Best Credit Cards with Perpetual Annual Fee Waivers 2020

MoneySmart has consolidated a list of credit cards with perpetual annual fee waivers for you to choose from. Pick the ones that suit your needs the most!

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For Cashback

Standard Chartered Simply Cash Card

  • Min. Annual Salary

  • Cash Back on Local Spend

  • Miles Conversion (Local Spend)

Holders of priority banking/premium banking/bonus payroll can enjoy perpetual annual fee waiver for the principal card. Enjoy 1.5% cashback for local spending and 2% for overseas spending.

Welcome offers: Up to HK$1,100 cashback.

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For Air Miles

BOC i-card

  • Min. Annual Salary

  • Cash Back on Local Spend

  • Miles Conversion (Local Spend)

Enjoy perpetual annual fee waiver. Earn 10x points for online shopping and spending in designated categories.

Welcome offers:Enjoy up to HK$500 free spending credit/interest-free cash instalment loan up to HK$80,000

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For Shopping Discounts

Hang Seng enJoy Card

  • Min. Annual Salary

  • Cash Back on Local Spend

  • Miles Conversion (Local Spend)

Enjoy perpetual annual fee waiver. Earn 1% enJoy Dollars rebate (HK$200 = $2 enJoy Dollars) at the designated merchant, which can be used as cash to offset spending.

Welcome offers: Enjoy up to $400 enJoy Dollars and HK$3,500 designated merchant coupons.

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Things you need to know about annual fees:

Things you need to know about annual fees:

Request annual fee waiver by phone

Cardholders can request an annual fee waiver through the hotline. Some banks allow you to make this request through the automated phone system. You can easily do so by following the instructions. You can also request an annual fee waiver to a customer service representative.

Minimum spending requirements

Some credit cards offer an annual fee waiver if cardholders can meet the minimum spending requirements. It is worth finding out what the minimum requirement is. If you cannot meet the requirements, you can still try calling customer service hotline and try to have your annual fee waived.

Offset annual fee with points

Some credit cards allow cardholders to offset annual fee with points. But it is best to call the customer service hotline and request annual fee waiver first before redeeming your points for an annual fee waiver.

Credit Cards with Perpetual Annual Fee Waivers Frequently Asked Question

  • What should applicants be aware of when applying for credit cards with perpetual annual fee waivers?

    Applicant should check if the annual fee waivers apply to all applicants and whether it is applicable to both principal and supplementary cardholders. For example, Standard Chartered Simply Cash only offers a perpetual annual fee waiver to holders of priority banking/premium banking/bonus payroll. Moreover, it is only exclusive for principal cardholders. In other words, if you would like to apply for a supplementary card, you will need to pay for the annual fee for the extra card.
  • Do some cards only offer first-year annual fee waiver?

    It depends. Annual fee waiver could be one year, two years or forever. But it is usually only applicable to new applicants.

  • Can the annual fee be waived?

    Cardholders can request an annual fee waiver through the customer hotline. Some banks allow cardholders to make this request through the automated phone system. You can easily do so by following the instructions. Alternatively, you can also speak to a customer service representative and try to have it waived.