Best Free Credit Cards For The Economically Unsound Shopper In You for 2023

Created on 15 Jul 2022

Wraps up in 5 Min

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Updated on 02 Jun 2023

Best free Credit Card in India

Free credit is like virtual reality. Oxymoron!

Paying is the least exciting part of shopping, but that's why we have credit cards. If retail therapy answers all your problems, you would surely want to possess the best free credit card in India. So what's this fuss and buzz surrounding these payment cards? 

India has been a growing market for debit cards. However, in the last decade, it has witnessed a sudden surge in the number of credit card holders. This acceleration has been nearly overnight, primarily due to a credit card's various benefits. Little wonder, the number of credit card holders increased from 29 million in 2017 to 62 million in 2021. This growth rate is expected to surge marginally in the coming years too. 

Additionally, more and more people are opting for a credit card with no annual fee in India as it offers various benefits. Read this article to learn more.

Why are people opting for the best free Credit Card in India?

Online shopping has drastically increased due to the pandemic, and credit cards have fuelled this surge in no small measure. Clearly, a credit card is the best option if you do not have money to pay upfront. A line of credit can do wonders to your sense of self-worth; until it's time to repay, of course! 

As David Ramsey said, "Personal finance is only 20% head knowledge. It's 80% behaviour!" So, use your credit cards wisely. 

Several financial institutions offer various types of credit cards. You can select the card based on your requirement and eligibility criteria. It's a good idea to spend some time before picking one; that way, you can avoid any surprises in the future. 

Undoubtedly, the most popular credit cards have no annual fee. But then again, there are so many options among them that it becomes challenging to choose. So let's look at some of India's best free Credit Cards with no annual fee.

Which are the top 5 most preferred free Credit Cards in India?

We have curated a list of the best free credit card in India, so here goes:

1. ICICI Instant Platinum Credit Card

ICICI Instant Premium Credit Card is India's most preferred free credit card; it is particularly beneficial for first-time users. The card has no annual fee and is issued against the savings in your savings account. The card offers a discount of Rs. 100 on the booking of two movie tickets through BookMyShow. 


  • The interest rate is as low as 2.49% every month.

  • You can also avail of outstanding deals on luxury hotels, wine, spas, restaurants, etc.

  • The card has international validity for card replacement services and global emergency assistance. 

  • You can use the card for purchasing items at zero interest, provided you repay the full amount on time.

2. HSBC Visa Platinum Credit Card

HSBC Visa Platinum Credit Card comes with zero annual fee and excellent cashback benefits. You can get up to 10% cashback on all the payments you made during the first 60 days from the issue date. In addition, you can enjoy 5X reward points for an expenditure ranging from Rs. 4 lakhs to 10 lakhs. 

The card comes with a welcome offer comprising amazing Amazon vouchers and 10% cash back for 90 days from the day of issuance. This card is a blessing for shopaholics and travel enthusiasts.


  • You can also avail of insurance over the misuse or loss of a card.

  • You can convert the air miles on Singapore Airlines into credit points.

  • You can unlock amazing discounts on restaurants, movies, flights, etc.

3. Citibank Rewards Domestic Credit Card

Citibank Rewards Domestic Credit Card was considered one of India's Best Lifetime Free Credit Cards in 2021. You get reward points on every swipe and up to 15% savings at partner restaurants. All the points collected on the card are redeemable on airline tickets, premium merchandise, etc. 


  • You can enjoy more than 6,000 offers on shopping, bills, and movies. 

  • The reward points earned come with no expiration date.  

  • You can easily convert your transactions to EMI at more than 2,000 consumer electronics outlets. 

4. Aspire Platinum Credit Card (IDBI Bank)

Aspire Platinum Credit Card (IDBI Bank) is one of India's best free credit cards. The card presents a vast array of benefits for all kinds of spending that are rarely seen in free credit cards in India. 


  • You receive benefits of 500 delight points for 30 days from the day of issuance. 

  • You earn two delight points on the spend of 150. 

  • You earn reward points on all kinds of spending. 

5. ICICI Amazon Pay Credit Card

ICICI Amazon Pay Credit Card is issued by ICICI Bank in collaboration with Visa and Amazon. The card allows you to shop on Amazon or anywhere you want while enjoying many attractive rewards. It is one of the Free Credit Cards in India and has been created for all shopaholics. 


  • You can enjoy a waiver of 1% on a fuel surcharge. 

  • Amazon Prime Members get a 3% cashback on every purchase done at Amazon.

  • There is no expiry date for the reward points; therefore, you can redeem them at your convenience. 

There are enough credit cards in circulation that all of them put in a line could go around the planet 3.5 times!

How to use the free Credit Cards in India wisely?

A common myth surrounding credit cards is that they push people toward unhealthy spending habits. This is not true if you spend sensibly on your card. 

One can find sound advice in the unlikeliest of places. Such as this one from Varun Dhawan's character in the movie Dishoom, "I earn in Dirhams and spend in rupees." Simply put, your earnings should be more than your spending. 

There are other ways to control overspending, too. You can:

  1. Track your spending pattern.

  2. Match your bill with your credit card bill

  3. Assess the affordability of the product.  

  4. Correct the usage of the card.

  5. Keep into account the number of cards you are using.

Writer's opinion

A credit card with no annual fee in India is trendy among people as they offer a good option for managing finances while saving up on the yearly charges. You can choose any of these cards depending on your lifestyle and spending patterns. 


Check out this guide when you plan to avail yourself of the Best Free Credit Card In India. 

As Benjamin Franklin said, "Beware of little expenses. A small leak will sink a great ship." 

Therefore, accumulating debt and keeping it for the next day is a perfect recipe for a financial downfall. So, using your card wisely while exploring its benefits is necessary. 

We would also love to hear about your experiences with the credit cards that you are using in the comment section. So drop a comment now!

*Disclaimer: The credit cards mentioned above are not a recommendation by Finology.

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Deb P Samaddar

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If people could be named after idioms, Deb would be called "I'm all ears." His brain is a storehouse, ever overflowing with derelict information. So, while most things he talks about are as useless as occasion-less greeting cards, everything he writes has the potential of bagging you multiple diplomas!

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