Forgetting to pay a bill? We’ve all been there. But missing your credit card’s annual fee can lead to unnecessary charges. Here’s how to stay ahead of it:
1. Get a No Annual Fee Card
The simplest solution? Choose an LTF (Lifetime Free) card! No fee, no stress. If you already have a paid card, ask your bank if they can downgrade it to a no-fee version.
2. Set Calendar Reminders
Mark your renewal date in Google Calendar or Apple Calendar. Set multiple alerts a few weeks before the fee is due.
3. Request a Waiver
Many banks waive annual fees if you simply ask. Call customer care and check if you’re eligible for a waiver. It’s worth a try!
4. Automate Tracking
Use apps to monitor upcoming charges. Some banking apps notify you in advance—enable alerts so you never miss a due date.
5. Maximize Card Benefits
Some cards offer travel credits, cashback, or reward points that offset the fee. Check if your card provides such perks and make the most of them!
6. Cancel If Needed
Not using the card? Cancel it before the fee hits—usually 30-60 days before renewal. But be aware that closing a card may slightly impact your credit score.
Pro tip: Always review your card benefits before deciding to pay or cancel. Are the perks worth the fee? If not, downgrade or switch to a better option!