The annual fee exemption for credit card swiping means that banks encourage cardholders to swipe their cards. After swiping their cards for a certain number of purchases, the annual fee will be waived for the next year. Lifetime free annual fees for credit cards means that the credit card issuer no longer charges cardholders a certain amount of fees every year. It is very common for credit cards to charge annual fees.

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, after three years, the bank has the right to change the policy of charging annual fees, such as continuing to waive annual fees, etc. .

Extended information

Although most banks do not have express provisions on the cancellation of annual fees, many banks are more humane about this. As stipulated by some banks, if the cardholder does not reach the number of card swipes without annual fee within the specified time, he can continue to swipe the card for more times. When the card holder reaches three swipes, he can submit an application to the bank to cancel the annual fee.

If the cardholder is close to the annual fee exemption standard, in order to avoid unnecessary annual fees, it is recommended that he call the bank customer service to explain the situation. The customer service will usually provide conditions for offsetting the credit card annual fee, such as within a short period of time. Make up for the number of card swipes, use accumulated points for deductions, etc.

Baidu Encyclopedia-Credit Card Annual Fee Rules

People's Daily Online-Credit Card Annual Fee Waiver is mostly a gimmick. No annual fee but instead include food expenses?