How to waive the annual credit card fee? Check out the annual fee-free plans from major banks!

As the competition for credit cards becomes increasingly fierce, banks are beginning to use various tricks to attract customers. As the annual fee is something that everyone is more concerned about, banks have also formulated different annual fee exemption plans. Some platinum cards can even waive the annual fee. Many friends still don’t know how to waive the annual fee, so let’s take stock of the annual fee-free plans of various banks!

1. Bank of China

Regular card and gold card: annual fee is waived in the first year, and the annual fee for the next year is waived by swiping the card 5 times.

Platinum Card: The annual fee is comprehensive in the first year. The next annual fee is waived if you make 12 transactions of 20,000 yuan or more, and you can also use 100,000 points to deduct it. Applicable card types: including UnionPay Platinum Card, dual-standard card Platinum Card, Urban Colorful Platinum Card

2. Agricultural Bank of China

Common Card, Gold Card: Annual fee is waived in the first year of card opening, and annual fee is waived for the following year if the card is swiped 5 times or more.

Platinum Card: The annual fee for the following year will be waived if you swipe the card 30 times in a year.

3. China Construction Bank

Common Card and Gold Card: Spend 3 transactions (consumption/cash withdrawal) in the year to avoid annual fees for the following year.

Platinum Card: If you make 10 purchases or cash withdrawals in a year, the annual fee for the next year will be waived.

4. Industrial and Commercial Bank of China

General card and gold card: The annual fee is waived in the first year, and the annual fee for the next year is waived if the cumulative consumption is 5 times or the consumption amount is 5,000 yuan.

Platinum Card: The annual fee is waived for the next year if you spend a total of RMB 200,000 on the card, and you can waive the annual fee for life if you spend RMB4 million on the card.

5. China Merchants Bank

Principal Card and Gold Card: If you accumulate 6 purchases of any form or 5,000 yuan in a year, the annual fee for the next year will be waived, and you can make online purchases.

Platinum Card: 10,000 points can be used to offset the annual fee. Although it is only 1 point for 20 yuan, you will get 10 times the points on your birthday.

6. China CITIC Bank

Regular card and gold card: If you swipe the card once within one month of opening the card, you will be exempted from the annual fee for the current year, and if you swipe the card 5 times, you will be exempted from the annual fee for the next year.

Platinum Card: The annual fee is not waived in the first year, but can be deducted with points in the following year. For example, the i Platinum Premier Card can be used for 450,000 points or 220,000 points for 1,000 yuan.

7. Shanghai Pudong Development Bank

Principal card and gold card: If you make one purchase with the card within 2 months, the first year will be waived. If you make 5 purchases with the card or have a foreign currency purchase, you will be exempted. The following year.

Little Platinum: A first-year annual fee is required after activation. The annual fee for the next year will be waived if there are 18 valid transactions or an amount of RMB 50,000.

Here we introduce to you how to waive annual fees for credit cards. Some annual fee-free plans are only for certain card types. You can ask customer service for specific annual fee standards and plans.

How can I avoid deducting annual fees on my credit card? Just do two things well

The annual credit card fee is equivalent to the management fee and is charged every year. Many cardholders do not want to pay this fee and ask how to avoid deducting the annual fee from their credit card? In fact, it is very simple, as long as you do two things, you can easily solve it. Here I will give you a brief introduction. Card friends who have similar questions may wish to learn more about it together.

How can I avoid deducting annual fees on my credit card?

1. Apply for ordinary credit cards

Ordinary credit cards refer to credit cards below platinum card, that is, ordinary card and gold card.

Although regular cards and gold cards also have annual fees, the annual fees are not rigid and will not be deducted if the card is not activated after application. After activation, it is generally as long as the reduction conditions are met before the annual fee is settled. No fees will be charged. Platinum cards mostly have a rigid annual fee. If the card is approved successfully, the annual fee will be deducted even if it is not activated, and most of them cannot be reduced.

2. Remember the annual fee settlement time

After activating an ordinary credit card, you should also pay attention to the annual fee being deducted, because even if the annual fee can be reduced or exempted, the cardholder still needs to meet the requirements. This condition is sufficient. The annual fee is not automatically waived if you do nothing. For most ordinary credit cards, the number of card swipes reaches a certain limit before the annual fee is settled.

So cardholders must first remember the annual fee settlement time of their credit card. Many banks use the card validity period as the basis, some use the card activation date, and some use the card issuance date. Please refer to the card issuing bank for details.

What should I do if my annual fee is deducted?

The annual fee deducted will generally be included in the latest bill balance. Cardholders must repay the money before the end of the repayment date to avoid overdue payment.

If the annual fee is deducted for a non-rigid annual fee card, after successful repayment, call the bank customer service to inquire whether the annual fee can be refunded.

The above is the relevant introduction to "How to avoid deducting annual fees on credit cards". I hope it will be helpful to everyone.

How to waive the annual fee for a credit card? How to waive the annual fee for a credit card?

Many friends will say, isn’t it very simple to waive the annual fee for a credit card? If you use the regular card or gold card enough times each year, you will not be charged an annual fee next year. This is a common annual fee exemption method, but today we introduce the annual fee exemption method, which is to waive the annual fee through the loading function of some special credit cards.

As we all know, most banks stipulate that the annual fee-free policy for regular cards and gold cards requires a certain number of purchases to be exempted from the annual fee for the next year. However, cardholders often fail to pay the annual fee because they do not use the cards enough times. Even if you are charged an annual fee, if you have an IC credit card with a loading function, you can also avoid the annual fee by using the loading method.

So, what is transfer?

Many card friends may have never heard of this transfer, so let me educate you about it.

1: Loading is electronic cash small payment

2: For example, if you have a card with a limit of 10K, you can transfer 1K to load. The upper limit of loading is 1K, each time The upper limit of consumption is 300

3: There is no need to enter a password or sign when making a transfer

4: A transfer means depositing money in, and conversely, a withdrawal is a transfer withdrawal.

5: You cannot see the deposited money and details in online banking (such as this), and you cannot withdraw it, you can only go to the counter

6: No reminder when swiping the card

7: For example, if you have a card with a limit of 10K, and you transfer 1K to load it, your limit will become 9K, but if you transfer money into it, it must exceed 10K (that is, the amount exceeding the load) to be considered an overage. You have to pay before you can transfer it out, but the balance is positive as long as it exceeds 9K.

How to use transfer to waive the annual fee?

Different banks have different natures for load-up transactions on UnionPay credit card chip cards, but for most banks, the nature of the load-up is that it is a consumption without points, but it will still be recorded in the bill, and it will also be charged. Repayments need to be made on time.

The following will take China Guangfa Bank as an example to explain. Guangfa Bank counts the number of purchases as the number of transfers. The annual fee exemption policy for ordinary credit cards of Guangfa Bank requires 6 purchases to be exempted from the annual fee for the next year.

If you don’t use the card often and are afraid that you won’t be able to reach the number of swipes, you can cleverly use the transfer to avoid the annual fee. To specifically do this, as long as you deposit 0.01 yuan 6 times at the beginning of the year, and then repay 0.06 yuan before the repayment date, the annual fee will be waived. I personally consulted Guangfa Bank's credit card customer service and verified that this method works.

However, not all banks can use this method to waive annual fees. For example, ICBC, although the credit limit of their credit card will occupy the credit limit, it will not result in real transactions. And there is no need to repay, the consumption must be counted after the electronic cash flash pass transaction.

How to waive annual fees for credit cards

Some banks stipulate that the annual fee can be waived if you use it six times, some banks stipulate that the annual fee can only be waived if the cumulative consumption reaches 5,000 yuan, and some banks stipulate that the annual fee reaches 3,000 yuan. Points can waive the annual fee. Faced with the various annual fee rules for credit card applications from different banks, cardholders should first ask how high this "potential cost" is when applying for a card.

Banks are not allowed to charge annual fees before the credit card is activated by the cardholder. Different types of credit cards have different annual fee exemption methods. Regular cards and gold cards can generally directly waive the annual fee for the first year. The annual fee is also waived when the cardholder swipes the card a certain number of times. However, high-end credit cards such as platinum cards have relatively high annual fees, and the reduction method must be subject to the regulations of the card issuer.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the specified credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”

Product Origin:

Credit Card The earliest credit card appeared at the end of the 19th century. In the 1880s, the British clothing industry developed so-called credit cards, and the tourism and business sectors followed suit. However, the cards at that time could only be used for short-term commercial credit, and the money still had to be paid as and when used. Long-term arrears were not allowed, and there was no credit line.

A credit card is generally a special carrier plastic card with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. The name of the card issuer, validity period, number, cardholder name, etc. are printed on the front, and there is a chip on the back. Magnetic strip, signature strip. Cardholders can use their credit cards to shop and spend money with special entities and deposit and withdraw cash from banks.

It is said that one day in the 1950s, American businessman Frank McNamara was entertaining guests for a meal in a New York hotel. After the meal, he found that he had forgotten his wallet and had to call his wife to bring cash. McNamara came up with the idea of ??starting a credit card company because he felt embarrassed about paying the bill at a restaurant. In the spring of 1950, McNamara and his friend Schneider invested US$10,000 to establish the "Diners Club" in New York, the predecessor of Diners Club. Diners Club provides members with a card that can prove their identity and payment ability. Members can use the card to record their purchases at 27 designated restaurants without having to pay cash. This is the earliest credit card. This kind of credit card that does not require bank processing is a commercial credit card.

How to waive the annual fee for a Bank of China credit card?

The Bank of China UnionPay Logo Gold Card is exempt from the annual fee for the first year, and the annual fee for the following year is waived for 5 purchases in the current year. For gold cards with single logos from other card organizations except UnionPay, apply before December 31, 2020, and the annual fee will be waived during the validity period of the card. The UnionPay Platinum Card is exempt from the annual fee for the first year, and the annual fee for the following year is waived for purchases of RMB 20,000 equivalent and 12 transactions in the same year.

The above content is for your reference, please refer to actual business regulations.

Do I need to pay the annual fee if my credit card is not used? One trick to teach you how to reduce or reduce the annual fee

The annual fee is actually the management fee of the credit card, and it is also a prerequisite for enjoying the benefits. It is charged every year. Many cardholders think that they don’t have to pay the annual fee if they apply for a credit card, but they don’t use the card. And if we really do this, the consequences will be very serious, so we might as well see if there is any way to reduce it.

Do I need to pay the annual fee if my credit card is not used?

As long as the credit card is successfully applied for and the account is not closed, the annual fee must be paid within the specified time regardless of whether it is used or not.

You don’t need to be so entangled, this is actually similar to many scenes in our lives. For example, community property fees can be collected on a monthly or annual basis, but you will not be denied payment because you do not live in the community; another example is parking fees, in addition to daily charges, monthly or annual subscriptions are also available. You will not be given a deduction just because you did not park your car this month.

However, the annual credit card fee is generally deducted from the credit limit. After deducting the fee, it is considered a payment if you repay it on time. Of course, if you meet the annual fee reduction conditions during the annual fee cycle, you don’t need to pay the annual fee.

I would like to remind everyone here that you must remember to repay the annual fee on your credit card, otherwise your credit report will be affected if it is overdue, and you will also be charged penalty interest and liquidated damages.

If you feel that you paid the annual credit card fee unfairly, you can call the bank’s customer service after repayment to inquire whether the annual fee can be refunded. Generally, cards with non-rigid annual fees can be refunded after the annual fee is deducted as long as the bank conditions are met. For example, regular cards and gold cards only need to recharge the number of times, and the bank will refund the annual fee when the standard is reached and include it in the first bill.

In short, you must pay an annual fee regardless of whether you use a credit card. However, there is a chance that the annual fee will be refunded. You must meet the conditions for annual fee reduction in advance.

That’s it for the introduction of how to avoid paying annual credit card fees.