These five credit cards come with zero annual fees: Do you own any? A zero-annual fee credit card is a popular choice for those who've just started their career, earned their first salary and getting introduced to credit cards. But such cards can also offer decent rewards
November 26, 2021 / 09:32 AM IST
A credit card with high annual fee is worth it only if you get substantial rewards in return for that fee. Otherwise, a zero annual fee credit card can offer you better value with reasonable rewards, that too without incurring an additional cost of annual fees. A zero annual fee credit card can be used for the long run by those with minimal spending habits. This helps in balancing your credit utilization ratio and can be fruitful in improving your credit score. Here are the best zero annual fee credit cards you can consider. Data is complied by Paisabazaar.
Image Source: ICICI Bank | Amazon Pay ICICI Credit Card offers 5 percent and 3 percent cashback on amazon for Amazon Prime Members and Non Amazon Prime members respectively, 1 per cent cashback on shopping, dining, insurance, travel costs, etc. 1 percent fuel surcharge waiver and more.
Image Source: Axis Bank | Axis Bank issues Axis Insta Easy Credit Card against a fixed deposit with the bank. The bank offers credit limit up to 80 percent of the principal value of the fixed deposit. It allows cash withdrawal up to 100 percent of the credit limit. Additional features are 15 percent off at partner restaurants and 1 percent fuel surcharge waiver.
Image Source: HSBC Bank | HSBC VISA Platinum Credit Card offers Rs 3,000 annual savings on fuel surcharge, 15 percent discount while shopping on Tata CLiQ, offers while booking movie tickets on BookMyShow, complimentary lounge access at domestic and international airport lounges thrice, etc. To be eligible for this card, a minimum annual income of Rs 4 lakh is mandatory.
Image Source: ICICI Bank | ICICI Platinum Chip Card offers two PAYBACK Points on spending Rs 100 for all retail purchases except fuel, one PAYBACK point on spending Rs 100 on utilities and insurance categories, 1 percent fuel surcharge waiver, 15 percent saving on dining bill across 12 major cities.
Image Source: Kotak Mahindra Bank | Kotak Mahindra Bank offers Kotak Gold Fortune Credit Card only to business owners. The features are free PVR movie tickets on spending Rs 1.5 lakh annually, fuel surcharge waiver, etc., a minimum annual income of Rs 3 lakh is mandatory to become eligible for this card.
Have a disciplined approach to your credit behavior. Since, credit cards offer a significant interest-free period, there may be a tendency to over-spend. If you spend more than you can repay and cannot pay your credit card bill timely, you will incur hefty interest charges ranging from 28-49 percent p.a. along with late payment fees.
To shortlist the top five zero-annual fee credit cards, Paisabazaar compared the features of all credit cards available within the segment. They selected top five credit cards on the basis of the maximum features offered across categories like rewards, cashback, fuel surcharge waiver, movies, dining, etc. All credit card information is sourced and updated as on November 17, 2021.