Many credit cardholders overlook the annual fee associated with their cards, but you can often get this fee waived with a little planning. Most banks offer to waive the annual fee if you spend a specific amount during the year. Here’s how you can do it:

How Does the Annual Fee Waiver Work?

Let’s say your credit card has an annual fee of ₹1,000. Some banks offer an option to waive this fee if you spend a certain amount during the year, usually during the anniversary year. For example, if you spend ₹3 lakh within the year, your bank may waive off that ₹1,000 annual fee for the next year.

Cards That Offer Annual Fee Waivers:

1. Axis Ace Credit Card:

   • Annual Fee: ₹499
   • Waiver Condition: Spend ₹2 lakh annually.

2. Axis Bank Rewards Credit Card:

   • Annual Fee: ₹1,000
   • Waiver Condition: Spend ₹2 lakh annually.

3. Airtel Axis Bank Credit Card:

   • Annual Fee: ₹500
   • Waiver Condition: Spend ₹2 lakh annually.

4. Axis Bank Freecharge Plus Credit Card:

   • Annual Fee: No fee for spending ₹50,000 in the anniversary year.

5. Flipkart Axis Bank Super Elite Credit Card:

   • Annual Fee: ₹500
   • Waiver Condition: Spend ₹2 lakh annually.

Tips:

• Track Your Spending: Keep track of your spending to reach the required amount to get the fee waived.
• Choose Wisely: Some cards may also offer additional benefits, like rewards or cashback, for spending a certain amount, making it worthwhile to meet the target.

In case you are not planning to hit the spending threshold, look for cards that come with no annual fee, offering a more budget-friendly option.