What are the best credit cards without annual fees?

Wednesday, December 20, 2017

A credit card is a good way to spend & earn rewards points, cash back, etc. To minimize your annual expenditure on a credit card, nothing can be as good as finding a card with zero annual fees. Though there are many banks which completely waive off the annual fee on a credit card or provide a retention offer that may equalize the fee, there are some banks offering credit cards at absolutely no annual fee or joining fee. These credit cards would be the best for those who want to build their credit score from scratch.

Listed below are some of the best credit cards without annual fee:-
1- SBI Card Unnati: This is a secured credit card by SBI Card and is free for the first four years. This credit card has worldwide acceptance and allows the user to avail all general features of an SBI Card such as balance transfer, flexipay, add-on cards and more. One must note that SBI account holder can only apply for this card when he/she has saved Rs. 25,000 or more in the fixed deposit. Unnati credit card users can earn 1 reward point on every Rs 100 spent, Rs 500/- cash back on spending Rs 50,000/- or more in a year. SBI Card Unnati is also eligible for 1% fuel surcharge waiver on each transaction between Rs 500/- to Rs 3000/- (exclusive of GST and all other applicable charges).

2- Titanium Credit Card from Central bank of India: It is yet another no annual fee credit card accepted in all merchant outlets across the world. Valid for 5 years, it offers several discounts on travel and hotel booking throughout the year. Customers using this card also get complimentary access to selected Airport Lounges across India plus one loyalty point on every Rs. 100 spent. Frequent travellers and shoppers can greatly benefit from this card. The card is also secure for online usage as One Time Password (OTP) is generated for every transaction. Also, users can get add-on cards for their family members. 55-day interest-free period is also allowed to the users of Titanium credit card. To avail this credit card, the gross annual income of the applicant should be more than Rs 1.50 lakh.

3- IndusInd Bank Pinnacle Credit Card: Using IndusInd Bank Pinnacle Credit Card you can enjoy benefits on a complete range of travel, lifestyle and gold privileges custom-made to the needs of the customers. Users of this no-fee credit card also get up to 3 free movie discounts in a month, one complimentary visit to the participating international lounges in a period of three consecutive months, special concierge service, and fuel surcharge on petrol pumps across India. As welcome gift, the cardholders will get Jet Airways promotion codes enabling them to avail 100% discount on base fare and Airline Fuel Charges. They can also choose between Genesis Luxury Voucher or a voucher enabling a memorable stay at any of the Oberoi hotels. Users can earn 2.5 times more reward points for every Rs 100 spent on their e-commerce transactions. The reward points can also be redeemed for direct cash credit into your statement.

4- HSBC Bank Platinum Credit Card: Offered at zero annual fees, this credit card from HSBC Bank offers discounts on movies, airfares, restaurants and more. Customers using HSBC Bank Platinum Credit Card also get the opportunity to earn 2 reward points for every Rs 150 spent. These points come with a validity of three years which can be used to redeem a host of gifts and vouchers. One can earn extra reward points by shopping at the partner stores. There is lost card liability coverage provided by ICICI Lombard General Insurance Company Limited for up to Rs 3,00,000. Visa Concierge service and emergency card replacement are some other benefits of this credit card.

5- The PNB Global Classic Credit Card: It is a basic card that offers fuel surcharge waiver and rewards on spending. The joining and annual fee of this card is Nil, which means you can continue to avail the benefits of this card for a lifetime for free. With this card, you get 1 reward point on every Rs. 100 spent (apart from fuel and cash transactions). The users of this credit card can also get up to two add-on cards issued for their family members. Lost card liability coverage is also provided on this credit card if the loss is immediately reported. By setting up standing instructions for utility bills, users can streamline their bills and other payments. Also, it is extremely easy to make EMI payments towards this credit card by logging on to the website.

6-ICICI Bank Instant Platinum Credit Card: ICICI Bank offers this credit card with zero annual fees. To be eligible for this credit card, the minimum monthly income of the applicant should be Rs 20,000. This credit card is secured against your fixed deposit with ICICI Bank. Users can earn 2 PAYBACK points for every Rs 100 spent on their Instant Platinum Credit Card. This is a Chip and PIN enabled credit card making every transaction more secure than ever. This can be great credit card if you want to build your credit score as the interest rate charged by the bank is low. Users will enjoy minimum 15% savings on dining at over 800 restaurants courtesy ICICI’s Culinary Treats program. With this credit card, users get entry into ICICI’s credit builder program wherein the bank reports the cardholder’s repayment behaviour to the credit rating agencies. Users can call ICICI Credit Card Customer Care to know the details of credit builder program.

These are some of the best credit cards where an annual fee is Nil. You can apply for these credit cards to save your annual expenditure that too without compromising on the list of benefits offered by these credit cards. Along with these, several banks offer credit cards with minimal annual fee which is reversed on reaching a set spending milestone. Such cards can also be a great addition to your wallet.

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