People want to get the most benefits possible from their credit cards with the least amount of fees. Some credit cards have absolutely no annual fees. They are credit cards that are free for life. They may charge a price for supplementary services, such as a paper copy of the bill, but there are no yearly or enrollment costs. There are other credit cards that are free for life; however, you must spend a specific amount each year to qualify for the yearly membership fee waiver.
- A lifetime free credit card is what it sounds like:
Many credit cards impose a fee on their users just to use the card. A credit card having zero annual fees or other costs is one that is lifetime free. They are also referred to as “zero-fee” credit cards because you are not assessed any fees for using the card annually.
Have you heard about the 5% Credit Card by Fi.Money? It’s an incredible co-branded credit card offered by Fi.Money and Federal Bank that rewards you with every purchase you make. Based on your spending habits, you can earn up to 5X rewards when you spend on India’s top 21 brands.
These cards can be very helpful, especially if you want to raise your credit score. Additionally, you wouldn’t have to worry about paying annual fees and then not receiving many of the benefits given by the card issuer.
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Advantages of obtaining a free credit card for life:
You can profit from the following things when you have a lifetime free credit card:
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No initiation or yearly fees
Not having to pay an annual fee to use a lifetime-free credit card is one of its main advantages. A credit card’s joining fee and annual fee are the amounts you must pay in order to use it, respectively. A lifetime free credit card’s USP, however, is that none of these fees applies to them. This can help you avoid paying a lot of unnecessary charges.
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Easy eligibility requirements and quick approval
The majority of free credit cards have low-income requirements and generally simple eligibility criteria. As a result, you may anticipate that your application will be approved quickly and that the card will be issued.
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Rewards scheme
Nearly all lifetime free credit cards now have a reward point system in place. With this, based on your transaction amount, you receive a particular number of points.
The accumulated points can be later on be exchanged for gift cards or e-vouchers that can be used to make purchases at a variety of establishments. You accrue additional reward points as you conduct more transactions. It turns into a situation where everyone benefits.
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High withdrawal threshold
A useful feature of credit cards is cash withdrawal. In an emergency, you can easily get funds thanks to it. The typical cash withdrawal cap is roughly in the neighborhood of 60% of the card’s overall credit limit. However, a lot of banks that provide lifetime free credit cards let you withdraw more money from them. This can also be a maximum of 100% of the credit limit.
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Lifestyle benefits
Numerous credit cards without an annual fee also provide additional perks, such as free movie tickets, access to airport lounges, discounts on eating and food delivery, online shopping, and discounts on dining. To get the card that best fits your lifestyle, it is advisable to compare these perks.
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Discounts, cashback, and other promotions
Aside from the rewards programme, lifetime free credit cards offer a variety of intriguing advantages. Many large credit card issuers provide cash back for making purchases from a list of approved retailers. When you place an order, this could result in excellent savings.
Additionally, if you use your lifetime free credit card for particular transactions, you may be eligible for savings. For instance, depending on the relationship between the service provider and the retailer, you might be eligible for a discount when using your card to make a one-time purchase of an expensive electronic item.
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Things to consider before applying for a lifetime free credit card:
The following considerations might be beneficial to bear in mind when applying for a lifetime free credit card:
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Weigh your choices
Numerous businesses in the market provide lifetime free credit cards. You must carefully compare cards because each merchant highlights distinct aspects of its cards. Consider all the features and benefits offered, then choose the card that offers you the best discounts.
There are multiple websites that display a comparison of the top cards. One can as well visit the website of a specific service provider to learn more about all the advantages.
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Verify any additional fees
Even though the major benefit of a lifetime free credit card is that there are no fees, it’s crucial to look for any potential hidden costs. Read all applicable terms and conditions carefully for this. You’ll be able to avoid any unforeseen fees in the future thanks to it.
Check each bank’s eligibility conditions.
Despite the fact that we have provided general eligibility requirements, they may vary from one credit card to another. It is essential that you confirm your eligibility for a certain lifetime free credit card before applying. Your focus will be confined to only those cards that you can easily choose from, which will assist you to focus and help you save time.
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Conclusion
In addition to making complete use of all the services it offers, a lifetime free credit card can be a terrific financial instrument for steadily raising your credit score. It has no starting or yearly fees.
With Fi.Money, you’ll have access to lounge facilities, low forex fees, and instant issuance of the credit card. The card also provides customised reminders and spend insights to help a keep track of your spending. And, as a welcome offer, you’ll receive exclusive vouchers from top brands worth ₹5,000! It’s a no-brainer to check it out.
This makes sure that the benefits you receive won’t be less than what you spend on yearly fees. Such a card is offered by many service providers, so be sure to weigh your options and choose the finest one thoroughly!
