Is there a free credit card?

Is it possible to apply for a free credit card?

Is it possible to apply for a free credit card?

You hear more and more of special offers from banks that offer you the free credit card . But is there really a credit card that is free of charge?

Strictly speaking, there is no “real” credit card that is completely free of charge. Because a credit card is always associated with costs for the bank and these are usually borne by the customer. And who gets anything else these days? So if a free credit card is offered, you should take a closer look at the offer. Most of the time there are hidden costs that are not recognizable at first glance, and the credit card provider only wants to attract customers with the word “free of charge”.

In some cases, for example, a current account must be opened to receive the credit card free of charge . Furthermore, higher interest is usually requested or processing and administration fees are incurred . In the end, you pay more with your free credit card than you would have paid for a credit card with annual fees.

Interest-free loan 

Interest-free loan 

However, there are credit cards on a credit basis (debit cards and prepaid credit cards). With these types of credit cards, you benefit from all the advantages of an ordinary credit card, with the difference that you are not granted a credit that you have to pay at a certain point in time. Therefore, the term “credit card” for debit and prepaid cards is often controversial. The bank does not have to give you an interest-free loan here because you have to top up your own money if you want to use your prepaid credit card . As a result, the bank has no costs to pay for the loan and there are attractive offers where the “credit card” is really free of charge or just an annual fee is due.

Therefore, inform yourself in the credit card forum about the various offers and services of different credit card providers and find the credit card that is best suited for you!