Inactive credit cards are called "sleeping" credit cards. There are two situations, which must be distinguished by card type.

The first situation:

Ordinary credit cards, including standard cards and co-branded cards issued by Bank of Communications, ordinary and gold cards, will not incur annual fees in the first year if they are not activated. However, Bank of Communications does not guarantee that annual fees will not be incurred in the second year. If you select the activation-free option when applying, it will be automatically activated and an annual fee will be incurred. This needs to be noted.

The second situation:

For Platinum Card, you only need to apply for it and get the card after passing the review. So whether it is activated or not, a certain annual fee will be charged. Currently, the annual fee for the Bank of Communications Platinum Card will be charged on the first statement date after the account is activated.

Extended information:

Credit card annual fee exemption rules:

If you apply for a card and don’t use it, you will have to pay the annual fee, which is certainly not cost-effective. The annual fee exemption rules vary among different banks, making it easy for cardholders to incur annual fees unintentionally.

Cardholders generally believe that credit card agencies adopt the practice of waiving the annual fee in the first year and waiving the annual fee in the following year if 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. .

As for 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, such as China Construction Bank [6.20 3.85%] and China Everbright Bank; some banks stipulate that the number of swipes is more For example, the Shenzhen Development Bank Credit Card stipulates that the annual fee for the following year can be waived by swiping the card 18 times. Most banks, such as ICBC, Agricultural Bank of China, Bank of China, Bank of Communications, China Merchants Bank, etc., adopt the policy of waiving annual fees for 5-6 times.

Yinsu.com Financial Planner 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.

It is also worth noting that the bank’s annual fee exemption rules are not static. Staff at the Bank of Communications [8.79 4.27%] Credit Card Center told reporters that the annual fee for a credit card is based on the time the annual fee is collected in the first year.

Pushing back 12 months is the time for collecting the annual fee in the following year. 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.

Baidu Encyclopedia - Credit Card Annual Fee Rules