Banks and financial institutions provide a wide variety of credit cards that have different characteristics and advantages. There are many different credit cards available which charge annual membership fees and provide a wide range of benefits. There are some credit cards which do not have any annual fee. Since there is no annual fee on credit cards, these credit cards are free. At most of the banks, credit cards that do not have more privileges or higher benefits have Zero annual fees.
Credit card users who want to enjoy limited benefits and do not want to pay any yearly charges, for the credit cards are provided for free by the banks. Banks and financial institutions issue credit cards for free without any yearly charges. These kinds of cards that are provided to the users are lifetime free credit cards.
The user can get the benefits for free but these benefits are just moderate since there are no annual charges associated with the credit card. There are limited benefits that are offered to the card users. There are no loyalty programs associated with the card.
Benefits of free credit cards
Everyone wants to enjoy free privileges. There is no need to pay any extra money for the credit cards as the banks will provide the privileges of using the credit cards for free. Having a free credit card will make the user enjoy the benefits of credit cards. The benefits of free credit cards are not the same for all the banks; they are different from one bank to another bank. Below are the general benefits of free credit cards in the UAE.
- Dining privileges
- Buy one and get one
- Airport lounge access
- Add on Cards
1. Dining Privileges
Cardholders great deals on credit cards. Banks will provide privileges on Credit cards such as the dining discounts, coupons and other privileges.
2. Buy one and get one
Credit card companies provide buy one and get one offer on the credit cards. These privileges are provided on the hotels, entertainment, dining and leisure.
3. Airport lounge access
Airport lounge access is provided to the basic and supplementary cards. Some cards provide unlimited free access to airport lounges.
4. Add on cards
The card users can add on cards using the primary credit cards. These cards can be taken for family members.
What is the eligibility for getting lifetime free credit cards?
The eligibility conditions for getting lifetime free credit cards may be different from the issuer to the issuer. It is also different from person to person as the criteria is decided by the historical spending data of the card applicant. However, below is the basic eligibility criteria for lifetime free credit cards.
- The minimum age for applying for the free credit cards is 21 years
- The applicant should be having a permanent source of income
- The applicant should have a clear payment history
- Expats and UAE nationals are eligible for getting free credit cards
- Applicants should have Emirates ID
- Expat applicants should have a passport & proof of address
- The applicants should have a decent credit score to apply for free credit cards
Check: Reasons why you need a credit card
How to apply for free credit cards?
The facility for applying for free credit cards is through online and offline. However, the process and the documentation work is different for both the ways.
- Applying through online
- Applying through offline
1. Applying through online
If the basic eligibility criteria are satisfied then the applicant can apply through the online process. The applicant has to log in to the website portal of their bank and fill the application form. Some banks also provide the facility to select the credit card of their choice according to the applicant’s budget and their requirement. Once the details are filled through online then the user has to submit the application.
The bank will collect the online application form and verify the profile details. If the application clears the bank’s verification then within three to five working days the applicant will get an intimation. The bank will further collect any documents if required from the applicant. Once all the required documents are collected then it will take from seven to ten business days to complete the process. You can note the application number and track the progress of your credit card online.
2. Applying through offline
Credit cards can also be applied through the traditional method by visiting the bank branch. You can visit the nearest branch and apply through the offline process. Submit all the required documents as requested by the authorities and select the card that is according to your requirements.
Lifetime free credit cards in the UAE
Credit card usage in the UAE has drastically increased. A larger number of applicants choose to apply for free credit cards which do not have any annual fees. In the UAE, there are many banks that provide free credit cards.
Check: Lifetime free credit cards in UAE
Takeaway
Getting your free credit cards is sometimes confusing as the applicant does not have full details and knowledge about the products. The user has to understand the chargeable upgrades and the validity of the offers. From time to time the services get upgraded and sometimes they are chargeable. Since these are chargeable they also provide additional benefits and privileges. Lifetime free credit cards that offer a wide range of benefits, discounts and privileges do not come throughout life. They keep changing from time to time and sometimes the card issuers will issue offers only for a few months or some days. Hence read all the terms and conditions before selecting your free credit card.
About the author
Vinay Kumar Goguru is a finance professional with more than 8 years of diverse experience as a researcher, instructor and Industry work experience with both public and private entities. Prior to MyMoneySouq, he spent 6 years in Berkadia, It's a commercial mortgage banking company. He has a "Doctoral Degree in Commerce" and two master's degrees with a specialization in Finance, one as Master of Commerce and other as Master of Business Administration. He has written several articles on personal finance, published by different International journals. He loves traveling, reading and writing is his passion. He has a dream of writing a book on his favorite finance topics.
