What does lifetime free credit card means?
Lifetime free credit cards have zero joining and annual membership charges. I personally hold two lifetime free cards. One of them has been with me for over 3 years.
Interestingly, the same card usually carries an annual fee of ₹1,499, but I got mine under a special limited-period offer where the bank waived all charges for select customers.
If you want to know my personal experience, here are some exciting things for you:
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Exciting Offers: I get discounts on e-commerce platforms, as there are no restrictions on discounts for using a free credit card. However, this type of credit card offers low reward points, and other benefits are not very exciting.
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Interest-Free Period: I get a 50-day interest-free period even with my free credit cards. I pay my bills, buy groceries, make offline purchases, and repay the amount by the due date.
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Credit Score Building: My first lifetime free credit card turned out to be a very helpful tool. After consistently paying my bills on time, I noticed a significant improvement in my credit score. That is the real advantage, even without paying any joining or annual fees, a free credit card can still help you build credit history and improve your creditworthiness.
But, do not think that every fee is zero on your lifetime free credit card. Just the membership fee is zero.
Other charges, such as late payment, EMI processing charges, finance charges, etc, still apply. So, read all the terms and conditions carefully before applying.
A lifetime free credit card is a financial product that allows cardholders to enjoy the benefits of credit without incurring annual fees for the entire duration of their ownership. Unlike traditional credit cards, which often come with annual charges, these cards are designed to attract customers by offering a no-cost maintenance option.
A lifetime free credit card provides various features such as reward points, cashback offers, and discounts on purchases. They can be particularly appealing to individuals who want to build their credit history without the burden of recurring fees. However, it’s essential to read the terms and conditions carefully, as some cards may require meeting specific spending thresholds or may have limited rewards compared to fee-based options.
In addition to being cost-effective, lifetime free credit cards can serve as an excellent tool for managing finances responsibly. By using them wisely and making timely payments, cardholders can improve their credit scores while enjoying perks that enhance their shopping experience.