Advertisement

Free Credit Card Comparison

thumbnail

Not only do credit cards often make it easier for their owners to make everyday payments, many also offer even more convenience with additional insurance and discount programs. But conventional cards come with costs. Do you want to do without them and save money instead? Then you can opt for a free credit card that waives the annual fee. However, free of charge does not mean completely free of charge: In our guide, we show you which fees you can still incur and what else you need to know about free credit cards. In our test, we have taken a look at the best offers for you.

Advertisement

FREE CREDIT CARD - THE MOST IMPORTANT FACTS IN BRIEF

  • With a free credit card, the basic fee is waived in any case.
  • With many free credit cards, there is a withdrawal fee. We show you what other costs you might have to pay.

Important: With free credit cards, there are different variants with regard to the repayment method.

FREE CREDIT CARD - RECOMMENDATIONS & TIPS

  • Visa and Mastercard offer free credit cards. However, the companies have no direct contact with the cardholder, but issue licenses to banks and savings banks. Both cards are accepted worldwide.

Our recommendation: The costs of a credit card can serve as a decision-making aid if you are unsure about your choice of provider.

THE AMAZON CREDIT CARD - DID YOU ALREADY KNOW?

Depending on your customer status, you get the Amazon credit card for free: As a Prime customer you don't have to pay any annual fees, Amazon customers get the card for free in the first year, after that they pay 19.90 dollar annually. This means: If you order as an Amazon customer without a Prime subscription for about 1,000 dollar a year, you recoup the annual price of the credit card. Since the Amazon credit card is only free under these circumstances, it did not make it into our big comparison.

Tip: In our guide, we put the Amazon credit card to the test and summarized important information for you.

Advertisement

WHAT IS A FREE CREDIT CARD?

Not all credit cards are the same. There are exclusive luxury credit cards that only the super-rich receive and credit cards from banks and savings banks, for which you do not need to have a special status or a fat bank account. The differences are sometimes considerable even from Visa Card to Visa Card, and even among the so-called free credit cards there are significant variations in performance and service. A credit card comparison that compares fees and services is therefore indispensable.

With a free credit card, the basic fee is waived in all cases. Unfortunately, however, it is not always the case that the use of the credit card really does not cost a cent. You should pay particular attention to whether costs are incurred when withdrawing money from ATMs and whether the basic fee is really permanently waived.

FREE CREDIT CARD: WHO DOES IT MAKE SENSE FOR?

Free credit cards are suitable for most consumers: banks do not charge any annual fees for these cards and the fees for withdrawal and payment are also manageable. As the owner, you save compared to expensive cards and at the same time do not have to cut back. On the other hand, free credit cards usually do not include insurance or discount programs.

Meanwhile, there are even gold and platinum cards, for which the respective providers do not charge an annual fee. These cards have other costs, which are sometimes hidden. That's why the standard offers are cheaper in most cases.

THE ALTERNATIVE: A PREPAID CREDIT CARD

If you do not receive a credit card from the bank, you can alternatively get a prepaid credit card. These cards can only be used on a credit basis. For this reason, most banks then do not check the Schufa information of the applicant and also do not look so closely at the age.

Tip: In our guide to prepaid credit cards, we have compared the best offers. You can also read all the important information on the subject.

Would you like us to keep you up to date with the latest recommendations?

Our tip: Subscribe to our free newsletter now!

Advertisement

THIS IS HOW MUCH A FREE CREDIT CARD COSTS

Fees with free credit cards? That sounds like a contradiction - but it's quite possible. They make up the largest part of the costs. You can find the details in the price-performance lists and in the fee information, if the card is part of a checking account.

In many cases, a withdrawal fee is charged when you withdraw money, for example, when you withdraw cash from ATMs or counters in USA or abroad. Your bank determines the price.

Be careful not to confuse the withdrawal fee with the ATM fee. The card-issuing bank may charge withdrawal fees, and the ATM operator may charge its own fees on top of that. It can therefore happen that a bank advertises free withdrawal worldwide, but in certain countries costs can still arise at the ATM, which are usually not reimbursed by the bank. Often this is the case abroad. But Mastercard allows banks to charge such fees in USA as well.

When withdrawing money or paying in currencies other than the dollar, foreign currency fees may be incurred. These are usually quoted as a percentage of the amount due.

However, some banks charge fees not only when you pay with your debit card in a foreign currency, but also when the vendor's place of business is in a country that does not have the dollar as its currency. This can then become a problem if you are shopping online and don't expect to pay fees because the product price is in dollar. Check with your bank to see if your card could incur foreign transaction fees.

Popular Categories

Credit cards Insurance Personal loans Money
Advertisement
Advertisement