Why do these credit cards have a first-year annual fee rebate?

Credit card issuers regularly run promotions to showcase their best credit cards. For example, to encourage you to sign up for one of these credit cards, banks offer a discount on the annual fee for the first year. This allows you to test the product to see if it's right for you in future years.

How is the first-year annual fee rebated?

In most cases, the annual fee is billed on your first statement and refunded immediately. In other cases, you will have to meet the targets of the welcome offer to get the annual fee refunded on your 4th or 5th statement/billing cycle.

Is it possible to have the annual fee waived for subsequent years?

Yes, you may get the annual fee waived for subsequent years. But to do this, you'll need to negotiate your annual fee when you renew your credit card in the second year. The telephone advisor can credit you with the annual fee for the second year if, for example, you made a substantial volume of purchases on your credit card in the first year, or if you have other products with the institution (mortgages, investments, etc.).

What is the best credit card with Reward Points?

With so many offers on the market, Milesopedia offers a credit card comparison tool according to your profile and everything you need to know about current promotions. Milesopedia is along your side to help you make the best credit card choice for you.

What's the best credit card in Canada?

There are over 200 credit cards in Canada. There is no single best credit card! There are many credit cards to suit your needs: The Best Cash Back Credit Cards The Best AIR MILES Credit Cards The Best Insurance Credit Cards The Best Airbnb Credit Cards The Best Hotel Credit Cards