For new-to-credit users, lifetime free cards can offer a low-cost entry point into the formal credit system. For existing cardholders, such offers can also provide an opportunity to add another card with specific benefits such as travel rewards, cashback or lifestyle offers.
“Lifetime free credit cards are doing both, but their role varies by customer segment. For first-time users, they lower the barrier to entry by removing concerns around annual fees, making it easier to begin their credit journey. At the same time, they have become an effective acquisition product for issuers looking to attract existing cardholders seeking better value or benefits,” said Rohit Garg, Co-Founder and CEO, Olyv, an Indian fintech platform.
Garg said credit card adoption over the long term would depend on factors beyond pricing.
“The real differentiator for issuers will be their ability to offer transparent products, seamless digital experiences, and features that encourage disciplined repayment,” he added.
Lifetime free vs paid credit cards: How to compare
A lifetime free card may work well for consumers looking for basic credit access without additional costs. However, cards with annual fees may offer higher rewards or benefits depending on the user’s spending pattern.
Raj P Narayanam, Executive Chairman, Zaggle, an Indian financial technology , said lifetime free cards have become a significant customer acquisition tool, particularly among consumers who already use credit cards.
“Most digitally savvy consumers already hold one or more cards and a lifetime free proposition reduces the friction to add another card to their wallet,” he said.
Key factors to check before applyingRewards and cashback: Consumers should check whether the reward structure matches their spending categories. A card offering higher rewards on travel may not provide the same value for someone who spends more on groceries or online shopping.
Additional benefits: Features such as airport lounge access, travel benefits, dining offers, fuel savings and insurance coverage can influence the overall value of a card.
Charges beyond annual fees: Apart from joining and renewal fees, users should check interest rates, late payment charges, cash withdrawal fees and foreign currency transaction charges.
Usage discipline: Credit cards can help build a credit history when used responsibly. However, carrying unpaid balances can lead to significant interest costs.
Lifetime free credit cards available in the market
Several issuers currently offer lifetime free cards catering to different spending preferences.
For travel-focused consumers, the YES BANK PaisaSave Credit Card offers benefits linked to travel and dining spends, along with cashback on UPI transactions. The card is currently listed with zero joining and annual fees, subject to applicable terms.
The Federal Bank Scapia Credit Card is targeted at travel users, offering features such as domestic airport lounge access, travel rewards and zero forex markup on international spends.
The ixigo AU Credit Card from AU Small Finance Bank is another travel-oriented card offering benefits including zero forex markup, travel discounts and rewards on spends.
For shopping and lifestyle spends, the Axis Neo Credit Card offers merchant offers across categories such as food delivery, online shopping and entertainment platforms.
The CheQ AU Credit Card provides rewards across everyday spending categories, including cashback-style benefits on select merchants, dining and grocery spends, along with UPI-linked rewards through its RuPay variant.
The Fibe Axis Bank Credit Card offers a lifetime free structure with cashback benefits and other lifestyle features.
Among rewards-focused options, the IDFC FIRST Millennia Credit Card comes with no joining or annual fee and offers reward points, travel-related benefits and entertainment offers.
The HSBC Visa Platinum Credit Card offers reward points, travel benefits and fuel-related savings features under its lifetime free offering.
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