1. That's what you said: free annual fee for life. The credit card issuing bank he refers to does not charge the cardholder a certain fee every year. It is common to charge an annual fee for credit cards, but due to different grades of credit cards, different issuers and different types of credit cards, the standards for charging annual fees are different. Credit cards are usually valid for three years. If the annual fee is exempted within the validity period, it means that there is no need to pay the annual fee within three years, but after three years, the bank has the right to change the policy of charging the annual fee, such as continuing to exempt the annual fee.
2. There are many cases where credit cards are free of annual fees. What he means is that the annual fee cannot be waived for life, only for a period of time. For example, some credit card banks will require users to swipe their cards five or six times a year, so they can be exempted from the annual fee for the current year, or some banks will stipulate that the annual fee for credit cards will be exempted in the first year and how many times to swipe their cards from the second year, such as six or five times. Some banks will directly stipulate that the annual fee for credit cards will be exempted in the first and second years.
Finally, there is a kind of gold card or platinum card, which is inevitable no matter how many times the user swipes it, even if the annual fee is inevitable in the first year. These cards are for the rich.
The above is my understanding of credit cards. I hope I can help you. Thank you!