Many banks have offerred me life time free credit cards because of my good credit score. However, there are some banks which did not offer any life time free credit card. However they offer credit cards against fixed deposit. That is, we need to open a fixed deposit with them and some percentage of fixed deposit amount is offered as credit limit for the life time free credit card. I was guessing if this a good idea to obtain life time free credit card if those banks are not offerring one. Is there anything bad to obtain card in this way, say any bad effect on credit score etc.
PS1: Dont worry about my spendings habbit. They are unaltered despite of large number of credit cards I hold. I keep so many cards only to ensure I wont have to search someone with the card when there is some offer on the item I "need" to purchase. Also I hold only life time credit cards to even avoid annual fees.
PS2: Recently, I was also thinking to open FD to keep my liquid money. I used to park it in short term debt funds earlier. But since couple of years, debt funds category seems to have become more risky. So I was thinking if its finally to time to turn to FD for min-risk return, despite of low returns. So while searching I came to know about this category of cards first time and started feeling its best idea to have both some returns on idle money plus life time credit card.