List of Best Credit Cards with No Annual Charges
While a credit card is one of the amazing financial instruments offering you rewards and subsequently helps alleviate financial anxiety, the instrument generally requires you to maintain an annual charge to keep your credit card account status active, as the concerned issuer deducts the charge automatically on the sign-up anniversary. Usually, card users dislike such expenses, however, zero annual charge credit card helps bridge the gap between bank offerings and expectations.
So, are you one of those looking to opt for a new card or you are a first-time card user entering the credit market? Recommended here are the top credit cards with zero annual charges.
IDFC Select credit card –
IDFC Select credit card endows you with privileges and the best benefits and you have no requirement for paying any joining charge. With the IDFC FIRST Select card, you earn points that do not expire ever. The interest on the credit card ranges anywhere between 0.75 per cent and 2.99 per cent per month. You can avoid levying such interest by repaying your credit card dues in full on time.
The crucial key highlights of the IDFC Select credit card are –
- You will get 10X reward points on the transactions you make on your birthday.
- Enjoy one reward point each time your expenditures hit Rs 100.
- Avail complimentary access to a domestic airport lounge.
- Get up to 20 per cent in the form of discounts on around 1,500 restaurants across India.
IDFC Wealth credit card –
IDFC Wealth credit card provides reward points of up to 10 X. This comes with a forex markup of 1.5 per cent, complimentary access to domestic airport lounges and other benefits.
The crucial key highlights of the IDFC Wealth credit card are –
- Earn 1 X reward point on every Rs 100 spent.
- 10 X rewards on all spend on your birthday.
- Get 10 X rewards on all spends over Rs 20,000.
- For all online spending, you can earn 6X rewards.
- For all offline spends, you can earn 3X rewards.
HSBC VISA platinum credit card –
HSBC VISA credit card offers benefits that go beyond the annual charge incentive. If you constantly swipe a credit card for dining, travelling, and shopping purposes, this is the best card you can opt for. As per of welcome process, financial institutions offer Amazon vouchers equaling Rs 500 on transactions within 30 days of the issuance of the credit card.
Moving ahead, credit card tags distinct discounts and reward packages that provide the card user with an amazing experience. These include –
- Up to 15 per cent off on dining at more than 1,000 restaurants operating in many Indian cities.
- Fuel surcharge waiver throughout fuel pumps in the country for values of between Rs 400 and Rs 4,000.
- Two reward points on spending Rs 150 every time.
- 5 X rewards on purchases post crossing a specific cap of Rs 4 lakh every year.
- Airmiles conversion between popular British Airways, Intermiles, and Singapore Airlines.
While it is the issuer’s job to provide excellent deals to users, the responsibility does not end there. HSBC credit card helps protect the user against theft and credit card loss.
- Report card cancellation and get a new globally accepted card within three days.
- Get covered on misuse of credit card of a whopping amount of Rs 3 lakh after mentioning the loss.
Kotak Fortune Gold credit card –
Primarily structured for the Indian business community, Kotak’s Gold credit card comes with zero annual charges and interest-free withdrawal, with features and benefits that are tough to turn down. You can sign up for the Kotak Fortune Gold credit card to get the listed advantages –
- Cash withdrawal permitted of up to 50 per cent of the credit card limit.
- Fuel surcharge waiver for the transaction between Rs 500 and Rs 3,000.
- Four free PVR tickets or Rs 750 cash back on expenditures of Rs 1.50 lakh every year.
- Outstation cheque processing charge, machine surcharge at ATMs, charge slip request – all are waived.
Note that this credit card is applicable to just professionals in cities like New Delhi, Mumbai, Noida, Pune, Gurgaon, Hyderabad, and Kolkata, earning an income equaling Rs 3 lakh every year. The primary holder of the card must have an age of anywhere from 21 to 65 years. If a secondary holder is included, then he/she must have an age of over 18 years.
Axis Insta Easy credit card –
Axis Insta Easy credit card is known for being a zero annual fee credit card that is secured in nature and requires you to maintain a fixed deposit of at least Rs 20,000 in your Axis savings account. The offerings of this credit card are as follows –
- 100 per cent cash withdrawal is allowed.
- You can set your credit limit with maximum touching a limit of 80 per cent of the fixed deposit limit.
- 1 per cent fuel surcharge waiver is allowed on transactions of between Rs 400 and Rs 4,000.
- 15 per cent dining discount at specific restaurants.
In the case of any loss or theft, the financial institution makes it a point to replace the credit card with a card without the requirement of providing any replacement charge.
SBI card Unnati –
Unnati infers progress. This is what the State Bank of India promotes while offering the credit card. SBI has taken additional measures to make the card available readily to those who are deserving. SBI card Unnati is as follows –
- 1 per cent fuel surcharge waiver for a transaction of anywhere between Rs 500 and Rs 3,000.
- Earn 1 reward point on spending every Rs 100.
- Spend Rs 50,000 per year and earn a cashback of Rs 500.
- Make purchases of over Rs 2,500 through the credit card to get opportunities like credit card transaction conversion into small, convenient EMI over months.
- The issuer provides a 25-day credit-free period on all your purchases whether online or offline along with the choice of cash withdrawal of up to 80 per cent of the overall credit limit.