Whether an annual fee is required for a credit card depends on whether the cancellation conditions are met. Taking the ICBC credit card as an example, if you need to cancel it, you must first ensure that there is no outstanding balance. If the annual fee reduction standard is not met, the annual fee will be charged based on the actual number of months of use. Therefore, it is recommended that cardholders first ensure that they meet the annual fee reduction conditions, such as a total of 5 purchases or 5,000 yuan (or other equivalent foreign currencies) during the year, so as to avoid unnecessary expenses.

ICBC’s annual fee reduction rules are as follows: Personal gold card and regular card users, as long as they meet the above consumption conditions within the card year, the annual fee for the primary and secondary cards will be reduced. It should be noted that the annual fee calculation is based on the date of first activation of the card to the corresponding date in the following year as one card year. Returns of consumption will be deducted from the number of annual fee exemptions, and the return amount will not be included in the annual fee exemption consumption amount. The annual fee rules may be different for B2C transactions on domestic websites, cardless consumption on overseas websites, as well as high-end cards, business cards and some special card types.

In general, before canceling, you should know whether your credit card meets the annual fee reduction conditions to avoid incurring additional fees due to cancellation. If you have any questions, you can call the ICBC customer service hotline 95588 or go to a designated outlet for detailed instructions.