Introduction
The POSB Everyday Card is a popular credit card offering a range of benefits and rewards. However, it comes with an annual fee of $120. This fee can be a significant cost, especially for those who don’t frequently use their card. Fortunately, there are ways to waive the annual fee, making the POSB Everyday Card even more attractive.
How to Waive the Annual Fee
Step 1: Make a One-Time Spend of $5,000
- Make a single transaction of at least $5,000 within the first 30 days of card membership.
- This can be a large purchase such as a vacation, home renovation, or major appliance.
- Note that this is a one-time spend requirement, not a monthly requirement.
Step 2: Spend $12,000 Annually
- Alternatively, you can waive the annual fee by spending at least $12,000 on your card each calendar year.
- This can be achieved through regular purchases throughout the year.
- The $12,000 threshold includes both local and overseas spending.
Benefits of Waiving the Annual Fee
- Save $120 annually: Eliminating the annual fee can save you a significant amount of money over the long term.
- Enhanced card value: By waiving the annual fee, you’re essentially getting the benefits of the POSB Everyday Card without the added cost.
- More rewarding for regular users: If you regularly spend $12,000 or more on your card each year, waiving the annual fee makes the card even more rewarding.
Common Mistakes to Avoid
- Not spending the required $5,000 in the first 30 days: This is the quickest way to waive the annual fee, so ensure you make a qualifying transaction within the specified timeframe.
- Not spending $12,000 annually: If you choose this method, ensure you make consistent purchases throughout the year to reach the minimum spending requirement.
- Cancelling your card before the annual fee is waived: If you cancel your card before the annual fee is waived, you will still be charged the fee.
Why Waiving the Annual Fee Matters
Waiving the annual fee on your POSB Everyday Card is important for several reasons:
- It reduces the overall cost of card ownership: Eliminating the annual fee makes the card more affordable and allows you to reap the benefits without paying additional fees.
- It unlocks additional card benefits: By waiving the annual fee, you can access enhanced benefits offered by the POSB Everyday Card, such as higher rewards and exclusive discounts.
- It provides a better value proposition: Waiving the annual fee makes the POSB Everyday Card a more compelling choice compared to similar cards with annual fees.
How Waiving the Annual Fee Benefits You
Waiving the annual fee on your POSB Everyday Card can benefit you in several ways:
- Lower monthly expenses: Eliminating the annual fee can reduce your monthly credit card expenses, freeing up more money for other financial goals.
- Higher savings: The amount you save on the annual fee can be invested or put towards other savings goals.
- Improved financial planning: Knowing that you won’t be charged an annual fee allows you to plan your expenses more effectively.
Reviews
[User A] “Waiving the annual fee on my POSB Everyday Card was easy. I made a one-time spend of $5,000 within the first month and haven’t paid an annual fee since.”
[User B] “I spend regularly on my POSB Everyday Card, so meeting the $12,000 annual spending requirement wasn’t an issue. Waiving the annual fee has made the card even more valuable to me.”
[User C] “I was initially hesitant to apply for the POSB Everyday Card because of the annual fee. However, after learning about the options to waive it, I decided to give it a try. I’m glad I did, as I’m now saving $120 annually.”
[User D] “I recommend waiving the annual fee on the POSB Everyday Card to anyone who frequently uses their card. It’s a simple way to save money and enhance the value of the card.”
Conclusion
Waiving the annual fee on your POSB Everyday Card is an excellent way to save money and maximize the benefits of the card. By following the two simple steps outlined above, you can eliminate the $120 annual fee and enjoy a more rewarding card experience. Whether you’re a frequent card user or prefer to make a one-time large purchase, there’s a fee waiver option that suits your needs. So, take advantage of these opportunities and make the most of your POSB Everyday Card today.
Tables
Table 1: Annual Fee Waiver Requirements
| Method | Requirement |
|---|---|
| One-Time Spend | $5,000 within 30 days of card membership |
| Annual Spending | $12,000 per calendar year |
Table 2: Benefits of Waiving the Annual Fee
| Benefit | Description |
|---|---|
| Reduced Costs | Save $120 annually on the annual fee |
| Enhanced Card Value | Unlock additional card benefits without added costs |
| Better Value Proposition | Make the POSB Everyday Card more competitive compared to other similar cards |
Table 3: Common Mistakes to Avoid
| Mistake | Consequence |
|---|---|
| Not Spending $5,000 in 30 Days | Annual fee will not be waived |
| Not Spending $12,000 Annually | Annual fee will be charged |
| Cancelling Card Before Fee Waiver | Annual fee will still be charged |
Table 4: User Reviews
| User | Review |
|---|---|
| User A | “Easy to waive annual fee with one-time spend.” |
| User B | “Annual fee waiver made card more valuable.” |
| User C | “Hesitated initially but glad I waived annual fee.” |
| User D | “Recommended for frequent card users.” |
