6 tips to choose the most suitable lifetime free credit card for yourself

Credit cards are very useful financial tools, especially when you need instant access to funds. Once you make payments with a credit card, you can then repay the credit card bill at the end of the month. This gives you time to get your finances in order before clearing off bills. Now, banks are also offering lifetime free credit cards to their customers. For those who are not familiar with this variant, this is a card with which the customer does not get charged any joining, annual, or maintenance fee ever. Now, before applying for a free credit card, here are a few tips that you should keep in mind to find a suitable credit card: 

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  Identify your needs for a credit card

Ascertain your reasons for getting a credit card, be it to build a good credit score, simply shop online, or pay your monthly bills. As different types of credit cards are meant to be used differently, knowing your purpose in advance will help you in choosing the best credit card.

• Ascertain the expected benefits

Every type of free lifetime credit card comes with its own benefits and credit card offers. These credit cards generally come with benefits such as reward points on usage, easy EMIs, sign-up bonuses, complimentary travel insurance, air miles, and cashback on purchases. Helping you build a good credit score is another benefit of all credit cards. Do your research on the benefits that you can get from a lifetime free credit card as this can help in choosing a suitable one.

• Go through the terms and conditions carefully

In case you are planning to apply for a free credit card, simply learning about the benefits is not enough. While doing this, please make sure that you also read the terms & conditions of using a lifetime free credit card thoroughly. Doing so will be helpful in being aware of all the costs involved.

• Pick a suitable variant

Before applying for a lifetime free credit card, it is also important to remember that different types of credit cards fulfil different purposes. Some of the common examples of different variants of credit cards are platinum cards, titanium cards, and travel credit cards. Read about each one to understand which credit card is most suitable for you. 

• Look up the interest rate

Credit cards involve an interest rate, which is also referred to as the Annual Percentage Rate (APR). The rate of interest offered is one of the determining factors for credit cardholders when it comes to applying for a free credit card. If the interest rate were to change, the bank will notify you in advance.

You can get in touch with your bank representative to get guidance on choosing a suitable free lifetime credit card. Being aware of the basics of these credit cards in advance will help in making effective use of your lifetime free credit card. 

Originally posted 2023-07-17 21:17:41.