Can credit card spending be exempted from annual fee?
First of all, it depends on whether the credit card can reduce the annual fee through consumption. If not, no matter what kind of consumption, there will be an annual fee.
If you can, it depends on how the major banks determine the consumption of credit cards. After all, the card-binding consumption can be paid through online code scanning or online shopping. Under normal circumstances, it is exempt from the annual fee approved by the bank, but you must swipe your card within the annual fee period.
Then, when will the bank settle the annual fee?
The collection time of the annual credit card fee is generally at three time points: the card issuance date, the card opening date and the first card use date, mainly depending on the bank regulations.
1) card opening date:
ICBC, Bank of China, Bank of Communications, China Guangfa Bank, China CITIC Bank, Ping An Bank, Minsheng Bank and China Everbright Bank all settle the number of credit card swipes on the day of card opening, and the corresponding day of the following year counts as one year.
For example, in March 1 activate the card, and in March of the following year 1 charge an annual fee, and so on.
2) Date of use of the first card:
China Construction Bank will settle the annual fee from the first billing date of the card-holding year.
3) China Merchants Bank:
The date of issuing the card shall prevail, and the corresponding date of the following year shall be one year. For example, the card issuing date is March 1, and March 1 to February 3 1 is one year.