Introducing new Kickback MasterCard credit card

34 posts in this topic

Posted

I have seen e new credit card which may be interesting for some of you which travel often to foreign countries.

This card charges nothing for turnovers (excl. ATM), and gives 0,5% cashback even for poker and XXX turnover.

Some features:

-0,5% non limit (!) cash back for nearly all turnovers direct on the next monthly invoice (!)

-exchange of foreign currencys with the official stock exchange rate, no commisions (!)

-picks up the monthly invoice from any German bank account

-advertising free noble design

-yearly fee 39€

For example, compared with the most free credit cards, it is useful to get such a kickback card if you make more than 2000€ turnover in foreign currencies per year: With free card you pay for example 1,5% exchange commision= 30€ expenses. With kickback card you pay 39€ yearly fee, no commision, and get 10€ kickback= means alltogether 29€ expenses.

For heavy users this card seems to be the part 1 of the dream team consisting of DKB Cash + kickback credit card. Than you get:

-Maestro, MasterCard and VISA

-free ATM cash with DKB VISA

-free DKB city cash bonus program

-free payment in foreign currencies with kickback kreditkarte

-kickback 0,5% for nearly all turnovers with kickback credit card

More infos:

Kickback Credit card at the bank site

My credit card comparision calculator including kickback card

post-102027-13524828872266.jpg

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Posted

The offer looked quite attractive to me because of no fees while paying in foreign countries. I came upon this while going through the price-list:

Fremdwährungsumrechnung beim Auslandseinsatz

der MasterCard

(entfällt bei PrivatCard Premium, Thomas Cook Card/-Prepaid Währung aus dem Einsatz der

Card, Neckermann Reisen MasterCard/-Prepaid MasterCard)

Zahlungsvorgänge in fremder

Währung aus dem Einsatz der

MasterCard werden von der Valovis

Bank zu den Wechselkursen der

internationalen Devisenmärkte des

jeweiligen Abrechnungstages und

-ortes (Börsenplatzes) zzgl. eines

Kurszuschlags von 1,00 % des Wechselkurses

umgerechnet. Der Abrechnungstag

kann von dem Tag abweichen,

an dem die Transaktion getätigt

wurde, weil er davon abhängt, wann

die Transaktion bei der Valovis Bank

eingereicht wird.

So, as far I understand, instead of the usual 1-2% fee levied for card-usage in foreign countries, 1% fee for currency exchange (Auslandseinsatzentgelt). So, in end effect its almost the same.

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Posted

With kickback card you pay 39€ yearly fee, no commision, and get 10€ kickback= means alltogether 29€ expenses.

€29 per year does not a free credit card make.

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Posted

He never said it was free, ff - he said it could be cheaper in the long run, compared to a "free" (i.e., no annual fee) card, if you bought lots of stuff in foreign currencies.

But luckycusp seems to have found a spoiler in the fine print.

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Posted

Thanks, El Jay. This intro threw me - "For example, compared with the most free credit cards,...."

I am easily thrown.

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Posted

Zahlungsvorgänge in fremder

Währung aus dem Einsatz der

MasterCard werden von der Valovis

Bank zu den Wechselkursen der

internationalen Devisenmärkte des

jeweiligen Abrechnungstages und

-ortes (Börsenplatzes) zzgl. eines

Kurszuschlags von 1,00 % des Wechselkurses

umgerechnet.

Yes, there is something wrong in the price list. According to bank hotline, this will be fixed until around end of november.

So, if you want to order this card

-make a printscreen of http://www.valovisbank.de/privatkunden/karten/mastercard/kickback-kreditkarte/ (clearly no commision for currency exchange)

-wait until roundabout end of November, and read price list again

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Posted

It doesn't really inspire much confidence if it takes them a month to delete a sentence from their website.

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Posted

This is a bank website. May be somebody has to sign or to check something before the price list will be updated. For technical reasons they not have to wait so long :huh: .

@luckycusp:

For me the combination of 0,5% kickback +0€ for any purchasing turnover + advertisement free design + automatical pickup of the amount of the monthly invoice from any German bank account is very interesting.

Some open words:

We have in the company an Amex Gold card, which we will replace with the new kickback card. I like cashback more than "rewards" or "bonus points" or whatever. The best Amex reward in my opinion are the Amazon vouchers (10.000€ turnover=50€ Amazon value, means 0,5% cashback). Unfortunately these vouchers are often not available, and Amex Gold business charges a 140€ annual fee (kickback 39€).

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Posted

I agree that cash is usually better than points, but if you are a train user and have a Bahncard, then the Bahncard credit card is hard to beat. It only costs €19 a year on top of the regular Bahncard 25/50 and €3,000 of turnover = 1,000 points = (for example) Bayern-Ticket worth €38. In contrast, 0.5% cashback on €3,000 would only be €15. The Bahncard credit card also gives a welcome bonus of 1,500 points, worth around €50 depending on how you use the points. The only potential downside is the 1.5% surcharge on non-Euro transactions.

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Posted

I agree that cash is usually better than points, but if you are a train user and have a Bahncard, then the Bahncard credit card is hard to beat... The only potential downside is the 1.5% surcharge on non-Euro transactions.

The Bahn Credit Card may be a quite good card for a train user which has still a Bahn Card.

But what will be happend if I pay the bill of my lunch with some business partners at a good restaurant with Bahn Credit Card :o ? I would have to explain something to my partners. I personally would prefer to pay with an advertisement free card, and nowbody knows that this card gives kickback...

I found an image of the bahn credit card:

post-102027-13526371669434.jpg

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Posted

I've never heard of an advertisement-free credit card before, nor ever heard of anyone having a problem with the bank or company logo being on the card. So I'm not sure what kind of explanation your lunch guests would be requiring. To be honest, a card without any logo on would probably be more in need of an explanation.

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Posted

Give him a break STB, he's trying to push his card ;-)

I have also never seen anyone care what credit card someone else forks out. The only cards that impress are platinum these days. :rolleyes:

The only explaining I hear is "wtf is an ECcard?!?!" or in German stores "wtf is a credit card?!?!, die nehmen wir nicht".

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Posted

I've never heard of an advertisement-free credit card before, nor ever heard of anyone having a problem with the bank or company logo being on the card.

A logo would be of course o.k. for me. But not a card full with advertisement.

I have also never seen anyone care what credit card someone else forks out.

I would never ever pay my restaurant bill with a card with big advertisement at the front side. But I accept that other people would do that. Example for a card I would because of the design never use in public (also if the specifications oft the card would be good, have not checked for this card):

post-102027-13526401655053.gif

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Posted

I would never ever pay my restaurant bill with a card with big advertisement at the front side.

Well I think you're on your own there. Must be a German thing; I don't think there's even such a thing as an advert-free credit card in Britain or America. But then we don't have any cards as disgusting looking as the German ones you present above.

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Posted

Since I travel a lot, this card could be really attractive. If the 1% fee is removed, then I will probably take it.

I am torn between this one and DKB-Bank card. With DKB-Credit card, I can withdraw money free of cost from any Visa-Automat all over world. Disadvantage is that they offer credit limit of only 500Euros. The limit can be increased unlimited by transfering money to the credit card account. So, if I have say 10000 Euros there, then the credit limit is 10000. I find it bad for safety reasons. DKB doesnt give a possibility for us to set a upper credit limit. I would like to store my money in a credit card, as the interest rates are good (1.55%). Apart from that, we need to take a Girokonto (savings account). Everything is free of cost but for me its just extra baggage (storing documents). Oops, I have ended up rambling too much!

Valovis offers 1.75% Interest on savings. It will be interesting to know how they regulate the available upper limits.

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Posted

The card is interesting, but doesn't pay up for me, as my bank charges only 1% for currency exchange, so higher turnover is required. Might be good for someone living several months a year abroad, although.

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Posted

With the Kickback Kreditkarte you save this 1%, and get 0,5% kickback extra. Alltogether you save 1,5% compared to your card.

I also not travel so often, and therefore I use the free (and advertising free ;) ) "black credit card" from the same bank.

In my opinion people which make per year >10.000€ turnover (in € or other currencies) should think about a cashback card. The bus driver, which travels one per year to Mallorca and uses his card to pay the travel + rented car, not.

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Posted

Any idea when the PLV has been updated? I am really interested in getting this card, but not until the PLV is updated.

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Posted

Let me tell you what has been working for me very well. Advanzia is a bank based in Luxembourg, but they offer cards in Germany, too, usually in cooperation with various German companies. My bears the Andasa logo which should be non-offensive enough even for Olaf.

The advantages:

- no yearly fee

- no fee on non-€ turnover - you get the straight interbank rate!

- 0.5% cashback, sometimes upped to 1% in promotion months

- German bank account number you can use to settle your bill

- no junk mail

- very friendly toll-free hotline with waiting times usually below one minute

The disadvantages:

- you get your statement via email by the 5th and if you do not pay by the 20th, the interest they charge is higher than for most of the competition

- officially, you cannot maintain a positive balance, if if you have one, e.g. due to a refund on a payment, they won't pay interest on that

- no online statement, so if you are unsure if some company billed you or not, you have to call them

I usually get cash abroad with my ec card. Fees are on the order of €3, even for US and Japan, and you get the interbank rate for your withdrawal. The Deutsche Bank ec card even lets you withdraw without a fee from Bank of America ATMs, however, you have to remember to call them each year to unlock your card for each continent separately. My other ec card from a customer owned bank does not have such problems but also offers no free withdrawels from foreign partner banks.

Other credit cards in contrast:

We have AmEx for business travel expenses. It is free via my employer.

Advantages:

+ online statement

+ no limit

+ no problems with security software blocking purchases so far

+ 8 week billing period

Disadvantage:

- pretty hefty fee for non-€ turnover hidden in the exchange rate - the last time I did the math, it was north of 2% versus the interbank rate on Yen

Deutsche Bank visa:

+ we get it for free with our company AmEx, otherwise I would not have it (yearly fee 40 €?)

- 1.75% fee on non-€ turnover + € 1.5 minimum fee (this really bites you for subway tickets or bridge toll)

- very nervous security software (on three different occasions, got my card blocked by the second purchase on the first day of my stay in the US because I had not used it in the previous months in that country)

Barclaycard:

- free, but fee on non-€ turnover

- they absolutely flood you with junk mail and calls to offer their convenient consumer credit

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Posted

Somehow its not clear if the there will be interest levied from Day 1. Most of the credit cards I find, they mention it explicitly that if the credit card bill is paid before due date, then no interest will be charged. I fail to find any such statement in Valovis.

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Posted

Any idea when the PLV has been updated? I am really interested in getting this card, but not until the PLV is updated.

My last info: End of November

Some open words: I also will wait with my order of this card until PLV is updated...

Somehow its not clear if the there will be interest levied from Day 1. Most of the credit cards I find, they mention it explicitly that if the credit card bill is paid before due date, then no interest will be charged. I fail to find any such statement in Valovis.

I can confirm that there is no interest at any Valovis MasterCard Credit Card if you pay 100% of the monthly card bill (card picks up the amount of the bill automatically from your bank account). You pay interest only for "flexible Rückzahlung" (=payment of a part of the card bill).

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Posted

Update:

The price list of the Valovisbank was updated last week.

Now it is clear that you pay with the Kickback Kreditkarte absolutely no fees for usage in foreign countries and for currency exchange.

I will order such a card within the next days, and if everything will be fine I will shot my current Amex Gold to the moon.

post-102027-13548772939221.jpg

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Posted

I finally end up taking the Card from Advanzia Bank (recommended by capslock post#19). The bad thing about it is the credit limit offered: only 500euros. They say it will gradually increase if I pay back properly.

They also have a online portal where the bills can be verified.

The customer service is 24 hours and free of cost.

Just pay the bills in time, then no costs will be incurred. I will watch out for the exchange rates when using it in non-euro places.

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Posted

For private usage the Advanzia Mastercard TOGETHER WITH AN OTHER CARD also in my opinion is a good choice.

But because of they not check the credit history so hard, you not get a high credit limit from the beginning.

Next thing is that the bank is located in Luxembourg and you live in a different country. Therefore the acceptance of this card at online shops may be not so good, compared with a card from a German issuer.

Of course we have listed this card in our credit card comparision tables. But for heavy usage I would not recommend it.

If you have ordered the "Andasa" named clone of the Advanzia Mastercard please read the terms and conditions carefully.

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Posted

Barclaycard:

- free, but fee on non-€ turnover

- they absolutely flood you with junk mail and calls to offer their convenient consumer credit

I have been using Barclaycard for last 6 years and have not received a single call from them on any topic. The only e-mails I get from them are the ones with my monthly statement.

Fee on non EUR turnover is indeed a serious downside.

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