Are life time Credit Cards worth to take?, The introduction of Credit Cards has increased spending habits of an average consumer. Their spending has more than doubled. Credit card is good for those who do not wish to carry any money. Consumers can now buy any product they want and create it into well form EMI’s.
Though Credit Cards provide a lot of facilities and rewards but many have an annual fee. While annual fee is good for regular users, it might not be good for people who do not use it quite often. “Now check more details for “Are life time Credit Cards worth to take?” from below…..
Are life time Credit Cards worth to take?
Why lifetime credit cards are required?
Many times credit card companies do not tell the credit card user about the annual fee. It is only after deduction of the annual amount the user gets to know about it. Hence, non-frequent buyers want lifetime free credit cards.
There are many credit cards which do not charge any annual fee unless the shopping amount exceeds a prescribed limit. However, many users do not prefer this condition.
Also, it is strongly advised that credit card should strictly be purchased based on consumption level and the annual fee should not be the bias to buy a credit card.
There are other virtual credit cards designed specifically for online shopping and they do not carry any annual charges.
Best Lifetime Credit Cards.
There are many good credit cards offered by banks. Some of the best credit cards with great benefits are mentioned below:
The ICICI Bank HPCL Coral Credit Card is a great lifetime credit card with great features.
They have good cash back facilities. Also the users can waive off 2.5% of fuel surcharges. While there is no annual fee in the first year.
The user earns 5 payback points for every Rs. 100 spent on HPCL petrol pumps. The user also get 2.5% cash back. There is an annual fee of Rs. 199 plus service tax from the second year.
The credit card by HDFC Bank called the Money Back Credit Card is also a good choice. It offers payback points. It has zero card lost liability. Also offers waiver of surcharge. The first time annual fee can be avoided by using the credit card to buy items worth Rs. 10000 or more within 90 days of activation. Though this cash back is only valid for 90 days from the activation date.
The SBI Simply Save Credit Card has an annual fee of Rs. 499; however this is redeemable by 2000 bonus cash point which is worth Rs. 500. The card does not charge any fuel surcharge all over India. The Card provide cash back on every transaction done.
In the end it is safe to say that banks do not offer any free lunches. They always have a hidden fee or higher interest rates in case they user is unable to pay their dues. Thus lifetime free credit cards are good for frequent buyers. For buyers who do not use credit cards quite often, it would be better if they either do not buy it. So in the end, the lifetime credit cards are good from the point of view of frequent credit card users but is not a good choice for buyers who do not prefer the credit card often.
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