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DKB VISA card limit/ payments

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Hi all,

 

Couldn't find an answer to this on previous DKB credit card threads.

 

I've just received my DKB EC and VISA cards, as well as all my PIN numbers and online banking login details. I've seen in the documents they sent me and on my online banking account that my "Kreditlinie" (credit limit) is €100. This seems pretty low. Does that mean that I can only spend that much every month with my VISA (in which case I need to apply for a higher Kreditline), or is this only an overdraft, i.e. I can deposit money into the account to which the card is attached, and spend that PLUS €100 (like an overdraft)?

 

It also says on my online banking that the "abrechnungskonto" (billing account) is my one online DKB account. Does that then mean that I can deposit money into that account, and that this will automatically be added as "credit" that I can then use with my VISA card? How can I arrange the details of my monthly credit card payments? There was no information about that in the documents I received.

 

Thanks for any help!

 

Noah

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I don't actually have DKB because they refused me but I researched it before I applied for it back when and basically your visa account is your interest bearing savings account and withdrawing money on your visa card is free in any ATM. Your regular account that is attached to your EC card, well, lets say unless you have access to a DKB ATM, you really do not want to be withdrawing money with your EC card because they charge you in blood. You must be able to see there somewhere if your credit line there belongs to the visa account or the EC account.

 

If you put money in your visa account, you can use it through your visa card.

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Put all your money in your VISA account and you can use it with your VISA card. Your 100 EUR limit is how much you can go without any money in the VISA account.

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As for your monthly credit card payments, here in Germany with most credit cards they will take the complete amount owed out of your account each month.

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Great, thanks for the replies! However I only have one account called "Internet-Konto", and it seems that both the EC and VISA are tied to that account. There is no separate "VISA account" though; the online banking lists the VISA as a card but not as an account. Does that mean that cash in the "Internet Konto" counts as cash for my VISA and EC cards at the same time?

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yes. each month the balance of your visa card will be withdrawn from your EC card account. if you don't have enough money to cover the visa bill each month, your internet account will go in minus if you go past the 100€. we had to up our limit for overdrawing on the visa account. i think it's only 500€ now.

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i think it's only 500€ now.

 

We have the same limit, they won't up it if you do not register that account as the one you receive your salary in.

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aah ok, thanks. I guess as long as I keep enough cash on the account to pay for whatever I buy with the VISA it shouldn't matter too much what the limit is then? This is different to UK credit cards, where there is a monthly spending limit regardless of how much money is on the account.

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most german credit cards are like this though so this isn't new. i also have a postbank account, which is for my salary and a visa there too, but i have it set up that each month only 50% is paid. but with the dkb if you try to even use the visa to pay for something and you are overdrawn the 100€, then the card will be denied. it took my bf and i a few head scratching sessions before we figured out what the deal was since the overdraft of my visa on my postbank account is a few thousand euros. the dkb has a very, very low overdraft limit.

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Yes- this is my first credit card in Germany. Since the credit limit is so low, I guess the only difference between a credit card and a debit card here is that you can pay abroad with the credit card. Actually my main reason for getting the DKB VISA card is that they offer free withdrawals abroad, which sounds really good.

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aah ok, thanks. I guess as long as I keep enough cash on the account to pay for whatever I buy with the VISA it shouldn't matter too much what the limit is then? This is different to UK credit cards, where there is a monthly spending limit regardless of how much money is on the account.

 

Hi, VISA Card you got from DKB is equivalent to the UK debit card and it is not the credit card. There is no limit as long as there is enough money on the account. Probably 100 euro is overdraft limit because you are new to the bank. Wait few months and they will increase it w.r.t your incomes. If you need a credit card try the one from Amazon.de. There is Teilzahlung option but there is no interest-free period like in the UK.

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Yes- this is my first credit card in Germany. Since the credit limit is so low, I guess the only difference between a credit card and a debit card here is that you can pay abroad with the credit card. Actually my main reason for getting the DKB VISA card is that they offer free withdrawals abroad, which sounds really good.

 

it is free only in Euro-zone! Otherwise, you pay 1,5% from the amount. Still much cheaper then when using EC card abroad :-)

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that is something new! Was the exchange rate reasonable? I have IngDiba Visa-Direkt and the exchange rate is good but they charge around 1,5% for non-Euro withdraws and payments.

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Withdrawals are for free worldwide, but you have to pay commission if you use it in shops out of the EU.

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Yes, withdrawals are free worldwide, but card payments are free only in the euro-zone. Outside the euro-zone, there is a 1.5% transaction fee. The question is whether they compensate for the free withdrawals by using worse exchange rates!

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Instead of opening yet another DKB thread I'll hijack this one as it's closely related...

 

We've recently opened a joint a/c with them and I'm wondering something: With my Irish credit card, withdrawing cash at an ATM would incur immediate interest charges (purchases are of course interest free for the billing month cycle) unless one had "pre-loaded" the card with cash.

 

What is the situation with the DKB card in this respect? Say I have a DKB Visa with €1000 limit and no cash loaded onto the card and I go to the ATM and withdraw €500 or whatever (and let's assume make no other transactions with the card for the rest of the billing cycle). Do I start paying interest on this cash immediately like in Ireland or do I have until the 22nd of the month (at which point DKB will come and take the €500 from the associated Girokonto and reset everything to zero on the Visa card(s))?.

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Do I start paying interest on this cash immediately like in Ireland?

 

No.

 

I know what you mean: all other credit cards I've used give you a grace period till the end of the month for store purchases, after which they start charging interest. They're less "forgiving" for cash advances, for which the interest clock starts ticking from day 1.

 

Not so with the DKB Visa card. They simply add up all the charges to the card at the end of the month, and take out the entire balance from the associated DKB Girokonto. You don't even have the possibility of carrying a balance into the next month (see also here).

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Ah thanks, that's great to know.

 

I had visions of having to juggle money around to make sure we had enough "cash" on the credit card for ATM withdrawals but if they aggregate everything like that then that's fantastic, you really can use the Visa like an ATM card in that case.

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Note, though, that you need to have enough money in the Girokonto to pay off the entire balance of the Visa card at the end of the month. If you're going to have this amount of money at DKB anyway, you're better off transferring everything to the Visa Card (as positive balance) rather than keeping it in the Girokonto since this way, you'll be earning some interest as well.

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