A Malaysian's Guide To Waiving Credit Card Annual Fees

Eloise Lau

24th September 2025 - 5 min read

Credit cards can be incredibly useful, offering rewards, cashback, and convenience. But many cards, especially those with better perks, come with an annual fee. While this fee covers the benefits you enjoy, nobody likes paying it if they don’t have to.

Fortunately, getting your annual fee waived in Malaysia is often easier than you think. Banks may waive it automatically if you meet their requirements, or sometimes, all it takes is a simple phone call. Here’s how you can keep your credit cards fee-free.

What Are Credit Card Annual Fees?

An annual fee is a yearly charge some banks add for having and using their credit card. This fee covers the perks that come with the card, such as access to airport lounges, travel insurance, premium reward programmes, and exclusive discounts.

Not all credit cards have an annual fee. Generally, basic or entry-level cards are free for life. In contrast, cards packed with more valuable benefits are the ones that typically require you to pay a yearly fee. The key is to ensure that the benefits you get from the card outweigh the cost of the fee, or better yet, to get the fee waived entirely.

The Easiest Way: Automatic Annual Fee Waivers

Many banks in Malaysia offer an automatic annual fee waiver if you meet a minimum spending amount or a minimum number of transactions within your anniversary year. This is the most straightforward way to avoid the fee, as it requires no action on your part other than using your card as you normally would.

The specific requirements vary significantly from one card to another. Here are some examples from major Malaysian banks to give you an idea of what to expect.

Maybank 2 Gold Cards: These cards are popular because they are free for life, with no conditions attached. There is no annual fee to worry about from the very first year.
CIMB e Credit Card: This card has an annual fee of RM100. However, it is waived if the total annual retail spend from both principal and supplemental cards is more than RM12,000.
Hong Leong Wise Card: The annual fee is RM98. This fee is waived when you spend a total of RM10,000 on retail transactions in a year.
UOB ONE Card: The annual fee of RM195 is waived when you spend a minimum of RM15,000 per annum*, effective 1 January 2026.

Disclaimer: The requirements listed above are accurate as of September 2025. Please be sure to check the latest terms, conditions, and Product Disclosure Sheet (PDS) from your bank, as these can change over time.

Timing is Everything: Understanding Your Anniversary Date

To ensure you meet the waiver conditions, you need to know your timeline. The spending or transaction requirements for an annual fee waiver are typically tracked over a 12-month period, which is often called your “membership year” or “card anniversary year”.

Your card anniversary date is usually the date your card was first activated. The annual fee will be charged to your account on or around this date each year. This means you have the 12 months leading up to this date to meet the spending threshold.

For example, if your card was activated on 20 November 2024, your first anniversary would be on 20 November 2025. You would need to meet the transaction or spending requirement between these two dates. To find your exact anniversary date, you can check your first credit card statement or call your bank’s customer service hotline.

Not All Spending Is Equal: Transactions That Don’t Count

A common mistake is assuming every transaction counts towards the waiver requirement. Most banks specify that only “retail spending” qualifies, and they often exclude several types of transactions.

While the exact list can differ between banks, here are some common transactions that typically do not count towards your annual fee waiver requirement:

Cash advances and cash withdrawals.
Balance transfer amounts.
Payments for instalment plans like EzyPay or Flexi-Payment Plans.
Payments to government bodies or via JomPAY.
Transactions related to gambling or betting.
The annual fee itself, late payment charges, and other card-related fees.

To be certain, always refer to your card’s terms and conditions, which are available on your bank’s website. Understanding what counts as a qualifying retail transaction is crucial for accurately tracking your progress towards the waiver.

A Strategy For Multiple Cards

If you juggle multiple credit cards to maximise rewards, a little planning is all you need to get the annual fees waived. This way, you can enjoy all the rewards without the costs.

First, get organised. Create a simple list or spreadsheet to track each of your cards. Note down the bank, card anniversary date, annual fee, and the specific waiver requirement (e.g., spend RM12,000 a year, or perform 12 transactions).

Next, track your spending. As a card’s anniversary date approaches, see how close you are to the waiver target. If you’re nearly there, use that card for your daily expenses until you’ve met the requirement, so you don’t miss out.

Finally, evaluate your cards annually. If you find it difficult to meet the waiver requirements for a particular card and the bank is unwilling to waive the fee when you call, it may be time to reassess its value. Consider if the benefits are truly worth the annual cost, or if you would be better off with a different card. You can always compare credit cards on RinggitPlus to find one that better suits your spending habits.

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Eloise Lau

As a creative content writer, Eloise has covered finance, business, lifestyle topics, and even moonlights as a singer-songwriter outside of RinggitPlus. Her current interests are learning the best ways to optimise spending and credit card hacks to gain more airline miles.

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