 Dec 2022)

  • 3 complimentary airport lounge access at domestic & international lounges or 3 meal vouchers on a minimum spend of Rs 2,500 within 30 days of card issuance (introductory offer valid till 31 Dec 2022)

  • 10% cashback up to Rs 2,000 on a minimum spend of Rs 10,000 with 5 eligible transactions within 60 days of card issuance (introductory offer valid till 31 Dec 2022)

  • Buy-one-get-one-free movie tickets on Saturdays (Up to Rs 250)

  • 15% instant discount on select products in Lifestyle, Electronics and Luxury Categories on Tata CLiQ

  • Zero-liability for lost cards up to Rs 3 lakhs

  • Emergency card issuance service anywhere in the world within 3 days

  • Emergency cash at over 22,000 outlets globally

 

3. Kotak 811 #DreamDifferent Credit Card:

Kotak has rebranded its Aqua Gold Credit Card as Kotak 811 #DreamDifferent Credit Card.

If you have a poor credit score, your credit card application is likely to be rejected. However, with the Kotak 811 #DreamDifferent Credit Card, you can get a credit card without any credit or income check. All you need to do is link a new or existing Kotak Bank Fixed Deposit without any additional documents. You can decide your own credit limit against a Fixed Deposit, with a minimum credit limit of as low as Rs 10,000 if you are non-811 savings account customer and Rs 5,000 if you are an 811 savings account customer.

Here are the key features of the Kotak 811 #DreamDifferent Credit Card:

  • No joining or annual maintenance charges

  • 1X reward point for every Rs 100 spent offline and 2X reward points for every Rs 100 spent online (1 reward point = Rs 0.25)

  • Credit limit of up to 90% of the Fixed Deposit amount

  • 500 bonus reward points on activation of the card and Rs 5,000 spent in the first 45 days

  • Rs 750 cashback or 4 PVR movie tickets on spends of Rs 75,000 annually

  • Interest-free cash withdrawal of up to 90% of the FD amount

  • Stolen card liability cover of Rs 50,000 against fraudulent usage up to 7 days pre-reporting

  • Fuel surcharge waiver of 1% across all petrol pumps for transactions between Rs. 500 to Rs. 3000 (max. Rs. 3,500 per year)

  • Railway surcharge waiver of 1.8%  for transactions on irctc.co.in & 2.5% Indian railway booking counters (max Rs. 500 per year)

4. IDFC FIRST Wealth Credit Card:

If you love food, travel, and reward points, you cannot ignore IDFC First Wealth Credit Card. It is possibly the first premium card that is offered without any joining and annual fees. The more you spend the more reward points you earn. Moreover, the reward points are yours to keep forever.

Here are the key features of the IDFC FIRST Wealth Credit Card:

  • No joining or annual maintenance charges

  • 1X reward point for every Rs 100 spent; 1 reward point = Rs 0.25

  • 6X and 3X reward points on online and offline purchases respectively for spends up to Rs 30,000 per month

  • 10X reward points on incremental spends above Rs 30,000 per month

  • 10X reward points on spends done on your birthday

  • Unlimited reward points without any expiry

  • Welcome voucher worth Rs 500 on the spending of Rs 15,000 or more within the first 90 days

  • 'buy one and get one offer on movie tickets up to Rs 500 (valid twice a month)

  • 300+ merchant offers, up to 20% discount at 1500+ restaurants, up to 15% discount at 3000+

  • health and wellness outlets

  • 4 complimentary domestic and international airport lounge and spa visits per quarter

  • Discounts on Airport Fast Track immigration service at 450+ destinations worldwide

  • Access to over 900+ luxury hotels around the world

  • 2 complimentary Golf rounds per month for every Rs 20,000 of monthly statement spends

  • Air accident cover of Rs 1 crore

  • Personal accident cover of Rs 10 lakhs

  • Comprehensive travel insurance cover of USD 1200

  • Lost card liability cover of Rs 50,000

  • Complimentary roadside assistance worth Rs 1399

  • Fuel surcharge waiver of 1% across India up to Rs 400

  • Interest-free cash withdrawal

If you find this card interesting but not looking for exclusive travel benefits, you should also check out IDFC FIRST Select Credit Card which offers similar benefits.

5. Bank of Baroda Prime Credit Card:

Similar to the Kotak 811 #DreamDifferent Credit Card, the Bank of Baroda Prime Credit Card is also offered against a Fixed Deposit. So, it can be a good choice for individuals not eligible for a regular credit card that requires income documents.

Here are the key features of the Bank of Baroda Prime Credit Card:

  • No joining or annual maintenance charges

  • The card is offered against a fixed deposit of Rs.15,000 or more without any proof of income

  • 1% cashback every time you make a transaction using the credit card

  • 1% fuel surcharge waiver for purchases between Rs 400 to Rs 5,000, with a maximum discount of Rs 250

  • 4 rewards point ( 1 reward point = Rs 0.25) on every Rs.100 spent

  • Multiple options to redeem the reward points

  • Lost card liability cover

  • Personal accident cover

To conclude:

Take note that these are the best lifetime free credit cards to look forward to in 2023. These could be ideal for first-time credit card users or existing credit card users who hold specific-purpose or co-branded credit cards and looking for a primary credit card that can earn them consistent rewards, irrespective of the spending category. For regular credit card users who are looking for premium credit cards that offer the most high-end features and benefits, it may not make sense to opt for a lifetime free credit card.

With many banks offering lifetime free credit cards with solid features, it is important not to get lured by these benefits and choose only 1 to 3 credit cards, based on your needs and suitability to your lifestyle. Recklessly using multiple credit cards can make you spend more than your repayment capacity, putting you in a financially challenging situation. However, with the smart use of credit cards and a robust financial plan, you can comfortably achieve your financial goals.

 

Warm Regards,
Ketki Jadhav
Content Writer



Add Comments