When having a cash crunch, the biggest rescue you can have is through credit cards. Having a credit card in wallet gives you the power of shopping your favourite stuff as the plastic money enables a number of things for you.
While choosing credit cards, the focus remains very much on the annual fees. Do you know, there are some credit cards that do not charge any annual fees from the cardholders? Top lenders like ICICI Bank, Axis Bank and others are busy offering such cards to add to the growing list of the credit card customers. So, let’s find out those.
Credit Card
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To,TransUnion CIBIL Limited[Formerly known as Credit Information Bureau (India) Limited]One Indiabulls building ,Unit No 1901 – 1905,19th Floor, Tower 2A-2B, Jupiter Mill compound,Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Sub: Grant of Consent
Dear Sirs,
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Wishfin and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
- The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
- I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
- I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
- I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
- I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company
- I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Wishfin authorizing Wishfin to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Wishfin to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Wishfin to obtain my Consumer Credit Information .
- I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.
- By submitting this registration form, I understand that I am providing express written instructions for Wishfin to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Wishfin account. I further authorize Wishfin to retain a copy of my information for use in accordance with [Wishfin’s] Terms of Use and Privacy Policy.
- I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
- I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Wishfin . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
- I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
Yours faithfully,
Name :____________________________Address : ____________________________Date : ____________________________
Credit cards with no annual fee reduce the cost of the cardholder each year, which otherwise would get deducted from the account. A lot of shoppers apply for these cards, which are shown below.
ICICI Bank Instant Platinum Credit Card
ICICI Bank Instant Platinum Credit Card is a lifetime free credit card, comes to you with no annual and joining fees. Available against the fixed deposit of ICICI Bank, the card has a bundle of exciting offers that can let you shop more. You can check out the following offers applicable to the card.
- A discount of upto INR 100 available on booking 2 tickets in a month at bookmyshow portal.
- Reward points earned can be redeemed for cash.
- A minimum 15% saving can be realized while dining at over 800 restaurants thanks to the bank’s Culinary Treats Program.
Axis Bank Select Credit Card
A lifetime free Axis Bank credit card, the select card is specifically designed for the bank’s Burgundy Customers. With no annual and joining fee, the card can prove to be a wonderful experience for the shoppers with the availability of luxury shopping voucher worth INR 1000, along with priority membership pass. Other privileges include the complimentary airport lounges across the globe, complimentary golf round sessions, as well as 15% discount with Dining Delights program. All these and more help experience an enjoyable shopping with the Select card.
HSBC VISA Platinum Credit Card
The card, with no annual and joining fees, comes with a flurry of discounts, rewards, cashbacks, and much more. Catch all that in the points below.
- 2 reward points on a spend of every INR 150
- Earn 5 times rewards on purchases subsequent to crossing the spend of INR 4 lakhs annually.
- Avail extra reward points on shopping at participating Extra partners.
- Regular reward points to be credited as soon as the transaction is posted on the HSBC Systems. Whereas, the extra rewards would be credited within 2 months at the end of purchase month.
- 3X reward points on offer with a spend on dining, telecom and hotels for the first year.
- A 10% cashback available on all the spends within 90 days of the card issue. A minimum spend of INR 10,000 has to be made to avail the cashback. The maximum cashback amount is INR 3,000 per card from 1st July, 2017 to 31st December, 2017.
- For a cardholder to avail the cashback, a minimum of 3 transactions would be necessary. In the absence of the same, cashback won’t be given.
SBI Unnati Credit Card
As soon as Unnati card made an entry, the world went upside down with the announcement of zero annual fee for the first 4 years of the card use. A host of exciting features and convenience sets this card apart from the rest.
All you need is a fixed deposit of INR 25,000 or more with SBI to apply for Unnati card and avail the benefits that are on offer. But before that, take a peek at the attractive features of the card below.
- 1 reward point for every INR 100 spent via card
- Reward point redemption against gifts from reward catalogue
- A cashback of INR 500 if you spend INR 50,000 and above
- 1% fuel surcharge waiver allowed for transactions worth INR 500-3,000 at petrol pumps across India
- Worldwide acceptance with 24 million outlets waiting for you to swipe the card.
IndianOil CITI® Platinum Credit Card
This IndianOil CITI Platinum Credit Card, annual fee is waived off on a spend of INR 30,000 and more in a year. However, if the spend comes below INR 30,000, an annual fee of INR 1,000 would be debited from the account. The card name itself suggests that it would suit the bike and car riders with the availability of fuel surcharge waivers. So, what all those benefits that you do not know? Find them out in the points below.
- Earn 4 turbo points on a spend of every INR 150 towards fuel purchase
- 1 tubo point=INR 1 worth of fuel
- Turbo point is limited to transactions worth upto INR 10,000
- 1% fuel surcharge waiver
- For these benefits to avail, the card needs to be swiped only at Citibank EDCs.
- 2 turbo points given to spends on groceries and supermarkets. The turbo points, here, can be limited to a spend of upto INR 5,000 in a month.
- You can redeem turbo points for free fuel at more than 1200 Indian Oil outlets across India.
- Also, shoppers can convert points to gift vouchers for products and services of several brands.
Take Guard Against Late Payment of Dues
Whatever the bills come, you should look to pay them off in full on or before the due date to avoid the interest charges. Even though you could see an interest rate of 2.5%-3.5% per month across banks in India, the timely payment of the entire bill would immune you from both interest and tax attacks that others face due to non-compliance of the same.
So folks, you scrolled through the credit cards with no annual fee. Find one from the group that fits the best in your case. Also, don’t forget to pay the bills on time to avoid the hassles of paying late payment charges, interest as well as taxes.
