If your credit card has annual fees, you have no choice but to pay them. Not paying this fee will result in additional charges for late payment, will increase your interest rates, and will damage your credit score. Certain issuers might allow you to bypass the annual fees by charging a certain amount on the credit card itself once a year. If this seems like a better option, contact your issuer to whether they have this offer. If you don't want to pay any annual fees whatsoever, you can apply for a no annual fee credit card. These credit cards don't have annual surcharges and can be much more beneficial for you. They do come with fewer rewards and bonuses but don’t cost anything to hold.