4 Ways to Get Out of Your Credit Card’s Annoying Annual Fee

By team gini on July 11, 2019

We’ve all been there — checking your credit card statement at the end of every cycle, only to realise that maybe you’ve spent a little too much on shopping that month! And what’s that? An extra 1800 dollars credit card annual fee that no one’s told you about? What on earth is that?! 

If that’s happened to you before, don’t worry because waiving out of your credit card’s annual fee is a lot easier than you think. Check out these four ways below and say goodbye to paying unnecessary credit card fees forever! 

  1. Calling the Banks

    More often than not, waiving out of the annual fee takes a simple phone call. Sure, it may be slightly annoying having to wait on the line, only to talk to an automated attendant. But if it’s gonna save you more than 1000 dollars, it’s definitely worth it! We’ve even listed out what numbers you should select during the automated phone call to speed up the process! Here are the contact numbers of the banks that would waive your annual fee simply by calling.

    In some cases, the annual fee will be automatically waived once you’ve reached a certain spending amount. Here’s how much you need to spend in order to opt out of the annual fee for some credit cards.

  2. Reach a Certain Spending Amount

    In some cases, the annual fee will be automatically waived once you’ve reached a certain spending amount. Here’s how much you need to spend in order to opt out of the annual fee for some credit cards.

  3. Accumulate Points

    I’m sure many of you are aware of your credit card reward schemes. In fact, a common reward that you can exchange your points with is a waived annual fee. For example, the basic American Express Credit Card requires 45,000 points to waive the annual fee, while the business card requires 100,000 points.

    Source: https://www.americanexpress.com/en-hk/rewards/membership-rewards/Shop/Fee-Waiver

     

  4. Consider Applying for a Credit Card with No Annual Fee

    Alternatively, if you are set on never paying an annual fee ever again, consider switching to one of these following cards who do not charge annual fees. 

    • Hang Seng enJoy Card
    • Hang Seng MPOWER CARD
    • CCB Eye Card
    • AEON Visa Credit Card
    • AEON MasterCard Credit Card
    • BOC i-card
    • BOC Dual Currency Card
    • HSBC Premier Mastercard (for premier customers only)
    • HSBC Advance Visa Platinum Card (for advance customers only)


Annual fees are certainly not the only fees that banks charge you—and it is difficult to keep track of all of them. But don’t worry, gini’s new function reminds you when you’ll need to pay your banks so you’ll never miss a deadline and get fined with that ridiculously high late charge fee.

Download gini on the App Store or Google Play today!


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