Credit card: No annual fee credit cards are economical options for managing finances, offering rewards and benefits without yearly charges. By comparing features and rates, consumers can select cards that best fit their financial needs while building credit.
Looking for a budget-friendly credit card? Credit cards with no annual fees are a straightforward and cost-effective way to manage your finances. There are plenty of great options available that offer useful benefits without incurring additional costs. In today’s financial world, credit cards have become essential tools for managing expenses and building credit history.
What are no annual fee credit cards?
No annual fee credit cards are exactly what they sound like: they don’t charge you a yearly fee. Unlike standard cards that require an annual fee, these cards provide similar benefits (such as rewards, purchase protection, and balance transfers) but without the recurring charge.
Features of no annual fee credit cards
- Lifetime free: Users do not need to pay any annual fee to enjoy the card’s services.
- Cost savings: Some cards waive surcharges on fuel transactions.
- Variety of privileges: Enjoy access to airport lounges, discounts on shopping, dining, food delivery, movie tickets, and more.
- Welcome benefits: Many cards offer bonus reward points, vouchers, OTT subscriptions, and additional perks upon sign-up.
- Minimal income requirements: The qualifying conditions are generally straightforward, ensuring quick approval.
Read More: LIC Mutual Fund reduces daily SIP amount to Rs 100. Check details
How to apply for a no annual fee credit card
Online application
- Visit the bank’s website: Go to the official website of your bank.
- Fill the application form: Provide the necessary personal details.
- Submit required documents: Upload documents for verification.
- Approval: The bank will verify your details and documents before approving your application.
Offline application
- Visit the bank branch: Go to the official branch of your bank.
- Fill the application form: Provide necessary personal details.
- Submit required documents: Hand in documents for verification.
- Approval: The bank will review your details and documents before approving your application.
Best no annual fee credit cards 2024
1. RBL Bank BankBazaar SaveMax Credit Card
- Xpress cash: Instant funds transfer into your account.
- Rewards: 10% cashback (up to ₹100 per month per store) on BookMyShow and Zomato transactions.
- EMI infinity pass: Discounts on the Split n Pay Fee.
- Management app: Manage your card, pay utility bills, access offers, and apply for loans through the RBL Bank MyCard App.
Read More: HDFC Vs SBI Vs ICICI Vs LIC Vs AXIS: These NPS fund managers’ 5-year returns compared
2. Amazon Pay ICICI Credit Card
- Rewards: Unlimited, with no expiration.
- Redeem: Use your credits for over 100 million products at Amazon and other merchants.
- No-cost EMI: Available for three or six months on Amazon purchases.
3. HSBC VISA Platinum Credit Card
- Cashback: Get ₹500 cashback for spending at least ₹5,000 in the first 30 days through the HSBC India Mobile App.
- Fuel savings: Annual savings of up to ₹3,000 on gasoline fees.
- Flight miles: Convert reward points into miles with various airlines.
4. ICICI Bank Platinum Chip Credit Card
- Rewards: Earn two reward points for every ₹100 spent at retail stores (excluding petrol).
- Fuel waiver: 1% surcharge waiver (up to ₹4,000) at HPCL pumps.
- Secure payments: Quick and secure payment technology.
5. IDFC First Select Credit Card
- Airport lounge access: Free access to domestic airport lounges.
- Travel benefits: Low forex markup and trip cancellation coverage.
- Movie tickets: Buy-one-get-one movie tickets worth up to ₹125 via Paytm.
- Reward points: Earn up to 10X rewards for incremental monthly spending and 100% cashback on your first four transactions (up to ₹200).
Conclusion
The world of no annual fee credit cards offers a wide variety of options for individuals looking for cost-effective and rewarding financial tools. They can be excellent choices for those wanting to save money while building credit.
When choosing a no annual fee credit card, consider rewards programs, interest rates, credit limits, and additional features. By carefully examining these characteristics and comparing different options, consumers can find a card that aligns with their financial goals and provides the best value.
