Among the various types of credit cards, there is a category of lifetime free credit cards. Going through different types you must wonder what is a lifetime free credit card? Do I get a free credit card with exactly the same benefits as other paid credit cards do? These credit cards basically do not have joining and renewal fees. These are great for beginners as you do not have to worry about paying the annual fee every year. They are completely free and one can easily avail of them. There is a whole list of best lifetime free credit cards that you can consider looking at and some of them are Amazon Pay ICICI Bank credit card, Flipkart Axis Bank Credit Card, IDFC First Select credit card, Kotak 811 #DreamDifferent credit card, HSBC cashback credit card, etc. 

 

What is a lifetime free credit card?

As the name suggests you can avail of these credit cards at zero joining fees and you do not have to pay a renewal membership fee either as well for the rest of your life. You can enjoy all the benefits of a credit card with them like shopping benefits, travel benefits, insurance benefits, entertainment benefits, and so on.

 

How does a lifetime free credit card work?

These credit cards work the same as any other normal credit cards do. All you need to do is use this credit card for those transactions on which you get to earn rewards in return. You can use it for online transactions as well as for offline transactions. Every month you get a bill which you are required to pay on time and also keep the credit utilization ratio low in order to build a good credit score.

 

Advantages of Lifetime free credit cards:

  • You do not have to pay any joining and annual fees on these credit cards.
  • You get to enjoy rewards in the form of reward points or cash back depending on the credit card rewards program.
  • You can enjoy shopping, movie and dining, and travel benefits also on these credit cards.
  • You can easily start your credit card journey with them.
  • You can easily upgrade from this credit card.
  • You can build a good credit history with them.

Disadvantages of lifetime free credit cards?

  • You get limited rewards on these credit cards as compared to other credit cards.
  • If you do not pay the dues then also there is a high chance of you falling into the debt trap. 
  • You get a low credit limit on these credit cards as compared to other credit cards.

 

Bottom Line:

To summarise, no doubt lifetime free credit cards are worth consideration. They are the right choice for the first-time credit card appliers to go with as you will learn how a credit card works and they will help you in learning how to manage your finances. Whether you apply for a lifetime free credit card or for any other credit card you must know how to use a credit card wisely to maximize its benefits. Keep the credit card outstandings clear and have a low credit utilization ratio to maintain a good standing account.

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