Personal Finance Term
Annual Fee Waiver
A condition under which a credit card's annual fee is waived, typically requiring a minimum number of transactions or a minimum spend amount within a 12-month period.
Most Malaysian credit cards that charge an annual fee offer a waiver condition. Common examples: 'waived with 12 swipes per year' or 'waived with RM12,000 annual spend'. Cards marketed as 'free forever' or 'no annual fee' carry no waiver requirement — the fee is simply zero.
If you forget to meet the waiver condition, the annual fee is automatically charged. You can call the bank and request a manual waiver — most banks will accommodate for long-standing customers who missed the threshold, but it is not guaranteed. Always track your waiver progress 1–2 months before your card anniversary.