Credit Card Annual Fee Waiver 2026: Exact Spend by Bank, and What to Say When You Call
The spend that waives your annual fee at SBI, HDFC, Axis, ICICI and more, checked November 2026. What counts, what doesn’t, and a call script for when you fall short.
SBI Cashback needs ₹2 lakh
₹999 plus GST comes to ₹1,179. That’s what SBI Cashback charges you every year, unless you spend ₹2 lakh on it. Most paid cards in India work this way: cross a spend number and the renewal fee goes away on its own. Miss it, and you can still ask. Below are the exact numbers for 2026, and what to say on the call.
How each bank counts your spend
| Bank | Spend counted over | Doesn’t count |
|---|---|---|
| SBI Card | 365 days before the fee is billed | Refunds are subtracted. Check your card’s terms for other exclusions. |
| HDFC Bank | 12 months before your renewal date | Retail spends only. Its fee page doesn’t list other exclusions. |
| Axis Bank | Your card year | Rent and wallet loads on ACE and Flipkart. Privilege also leaves out utilities, telecom, government, insurance, gold, fuel and education. |
| ICICI Bank | Your previous card year | Rent, government and education payments, since November 2024. |
SBI bills the fee, then reverses it if you qualified. HDFC doesn’t charge it at renewal if you met the spend.
The spend that waives your fee, card by card
Fees are before 18% GST. We took them from each bank’s card and fee pages between 5 and 9 November 2026. Banks change these, so if your card’s terms say something different, the terms win.
| Card | Annual fee | Spend to waive it |
|---|---|---|
| SBI SimplyCLICK | ₹499 | ₹1 lakh |
| SBI SimplySAVE | ₹499 | ₹1 lakh |
| SBI Cashback | ₹999 | ₹2 lakh |
| SBI BPCL Octane | ₹1,499 | ₹2 lakh |
| SBI Card PRIME | ₹2,999 | ₹3 lakh |
| SBI Card MILES | ₹1,499 | ₹6 lakh |
| SBI Card ELITE | ₹4,999 | ₹10 lakh |
| Card | Annual fee | Spend to waive it |
|---|---|---|
| HDFC MoneyBack+ | ₹500 | ₹50,000 |
| HDFC Millennia | ₹1,000 | ₹1 lakh |
| Tata Neu Plus HDFC | ₹499 | ₹1 lakh |
| Swiggy HDFC ORNGE | ₹500 | ₹1.5 lakh |
| Swiggy HDFC BLCK | ₹1,000 | ₹2 lakh |
| HDFC Regalia Gold | ₹2,500 | ₹4 lakh |
| HDFC Diners Club Black Metal | ₹10,000 | ₹8 lakh |
| HDFC Infinia Metal | ₹12,500 | ₹10 lakh |
| Card | Annual fee | Spend to waive it |
|---|---|---|
| Axis ACE | ₹499 | ₹2 lakh |
| Axis Airtel | ₹500 | ₹2 lakh |
| Flipkart Axis | ₹500 | ₹3.5 lakh |
| Axis Privilege | ₹1,500 | ₹5 lakh |
| Axis SELECT | ₹3,000 | ₹8 lakh |
| Axis Magnus | ₹12,500 | ₹25 lakh |
| Axis Atlas | ₹5,000 | No spend waiver |
| Card | Annual fee | Spend to waive it |
|---|---|---|
| Amazon Pay ICICI | Lifetime free | Nothing to waive |
| ICICI Coral | ₹500 | ₹1.5 lakh |
| ICICI MakeMyTrip | ₹999 | ₹3 lakh |
| ICICI Sapphiro | ₹3,500 | ₹6 lakh |
| Card | Annual fee | Spend to waive it |
|---|---|---|
| IDFC FIRST Select | Lifetime free | Nothing to waive |
| Kotak League Platinum | ₹499 | ₹50,000 |
| Amex SmartEarn | ₹495 | ₹40,000 |
| Amex Membership Rewards | ₹4,500 | ₹1.5 lakh, or half off at ₹90,000 |
| Amex Platinum Travel | ₹5,000 | No spend waiver |
American Express says it isn’t taking new card applications in India right now. These rows are for people who already hold one.
Close to your number near renewal? Bring forward spending you were going to do anyway, like a phone you planned to buy next month. Don’t buy things just to hit it: spending ₹30,000 you didn’t need, to save ₹1,179, is a bad trade. And check the exclusions first. Rent paid by card won’t move you closer on Axis ACE or any ICICI card.
Some customers get it lifetime free anyway
Spend isn’t the only way out. Banks also give cards lifetime free (LTF) to some customers, through limited-period offers or pre-approved upgrades. That matters on your call: if the bank is giving your card away free to new customers, it’s hard to argue you should pay for it.
- HDFC: its fee page lists HDFC Pixel Play as lifetime free until 30 November 2026. In October 2025 it also offered HDFC Millennia and the Swiggy cards free to new applicants.
- Axis: the Axis Privilege page shows a limited-period ₹0 fee on the Visa variant, against ₹1,500 normally.
- SBI: we found no lifetime-free offer in 2026. Its only fee offer was first year free on the PhonePe SBI cards, for applications from 3 April to 2 June 2026.
- Always free: Amazon Pay ICICI, and IDFC FIRST cards like IDFC FIRST Select.
- Offers for existing customers rarely appear on public pages. Look in your bank’s app or net banking for a pre-approved or lifetime-free offer before you call.
| Card | Annual fee | What helps or hurts | Our read |
|---|---|---|---|
| HDFC Millennia | ₹1,000 | HDFC has given it free to new applicants before | Better |
| Swiggy HDFC ORNGE | ₹500 | Small fee, and part of the same HDFC free offer | Better |
| Axis Privilege | ₹1,500 | Axis is offering ₹0 on the Visa variant right now | Better |
| Axis ACE | ₹499 | Small fee, but no free offer found | Fair |
| HDFC MoneyBack+ | ₹500 | Small fee, but no free offer found | Fair |
| ICICI Coral | ₹500 | Small fee, but no free offer found | Fair |
| HDFC Regalia Gold | ₹2,500 | Mid-size fee that pays for lounge access | Fair |
| SBI Cashback | ₹999 | No SBI lifetime-free offer found in 2026 | Lower |
| HDFC Infinia Metal | ₹12,500 | Premium perks, and HDFC has been asking low spenders to downgrade | Lower |
| Axis Magnus | ₹12,500 | Premium perks and a ₹25 lakh waiver bar | Lower |
This is our judgement, not a bank figure: no bank publishes how often it reverses fees. Your chances go up if you’re close to the waiver spend, have held the card for years and always pay in full.
Missed it? How to ask for a reversal
Once you’ve missed the number, reversing the fee is the bank’s choice, not your right. No bank publishes how often it says yes, so be wary of any script sold as one that always works. What helps is a clean record: years with the card, every bill paid in full, and real spending on it.
Before you call
- Find the fee on your statement: the date, and the amount with GST.
- Know what you spent on the card in the last 12 months. Add up your statements if the app doesn’t show it.
- Check your bank’s app for a pre-approved or lifetime-free offer. If there is one, it’s your best argument.
- Decide what you’ll do if they say no: pay it, switch cards, or close it.
- Ask before that statement’s due date, so you know what to pay.
What to say
- Start with the facts: “My card ending 4321 was charged an annual fee of ₹999 plus GST on 3 November. I’d like it reversed.”
- Give your reason in one line: “I’ve had this card four years, paid every bill in full, and spent about ₹1.6 lakh on it this year.”
- If your bank is giving this card free to new customers, say so: “You’re offering this card lifetime free to new applicants right now. Can you do the same for me?”
- If they say no, ask once more: “Is a partial reversal possible, or can you move me to a lifetime-free card?”
- If it’s still no, and you mean it: “Then please raise a request to close the card.” Some banks make an offer at this point. If yours doesn’t, closing was the right call anyway.
- Before you hang up: “Please give me the request number, and tell me which statement the reversal will show on.”
Phone banking works. Chat or email is better if you want the answer in writing.
If the answer is no
Paying can still be the right move. If a ₹999 card gave you ₹4,000 in cashback this year, the fee was worth it. Check what yours actually earned before you decide.
- Switch: ask whether you can move to a lifetime-free card from the same bank. Not every bank allows it.
- Close: pay the balance to zero and use your reward points first, because points on a closed card are usually lost. Once you owe nothing, RBI rules give the bank seven working days to close the card. After that, it owes you ₹500 for every day of delay.
- Before closing, think about your credit score. A closed card takes its limit with it: ₹30,000 a month on two cards with ₹1 lakh limits each is 15% utilisation. Close one, and the same spending is 30%.
Lifetime-free cards, if you’d rather not deal with fees
ICICI Amazon Pay Credit Card
ICICI Bank
Net / yr
₹3,793
Fee
Free
Top
5%
- ✓Best net value on this list — about ₹3,793/yr in your pocket after fees on typical spends.
- ✓Best for amazon (prime) — 5%.
IDFC FIRST Millennia Credit Card
IDFC FIRST Bank
Net / yr
₹1,970
Fee
Free
Top
10X from first txn
- ✓Strong runner-up at ₹1,970/yr net — roughly ₹1,823 behind #1 on the same spend mix.
- ✓Best for dining / travel / international — 10X from first txn.
IDFC FIRST Select Credit Card
IDFC FIRST Bank
Net / yr
₹1,711
Fee
Free
Top
3X reward points per ₹200
- ✓Worth a look — ₹1,711/yr net among the eligible cards on this list.
- ✓Best for monthly spend up to ₹20,000 — 3X reward points per ₹200.
IDFC FIRST Millennia Credit Card
IDFC FIRST Bank
Net / yr
₹1,970
Fee
Free
Top
10X from first txn
- ✓Strong runner-up at ₹1,970/yr net — roughly ₹1,823 behind #1 on the same spend mix.
- ✓Best for dining / travel / international — 10X from first txn.
ICICI Amazon Pay Credit Card
ICICI Bank
Net / yr
₹3,793
Fee
Free
Top
5%
- ✓Best net value on this list — about ₹3,793/yr in your pocket after fees on typical spends.
- ✓Best for amazon (prime) — 5%.
IDFC FIRST Select Credit Card
IDFC FIRST Bank
Net / yr
₹1,711
Fee
Free
Top
3X reward points per ₹200
- ✓Worth a look — ₹1,711/yr net among the eligible cards on this list.
- ✓Best for monthly spend up to ₹20,000 — 3X reward points per ₹200.
Net value snapshot
Rewards minus annual fee on your spend profile
- #1ICICI Amazon Pay Credit Card₹3,793#1ICICI Amazon Pay Credit Card₹3,793
- #2IDFC FIRST Millennia Credit Card₹1,970#2IDFC FIRST Millennia Credit Card₹1,970
- #3IDFC FIRST Select Credit Card₹1,711#3IDFC FIRST Select Credit Card₹1,711
Estimated net value on a shared spend profile — not marketing headline rates.
Get a personalized recommendation
Articles are generic — your best card depends on income and spends. Match in 2 minutes, no CIBIL pull.
Start free matchRates, caps, and offers are sourced from public issuer and platform terms and may change — see how we calculate net annual value.
Frequently asked questions
Which spends don’t count toward an annual fee waiver?+
It depends on the bank. Axis leaves out rent and wallet loads on cards like ACE and Flipkart, and Privilege excludes more, including fuel and insurance. ICICI leaves out rent, government and education payments. Check your card’s terms before counting on a big payment.
Is the spend counted from the date I got the card?+
It’s counted over your card year, not the calendar year. HDFC counts the 12 months before your renewal date, and SBI counts the 365 days before the fee is billed.
Can the bank refuse to reverse the fee if I didn’t hit the spend?+
Yes. Below the threshold, a reversal is up to the bank. Ask politely, mention your record, and decide in advance whether you’ll pay, switch or close.
How quickly must a bank close my credit card?+
Within seven working days of your request, once you owe nothing. If it takes longer, RBI rules say the bank must pay you ₹500 for each calendar day of delay.
Can my existing card be made lifetime free?+
Sometimes. Banks give lifetime-free offers to selected customers, usually as a pre-approved offer in the app, and some run limited-period free offers for new applicants. Ask on the call, and point to any free offer the bank is running on your card.
Is the joining fee waived the same way?+
No, that’s a separate condition. Axis ACE, for example, waives its ₹499 joining fee if you spend ₹10,000 within 45 days of getting the card.
Related articles
Will this fee actually pay off?
Best Lifetime Free Credit Cards in India (2026)
Lifetime free doesn't mean zero catches — check reward caps, forex markup, and income rules.
We picked a winner (honest math)
HDFC Millennia vs Axis ACE vs SBI Cashback: The Honest 2026 Comparison
All three say 5%. None of them pay 5% on everything. Here is who actually leaves you with more money — on your kind of month.
What changed — and what it means for you
SBI Cashback Card: Still Worth It After the April 2026 Cap Cut?
The ₹4,000 headline is not 5% on a giant cart. Here’s the new cap in rupees — and when the card is still the right one.