Bumper Benefits Without Annual Fees – Free For Life Credit Cards

By Sakshi Srivastava - 18 Jun 2021 Last Updated: 01 Dec 2021
Bumper Benefits Without Annual Fees – Free For Life Credit Cards

A variety of credit cards are available from a number of banks and financial organizations, each with its own set of features and benefits. There a plenty of credit cards that requires an annual fee in exchange for all of these perks. Aside from that, there are credit cards that do not charge an annual fee. Annual fees are the costs that cardholders must pay to the credit card issuer in order to receive all of the advantages and extra privileges.

This annual charge may not always be justified by the benefits provided. It only makes sense if the rewards and privileges on offer are greater. Thus people turn to credit cards with no annual charge if the benefits supplied by the credit card are not worth paying the annual fee for. Free for life credit cards or lifetime free credit cards are examples of this sort of credit card. In this blog we will learn all about Free for Life Credit Cards and how they can benefit you.

What are Free for Life Credit Cards?

Some credit card applicants desire to use their credit card sparingly. Essentially, they want to take use of the fundamental credit card features. They have no intention of paying any annual fees. Banks and financial organisations provide free for life credit cards with no yearly fees to such candidates. Also the only caveat of Free for Life Credit Cards, no annual fees provide cardholders with limited privileges and incentives.

Because there are no annual membership costs, the free for life credit card does not offer a loyalty programme, golf benefits, or significant rewards, among other things.

What are the Eligibility Criteria that one must fulfill to obtain a Free for Life Credit Card?

Card issuers may have different eligibility conditions for qualifying for a lifetime free credit card. The following are the usual requirements for obtaining a lifetime free credit card.

Life Credit Card

VALID ID PROOF

Expats and UAE Nationals are both able to apply for a free for life credit card. While Emiratis should bring their Emirates ID, expats must bring their passports and evidence of residency.

MINIMUM AGE

To apply for a lifetime free credit card, the candidate must be at least 21 years old.

PERMANENT INCOME

The applicant must have a reliable and consistent monthly income source.

GOOD CREDIT SCORE

To qualify for a free for life credit card, the applicant must have a decent credit score because having a bad one can lead to rejection of application.

Free For Life Credit Cards: Features and Benefits

Everyone enjoys receiving free gifts, regardless of their financial status. Why pay more when the applicant may take advantage of the available perks for free? Free for life credit cards may seem too good to be true for some credit card applicants. They can get wonderful perks without having to pay yearly fees with the lifetime free credit card. While the perks and features of a free for life credit card may differ from one card to the next, here are some of the more common ones.

Free For Life Credit Cards

BUY ONE GET ONE OFFERS

Cardholders with free for life credit cards can take advantage of a variety of Buy One Get One deals across the Middle East and Africa, including leisure, hotels, restaurants, and entertainment.

DINING PERKS

Cardholders receive substantial discounts at a number of eateries.

AIRPORT LOUNGE ACCESS

Members of the basic and supplementary cards have unlimited access to some airport lounges.

MINDFULLNESS

Annual membership fees, late fees, over-limit fees, and cash advance fees are all waived with a lifetime free credit card. As a result, it gives the cardholder complete piece of mind.

SUPPLEMENTARY CARDS ARE AVAILABLE FOR FREE

Cardholders are entitled to an unlimited number of supplementary cards for their family members at no additional cost.

Factors to consider while selecting the best Free for Life Credit Cards

Despite the fact that the market is flooded with free for life credit cards, picking the ideal one might be difficult. The benefits and characteristics of all lifetime free credit cards are different. Selecting a card that meets the cardholder's needs can be tricky. Here are some considerations to make while choosing the finest lifetime free credit card.

UPGRADES THAT ARE CHARGEABLE

Keep in mind that certain lifetime free credit cards have a policy of upgrading their services from time to time, so keep that in mind while choosing a free for life credit card. All of these upgrades may or may not be required, and they may or may not be charged. The applicants must check the card's terms and conditions for all charged upgrades. It will assist them in making an informed selection.

EXAMINE THE OFFERS OF VALIDITY

While lifetime free credit cards offer a variety of benefits, prizes, and discounts to cardholders, not all of these offers and perks are guaranteed for life. After a few months or days, credit card issuers may adjust the advantages offered on the card. So, before you choose a card, read the tiny print carefully.

 

BONUS FOR REGISTERING

Registration bonuses are used by credit card firms that give free-for-life cards to entice new clients to join their company. Before you choose a credit card business, you must examine numerous sign-up incentives and conduct due investigation. Choose the company that provides you with the most benefits and stick with them.

PERCENTAGE OF REWARDS

These credit cards provide a bigger worth of rewards and points each time you use your card, implying that your payback must be increasing with each purchase you make.

PERSEVERANCE

When choosing a credit card, always consider the long term. The long-term advantages of credit cards outweigh the short-term advantages. The long-term rewards will pay out in the end, and the current credit card's short-term benefits will be irrelevant. In the event that you decide to switch credit card providers in the middle of a payment cycle, even if you haven't paid off all of your debt, you must also consider essential elements such as the card's balance transfer charge.

Conclusion

In the end we can conclude with the fact that the concept of Free for Life Credit Cards is a desirable option and can cater you with the benefit of nonpayment of annual interests charged by the card issuing bank along with several other considerable benefits. Even though it is not such a huge amount in many instances but money saved is money earned!

Why Dhanguard?

Dhanguard is a one-stop shop that provides a wide range of financial solutions to fulfill the needs of UAE residents. It allows candidates to learn about numerous financial products and compare them based on a variety of criteria. It assists customers in locating the greatest credit card in the UAE that best suits their budget and financial needs. Those looking for the greatest free for life credit card in the UAE can visit Dhanguard’s official website and compare several lifetime free credit cards in just a few seconds.

 

By Sakshi Srivastava

18-Jun, 2021

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Credit Card Related FAQ

Frequently Asked Questions

  • How to Apply for a Credit Card?

    You can apply for credit card online by visiting Dhanguard and selecting type of credit card as per your requirement. We will further assist you with the process and requirement as per your requirements.

  • What is the eligibility Criteria for Credit Card in UAE?

    According to the UAE Central Bank regulations, any individual should earn a minimum salary of AED 5,000 per month to be considered eligible for credit card. Also, the Debt Burden Ratio of the consumer should not exceed 50%, to be eligible for a credit card.

  • What is the late fees applicable on late payment for Credit Card?

    Late payment fees are charged by banks if the minimum payment due on a credit card is not received on or before the payment due date. It vary from bank to bank but is generally about AED 250 per month.

  • What is Sharia Compliant Credit Card?

    As per the Shariah law, some banks in the UAE offers Shariah Compliant Credit Cards. This type of Islamic credit card stringently follows shariah principles that charges profit rate instead of interest rate as Riba is sternly prohibited as per the Islamic law. Though, Shariah Islamic credit card works similarly like a traditional credit card but with minor difference in the offered benefits.

  • What are the features of Credit Card?

    The credit card has a fixed credit limit, grace period, annual percentage rate, annual fees and bifurcation in offered benefits.

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