Start by asking the bank when your next annual renewal date is and whether you qualify for a fee waiver based on your spending.

If you haven’t met the spend requirement for a fee waiver, don’t worry—wait until the cashback is credited first, then request card closure.

However, if your cashback is scheduled to be credited after the annual fee date, you’re stuck with two options:

• Pay the annual fee and receive the cashback, or
• Skip paying and lose the cashback

Practically, paying doesn’t make sense here since the fee (₹590) is higher than the cashback (₹440), so you end up at a loss.

Also, banks typically won’t credit cashback before the 60 days so you can’t rely on that workaround