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tfbeginner210

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    Does Axis charge annual fee at the start of the year?

    Unsure if I am being charged for the previous year or the upcoming year - since the Airtel card was approved as FYF.
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    helloworld
    helloworld
    Ok. Examples:

    HDFC, HSBC, AXS or any other card (including SBICard) -- based on my last few years monthly statements, 100% assurance..

    Approved card - Jan'24
    Joining fee - Feb'24 statement (or whenever first statement generated)
    Feb'24 - Jan'25: Calculates whole year spends
    Renewal fee - Feb'25 statement (or in some banks it won't show up because annual spend criteria achieved or in some banks it charged and reversed)
    some other banks reversed after 60 days.

    Next Renewal fee - Feb'26...

    So, each time if you pay renewal fee it is for next 12 months...
    -----------

    This is for all banks and 100% guarantee with mentioned banks.

    ICICI case: they charge fee first (during renewal) and waived off based on next 12 months spends instead last 12 months even though website and MITC mentioned last 12 months only, so thats the case.

    Ignore, all banks charge annual fee 13th month onwards and waived or not depends on last 12 months spends and/or fee status of that card.
    helloworld
    helloworld
    Btw, you might be confused.. some banks interchange terms like

    in one bank its annual fee, in other bank its renewal fee.

    in axs:

    1718382544279.png

    in SBI:

    1718382564998.png

    Here, annual fee = Joining fee and renewal fee = annual fee

    1718382655362.png

    1718382789558.png

    in HDFC:

    1718382842170.png

    Here, renewal = annual fee

    1718382910893.png
    T
    tfbeginner210
    @helloworld - Appreciate your effort. I'm still a bit confused though. I always thought that the Joining Fees are one time fees. However, the above explanation kind of hints that the Joining Fees is actually the Annual Fees charged for the first year and charged at the start; just that they are named Joining Fees.

    Referring to the SBI's case, the way they word the T&C, I get the understanding that the Annual Fee that they were going to charge on the first month after the first anniversary year, was more like a PostPaid scheme, i.e., it is the fee charged for usage over the last 12 months.
    And this is what I assumed was the case with HDFC, Axis, HSBC.
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