Annual fee is charged every year to your credit card for the benefits that bank provides. Annual fee, ranges from AED 500 to 1,000 depending on the benefits provided on the credit card.
Cards usually have an annual fee include cashback credit cards, air travel points, discount on movies & dining credit cards.If you pay an annual fee, make sure the benefit you’re getting from your credit card exceeds that cost.
Waive off Annual Fee
Credit cards are free for first year, after that annual fee is automatically charged to your credit card. After first year, you decide the annual fee isn’t worth it, you can close the account.
Many bank will ask to link your monthly utility payment with credit card and you can enjoy the card benefits free for life.