Free annual fee means no annual fee is charged, and lifetime annual fee free means no annual fee is unconditionally waived during the card holding period.

The annual fee for a credit card is a mandatory fee for credit cards. Different levels of credit cards have different annual fees. The higher the level, the higher the annual fee. It should be noted that the annual fee is deducted directly from the credit card limit, and is deducted every year based on the annual fee cycle as the calculation unit. The annual fee deduction time can be calculated from the validity period of the credit card.

However, ordinary credit cards (regular cards, gold cards) can reduce the annual fee based on the number of card swipes. High-end credit cards at platinum and above levels mostly have rigid annual fees, and some can be deducted with points or the amount of card swipes. The annual fee depends on the bank's annual fee policy.

Extended information:

Platinum credit cards issued for high-end people not only have high annual fees, but also almost no annual fees. Since platinum credit card holders can enjoy airport VIP lounge services, golf discounts, discounts at specific hotels and shopping malls, etc. after presenting the card, some platinum credit cards require payment once the card is issued, regardless of whether the cardholder has activated it or not. Annual fee.

For example, on the website of Industrial Bank’s high-end GOLF Platinum Credit Card, you can see an important reminder in bold red text: “Once the card is issued, no matter it is activated or not, an annual fee will be charged; The annual fee will no longer be refunded; Industrial Bank will not be responsible for any adverse impact on personal credit record caused by overdue annual fee. "Lifetime annual fee exemption for credit cards means that the credit card issuer will no longer charge the cardholder a certain amount every year. It is common for credit cards to charge an annual fee depending on the amount of the fee. Because credit cards have different levels, issuing banks, and card types, the annual fee charging standards are also different.

The validity period of a credit card is generally 3 years. If the annual fee is waived during the validity period, it means that there is no need to pay annual fees during these three years. However, the bank has the right to change the annual fee policy after 3 years. , such as continuing to waive annual fees, etc.

The annual fee depends on the value of the credit card's annual fee. Some banks' credit card policy is that 6 transactions per year can be exempted from the annual fee. This has the same meaning as lifetime annual fee exemption. Generally speaking, lifetime Credit cards with no annual fee are easy for cardholders to forget about.

Generally, cards with no annual fee have relatively average benefits, such as slow accumulation of points. Cards that require an annual fee generally have slightly better benefits. If an applicant wants to apply for a credit card, he must choose the one that suits him best. If the functions of no annual fee and no annual fee are similar, then he must choose the one with no annual fee.

Nowadays, most banks waive the annual fee in the first year and reduce the annual fee in the following year after a certain number of card purchases, which is equivalent to "zero annual fee." Another option is to waive the annual fee in the first year, but if you spend a certain amount with your card, the annual fee will be waived for the following year.