WordsLifetime free
LTF
Short for lifetime free: a card with no joining fee and no annual fee. Banks use the phrase themselves; HDFC Bank’s fee page, for example, says lifetime free pricing goes to select customers at the bank’s discretion.
Only those two fees go, so the interest, late fees and markups in the card’s MITC still apply. RBI’s rules let a bank change a card’s charges with at least a month’s notice, and if a change works against you, you can close the card without an extra charge once your dues are paid.
Where this comes from
- HDFC Bank, Fee Waiver ConditionImportant terms 2, 4 and 5, September 2026 pricing
- RBI, Credit Cards and Debit Cards: Issuance and Conduct Directions, 2025Paragraph 23(7), on changing charges, as updated 1 October 2026
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More words like it
FYF
First year free
No fee for the card's first year. The annual fee starts from the second, unless the card's spend condition waives it.
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Annual fee
What a card charges each year you keep it. Many cards waive it if you spent a set amount in the year before.
More about AFFee waiver
No annual fee this year
The annual fee cancelled for a year, because you spent a set amount or because you asked and the bank agreed.
More about fee waiverJF
Joining fee
A one-time fee for a new card, usually its first year's fee. Some cards waive it for spending a set amount early on.
More about JF
What happened to members, not financial advice. Offers change, so check with the bank. Terms of use