Not every person wants to switch the current account to a direct bank. For some people, it is enough to have a free credit card to the existing current account at the Sparkasse and the like.
How you can optimally use the credit cards (without current account switch) – take full advantage of them – you will find out in this article.
Comparison ⇝ You can make a preselection
|DKB Visa Card||ING-DiBa Visa Card|
|Annual fee per year||Euro 0.00||Euro 0.00|
|Withdraw cash in Euros||Euro 0,00||Euro 0.00|
|Withdraw cash in other currencies||Euro 0.00||Euro 0.00
plus 1.75 % foreign transaction fee
|Card payment in Euros||Euro 0.00||Euro 0.00|
|Card payment in other currencies||Euro 0.00||Euro 0.00
plus 1,75 % foreign transaction fee
|Credit line use|
|Maximum possible credit line||Euros 15,000.00||Euros 10,000.00|
|… Is achieved by?||actual salary transfer × 3||submitting a salary slip × 3|
|… Can be increased by deposit?||yes, up to millions||yes, up to millions|
|Interest-free days?||maximum of 30 (until the next settlement)||no|
(after interest-free period)
|6.90 %||6.99 %|
|Additional card?||V Pay Card, free of charge||Maestro Card, free of charge|
|Partner card?||Yes, free of charge
Joint account or power of attorney
|Yes, free of charge
Joint account or power of attorney
|Emergency card and/or emergency cash?||Yes, free of charge||No|
|Supplement to the credit line?||No||Yes, framework credit up to Euros 25,000|
|Online application?||Yes, here:
|Note: If you are willing to arrange to transfer your salary to the new bank, the DKB is the first choice in many cases. If the salary transfer should remain at your current bank, then the ING-DiBa is more meaningful, because you can already get a credit line by submitting the salary slip!|
Tips and tricks from my years of usage
If you are not yet sure of which of the two credit cards better fits your needs, then read the following sections with attention, in which you find advices for the optimal use. You are welcome to supplement them with your experiences and ideas through the comments feature at the end of the article. Many thanks!
Oh yes: My experiences with the DKB Visa Card date back to the year 2004 and with the ING-DiBa back to the year 2008.
a) For those, who want to use the interest-free period …
… should choose the DKB Visa Card, because the credit card transactions are booked in a separate credit card account. This account can go into the red up to the setup overdraft.
Around the 22nd of the month, it is automatically settled with the DKB current account. Up to this day, no loan interest applies. If there is not enough money in the current account, then the favourable overdraft facility interest rate of currently 6.9 per cent applies.
Up to 30 days interest-free!
If there is balance in the credit card account, then this is used before it goes into the red. Technically, one cannot have two balances in one account.
The debit entry from another account than the DKB current account is not possible at the DKB. This is only possible at sole credit card products, as usual e.g. at the Barclaycard.
b) For those, who want to have more overview
… the ING-DiBa could be the better choice. Some people worry about losing the overview of their expenditures, if one account is going into the red and the other one has a nice balance.
At the ING-DiBa, there is no separate credit card account. All card payments and cash withdrawals are immediately booked on the current account. By this, the balance of the current account also immediately decreases or one immediately starts to use the overdraft facility which is subject to interest.
The credit card line is the overdraft facility line of the current account. If no ovedraft facility to the current account is arranged, the ING-DiBa Visa Card is a sole prepaid card. However, one cannot notice that, as it is high-embossed and on the back, one can find “Credit” next to the security code. Security deposits at rental car companies and hotels will work flawlessy.
Credit line = overdraft facility of the current account
c) Which credit card is better for journeys?
Herein, it depends a little on where the journeys are going to. Within the Euro-area, the conditions of both cards are the same. You can:
- withdraw cash free of charge at every Visa-accepting ATM
- pay free of charge with the card at every Visa-accepting payment terminal.
One crucial difference is in the use of foreign currencies, e.g. when flying to America. The ING-DiBa charges a foreign transaction fee of 1.75 per cent for every card transaction outside the Euro-area. This makes every payment more expensive!
In the first 12 months after the account opening and afterwards permanently with incoming money transfers of monthly Euros 700, one is considered an active customer at the DKB, which results in the fact that the foreign transaction fee is refunded with the monthly credit card settlement! This can be quite a huge amount!
Moreover, one also is entitled on receiving help in an emergency being an active customer. At a card loss, the DKB helps within 48 hours with an emergency card. It is also possible to pick up emergency cash on the same day through a counter of Western Union.
This has already happened to me and the DKB has bailed me out wonderfully:
d) Which credit card is better for Internet purchases?
Basically, both cards are equally great for Internet purchases.
However, at the DKB, there is a small particularity that I want to share with you: You have the possibility to apply for a DKB VISA Tagesgeld. This is a call money account with monthly interest. Nevertheless, the current interest rate of 0.2 per cent is not exactly thrilling.
Perhaps interesting is that it is not a classic savings account, but a virtual credit card. That means that you get a credit card number, a card expiry date and a security code to the call money account. So everything that you have to enter at a credit card payment on the Internet.
Virtual credit card is possible free of charge as an addition!
As there is credit card data spying on the Internet from time to time – e.g. through card robbery in online shops – it can be meaningful to get an extra credit card only for Internet purchases. If you charge balance on the card, then you even get a little interest.
Of course, a credit line can also be agreed on for this virtual credit card. If the account is in the red, then it is also monthly settled, just like the plastic credit card.
For cases of credit card fraud, the legislator has set a deductible maximum amount of Euros 50. Active customers of the DKB do not have to bear this.
e) Combination of DKB and ING-DiBa with double credit line
In our smart banking community, there are not just a few, who have acquired both cards.
The clever knack works as follows: The salary is transferred to the current account at the DKB. By this, a credit line on the current account and in the same amount on the credit card is created. At the ING-DiBa, only the proof of salary is submitted. Due to the proof of salary, the bank also makes a credit line available to you.
Example: customer with Euros 2,500 net income
|Euros 15,000.00 in total||Euros 7,500.00
through actual salary transfer
through submitting the salary slip
|You can continue here…||www.dkb.de||www.ing-diba.de|
- Further ideas to the credit lines and overdraft facilities
- ING-DiBa overdraft facility without salary transfer
- DKB overdraft facility up to Euros 15,000
For those, who need a yellow button for further information or for applying, here they are:
Explanation as a video:
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… Got questions?
Please use the comments box and a 💗-ly thanks to our strong and smart community that supports us with advice and help at responding! 🙂