Annual Fee

An annual fee is a charge that a company, often a financial institution or service provider, imposes each year for ongoing access to a specific service or benefit. Common examples include credit cards, membership clubs, or subscription services. This fee can cover various perks such as rewards, insurance, or exclusive access. While some services offer no annual fee, those that do typically provide added value that may justify the cost for users. It’s important to weigh the benefits against the fee to determine if it suits your needs.