The Best No-Annual-Fee Credit Cards for Budget-Conscious Consumers in India (2024)

Credit cards are powerful financial tools that simplify payments, offer rewards, and help build credit. However, many cards come with annual fees that can quickly add up, especially if you’re on a tight budget. For budget-conscious consumers, a no-annual-fee credit card is a perfect option—it saves you from extra charges while still providing essential benefits.

Why Choose a No-Annual-Fee Credit Card?

No-annual-fee credit cards are ideal for:

• First-time credit card users looking to establish credit without fees.
• Budget-conscious consumers who prioritize savings over premium perks.
• Occasional credit card users who don’t rely heavily on rewards but want the convenience and benefits of having a new credit card.

While these cards may not offer premium perks, they still provide valuable features like cashback, reward points, and fuel savings. If you’re unsure which no-annual-fee card matches your lifestyle, Test My Card can help. The platform considers your spending habits and suggests the best credit card for you, eliminating guesswork and simplifying your decision.

Top No-Annual-Fee Credit Cards in India for 2024

1. ICICI Bank Platinum Chip Credit Card

• Best For: Beginners seeking basic rewards and security.
• Features: Earn 2 reward points per ₹100 spent on retail transactions (except fuel) and enjoy added security with its EMV chip.
• Pros: No annual fee; secure chip technology.
• Cons: Limited rewards categories.

2. SBI Unnati Credit Card

• Best For: New credit card users with an SBI account.
• Features: Free for the first four years, with 1 reward point earned for every ₹100 spent. Redeem rewards across multiple categories.
• Pros: Free for four years; straightforward rewards.
• Cons: Limited rewards program.

3. Axis Bank Insta Easy Credit Card

• Best For: Individuals with minimal credit history.
• Features: No income proof required, making it perfect for students and first-time users. Get 15% off at partner restaurants in India and earn EDGE rewards.
• Pros: Accessible to beginners; no income proof required.
• Cons: Limited rewards structure, mainly focused on food discounts.

4. Kotak 811 #DreamDifferent Credit Card

• Best For: Kotak Bank customers looking to build credit.
• Features: A simple rewards structure offering 1 point per ₹100 spent, available to Kotak 811 account holders without income-based eligibility.
• Pros: Easy approval; no fees.
• Cons: Low rewards rate, minimal perks.

5. IDFC FIRST Millennia Credit Card

• Best For: Frequent shoppers and online spenders.
• Features: No joining or annual fee, with up to 10x reward points on specific categories, plus fuel surcharge waivers and dining discounts.
• Pros: High reward rates; no fees.
• Cons: Rewards are capped based on spending category.

How to Choose the Right No-Annual-Fee Card for Your Needs

With so many no-fee options, it’s essential to choose the best credit card for new users that matches your spending habits. Here are some quick tips, and how Test My Card can make this easier:

• Look for Rewards That Match Your Spending: If you mostly spend on dining, consider a card that offers dining discounts. If you shop online frequently, look for options that provide cashback on e-commerce.

  Test My Card’s Take: Enter your spending categories, and Test My Card will recommend the best options that maximize value for your budget.

• Consider Ease of Approval: Some cards have lenient requirements, making them ideal for new or low-income users.

  Test My Card’s Take: Check eligibility criteria for each card quickly and find options you qualify for, reducing the worry of application rejections.

• Check for Additional Perks: Even with no annual fee, some cards offer valuable perks like fuel waivers, dining discounts, and more.

  Test My Card’s Take: Compare perks side-by-side to find the best credit card offer with the most relevant benefits for you.

• Look for Flexibility: A no-fee card shouldn’t mean no flexibility. Check if your chosen card provides rewards that are easy to redeem and use.

  Test My Card’s Take: View detailed insights on rewards redemption and flexibility to know exactly what to expect.

No-annual-fee credit cards provide a fantastic way to start building credit and enjoying rewards without worrying about extra costs. The cards we’ve listed offer a range of features, from beginner-friendly options to more versatile cards with dining and shopping benefits. Choose a card that aligns with your financial habits and start reaping rewards without the burden of an annual fee.

If you’re feeling overwhelmed by the choices, Test My Card is here to help. With personalized recommendations, detailed comparisons, and insights into each card’s benefits, Test My Card ensures you can confidently choose a credit card with good benefits that meet your needs—whether that’s saving on fees, earning rewards, or building credit.

Ready to find the perfect no-annual-fee credit card? Visit Test My Card today and discover the ideal card that fits your lifestyle, spending habits, and budget!

The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.testmycard.com for latest updates.