What are the Costs of gebührenfrei bank gold?
Sophia FloerschWhat are the Costs of gebührenfrei bank gold?
Gebührenfrei bank, a German bank, offers a gold card that allows customers to make purchases without paying any transaction fees. However, the question remains whether there are hidden costs associated with this card.
Annual Fees
One cost that customers need to consider is the annual fee charged by the bank. In the case of the gebührenfrei bank gold card, the annual fee is €29. This fee is waived for the first year, but customers need to pay it from the second year onwards.
Foreign Transaction Fees
While gebührenfrei bank gold card does not charge any transaction fees for purchases made within Germany, customers need to pay a foreign transaction fee of 1.5% for purchases made outside of Germany. This fee can add up quickly, especially for customers who travel frequently.
Cash Advance Fees
If customers use their gebührenfrei bank gold card to withdraw cash from an ATM, they need to pay a cash advance fee of 4% of the amount withdrawn. This fee is in addition to any ATM fees charged by the bank that owns the ATM.
Interest Rates
Although gebührenfrei bank gold card offers a 0% APR for the first 7 months, the interest rate after the introductory period is quite high. Customers need to pay an interest rate of 18.38% on any outstanding balance on their card.
Conclusion
In summary, while gebührenfrei bank gold card does not charge transaction fees for purchases made within Germany, customers need to consider the annual fee,foreign transaction fees,cash advance fees, and high-interest ratesassociated with the card. Therefore, it is essential to read the fine print before applying for any credit card to ensure that there are no hidden costs that could impact your finances negatively.
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