Failed to swipe the card 6 times within a year. The annual fee for the China Merchants Bank Gold Credit Card is 300 yuan per year, but there is a no annual fee policy. As long as the card is swiped 6 times in a year, the annual fee can be waived. If the cardholder does not use the card six times within a year, 300 yuan will be deducted. Therefore, the reason why China Merchants Bank deducted the annual fee of 300 yuan is that the cardholder did not swipe the card 6 times in a year.