Car bank form the third pillar of the German banking sector alongside savings banks and private commercial banks. They have always offered private and corporate customers the entire range of banking services. Payment transactions and account management are part of the core business. In this context, the car banks naturally also offers credit cards. Further editorial at http://www.2588000.com/title-loan-no-inspection-discover-more-information-about-easy-title-loans-online/
Car bank (together with the VR-Bank, cooperative bank, savings and loan fund) – the names under which the cooperative credit institutions appear in Germany are as diverse as the group itself. What they have in common is the cooperative legal form eG and the cooperative principle. The group includes almost a thousand institutes with over ten thousand branches.
There are also special cooperative banks such as the Sparda banks, the PSD banks or the church banks. Together they are supported by more than 18 million members who are not only customers but also the owners of their bank. In this sense, they are real “Car banks”. They usually only offer their services in the region in which they are located.
Customers usually have a choice: Mastercard or Visa
Every Car bank, etc. is a legally and to a large extent also an independent business policy institute that is more or less closely networked with the other cooperative banks within the framework of an association. That means: Ultimately, it is up to the individual institution to decide which customer groups are offered which services at what conditions. Within the framework of the network, there are at most framework specifications or recommendations. This also applies to the offer of credit cards. It therefore makes a difference whether the credit card was issued by a Car bank in Berlin, Hamburg or Munich.
The majority of the Car banks offer their customers either a Mastercard or a Visa card. Some institutes limit themselves to credit cards from only one card company. Mastercard and Visa are the two most widely used card systems internationally. Mastercard has around 35 million acceptance points worldwide and two million usable ATMs (ATMs) for cash withdrawals, visas over 24 million acceptance points and 1.6 million ATMs. In Germany, Visa acceptance (approx. 500,000 jobs) is slightly larger than Mastercard acceptance (approx. 450,000 jobs). Whether Mastercard or Visa card – both cards offer you a wide range of uses at home and abroad.
No uniform fees
Cards are almost always issued only in connection with a corresponding business connection. This means that you must at least also maintain or open an account with the Car bank in question. Many institutes also link the customer relationship to membership, which means, among other things, the acquisition of cooperative shares. A credit card without any other customer relationship with the bank makes little sense or is de facto impossible. Credit cards are offered to private customers as well as business and corporate customers.
The independence of the individual Car banks is also noticeable in the credit card fees. Here the banks use the fee models made possible by the card companies according to their own business policy considerations. It is therefore difficult to provide specific information.
As a rule, banks charge an annual fee, sometimes graded according to card sales. It is also common to charge sales-related fees for ATM withdrawals with minimum amounts. A turnover-dependent foreign assignment fee (preferably in the non-dollar area) for card disposals is also often calculated. The individual bank determines the amount itself.
Despite this diversity and regional differences at the Car banks, there is a more or less uniform framework for credit card offerings, which we use here as a guide. You will find an overview below.
Car bank credit cards for private customers
- Classic credit card: the basic version of the Mastercard or Visa card from the Volks- und focuses on the payment transaction function. This card is often marketed as a ClassicCard or Classic credit card. The additional services are “lean” and are usually limited to the 24-hour blocking service and the emergency service, which is represented by the card companies Mastercard and Visa.
- Gold card: the gold version of the credit card runs at many Car banks under the name GoldCard. This is either a Mastercard or Visa card. Some institutes also offer platinum versions. In addition to the services provided by the Classic credit card, the gold card also includes a travel insurance package (travel insurance abroad, travel service insurance, travel cancellation and travel interruption insurance, traffic accident insurance and a letter of protection abroad). In addition, a seven percent reimbursement of the card sales is offered for travel and holiday bookings via the Urlaubplus travel portal.
- BasicCard: this card – also from Mastercard or Visa – is the prepaid version of the credit card offer of the Car banks. It works exclusively on a credit basis and has a similar functionality to “normal” credit cards. There are restrictions on the use of rental car bookings. The offer is aimed primarily at younger VR customers (pupils, students, trainees). The card is partially available from the age of 12.
Offers for business and corporate customers
The business and corporate customers of the Car banken are typically self-employed, freelancers and medium-sized companies. The BusinessCard offer is aimed at them. The BusinessCard can be used by the company owner, but also by employees, and may be equipped with additional services such as travel health insurance, accident insurance and assistance services that are useful on business trips.