Credit cards are now a must-have for managing our everyday lives and spending. With so many options to choose from, lifetime free credit cards have become popular for those who want the perks without the fees. Let’s take a closer look at what these LTF credit cards offer.
What is an LTF Credit Card?
An LTF Credit Card simply means “Lifetime Free Credit Card.” Unlike other types of credit cards that charge you a yearly fee, an LTF card won’t cost you anything to own – no joining fees, no annual fees, nothing.
Think of it like a credit card with all the perks you’d expect (rewards, benefits, etc.) but without any yearly charge. They’re a great option for those who want the convenience of a credit card without any extra costs.
Benefits of Lifetime Free Credit Cards
While they may not be as flashy as some premium cards, LTF credit cards offer some great benefits, especially for those just starting with credit:
- No Annual Fees: The most obvious benefit is saving money. You can enjoy the card without worrying about yearly charges.
- Welcome Offers: Many LTF cards offer welcome bonuses like cashback, reward points, or discounts to get you started.
- Reward Points and Cashback: Earn points or cashback on your everyday spending. However, the reward rate is generally lower (usually less than 1%) compared to other types of credit cards.
- Easy Approval: These cards often have less strict eligibility requirements, making them easier to obtain than cashback cards (like SBI Cashback or Airtel Axis) and premium options (like HDFC Infinia or Axis Magnus).
How to Get an LTF Credit Card in India?
To get a lifetime free credit card in India, you have two options:
- Apply for a New LTF Card: Many banks offer LTF credit cards with varying benefits and features. Compare these options, choose one that suits your needs and spending habits, and apply directly through the bank’s website or a branch. Banks may sometimes offer pre-approved lifetime credit cards.
- Request an LTF Upgrade: If you already have a credit card with the same bank, try reaching out to their customer service and requesting a lifetime free upgrade. If you have a good credit history and payment track record but are unable to maintain the annual charges, banks may sometimes waive these charges as a gesture of goodwill.
Pros and Cons of Lifetime Free Credit Cards
| Pros of LTF cards | Cons of LTF cards |
|---|---|
| No annual or joining fees, saving you money in the long run. | Lower reward rates compared to cards with annual fees. |
| Often easier to get approved for. | Fewer benefits and perks than premium cards. |
| Can still offer rewards and bank discounts. | Might not be the best option for high spenders. |
| Helps build credit history if used responsibly. |
In short, you should get a lifetime free credit card if you:
- Pay your bills in full each month to avoid interest charges.
- Don’t spend heavily on your cards.
- Are new to credit and want to build a good credit score.
- Prefer simplicity and don’t need a lot of premium perks.
I generally recommend having lifetime free credit cards from banks that offer the most online discounts and offers. For example, you could consider keeping the ICICI Instant Platinum, Kotak League Platinum, and HDFC Bank Millennia credit cards. These cards are lifetime free and can help you take advantage of those 10% discounts when they pop up on Amazon, Flipkart, TataCliq, Myntra, and other shopping sites.
However, be sure to check the current LTF status when applying, as banks often change their terms. Also, some chargeable cards may become LTF from time to time, depending on the bank’s current offers.
I’m a bit of a credit card geek. Ever since I got my first card in 2018, I’ve been obsessed with finding the best deals, earning rewards, and boosting my credit score. I’m a tech guy at heart, but my love for all things personal finance has led me down this credit card rabbit hole. I also dabble in banking, investing, and other money matters.