MasterCard credit cards from gebuhrenfrei.com

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I was just sent a credit card with my name on it, from gebuhrenfrei.com, in cooperation with Advanzia, which is a Luxemburg Bank (apparently). The info says that they don't charge anything for anything pretty much, other than an effective yearly rate of 19,94% on purchases no paid off within 7 weeks, and 25,9% for cash advances. Other than these high %s, does anybody know if there are any other hitches? I just can't bring myself to read the small (German) print. Anybody else get one of these in the mail? Thanks

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It happens a lot, Air Berlin sent one to my daughter. It's not valid until you activate it, by proving who you are through a special form you take to the post office.

Signing up for something you either can't or can't be bothered to read the conditions of, is asking for trouble.

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Know someone who was sent one also without requesting it, who sent it back, (also know someone who was sent 2(!) CCs from ADAC w/o request). From what we've read, it's your responsibilty to transfer the money on a regular base, Advanzia will not come and get the money out of your account, so if you miss to pay back in time, the 19 something will be applied. Also they claim it's a Gold card, but have to write Gold onto the card since it's actually brown... Dunno if it's a real credit card, but if you're just looking for a charge card like a MasterCard with monthly payback, there could be some better offers like the one from Happy Digits https://www.happydigits.de/hdmain/hd/extras...karte/index.jsf

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I actually have one of these, as they sent it to me out of the blue last year and I didn´t have a European credit card so I took it. I only use it for online purchases and it has a small limit, so I pay it off every month. Its not too bad.

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I just noticed about the credit cards (Mastercards) from this bank, and it seems it has no additional fees unless you don't pay at the right time.

Actually i plan to get one of them and to use it during my travels to other European countries (like Netherlands or Sweden). Does anyone know how much is their limits (like monthly purchase limit or per transaction limit...)

Also i'm not sure if there is any hidden cost in their contracts since everything is in German with a too small font for OCR translate!!

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Why don't you ask them? We don't even know what kind of card you are talking about. Then have someone translate the fine print for you.

 

I have 3 no fee credit cards. One is from Comdirect and another one is from Valovis Bank (owned by Targo Bank). The third is from a U.S. account. I don't even know what the current interest rates are because they are paid automatically from my Giro accounts each month.

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I have had a Mastercard from them for a few years - it has the advantage that there are no charges for purchases made internationally - i.e. they convert the currency at the official Mastercard rate of the day, and no more. Other credit card companies may convert currencies at worse rate (say 1,5%-3% difference), to earn some revenue, but of course this makes everything that more expensive for you.

 

(note, with in the Eurozone, you should have this charge on any card anyway, so in this case, the Gebührenfrei Mastercard is only an advantage if you are not buying things in Euro).

 

Other than that there are no specific advantages, other than there is no yearly charge.

 

Cash width-drawls are never free, if this is interesting for you, get a DKB account!

 

The negative aspect is that you do have to remember to transfer the balance to them each month which did catch me out once (card was barred, fortunately i had another to use), but even then, they seem to be a little tolerant of payment arriving a day late :-)

 

A positive/negative aspect (depending on your point of view) is that they do not perform a credit check (Schufa), so you start of with a mini-credit limit of only a few hundred Euros, but this increases each month you use the card and make the required payments. It took a few months, but I eventually maxed out at a a limit of xxx thousand Euro which is high enough never to be an issue!

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Other than that there are no specific advantages, other than there is no yearly charge.

 

There are! They offer free travel insurance for short term travel if you paid for the trip using their card.

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There are! They offer free travel insurance for short term travel if you paid for the trip using their card.

Ok, true, but I never use it for this purpose as I have an annual policy travel policy, and if I buy anything with a credit card in the Eurozone, it goes on my Amazon card where I get cashback!

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It's my main credit card and I've had good service from them, including once when there was some glitch in the payment.

As soon as the bill arrives, I do the transfer online, but dating it for the day before payment is due. That way I don't have to keep remembering.

The credit limit went up very quickly.

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Actually i plan to get one of them and to use it during my travels to other European countries (like Netherlands or Sweden).

 

This card charges no additional fees when paying merchants outside the Eurozone, but it's quite expensive to use if you want to withdraw cash.

 

 

Sollzins bei Bargeldabhebungen, 22,90 % p.a.

 

Have a look at Cortal Consors instead. Their (unconditionally) free checking account comes with a free Visa card which you can use to make purchases at merchants worldwide with zero surcharge. You can also withdraw cash world-wide for free.

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oh yeah, and to answer the question in the heading "Pretty much free - too good to be true?" - of course, the retailer is paying a percentage fee to Mastercard for the privilege of getting your money via the card, and Gebührenfrei are receiving some of that. So in reality we're all paying a hidden fee for using the cards, but as they don't charge diffeifferently for cash/cards here, credit card users are getting subsidised by the Cash/EC card using German masses :-)

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Does anyone knows how they take into account the refunded fees? For example my invoice for this month is 500 euro and i a few days ago i returned a some items to some shopping stores and now i can see the credit transfers from the stores in my credit card account (ex. -100 euro). But in the account's web site, as the current statement, they add the last invoice amount with current purchases and also the refunds all together so i cannot understand exactly how much i have to pay them for balance statement. 500 euros or 400 euros?!

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I've had this. Is the 100 euro refund in your current transactions or in your monthly bill? Whatever the case, you can safely say that whatever the amount on the monthly bill issued to you, that is the amount you should pay (assuming you want to pay it all off straightaway and obviously having checked it adds up). The 100 euro refund will either have been taken into account in this month's bill or if, not, will be deducted from next month's bill.

 

Hope that helps - good card incidentally!

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Thanks Daniel for the advice.

BTW, i have another question. I tried to find out their interest rates in case i don't pay the monthly balance all off. They said the following on their website:

"Sollzins auf Ihre Einkäufe bei Nutzung der Teilzahlungsmöglichkeit, 19,94 % p.a. Effektivzins (variabel und bonitätsabhängig) ab Transaktionstag, nominal pro Monat" and also 1,53% as the price. So i wonder if anyone can explain that in English, like if i have to pay 200 euros and i pay only 30 euros by the due date, then how can i pay the rest? is there any specific installments for the rest? and how the interest would be calculated?

 

Tanx

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i made some purchases last month with the credit card along with some cash barrow from the ATM. let say 600 purchases +400 cash withdraw, so my total balance is now 1000. They say the interest rate of the cash withdraw would be calculated from the day i got the cash till the day i return it. 

now i want to pay back the 400 cash back ASAP and to pay the 600 purchases in the normal invoice intervals. I paid back 400 a a few days ago and my balance is now 600, but how should i know if they assumed that as the return for the cash withdraw and not for the purchases? i do not want to wait until the next month invoice to check that.

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It's really spilt in my experience, either the money is repaid in the order it is used, or some credit lenders pay off the lower rate first, then the high rate regardless of timing. 

 

You really need to dig out the contract you signed to take the card and read through the terms and conditions, or call them.   Without knowing the specific terms, it's a shot in the dark as to what you agreed to.  My feeling is you're still holding that 400 cash withdraw and paying interest + 200 from the credit use.

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1 hour ago, stephan_fam said:

... but how should i know if they assumed that as the return for the cash withdraw and not for the purchases? i do not want to wait until the next month invoice to check that.

 

- either read your terms and conditions or phone them and ask. It really isn't that difficult, y'know?

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