Smth totally different in this Corona mess, but: So far I have only been using Revolut basic (free) for my Visa and MasterCard and I got a free VISA from my german bank (Comdirect). Also got a free Amex Payback to collect payback points (1P for every 2€ spent; in partner stores like Rewe, DM 1:1) which you can actually redeem quite well in Germany or online. So far I’ve considered paid credit cards a kinda rip-off since insurances etc that come with them usually aren’t even that good and it’d often be cheaper to just sign up for them yourself. If you have signed up with a provider that offers non-free/paid (annual fee) credit cards, which one did you sign up for and why?
I considered getting Revolut Premium but 80€/year is still steep for what you get.
I signed up with my bank for a MasterCard. Costs are 12€ / year from the top of my head. That’s the MasterCard classic so nothing special. In case of emergency I simply want to dial the number on the back and have someone talk to me in either Dutch or English without too much of an accent . Not sure how Revolut works in that respect, but there’s been occasions my card was declined at restaurants so I had to call the bank to have a word on that.
Fair enough. Until last year I also had a youth MasterCard from my local bank. 24€/year with Travel insurance for trips up to 3 months and free withdrawals world wide. Cancelled it meanwhile though. As for Revolut I never know how to rate them. When everything works they have awesome featueres and flexibility. When your acc gets locked randomly 3 times in a month while my local bank never locked it and the re-verification is a pita ranging to the chat history of the verification agent being lost since you are kicked out of your revolut and proceed to be “anonymous” it’s a hassle. Premium perks that are interesting from Revolut rn are: 8 comission free stock trades, SmartDelay (2 free lounge passes for delayed flights of 1 hour min. in up to 1000+ lounges), Travel insurance (which is kinda shitty for german standards since you have to pay 75€ in any insurance case still;), reduced mobile device insurance for ppl that drop their phone on stone like me and some others.
I basically only save on things that are not important to me which is my excuse for paying a yearly fee to my creditcard issuer .
I don’t have the cheapest internet connection either because (online) connectivity is important to me. That’s not to say free stuff can’t be great; I just rest assured knowing there’s folks over at the bank able to help me out anytime, anywhere
My only paid CC is an American Express Blue Cash Preferred card.
$95/year. Got a $250 bonus when I signed up. Mainly got it for the rewards – 6% back at grocery stores, 3% back on gas, 1% elsewhere plus regular offers (i.e. $10 back from Netflix for paying with your card, etc.). I’ve had it for a couple years now, totally worth it.
To be honest even though Amex Payback cars is free of charge the Amex support is one of the best I’ve ever encountered for Credit Cards. My local bank account where I had the MasterCard with I also plan to cancel soon. They have ridiculous opening hours 8-12, 16-18 which just doesn’t work for me if I need smth. In two years I’d also be too old for their youth free bank account so I’ll close it soon. Comdirect has (so far) no local bank offices for customer relations (it’s a german direct bank now belonging to Commerzbank) but their 24/7 hotline is spot on and I never really wait longer than a minute tbh. They also got swift e-mail support. Since they are at some point gonna merge with Commerzbank (which was already their parent company before the buy-out) it remains to be seen whether they’ll charge fees for the bank account/my depot in tje future but so far none. Hopefully I’ll also be able to use the Commerzbank local bank offices as a Comdirect customer, soon. Would be great
True, although it is getting better + for traveling and online shopping. Especially linking Amex Payback to Paypal helps a lot haha Amex acceptance is poor in Germany but it is accepted in bigger players like Rewe Supermarket or DM since Amex bought them I believe.
I haven’t signed up for any new cards due to the virus, but I do hold a few Visa/Mastercard cashback/travel cards that all have $0 fee. These cards also receive free purchase insurance, etc.
(These are Canadian cards BTW)
Side note: I thought Germany had good CC penetration – guess not
I don’t have a paid credit card - looked into Amex but the acceptance rate here isn’t amazing. Lots of shops turn their nose up at Amex even if they technically accept it.
I ended up just going for a Barclaycard Rewards card so I only get 0.25% back on anything I spend but it doesn’t cost anything and it’s better than nothing.
Amex acceptance in Germany is shit as well I always give it a try though even if shops say they don’t accept it. Plus you can link it to your PayPal and use it for online shopping.
In my country more than half stores wont accept american express as its fees are higher than 10%. Usually store owners will prefer you buy nothing than buy and pay with american express
I got this one this year too! My first AmEx card. Good cashback on groceries and streaming, and AmEx often have good deals. Events/concerts sometimes have cheaper tickets only available to AmEx card holders, too. After a year I’m going to decide whether it’s worth keeping, or whether to downgrade to the free version.
The only other credit card I’ve got with an annual fee is the Bank of America Premium Rewards card. It’s $95 per year, but you get $100 per year credit for airline incidentals (seat upgrades, baggage, etc) so if I fly at least once per year it’s effectively a free card. I’ve got enough money invested with Merrill Edge to quality for Bank of America’s platinum honors preferred rewards tier, which gives a 75% bonus on the cash back, which boosts the 1.5% cash back to 2.625%. I’ve got a few other cards that give either 5% or 5.25% cash back in certain categories, and the AmEx card for groceries, but all other spending goes onto the BofA Premium Rewards card.
It’s great in the USA! Good cashback offers, and good protection against fraud. In Australia our credit cards usually have very high annual fees, and not many benefits (basically no cash back offers; all the rewards are just frequent flyer points).
. Not sure how Revolut works in that respect, but there’s been occasions my card was declined at restaurants so I had to call the bank to have a word on that.
Amex acceptance is poor in Germany but it is accepted in bigger players like Rewe Supermarket or DM since Amex bought them I believe.