What Is a Credit Card Annual Fee? | Capital One (2024)

FAQs

What is the annual fee on a Capital One credit card? ›

The Capital One credit card annual fees range from $0 to $395, depending on the card. Most Capital One consumer credit cards have no annual fee, and the few cards that do have such a fee usually come with extensive rewards, too.

You can try calling Capital One customer service at the number on the back of your card to request an annual fee waiver, though this is not guaranteed to work. Capital One cardholders who want to upgrade to a card with an annual fee should keep in mind that the fee won't be charged until 65 days after the upgrade.

An annual fee is a cost you pay credit card issuers for having certain cards. It's normally due once a year, but some issuers ask for monthly installments. Annual fee amounts can vary. You might see some annual fees as low as $35 and others as high as $500 or more.

Annual Fee^†: $39

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Keep your credit in good standing

If you carry a revolving balance—meaning you don't pay your entire monthly balance—you may be charged interest. So, if you want to avoid interest altogether, the simple solution is to pay off your balance in full each month.

Capital One may waive your annual fee if you call and make a case for financial hardship. Capital One may waive the annual fee if you contact customer service at phone number on the back of the card and request a fee waiver.

If a card has an annual fee, you'll pay it at the beginning of your cardmember anniversary and have all of the relevant benefits for the remainder of that year. Canceling the card before the year is up means missing out on perks for which you've already paid. Some card issuers even explicitly advise against doing this.

Not all credit cards charge an annual fee, but those that do likely do it for one of two reasons: Either the annual fee balances out relatively generous bonuses—benefits or rewards like airline miles, cash back, discounts and travel perks—or compensates for higher-risk lending with cards designed for people with a poor ...

What happens if you don't pay your annual fee? ›

Your account will automatically be charged for your credit card's annual fee. However, if you don't pay it and/or your balance, it could be reported to the credit bureau if your payment is 30 days+ past due. It's best to pay your bill off, in full, every month to avoid this.

You can be a Capital One member, and there is no fee. However, if you want a Capital One credit card, then some of those cards DO have annual fees.

You can get a Credit One annual fee waived by calling customer service at (877) 825-3242 and requesting a fee waiver, or by enrolling in Credit One's Credit Protection Program.

An annual fee may be worth it if it pretty much pays for itself through the perks and offers benefits you actually care about, whether that's car rental insurance, airport lounge access or statement credits for gym memberships.

ANNUAL FEE: The Annual Fee of $95 will be billed to your Account when opened. It's refundable as long as you cancel your Account and have not made any transactions. The Annual Fee will bill again each subsequent year until the balance is paid in full and your account is closed.

You don't need to pay your entire current balance on your credit card bill to avoid paying interest, just the statement balance. Consistently paying off your statement balance every month by the due date can help you avoid paying interest or late fees.

No monthly service charge—includes free debit card and use of Capital One image-enabled ATMs. Balance requirement None No minimum balance requirement to maintain this account. Minimum deposit to open account None No minimum deposit required at time of account opening.

You will pay a $39 annual fee but receive benefits, including $0 fraud liability, tap-to-pay technology and free credit monitoring with CreditWise from Capital One. Other perks are 24/7 customer service, and account management with Capital One's mobile app.

Many card issuers will usually credit an annual fee if you close the account and request a refund quickly enough. You have about 30 days after an annual fee posts to do this—give or take a few days. It varies by issuer and is not always guaranteed.