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    Is a lifetime free credit card really free?

    Updated · CardKhoj Editorial Team

    Short answer

    Yes — a lifetime free credit card never charges a joining or annual fee. But it is only free if you pay the full bill on time. Interest (about 36–45% a year), late payment fees, cash-withdrawal charges and forex markup still apply on every card, including lifetime free ones.

    What “lifetime free” covers

    “Lifetime free” (LTF) means the bank will not charge a joining fee or a yearly renewal fee for as long as you hold the card. You do not need to meet a spend target to get the fee waived — it is waived permanently.

    Charges that still apply

    • Interest on unpaid balances — usually 3–3.75% per month if you do not pay the full statement amount.
    • Late payment fee — charged if you miss even the minimum amount due.
    • Cash withdrawal fee — typically 2.5% of the amount, with interest from day one.
    • Forex markup — about 3.5% + GST on international transactions.
    • GST at 18% on all fees and interest.
    • Smaller fees for card replacement, cheque payments or over-limit use, depending on the bank.

    Can a bank remove the lifetime free status?

    Banks can revise product terms with advance notice. If that happens, you can close the card free of charge. Keeping written proof (the welcome kit or an email confirming LTF status) helps if a fee is ever charged by mistake — ask for a reversal through customer care.

    Bottom line

    Treat a lifetime free card like a debit card: spend only what you can repay, set up auto-pay for the full amount, and it will cost you nothing while earning rewards and building your credit score.

    This answer is general information, not personalised financial or tax advice. Rules, rates and limits change — confirm with your bank, the RBI or a qualified adviser before making decisions.