Each bank has different rules.
For example, the ICBC credit card does not waive the annual fee in the first year. Instead, it requires a total of 5 card swipes or a consumption of more than 5,000 yuan to be exempted from the annual fee; CITIC Bank stipulates that the card must be swiped in the first month after the card is issued. The first year annual fee can only be waived once.
Some banks stipulate that as long as the card is swiped more than three times, it will be free of charge, such as China Construction Bank [6.20 3.85] and China Everbright Bank; some banks stipulate that the number of swipes is more, such as Shenzhen Development Bank Credit Card, which stipulates that 18 swipes can be exempted. Annual fee.
Most banks, such as ICBC, Agricultural Bank of China, Bank of China, Bank of Communications, China Merchants Bank, etc., adopt the policy of waiving annual fees for 5-6 times.
Extended information
Things to note about credit card annual fees:
1. Credit card annual fee calculation cycle. Many people habitually believe that fees are generally settled at the end of the month, quarter, or year, but this is not how the annual fee of a credit card is calculated.
Some banks postpone the card verification date by one year as the annual fee settlement cycle, some banks postpone the card opening date by 60 days as the annual fee collection time, and some banks use the first bill as the annual fee collection time. day is the starting time. Regulations vary among major banks. Please refer to the time given by the bank branch of your credit card.
2. Some supplementary cards also have annual fees. For some supplementary cards, banks will also charge annual fees, which are determined by the card-issuing bank. However, the annual fee of the supplementary card is not as high as that of the main card. It is usually half of the main card. If you apply for a supplementary card, be sure not to forget to spend or pay the annual fee, otherwise it will cause credit stains if you forget.
Reference: Baidu Encyclopedia-Credit Card Annual Fee Rules