Synopsis: Many credit cards charge an annual fee, but several issuers waive this fee if users cross a certain spending threshold within a year. Opting for a card with a lower annual spend requirement can make the card feel almost free. Here are five credit cards in India with low annual fee waiver thresholds that are easier to maintain for moderate spenders.
Credit cards in India often come with annual fees ranging from ₹499 to near or above ₹1,000, but banks usually allow cardholders to waive this fee if they meet a minimum yearly spending requirement. Those who want to enjoy credit card rewards without worrying about renewal charges need to select a card with a low fee-waiver threshold.
Some entry-level and co-branded cards allow the annual fee to be waived with spending as low as ₹25,000 to ₹50,000 per year. This means spending of roughly ₹2,500 to ₹4,200 per month. Check the cards below that fall into this category and from which bank they are offered.
1. IndianOil Axis Bank Premium Credit Card
- Joining Fees: ₹1000 + taxes
- Annual Fees: ₹1000 + taxes
- Annual Fee Waiver: Annual fee is waived on an annual spend of ₹30,000
- Card Type: Fuel Card
Benefits
- Welcome benefit of 500 EDGE Miles on spend under the initial 30 days
- 6 EDGE Mile for every ₹150 spent at the IOCL fuel outlet
- 1% unlimited fuel surcharge waiver on fuel purchase at the IOCL outlet
- 2 EDGE Mile on Every ₹150 spent at the grocery store and supermarket
- 1 EDGE Mile on Every ₹150 spent uncapped
2. BOBCARD Easy Credit Card
- Joining Fees: ₹500
- Annual Fees: ₹500
- Joining Fee Waiver: Spend an amount of ₹6000 in the first 60 days
- Annual Fee Waiver: Annual fee is waived on an annual spend of ₹35,000
- Card Type: Reward Card for Everyday Use
Benefits
- Welcome benefit of 500 reward points on spending ₹5000 within the initial 60 days
- 5X reward points on every ₹100 spend at departmental stores
- 5X reward points on every ₹100 spend at movies
- 1% fuel surcharge waiver on spend between ₹400 to ₹5000 (capped at ₹250)
- 1 reward point per ₹100 spent on other categories
- 1 reward point is equal to 0.20
3. Nainital Renaissance BOBCARD
- Joining Fees: ₹0
- Annual Fees: ₹250
- Annual Fee Waiver: Annual fee is waived on an annual spend of ₹25,000
- Card Type: Reward Card
Benefits
- Welcome benefit of 500 reward points on spending ₹5000 within the initial 60 days
- Up to three free-of-charge add-on cards provided
- Free personal Air accident coverage of ₹15 lakhs
- Non-air accident insurance coverage of ₹5 lakhs
- Up to 50 days of interest-free credit
- 1% fuel surcharge waiver on spend between ₹400 to ₹5000 (capped at ₹250)
- Reward points are redeemable as cashback
- 1 reward point is equal to ₹0.25
Also Read: Up to 50% Discount at Restaurants: Check This Lifetime Free Credit Card Offering Huge Dining Savings
4. HDFC Bank UPI Rupay Credit Card
- Joining Fees: ₹99 + applicable taxes.
- Annual Fees: ₹99 + applicable taxes.
- Annual Fee Waiver: Annual fee is waived on an annual spend of ₹25,000
- Card Type: Rupay Reward Card
Benefits
- 3% cashpoints on groceries, supermarket purchases, dining out, and Payzapp spends
- 2% cashpoints on utility spends
- 1% cashpoints on other spends (exclusions present)
- Interest-free credit for up to 50 days
- Zero fuel surcharge benefit
- 1 cash point is equal to ₹0.25
5. HDFC MoneyBack+ Credit Card
- Joining Fees: ₹500 + applicable taxes.
- Annual Fees: ₹500 + applicable taxes.
- Annual Fee Waiver: Annual fee is waived on an annual spend of ₹50,000
- Card Type: Reward Card
Benefits
- 10X cashpoint on Flipkart, Swiggy, Reliance, Bigbasket
- 2 Cashpoints per ₹150 on other spends
- 500 reward points upon successful payment of the joining fee
- 1% fuel surcharge waiver on spend between ₹400 to ₹5000 (capped at ₹250)
- Interest-free credit for up to 50 days
- ₹500 worth voucher as a gift on total spends of ₹50,000 per calendar quarter
- 10% off on Swiggy Dineout, additionally
- Cashpoint value in Product Catalogue up to ₹ 0.25
- Cashpoint value in the unified SmartBuy Portal (on Flights/ Hotel Bookings) is up to ₹ 0.25
- Cashpoint value in CashBack is ₹0.2
- Cashpoint value in Airmiles is 0.25 airmiles
Comparison Table
Conclusion
Selecting a credit card with a low annual fee waiver requirement can significantly reduce the cost of holding a card. The card would still allow users to benefit from rewards, cashback, and interest-free credit without paying a yearly fee. As the comparison shows, several entry-level cards in India allow the renewal fee to be waived with annual spending between ₹25,000 and ₹50,000.
