Many banks waive or rebate a credit card's annual fee when you also have one of their premium chequing packages, and some cards waive it for other reasons, like being a premium client. When your card has a condition like this, Finly Money takes it into account so your card's fees and net rewards are right.
Which condition applies, and how much of the fee it covers, comes from the card's own details, so you'll only see this on cards that have one.
Tell us if you qualify
Open the card
Go to Rewards and pick the card in your wallet. On its Overview, a panel says the card's fee can be waived or rebated.
Answer the question
Choose Yes, I have it or No. When the bank has several packages, pick yours from the list, or None of these.
Check the terms if you're unsure
Choose How it works to read what qualifies.
Once it counts, the panel reads Fee waived for you, or shows how much of the fee is rebated, with the reason. If you said no, the panel leaves the Overview; you can change your answer in the card's Settings under Fee waiver.
What we can tell from your accounts
If your own data shows it clearly, we count the waiver for you and say why. We look only at accounts you've brought into Finly Money; we never contact your bank. Clear signs include:
- A fee rebate that posted on a card from the same bank in the last 13 months.
- The package's name on a chequing account you've connected.
- For Wealthsimple cards, the money you hold there or regular income deposits into your Wealthsimple chequing.
- A monthly card fee that has stopped being charged.
A regular chequing account at the same bank isn't enough on its own. We mention it as a hint and ask, but we don't count the waiver until you say yes.
Things worth knowing
- One card per package. Bank packages usually rebate one card's fee. If you have two cards from the same bank, we count it on the one with the higher fee, and the other card says where it went.
- Some packages cover only the first year. If yours does and the card is older than a year, its fee counts in full.
- What the package costs you. Where we can see the chequing account, we weigh its monthly fees against the card rebate, so you can see whether you come out ahead.
- Rebates that post. A fee rebate that posts on your card is taken off its fees, and the card shows how much of the fee was rebated.
In Compare cards
On Compare cards, Your banking shows the packages and statuses that waive or rebate card fees, ticked where you told us or your accounts show it. Tap one to change it, and every compared card's fee follows.