THESE 6 popular credit cards charge annual fee lower than ₹1,000. Check list here

Do you want to get a new credit card but do not intend to pay a high annual fee for it? Usually, plain vanilla credit cards do not charge any annual fee. On the other hand, premium cards charge an exorbitant fee. Meanwhile, the cards which charge a small annual fee fall somewhere between these two extremes of free and premium cards.

Here, we give a lowdown on some of these credit cards which charge a small fee –  below ₹1,000 a year.

6 cards which charge annual fee lower than ₹1,000

I. Flipkart Axis Bank Credit Card: This card’s annual fee is ₹500 and annual fee is waived off on annual spend greater than ₹3.5 lakh.

II. HDFC MoneyBack+ Credit Card: This card by HDFC Bank charges ₹500 as annual fee which is waived off when you spend more than ₹50,000 in a year before renewal date.

III. SBI SimplyCLICK Credit Card: This card by SBI Card charges an annual fee of ₹499 per year. When you spend ₹1,00,000, you can get your annual fee reversed.

IV. Kotak IndianOil Credit Card: This card by Kotak Mahindra Bank charges ₹449 as annual fee which is waived off on spending ₹50,000 in the previous year, reveals Kota Mahindra Bank's website.

V. Airtel Axis Bank Credit Card: This card by Axis Bank charges ₹500 as annual fee which is waived off when annual spends are greater than ₹2 lakh.

VI. BPCL SBI credit card: This card by SBI Card charges ₹499 as annual fee. And it gives 2,000 activation bonus reward points on payment of joining fee.

Notably, each credit card has its own set of features and offers. The decision to opt for one card over the other could be determined by an interplay of several factors and annual fee is one such factor. Other important factors include banking relationship with the provider, reviews of customers and spending patterns of cardholders.

Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit

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