How to Avoid Annual Charges for Credit Card, Credit cards are becoming a necessity for everyone. List of Credit cards with No Annual Fees. check out list of all Free Credit Cards 2024. With the increasing in online shopping and availability of credit card swiping machine. Anyone can now use the credit card to purchase items and get cash backs and rewards on it. Credit card users like to avail such discounts and cash backs. However, most of them do not like the annual charges they have to pay.
Though many credit cards do not charge any fee once the necessary buying limit is exceeded. However, if the limit is not surpassed the fee often fall on the user. This is not appreciated by many users and they do not buy the credit card because of this provision. Check more details about “How to Avoid Annual Charges for Credit Card” from below….
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How to Avoid Annual Charges for Credit Card
List of credit card with no annual fee
Many cards like premium travel cards or reward cards and other value card usually have annual fees due to the services offered by them.
However thankfully there are other credit cards that do not charge any annual fees.
Like Kotak Bank’s Best Price Card and Easy day card. ICICI Bank’s Instant Platinum card is also good choice. Axis Bank’s Insta Easy also does not charge any money to the users. State Bank of India’s Simply save can also be a choice if the user does not wish to pay annual charges.
HDFC Bank also have lot of credit cards that do not charge any annual fee if the user apply from bank’s website.
Also the foreign banks like Citibank Platinum and Standard Chartered Inner Circle Platinum card do not charge annual fees.
How to avoid Annual Fee
Sometimes the card buyers are not aware of the annual fee. They only get to know about it once they see their credit card statement after a year. However, while choosing for a good credit card the bias of the buyer should be toward the deals provided by the card. There are many non-frequent buyer, buying a no annual fee credit card is a good choice for them. The same is not suggested for regular buyers.
There are many cards which charge very small fee at the end of year. Because the bank need to maintain accounts
Many banks waive off the fee if the spending exceeds a limit. But this usually happen for frequent users. It is beneficial for frequent users if there is no fee but for non-frequent user there is point to waive off the annual fee.
Conclusion
Earlier when credit cards were not used widely there were many banks which did not charge any annual fees. However, in the current scenario, this situation is hard to find. The main reason to charge an annual fee is the maintenance charge. Since banks do not get anything if the user does not use the card. Thus lifetime free credit card with no annual fee is good for frequent buyers. It is good for user who want to avail the discounts and benefits regularly. However, if any credit card company decides to charge an annual fee it is very important that they notify the user about it.
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