If you have to pay your annual fees, you will most commonly be charged 12 months after you've been approved for your credit card. Certain issuers will charge you immediately upon opening your account, but this is less frequent. Although the charge is most commonly applied once a year, you might encounter issuers that allow you to pay the fee in monthly installments. You'll still be paying the full amount of your annual fee, but the cost will be divided into smaller monthly payments. Not paying the annual fee on time will result in late payment fees, and will affect your credit score, so be sure to always pay your credit card fees and debts on time.