By Ankur Mittal
Updated On October 12, 2021

The annual fee is an essential factor when figuring out the best card for yourself. A no annual fee credit card can help you lower your expenditure and help you get more value out of your credit card. Owning zero annual fee credit cards could be a great prospect in terms of the value you derive in terms of welcome bonuses, additional benefits, and special privileges. Thus, helping you save money, while at the same time you earn exclusive rewards points on your spendings.

Many card issuers in India provide credit cards with absolutely no annual fee charged. Therefore, if you are a person who likes to keep account of your spendings this might prove to be useful for you. In this article, we have compiled a list of credit cards that come with a lifetime free membership. Read below to know more about zero annual fee credit cards.

HSBC Visa Platinum Credit card

HSBC Visa Platinum Credit Card

Welcome Benefits

Amazon Voucher worth Rs. 500, 3 complimentary lounge access/3 meal vouchers, 50% discount (up to Rs.100) on the first transaction on google pay, and 10% cashback (upto Rs. 2,000).

Rewards Rate

Earn 2 reward points on every Rs. 150 spent on this card.

Joining Fees

Nil

HSBC Visa Platinum credit card provides you with exclusive lifestyle and travel benefits and privileges on your spendings. With this credit card, you could earn up to a 5x accelerated reward rate on your spendings. You can earn up to 15000 reward points in a year using your HSBC Visa Platinum credit card. Moreover, as a signup bonus, you can enjoy 3 complimentary domestic and international lounge visits. Some of the important details of the HSBC Visa Platinum credit card are listed below:-

  • Earn 5x reward points on annual spending of Rs 4,00,000 or above.
  • Get 3 complimentary domestic and international lounge access visits, Amazon voucher worth Rs. 500 and up to 10% cashback on your spendings as a sign-up bonus.
  • Buy 1 get 1 offer on booking movie tickets through BookMyShow
  • 10% discount on Tata CLiQ on a minimum transaction of Rs. 1000
  • 10% discount on electronics on a minimum transaction of Rs. 3000
  • 10% discount on the Tata CLiQ luxury website on a minimum transaction of Rs. 5000

Amazon Pay ICICI Bank Credit Card

Amazon Pay ICICI Bank Credit Card

Welcome Benefits

Rs. 300 to Rs. 600 Amazon Pay Balance (keeps changing)

Rewards Rate

5% cashback on Amazon India for Prime members and 3% cashback for Non-Prime members, 2% cashback on partner merchants accepting Amazon Pay, 1% cashback on all other payments except fuel purchases

Joining Fees

Nil

Amazon Pay ICICI Bank credit card is a card launched in collaboration with Amazon that provides you special cashback on your shopping spends. Prime members can get up to 5% cashback on shopping at amazon and non-prime members get up to 3% cashback on their spendings. Some of the important details of the Amazon Pay ICICI Bank credit card are listed below:-

  • 5% cashback on your purchases through Amazon for prime users
  • 3% cash back on purchases through Amazon for non-prime users
  • 2% cashback on all transactions using Amazon Pay at partner merchants
  • 1% cashback on all other transactions made using your Amazon Pay ICICI Bank credit card
  • Up to 15% off on dining with ICICI Culinary Treats program.
  • 1% fuel surcharge waived on all petrol pumps across India.   

ICICI Bank Platinum Chip Credit Card

ICICI Bank Platinum Identity Credit Card

Welcome Benefits

N/A

Rewards Rate

2 Hand-picked Rewards per Rs. 200 on domestic spends, 4 Hand-picked Rewards per Rs. 200 on international spends, 3 and 5 Hand-picked Rewards per Rs. 200 on domestic and international spends respectively on crossing the annual spends threshold of Rs. 2.5 lakh, 4 and 8 hand-picked rewards on domestic and international spends respectively on crossing the annual spends threshold of Rs. 5 lakh

Joining Fees

Rs. 2,000 (plus applicable taxes)

ICICI Bank Platinum Chip credit card is an entry-level card that comes in both Visa and Mastercard variants. ICICI Bank Platinum Chip credit card uses a Payback loyalty program to award reward points. With this card, you get up to 2 payback points on every Rs 100 spent on retail spends. 1 PAYBACK Point on every ₹ 100 spent on utilities and insurance. Some of the important details of the ICICI Bank Platinum Chip credit card are listed below:-

  • 2 Payback Points on every Rs. 100 spent on all retail transactions except on fuel.
  • 1 Payback Point on every Rs. 100 spent on utilities and insurance categories.
  • ICICI Bank Platinum Chip credit card comes in two variants: VISA & Mastercard
  • Up to 15% off on dining with ICICI Culinary Treats program.
  • 1% fuel surcharge waived on all petrol pumps across India.

ICICI Bank Mine Credit Card

ICICI Bank Mine Credit Card

Welcome Benefits

NA

Rewards Rate

A cashback of 1% on all retail spends and 5% on exclusive partner brands.

Joining Fees

For Starter Plan – Nil
For Pro Plan – Rs 49 per month
For Premium Plan – Rs 149 per month


ICICI Bank Mine credit card is a card for the millennials that comes in three plans the starter pack, Pro plan at Rs 49, and a Premium plan at Rs 149. You do not get charged an annual fee on the starter plan. With this credit card, you get up to 1% cashback on retail spendings. The cashback is capped at Rs 100 per month on this credit card. Some of the important details of the HSBC Visa Platinum credit card are listed below:-

  • 1% cashback on your retail spendings with ICICI Bank Mine credit card
  • Exclusive offers on dinings, travel, grocery, and merchant store
  • 1% fuel surcharge waiver on transactions at all HPCL petrol pumps.

IDFC FIRST Select Credit Card

IDFC First Select Credit Card

Welcome Benefits

Gift voucher worth Rs. 500 based on spends within 90 days of card issuance and a 5% cashback on EMI transactions within 90 days of card issuance.

Rewards Rate

3 Reward Points per Rs. 100 spent offline, 6 Reward Points per Rs. 100 spent online, and 10 Reward Points per Rs. 100 on spends above Rs. 20,000.

Joining Fees

Nil

IDFC First Select credit card provides a host of special benefits and privileges to its customers on their spendings. On this card, you can get up to 10x reward points on your spendings. Furthermore, you also get complimentary airport lounge access every calendar quarter using this credit card. Some of the important details of the IDFC First Select credit card are listed below:-

  • As a sign-up bonus, you get a Gift voucher of Rs 500 on the spending of Rs 15000 or above
  • 10x Reward Points for every Rs. 100 spent on purchases above Rs. 20,000.
  • 10x Reward points on every Rs 100 spent on your birthdays.
  • 6x Reward points on every Rs 100 spent on online spendings.
  • 3x Reward points on every Rs 100 spent on offline spendings upto Rs 20,000
  • Low interest rate (0.75% – 2.99%) and low foreign currency markup (1.5%)
  • 4 complimentary railway lounge visits every calendar quarter
  • 4 complimentary domestic airport lounge visits every calendar quarter
  • Personal Accident Cover worth Rs 5,00,000
  • Lost card liability covers worth Rs. 50,000

IDFC FIRST Millennia Credit Card

IDFC FIRST Millennia Credit Card

Welcome Benefits

5% cashback on first EMI Transaction within and gift vouchers worth Rs. 500.

Rewards Rate

3 Reward Points on every offline spend of Rs. 100, 6 Reward Points on every online spend of Rs. 100, and 10 Reward Points on every Rs. 100 on spends above Rs. 20,000.

Joining Fees

Nil

IDFC FIRST Millennia credit card is a top trending beginner-level credit card that provides you with a host of lifestyle and travel benefits on your spendings. You get up to 10x accelerated reward points on your spendings of Rs 20,000 or above. The reward points accumulated on this credit card do not expire and can be carried forward to another term. Besides that, you get 4 complimentary railway lounge access. Here are some important details of the IDFC FIRST Millennia credit card mentioned below:-

  • Gift voucher of Rs 500 on the spending of Rs 15000 or above as a signup bonus.
  • 10x Reward Points for every Rs. 100 spent on purchases above Rs. 20,000.
  • 10x Reward points on every Rs 100 spent on your birthdays
  • Low interest rate (0.75% – 2.99%)
  • 25% discount on movie tickets once every month
  • 4 complimentary railway lounge visits every calendar quarter
  • Personal Accidental Cover worth Rs 2 Lacs

Kotak Bank Fortune Gold Card

Kotak Bank Fortune Gold Card

Welcome Benefits

NA

Rewards Rate

NA

Joining Fees

Nil


Kotak Bank Fortune Gold credit card is a basic credit card that comes with a limited number of benefits for the customer. One of the key features of this credit card is that you get charged no interest on your cash withdrawals. Below are some important details about the Kotak Bank Fortune Gold credit card.

  • Cashback of Rs 750 or 4 PVR tickets on the spending of Rs 1,50,000.
  • Get protection liability cover up to Rs 50,000 on Kotak Bank Fortune Gold Card.
  • 1% fuel surcharge waiver on transactions across all petrol pumps valid on transactions between Rs. 500/- and Rs. 3000
  • Interest-free cash

Kotak 811 #DreamDifferent Credit Card

Welcome Benefits

500 bonus Reward Points

Rewards Rate

1 Reward Points on every spend of Rs. 100 and 2 Reward Points on every online spend of Rs. 100.

Joining Fees

Nil

This is a secured credit card issued by Kotak Mahindra Bank. With this credit card, you get up to 2 Reward Points on every Rs 100 spent online. Moreover, you also get up to 500 bonus Reward Points as a signup bonus. On annual spending of Rs 75,000, you get cashback of Rs 750 and 4 free PVR tickets. Here are some important details that you might like to know about Kotak 811 #DreamDifferent credit card.

  • Sign Bonus of 500 reward points on the spending of Rs 5,000 or more
  • 2 Reward Points for every Rs. 100 you spend on online purchases
  • Cashback of Rs 750 or 4 PVR tickets on the spending of Rs 75,000.
  • 1% fuel surcharge waiver on all transactions Rs. 500 and Rs. 3,000
  • Credit Shield cover up to Rs 50,000

SBI Unnati Credit Card

SBI Unnati credit card

Welcome Benefits

NA

Rewards Rate

1 reward point on every Rs 100 spent

Joining Fees

Nil


SBI Unnati credit card is a secured credit card offered by SBI cards. On this credit card, you get a complete waiver on the annual fee of up to 4 years. Moreover, you also get 1 reward point on every Rs 100 spent. Along with it, you get up to Rs 500 cashback on annual spending of Rs 15000 within 15 days of the card issuance. Some of the important details of the SBI Unnati credit card are listed below:-

  • 1 Reward Point on every Rs 100 spent using SBI Unnati credit card.
  • Rs 500 cashback on the spending of Rs 15,000 or more.
  • 1% fuel surcharge waiver on transactions between Rs 500 to Rs 3000

Bank of Baroda Prime Credit card

Bank of Baroda Prime Credit Card

Welcome Benefits

NA

Rewards Rate

4 Reward Points on every Rs 100 spent.

Joining Fees

Nil


Bank of Baroda Prime credit card is a secured credit card issued by Bank of Baroda. The card provides you with up to 4 reward points on every Rs 100 spent.1 Reward point is equivalent to Rs 1 on redemption using this credit card. Some important details about the Bank of Baroda Prime credit card are provided below-:

  • 4 reward points on every Rs 100 spent
  • 1% fuel surcharge waiver on transactions up to Rs 250 per statement cycle
  • Convert your purchases in Easy EMI options
  • Zero liability protection against lost/stolen card
  • 24×7 Concierge Service

Credit Cards with No Annual Fee

Credit Cards Annual Fee Key Feature
Amazon Pay ICICI Bank Credit Card Nil 5% Cashback on Amazon
ICICI Bank Platinum Chip Credit Card   Nil Earn upto 2 Payback points on your retail transactions 
IDFC FIRST Select Credit Card Nil 10x Accelerated Reward Points and Travel benefits
IDFC FIRST Millennia Credit Card Nil 10x Accelerated Reward Points
SBI Unnati Credit Card Nil Milestone Reward Benefits
HSBC Visa Platinum Credit card Nil Welcome Bonus and 5x Accelerated Reward Points 
Kotak Bank Fortune Gold Card Nil Interest-Free Cash Withdrawals
Bank of Baroda Prime Credit Card Nil Reward Rate
ICICI Mine Credit Card Nil 1% Cashback on retail spends
Kotak 811 #DreamDifferent Credit Card Nil Milestone Reward Benefits

Rewards

Credit Cards Rewards/ Cashback on your spends Rewards/ Cashback on other categories
Amazon Pay ICICI Bank Credit Card 5% cashback on
your purchases through Amazon for prime users
3% cash back on
purchases through Amazon for non-prime users
2% cashback on
all transactions using Amazon Pay at partner merchants
1% cashback on
all other transactions made using your Amazon Pay ICICI Bank credit card  
NA
ICICI Bank Platinum Chip Credit Card  2 Payback Points on every Rs. 100 spent on all retail transactions 1 Payback Point on every Rs. 100 spent on utilities and insurance categories.
IDFC FIRST Select Credit Card    10x Reward Points for every Rs. 100 spent on purchases above Rs. 20,000.
10x Reward points on every Rs 100 spent on your birthdays.
6x Reward points on every Rs 100 spent on online spendings. 3x Reward
points on every Rs 100 spent on offline spendings up to Rs 20,000
1 Reward point on every Rs 100 spent on all other categories.
IDFC FIRST Millennia Credit Card    NA NA
SBI Unnati Credit Card           1 Reward Point on every Rs 100 spent using SBI Unnati credit card Rs 500 cashback on the spending of Rs 15,000 or more.  
HSBC Visa Platinum Credit card Earn 2 reward points on every Rs. 150 spent on this card. NA
Kotak Bank Fortune Gold Card    Cashback of Rs 750 or 4 PVR tickets on the spending of Rs 1,50,000 NA
Bank of Baroda Prime Credit Card 4 reward points on every Rs 100 spent   NA
ICICI Mine Credit Card           1% cashback on your retail spendings NA
Kotak 811 #DreamDifferent Credit Card 2 Reward Points for every Rs. 100 you spend on online purchases   Cashback of Rs 750 or 4 PVR tickets on the spending of Rs 75,000.  

Reward Redemption

Credit Cards Reward Type Reward Rate
Amazon Pay ICICI Bank Credit Card Cashback N/a
ICICI Bank Platinum Chip Credit Card  Payback Points 1 RP = Rs 0.25
IDFC FIRST Select Credit Card Reward Points 1 RP = Rs 0.25
IDFC FIRST Millennia Credit Card Reward Points 1 RP = Rs 0.25
SBI Unnati Credit Card Reward Points 1 RP = Rs 0.25
HSBC Visa Platinum Credit card Reward Points 1 RP = Rs 0.37
Kotak Bank Fortune Gold Card Cashback NA
Bank of Baroda Prime Credit Card Reward Points 1 RP = Rs 1
ICICI Mine Credit Card Cashback NA
Kotak 811 #DreamDifferent Credit Card Reward Points 1 RP = Rs 0.25

Is it worth it to pay an annual fee for a credit card?

Yes, paying an annual fee for a credit card can be advantageous for you since you get exclusive benefits and features. These special benefits and privileges provided with annual fees make it worthwhile. Given below are some factors that essentially make a credit card with an annual fee worthwhile.

Welcome Bonus–  Several credit cards come with special welcome benefits that help you trade off your annual fee cost. These features might not be available on your no annual fee credit card.

Reward and Bonus– Credit cards with an annual fee provide you with a higher reward rate than other credit cards with no annual fee. You can accumulate more rewards points on your credit card with an annual fee.

Special Perks and Benefits-  You get unique perks and benefits that might not be available on your credit card with no annual fee. These special privileges include airport lounge access, golf privileges, insurance benefits, etc.

Who should apply for a no annual fee credit card?

New Credit Cardholders-:  If you are a first-time applicant and searching for the right credit card that fits your needs well. A no annual fee credit card is a great way to begin your credit card journey

Build Credit Background-: No annual fee credit card may be a suitable option for a low credit score or limited credit history. As it is easier to avail of a no annual fee credit card than other credit cards.

Cardholders Looking to Diversify-:  Any premium cardholder looking to diversify may benefit from the no annual fee credit cards.

Occasional User-  A no annual fee card is a cheaper and more economical option for the occasional credit card user.

Bottomline

No matter if you are a first-time applicant or an experienced credit card user a zero annual fee card can provide value to you. No annual fees are a great option because they are highly affordable and help you save money if you are a cautious spender. However, keeping tabs on the benefits and rewards provided on your card concerning the annual fees is always important if you are a credit cardholder.

FAQs:

No, a zero annual fee on your credit card does not necessarily mean that it is a free credit card. You are liable to pay certain charges on your no annual fee credit cards

You pay zero annual fees on your credit card by following ways

  1. You can get a waiver on your annual fees by contacting your card issuer
  2. You can avail of a special sign up bonus on your credit card equal to the net cost of the annual fee charged
  3. Or you get a credit card that comes with a lifetime free membership

Yes, you can use your no annual fee credit card for foreign transactions just like a normal credit card.

Yes, you can use no annual fee credit card to make cash withdrawals at ATMs

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