In Singapore usage of credit card is very high. People prefer credit cards over cash as they are easy to carry and hassle free. They enjoy all the facilities provided by the credit card Singapore whether its discounts, reward points or even cash back. There are number of Singapore credit card service provider present in the market. Choosing the right one is very important.
There are various factors to be kept in mind before finalizing the decision. One of the major factor which needs to be considered is the annual fee associated with the credit cards. Annual fee is the amount charged by the service provider at the end of the year. However, this fee is not charged to the customer for the first year.
Banks charges this fee for the various services provided by them. These facilities include balance transfer as well as cash transfer facilities.in addition,the fee includes maintenance fee, card replacement in case of breakage or when card gets lost. However, there is a “call away” method through which these credit card fees can be waived off. Getting fees waived off is a very common request faced by the service providers. Decision regarding waiving off annual fee generally depend upon factors like payment regularity, how often card gets used and how much amount the owner has spent from the card.
Best Singapore credit card provider generally don’t waive off this annual fee. However other banks keep a spending threshold, on basis of which this fees can be waived off. To handle queries related waiving off annual fee banks have started using automated waiver system. If the machine fails to waive off the annual fee, then there is always an option of going to bank is available. With the help of a good reasoning this annual fee can be waived off.
In case owner does not want to pay the annual charges the only option left will be getting card cancelled.