Currently subscriptions require payment information if automatic renewal is enabled even if the checkout total is zero. We would like to be able to offer a coupon that gives a free month and have the Subscriptions extension create a manual renewal subscription since the discount is the entire fee of the first month.
This is described in the FAQ at http://docs.woothemes.com/document/faq/#section-41
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Last updated: August 15, 2022
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Just a note, this is duplicate of http://ideas.woothemes.com/forums/133476-woocommerce/suggestions/5748332
Please add your votes on that issue.
Given the large number of votes on that other issue, it’s definitely something on our minds and we will be releasing something to take care of this in the future (though it won’t be the near future).