Is "Lifetime Free" Credit Card Really Free?

You must have heard of a bank or a credit card company offering a lifetime free credit card. This usually means that they have waived off the “annual fee” charged on it. This is exactly why it is also called a “zero annual fee credit card.”

A credit card annual fee is a cost you will be charged every year from your account. You pay this fee to keep using the card.

What is a Life Time Free Credit card?

The phrase “Lifetime free credit card” sounds too good to be true, doesn’t it? But is this claim legit? Let’s find out if it is really a “no strings attached” benefit.

When you avail a credit card, you may have to pay a joining or annual fees on it. However, there are many financial institutions who offer a credit card without such charges. Those cards are known as free lifetime credit cards. 

Two Types Of Life Time Free Credit Cards

Credit Cards With A “Minimum Spend In A Year” Rule

The annual fees on these cards are waived off if you spend a minimum amount in a year that is specified by your card issuer.

No Condition Attached Lifetime Free Credit Card.

In these cards, there is no minimum amount that you need to spend and no annual fees would be charged.

6 Charges You Should Look Out For Before Getting A Credit Card

1. Interest Rate
2. Joining Fee
3. Cash Advance
4. Transaction Fee
5. Late Payment Charges
6. Overlimit Charges
7. Card Replacement Fee

5 Benefits You Can Get Out Of A Lifetime Free Credit Card

1. As we saw earlier, you don’t need to pay annual fees. You can buy anything you want and pay later without extra charges as credit cards provide up to 60 days of the interest-free period.

2. Some credit cards give reward points for every transaction.

3. These can be redeemed to get exciting offers.

4. Some credit cards also offer a certain percentage of your spends as cashbacks on every transaction. It also improves your credit score when you pay back on time.

5. Many card providers offer attractive insurance, travel and shopping benefits.

3 Tips To Help You Choose The Best Credit Card

Don’t Believe The Sales People Blindly

There are instances when sales people sell credit cards over cold calls and lie about the card being lifetime free. Never take a credit card without understanding the terms & conditions clearly. Because If you refuse to pay the extra charges later, it will negatively impact your credit score.

Choose A Card On Which The Reward Points Never Expire

This will ensure that you can spend your reward points without worrying about them expiring. Ensure that there are no fees to redeem your reward points. Ideally, you should never choose a credit card which requires you to pay extra charges to redeem reward points you have earned unless the rewards are worth are worth spending the extra money on.

2 Things You Should Know About Lifetime-Free Credit Cards

A Lifetime Free Credit Card Might Start Charging An Annual Fee In The Future.

After mid-2021, HDFC started charging annual fees on its MoneyBack credit card which used to be a lifetime free credit card until then.

The Lifetime Free Benefit Of Your Credit Card Might Not Be Applicable When You Upgrade The Card.

When your credit score increases, you might want your bank to upgrade your lifetime free credit card for a higher limit and more privileges. Make sure you confirm with your bank that the upgraded card is also lifetime free.

Also Read: What is the Credit Limit? How does it work? 

Check Eligibility and Available for free Credit Online 

You have to meet your credit provider’s eligibility criteria for availing a free credit card. But what’s more important than that is to inquire whether the financial institution provides a lifetime free credit card in the first place. 

  • Age: The borrower needs to be at least 18 years old or above. 
  • Annual Salary: While this completely depends on the requirement of the credit provider, you need a minimum monthly salary of Rs. 25,000. 
  • Nationality: You need to be an Indian with a valid PAN or Aadhaar card.

Documents Required For Lifetime Free Credit Cards 

You need to submit the required documents and information of the credit card provider to complete your application. 

Here are some documents that you should keep handy to expedite your credit card application process.

 Identity Proof 

This includes your PAN, Aadhaar card, Passport, Driver’s License, etc. to verify your identity.

 Address Proof

This includes your KYC documents like Aadhaar card, Passport, Utility bills, etc. to complete your KYC process. 

 Income Proof

You may have to provide your income proof like your bank statements or salary slip. Credit card providers often ask this to check your capacity to pay your credit card bills. 

How to Apply for a No Annual Fee Credit Cards Online? 

The procedure of applying for a life time free credit card depends on the credit card provider you’re choosing. In today’s date, the online application process with no paperwork has made credit even more accessible. To apply for a credit card, you can simply visit the credit provider’s website or complete the application on their portal/app. 


Lifetime free credit cards may be an attractive option as you could avoid annual fees, but it’s important to compare different options, read the fine print and understand the terms and conditions before signing up.

Frequently Asked Questions

What Is A Free For Life Credit Card?

A free for life credit card is when you don’t have to pay any kind of joining or annual fees on your credit card. 

Is It Free Of Charge To Get A Credit Card?

While you may have to pay an annual or joining fees on your credit card, there are many providers who offer you one without any charges. This is also known as lifetime free credit cards. 

What Are The Hidden Charges In Lifetime Free Credit Cards?

There are no hidden charges on lifetime free credit cards. 

What Will Happen If I Use A Lifetime Free Credit Card And Do Not Clear The Bill On Time?

If you use a lifetime free credit card and do not clear the bill on time, you may have to pay a late penalty and also see a negative impact on your credit score. 

Is It Worth It To Pay An Annual Fee For A Credit Card?

While paying an annual fee for a credit card can be worth it, there are many providers who offer lifetime free credit cards without such charges. 

Who Should Apply For A No Annual Fee Credit Card?

Any eligible borrower who has a good credit score and is looking for a credit card without any additional charges like annual fees or joining fee can apply for this. 

Can I Use My No Annual Fee Credit Card For Foreign Transactions?

If you want to make foreign transactions using a no annual fee credit card, you will have to check with your credit card provider if they offer that facility. 

How Can You Improve Your Credit Score By Using A Credit Card?

Simply paying your credit card bills on time can help you improve your credit score significantly. 

Can I Apply For A 'no Annual Fee' Credit Card Online?

Yes, you can! There are many credit card providers who offer life time free credit cards online. Make sure you choose a reputed and trusted source for the same. 


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