The biggest question for people using credit cards is how to save annual fees. Many credit card companies charge annual fees, but do you know that this fee can also be avoided? If you adopt the right method, then a credit card with annual fees can also be used for free. Let's know how.

Method to get annual fees waived off

Most credit card companies set a spending limit. If you spend up to that limit in a year, then your annual fees are waived. For example, if the annual fee of your card is ₹ 1000 and the bank has said that it will be waived off if you spend up to ₹ 1,00,000, then all you have to do is to cross this limit in a year. After this, the bank itself will remove your annual fees and you will be able to use the card for free.

Choose a card with a low waiver limit.
The waiver limit of every bank is different. Some banks waive off annual fees on spending ₹1,00,000 annually, while some give waivers on spending up to ₹50,000. This limit can be more or less for different banks. In such a situation, you should choose the card whose waiver limit is low so that you can easily spend up to that limit and avoid fees. There are also many Zero Annual Fee credit cards, which you can use without any charge right from the beginning.

Use credit cards for necessary expenses.

To get annual fees waived, use a credit card for necessary expenses instead of unnecessary spending. Use the card for expenses like gas, electricity, mobile bills, grocery, and online shopping so that the waiver limit is easily completed. In some banks' cards, EMI transactions also count in this limit, so you can also look for an EMI option on big expenses.

Talk to the bank at the right time.
If you have spent a lot in a year, but the bank is still charging annual fees, then you can contact customer care. Many times banks offer to waive off annual fees to good customers, especially if you have paid on time and used the card well.

Take advantage of Welcome Benefits and Cashback.
Many times banks charge annual fees, but in return, they give you facilities like Shopping Vouchers, Cashback, and Bonus Points in the form of Welcome Benefits. Even if these benefits are more than your annual fees, your card becomes as free as ever.

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