What are Lifetime Free Credit Cards & Where to get them?
February 19, 2022
What is Joining Fee on Credit Cards?
As the term suggests, the Joining Fee is what you pay when your application form for a card is accepted. It varies from bank to bank and on the type of card applied for. Typically joining fees range from Rs. 100 to Rs. 10,000.
What is Annual Fee on Credit Cards?
Most of good credit cards have annual fee on them. Cards that usually have an annual fee usually provide some extra benefit. Because an annual fee increases the cost of having a credit card, any benefit you're getting from your credit card should exceed that cost. For example, if your rewards credit card has an annual fee, the rewards you earn should exceed the amount you are paying to keep the card open. Otherwise, you are losing money.
What is life time free credit cards?
A lifetime free credit card, also known as a ‘no annual fee’ credit card or a ‘zero annual fee’ credit card, offers the unique benefit of wavering any joining fee or annual fee. There are many cards which waive of annual fees when you do the stated minimal annual spend, while some banks do it for their premium customers based on their Fixed Deposit or other relationship with the bank. Very rarely bank launch limited time offers on life time free credit cards on some of their credit cards. This is for the bank to gain market share, but such instances are rare. For example, Axis Bank is offering life time free credit cards for 4 of their cards on RUSSH App platform which is valid till end of March 2022. Such offers are generally must grab offers.