Top 4 Free Credit Cards in India

While understanding which credit card offers most return on money spent ( in the form of reward points or cash back etc.) can be difficult, some of us have a simpler requirement that credit card should be free from any fees. So, our team at theindianinvestor, researched every major credit card company and came up a list of fees free credit cards.

Most credit card companies offer to waive the annual charges if customer swipes the credit card for a predefined amount in a predefined period. For example, a credit card might waive the annual fees if you swipe around Rs 30000 in first six months of credit card issue date. The reason for this condition is that credit card issuing bank wants to make sure that customers use the credit card.

Mostly to be eligible for a free credit card, it is helpful if you have an existing relationship with the bank ( like a salary account or a current account ) for at least 12 months.

ICICI Bank Platinum Chip Credit Card

ICICI Bank Platinum chip credit card is a great card for customers who are starting to build their credit card history. The card is issued against a fixed deposit in your ICICI savings account, and it does not have any joining or annual fees associated with it ( until you have the fixed deposit).

Although the card is completely free to customers, it does offer rewards powered by PayBack and includes 2.5% fuel waiver (based on conditions).

Interested,  apply for ICICI Platinum Chip Card.

HDFC MoneyBack Credit Card

Although the fees for this card can vary based on your existing relationship with HDFC Bank, we have seen that it’s usually issued without any fees even for customers who do not have an account with HDFC Bank and hence we decided to include the card in our list.

HDFC MoneyBack card works on the simple concept that you earn points while using the credit card for purchases and the points can be redeemed to pay the outstanding balance of your credit card.  Customers earn 2 reward points for every Rs 150 spent. The redemption rate is 100 points = Rs 30.

You can get the first year fee reversed if you spend Rs. 10,000 in first 90 days of card set-up date and renewal fee reversed if you spend Rs. 50,000 in a year before renewal date.

Love MoneyBack, apply for HDFC MoneyBack Credit Card.


Citibank Reward Credit card is offered free to existing Citibank customers having good standing saving bank account.  The best thing about this credit card is that it offers reward points on all cash spends ( in multiple of Rs 125 ), hence you would receive 1 reward point for Rs 125 spent. The reward points earned can be as high as  10x, if you plan your travel trip via

Although the annual member is Rs 1000, it is generally waived if you spend around Rs 30,000 in a year.

Like all other Citibank cards, what we like the most of the rewards card is that points never expire and redeeming them against the Citibank gift catalog ( like a gift card from Amazon etc.) or outstanding card balance is simpler than most other banks.

Love never ending rewards points,  apply for Citibank Rewards card.

HDFC Business Money Back Chip Card

HDFC bank typically offers HDFC Business Money Back card to its customers who have an existing bank account with the bank. The best part about this card is that you can easily get a waiver of first-year fees by spending Rs 5000 in first 90 days of credit card and from second year onwards the credit card fees will be waived if spend Rs 50,000 (annually).

Although the card is free, it offers reward points as below:

  • 6 Reward Points for every Rs.150 spent on Air/Travel/Hotel/Restaurant and online spends.
  • 2 Reward Points for Rs 150 on other expenses (Except fuel)
  • Redeem Reward points for CashBack 100 Reward Points = Rs 30

Have a business and need a free credit card for it,  apply for HDFC Business MoneyBack Chip credit card.


Are you using any of these cards, please share your feedback in the comments section below or if you have other cards which you would like us to review, please leave the names in the comments section. 


Happy Swiping 🙂