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1. Cardholders generally believe that credit card agencies waive annual fees for the first year and waive annual fees for the following year when the card reaches a certain standard, but this is not the case for all cards. For example, ICBC credit cards are not exempt from annual fees in the first year. Instead, they need to swipe the card a total of 5 times or spend more than 5,000 yuan to be exempted from the annual fee. China CITIC Bank stipulates that only swiping the card once in the first month after the card is issued can be exempted from the annual fee in the first year. .
2. Regarding the rules for exempting the annual fee for the following year, 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 and China Everbright Bank; some banks stipulate that the number of swipes is more, and most Banks, such as ICBC, Agricultural Bank of China, Bank of China, Bank of Communications, China Merchants Bank, etc., adopt the policy of waiving the annual fee for 5-6 brushes.
3. Financial planners from Yinsu.com pointed out that since annual fees are not the main source of income for domestic credit card issuers, banks generally stipulate that annual fees must be waived after a certain number of card swipes, but there is no limit on the amount. . However, there are some banks that impose restrictions on the amount of consumption. For example, Shanghai Pudong Development Bank stipulates that the annual fee for the next year can be waived only if the consumption reaches 2,000 yuan or more.
4. It is also worth noting that the bank’s annual fee exemption rules are not static. The credit card annual fee is based on the time when the annual fee is collected in the first year. It is pushed back 12 months to the following year. When annual fees are charged. Bank of Communications credit card annual fee exemption rules will generally be notified to cardholders by text message at the end of the year or the beginning of the next year. Cardholders need to pay attention to whether the annual fee exemption rules have changed.